The Great Britain pound fell against the US dollar and rose versus the Japanese yen after a report showed that retail sales increase last month, but the rate of growth was significantly slower than in the prior month. UK retail sales were up 0.2 percent in June from May, when they rose 2.1 percent. The sales were growing for the second month after two months of declines. Earlier, the pound … “GBP Falls vs. USD, Rises vs. JPY After Retail Sales Report”
Month: July 2013
The importance of a trading log
It’s a shame that many beginner traders overlook the importance of keeping a trading journal. Even some “experienced” traders refuse to do the tiny work that is required to log their trades each day onto a sheet of paper or in a computer program. I can guarantee you one thing: the beginners and “experienced” traders … “The importance of a trading log”
EURJPY: Sets For More Upside
EURJPY- The cross’s upside bias remains intact with eyes on its overhead resistance at the 131.11/30 levels. This zone if taken out will turn focus to the 132.00 level followed by the 133.00 level and then the 133.81 level. We will have to see the cross climb back above here to resume its broader medium … “EURJPY: Sets For More Upside”
Pound Jumps on Falling Jobless Claims & BoE Minutes
The Great Britain pound climbed today as unemployment claims fell and the minutes of the last Bank of England meeting reveled that policy makers were considering usage of other tools than asset purchases to revive the struggling UK economy. The number of people claiming Jobseekerâs Allowance dropped as much as 21,200 in June from the prior month. The decrease was biggest in three years and far above analysts’ prediction. The BoE minutes showed that the members … “Pound Jumps on Falling Jobless Claims & BoE Minutes”
Bank of Canada Releases Dovish Statement, Loonie Drops
The Canadian dollar fell today as Bank of Canada Governor Stephen Poloz kept interest rates unchanged and released a policy statement that was definitely less hawkish than statements of the previous central bank’s head Mark Carney. As was expected, the BoC kept its main interest rate at 1 percent. Poloz was noticeably more dovish than Carney, saying that Canadian “economic growth is expected to be choppy … “Bank of Canada Releases Dovish Statement, Loonie Drops”
Euro Slumps as Uncertainty Reigns
Euro is struggling today as uncertainty about the stability of the eurozone continues to weigh on sentiment. Between disappointing economic data, and conflicting reports about funding gaps, there are worries about what could be next for the eurozone, and that is sending the 17-nation currency lower against many of its major counterparts. The latest news out of the eurozone is less than encouraging. The latest labor data shows persistently high unemployment, … “Euro Slumps as Uncertainty Reigns”
Japanese Yen Remains Down Even with Prospect of Economic Recovery
Japanese yen is gaining today as Bank of Japan policymakers share their assessment of the economy. Even with an upbeat view of the recovery, yen is lower against its major counterparts. The Bank of Japan just ended a two-day policy meeting, in which the economy was discussed and the need for stimulus measures was reviewed. When making a statement about the economy, policy makers said that the economy is “starting to recover moderately.” This … “Japanese Yen Remains Down Even with Prospect of Economic Recovery”
Won Climbs as Investors Buy South Korean Assets
The South Korean won advanced today as investors were buying Asian nation’s assets amid risk appetite created by hopes that the US Federal Reserve will maintain its stimulus. According to the exchange data, investors have purchased $128 million more South Korean bonds than they sold so far this week. The won rallied to the highest level in more than a month. Investors were willing to risk after … “Won Climbs as Investors Buy South Korean Assets”
Turkish Lira Halts Rally on Concerns About Smaller Interest Rate Hike
The Turkish lira fell for the first time this week on concerns that the expected interest rate hike will be smaller than was previously anticipated by market participants. Previously, the lira was rallying on speculations that Turkish policy makers will raise interest rates by at least 1 percentage point next week. Now traders are worried that the increase may be smaller if Federal Reserve Chairman Ben … “Turkish Lira Halts Rally on Concerns About Smaller Interest Rate Hike”
Sterling’s post minutes surge – a sell opportunity
The Bank of England minutes pushed Sterling sharply higher against the US dollar at 1.5245 as The Bank of England’s monetary policy committee voted 9-0 to leave interest rates and quantitative easing unchanged. This sharp rally in Sterling should be used as an opportunity to short the pound again against the US dollar. The 1.50 … “Sterling’s post minutes surge – a sell opportunity”