The article I wrote 2 days ago (Wednesday) with regards to buying the dollar as it was having an “off” day against Sterling due to better than expected UK data would have been very profitable. Since Wednesday, Sterling has fallen more than 250 basis points and Sterling is currently trading below the psychological $1.50 – to … “Carney to weaken Sterling further”
Month: July 2013
Canadian Dollar Mixed Ahead of Employment Reports
The Canadian dollar fell against its US counterpart and rose versus the Japanese yen ahead of today’s employment reports from Canada and the United States. Economists predicted that today’s report will show that Canadian employment contracted by 4,200. Such expectations are negative for the loonie. Yet the signs that the major central banks will keep stimulus measures supported the Canadian currency to some degree. USD/CAD rose from 1.0511 … “Canadian Dollar Mixed Ahead of Employment Reports”
Dollar Gains During Holiday
The US dollar managed to post huge gains against the euro and the Great Britain pound today even during a holiday in the United States. The currency also outperformed the Japanese yen, which rallied against the currencies of the eurozone and Britain too. It is Independence Day in the USA today and trading was expected to be quiet. Yet today’s trading session was anything but uneventful. One could say that big moves should … “Dollar Gains During Holiday”
Euro Crashes as Draghi Suggests Rates Will Stay Low for Long Time
The euro crashed after European Central Bank President Mario Draghi suggested that interest rates will remain low for a long period of time. The currency advanced versus the Great Britain pound, which was also hurt by comments of the nation’s central bank. The ECB left its benchmark interest rate at 0.5 percent. It was not a surprise for the Forex market. Yet Draghi managed to shock market participants, saying: The Governing … “Euro Crashes as Draghi Suggests Rates Will Stay Low for Long Time”
Retracement Ichimoku Alert: USDCAD Forex Daily Chart
This chart shows the daily USD/CAD, with Ichimoku indicator applied. The red line across the chart is the Kijun Sen, or the median price level for the past 26 periods. Ichimoku theory suggests that a flat horizontal Kijun Sen is like a magnet, or equilibrium, drawing prices back to it. We saw this happening in … “Retracement Ichimoku Alert: USDCAD Forex Daily Chart”
Pound Sinks After BoE Maintains Interest Rates Record Low
The Great Britain pound slumped today as the central bank maintained interest rates at the record low level and kept the size of asset-purchases the same. The Bank of England kept the key interest rate at 0.5 percent and asset purchases at £375 billion. Market participants have expected such decision. The central bank said in the statement: In the United Kingdom, there have been further signs that a recovery is in train, although it remains weak by historical … “Pound Sinks After BoE Maintains Interest Rates Record Low”
Hot summer in currency trading – webinar recording
The Fed made a dramatic announcement on tapering intentions, but the timing and scale are still unknown. Is the rise of the dollar rise a one way street? Which currencies are more vulnerable after the big shift? In the webinar held on July 3rd, we dived into what the Fed said and what it means … “Hot summer in currency trading – webinar recording”
Top rogue traders and what they have in common
Lone-wolves are like traders apparently. The rush is on to get the prey, except the prey here is just the profits. But, the wolf and the rogue trader both tear off chunks of that and leaving nothing but a carcass to rot. Or, at least so we are told by the banks that prosecute the … “Top rogue traders and what they have in common”
CAD Jumps as Crude Rises Above $100 Mark
The Canadian dollar climbed as crude oil, the major Canada’s export, advanced above the psychologically important $100 level, improving prospects for the Canadian economy and increasing the appeal of the nation’s assets. The currency weakened against the Japanese yen though. Crude traded at $101.11 per barrel in New York today. Oil rallied as unrest in Egypt threatened supply and after a report showed that US stockpiles shrank. It is Independence Day in the United States … “CAD Jumps as Crude Rises Above $100 Mark”
Short-Covering Drives Dollar Lower, Fundamentals Remain Positive
The US dollar dropped today ahead of Friday’s important report. Many analysts think that it was nothing but short-covering and the currency can yet rally on fundamentals that remained positive. The dollar fell ahead of non-farm payrolls that will be released on July 5, but the trading environment is still favorable for the US currency. The employment report of Automatic Data Processing showed an increase by 188,000, which has beaten … “Short-Covering Drives Dollar Lower, Fundamentals Remain Positive”