Euro managed to firm against the US dollar earlier in trading, but now the euro is lower in general as concerns about the global economy come into focus and as risk assets lose their attractiveness. Earlier in the trading day, the euro managed to firm against the US dollar. Bond sales in Italy and Spain showed solid demand today, and that helped the 17-nation currency. However, even with this good news, things quickly … “Euro Drops after Firming Earlier”
Month: January 2013
EURUSD: Pull-back May Find A Support At 1.3300 or
EURUSD is very bullish since last Thursday’s ECB press conference when the pair reversed significantly higher, clearly in an impulsive fashion, with an extensions above the 1.3300 level. We know that impulsive structures are five wave patterns that unfold in the direction of a larger trend. With that said, we expect even higher levels on … “EURUSD: Pull-back May Find A Support At 1.3300 or”
British Pound – Triple Dip and Triple Top
More signs of an economic deterioration were seen in the UK during December. If there is no huge surprise, the initial GDP report for Q4, published at the end of January, will show that the economy contracted once again – the beginning of a third recession since the financial crisis began in 2008. The British … “British Pound – Triple Dip and Triple Top”
Aussie Slips Ahead of Employment Report
The Australian dollar dropped today ahead of employment data later this week. Analysts think that the employment report will show weakness of the labor market, adding to signs of trouble in the nation’s economy. Economists fear that the employment data released on January 17 will show an increase by just 2,300 in December, a poor result compared to November’s 13,900. On top of that, the unemployment rate is expected to grow by 0.2 percentage point to 5.4 … “Aussie Slips Ahead of Employment Report”
Could Western Governments Be Considering Borrowing in Yuan?
As many Western countries start thinking about how they can borrow more at a lower cost, it might be possible that these governments turn to so-called “panda” bonds. China is looking to the future, and that means that the future might mean borrowing in yuan. Over the course of the last few years, China has been taking steps to become an international player on the world economic stage. A few years ago, … “Could Western Governments Be Considering Borrowing in Yuan?”
US Dollar Gains as Risk Aversion Makes Its Appearance
US dollar is gaining ground as risk aversion makes an appearance. Earlier, it appeared that risk appetite was the order of the day, but things have since turned around, and the greenback is gaining ground as Forex traders seek safe haven. Earlier, the euro surged above 1.3400 against the US dollar, representing a high not seen for quite some time. However, since that time, the US dollar has … “US Dollar Gains as Risk Aversion Makes Its Appearance”
Indian Rupee Advances as Inflation Slows
The Indian rupee advanced today as inflation slowed to the lowest level in three years, leading to speculations that capital inflows into the country will increase and demand for the nation’s currency will grow. The Wholesale Price Index was at 7.18 percent for December on an annual basis, slowing from the previous month’s 7.24 percent. That was the lowest level since 2009. Global funds continue to pour money into the country, giving hope that … “Indian Rupee Advances as Inflation Slows”
Trading Directly From MetaTrader 4 Charts Introduced by Admiral
Admiral Markets presents a new and interesting feature: visual chart trading through its version of MetaTrader 4. Forex traders can place orders, manage Stop Loss and Take Profit orders directly from the charts. Admiral Markets recently introduced MetaTrader 5 on live accounts. For more about the new feature, here is more information from the press release: … “Trading Directly From MetaTrader 4 Charts Introduced by Admiral”
Rand Ends Five-Day Drop
The South African rand advanced today after five days of losses on speculations that the drop was overdone and after yield on nation’s debt fell. The yield on the benchmark 10.5 percent bonds maturing in December 2026 fell 8 basis points to 7.09 percent, the lowest close since December 2008. The currency also rallied on the positive market sentiment caused by the last week’s policy statement of the European Central Bank. Previously, the currency was … “Rand Ends Five-Day Drop”
PFSOFT Launches a Web Edition for Protrader
After launching the Protrader software, users can now access Protrader from the web, using a fresh design for this software. For more about the software, see: Overview of Protrader 2 – a DMA Platform, and here is more information about the web version, from the press release: The PFSOFT company, a trading technology provider, recently introduced … “PFSOFT Launches a Web Edition for Protrader”