The Great Britain pound advanced today as the manufacturing data was better than expected, adding to evidence that the UK economy is able to recover from the recession. Yet market analysts believe that the currency is in danger as traders’ view on the situation in the eurozone has improved. The manufacturing Purchasing Managers’ Index stood at 49.1 in November, rising from the October’s 47.3, which was the lowest level in three months. Analysts have expected … “Pound in Danger Despite Positive Fundamentals?”
Month: December 2012
AUD/USD: Trading the Australian GDP Dec 2012
Australian Gross Domestic Product (GDP) is a key release, released each quarter, which measures production and growth of the economy. Analysts consider GDP one the most important indicators of economic activity. A reading which is better than the market forecast is bullish for the Australian dollar. Here are all the details, and 5 possible outcomes for … “AUD/USD: Trading the Australian GDP Dec 2012”
Angela Merkel’s Comments Help Euro
Euro is heading higher today, getting a little help from general risk appetite, as well as from the latest comments made by German Chancellor Angela Merkel about possibilities for Greece going forward. Euro is getting a boost today, gaining as risk appetite shows up on the Forex market. There is a bit of optimism in the markets, with expectations that eventually US politicians will compromise to avoid the looming fiscal cliff, … “Angela Merkel’s Comments Help Euro”
Japanese Yen Short Positions Surge
Japanese yen is heading mostly lower today as short positions surge. Right now, expectations are that the yen will tumble in value, and Forex traders are shorting the currency as a result. For now the yen is moving much lower against the euro and the pound. The yen is actually higher against the US dollar right now, but other than that, the currency is struggling. A number of Forex traders think that … “Japanese Yen Short Positions Surge”
Forex Spreads Matter
As traders gain some experience, they realize how much of every trade actually goes to the broker, and they are naturally interested in paying less, says Paul Hayward, Head of Sales, OANDA Europe. I had the chance to speak with Hayward and Courtney Gibson, Vice-President of Trading at OANDA. In the interview below, they discuss … “Forex Spreads Matter”
Brazilian Real Rebounds After Losses on Weak GDP Growth
The Brazilian real managed to rebound after it fell earlier today as economic growth turned out to be slower last quarter than analysts had predicted, fueling speculations that policy makers may allow the currency to depreciate. Brazil’s gross domestic product grew 0.9 percent in the third quarter of this year, compared to market expectations of 1.9 percent growth. The worse-than-expected data spurred talks that the central bank will … “Brazilian Real Rebounds After Losses on Weak GDP Growth”
Mexican Peso Gains as Interest Rates Remain on Hold
The Mexican peso was firm today after Mexico’s central bank left its main interest rate unchanged last Friday and suggested that an interest rate hike may be possible in the future. The Bank of Mexico left its target for the overnight interbank funding rate at 4.50 percent on November 30. The central bank hinted that it is able to raise the rate if that will be necessary. Declining economic … “Mexican Peso Gains as Interest Rates Remain on Hold”
Tools for Forex Trading Hours
Following the article: Best hours to trade for those who hate surprises, I have received letters about two interesting tools related to this topic. They are listed and linked below. If there additional tools, I’ll be glad to add them: Market Omen From the founder: ” I’ve been able to predict the hours in which currency … “Tools for Forex Trading Hours”
Forex Crunch Key Metrics – November 2012
November was marginally weaker than October in terms of page views. The initial rush at the beginning of the month was followed by stability, together with the not enough volatile markets. Yet again, the figure in November 2012 exceeds November 2011, as did each month in 2011 so far. Here are the numbers: Page Views: … “Forex Crunch Key Metrics – November 2012”
GBP/USD: Trading the British Construction PMI December 2012
British Construction PMI Index is based on a survey of Purchasing Managers in the construction sector. The survey includes about 170 respondents, who are surveyed for their view of a wide range of business conditions, including employment, new orders, prices and inventories. A reading which is higher than the market forecast is bullish for the … “GBP/USD: Trading the British Construction PMI December 2012”