US dollar is heading lower today, even with a few pro-dollar happenings earlier. With emerging markets crashing, and with tapering rumors continuing, the US dollar should be getting a little bit of a boost today. However, it’s not, because there is a little more uncertainty on the horizon than many Forex traders are comfortable with. Earlier today, the emerging market currencies saw a huge crash, losing … “US Dollar Drops – Even With Pro-Dollar Happenings Today”
Month: August 2013
Swiss Franc Profits from Decline of Stocks
The Swiss franc climbed today as the drop of stocks and speculations about possible reduction of monetary stimulus by the Federal Reserve made the currency attractive to investors because of its role as a safe haven. The Stoxx Europe 600 Index of shares fell 0.9 percent, while the MSCI Asia Pacific Index slumped as much as 1.7 percent. The decline resulted in higher demand for safer assets. On top of that, speculations about quantitative easing tampering were driving … “Swiss Franc Profits from Decline of Stocks”
RBA Releases Dovish Minutes, Aussie Down
The Australian dollar dropped today after the Reserve Bank of Australia released the minutes of its last policy meeting. The central bank was more dovish than it looked previously and hinted that further interest rate cuts are not impossible. The RBA was more dovish than Forex market participants have thought. The central bank predicted that economic growth will be at 2.5 percent till mid-2014, before … “RBA Releases Dovish Minutes, Aussie Down”
Federal Reserve stronger than ever
Perhaps Obama is not the worst President of the USA, as some might like to suggest. That’s probably only because he is President in name and little much else. He is like a window-dressed actor that is in the front-shop, strutting and fretting his hour upon the stage. But, the people that pull the strings … “Federal Reserve stronger than ever”
USD/JPY: Trading the Existing Home Sales August 2013
US Existing Home Sales indicator is released monthly, and provides analysts with important data about consumer demand in the housing sector. A higher reading than the market prediction is bullish for the dollar. Here are all the details, and 5 possible outcomes for USD/JPY. Published on Wednesday at 14:00 GMT. Indicator Background Existing Homes Sales provides … “USD/JPY: Trading the Existing Home Sales August 2013”
OANDA Boosts Advanced Technical Analysis Features in fxTrade Mobile
Forex broker OANDA continues developing its mobile application and adds advanced technical analysis tools. Forex traders can now identify support and resistance levels, draw chart patterns and chart patterns on their mobile phones. OANDA recently added AutoChartist as a partner, the first of more to come. For more on the new features of the mobile … “OANDA Boosts Advanced Technical Analysis Features in fxTrade Mobile”
USA on its way to second best?
Within three years the USA will have been knocked off the podium in its number one position as the world’s most economically-powerful country. China will overtake it by 2016. Come what may and however much we might think that is not going to happen, it will. It’s always a surprise that some seem to believe … “USA on its way to second best?”
Canadian Dollar Weak Ahead of Retail Sales Report
The Canadian dollar fell today ahead of this week’s retail sales report that is expected to show a small decrease of sales. The speculations about quantitative easing tampering by the Federal Reserve were not helping the currency either. Analysts estimated ahead of the official report that Canadian retail sales dropped 0.3 percent in June after jumping 1.9 percent in May. Statistics Canada will release its estimate on August 22. … “Canadian Dollar Weak Ahead of Retail Sales Report”
Aussie Climbs at Beginning of Trading Session, Loses Gains
The Australian dollar went higher at the beginning of the trading week, but was unable to keep gains and went down as traders continued to wait of the minutes of the last central bank’s meeting. The Reserve Bank of Australia will release the minutes of its August policy meeting tomorrow. The central bank signaled after cutting interest rates that it is not planning to continue rate cuts anymore. Market participants hope that the minutes will … “Aussie Climbs at Beginning of Trading Session, Loses Gains”
Yen Continues to Drop Against Majors
Yen is continuing its drop today against its major counterparts, heading lower as the word spreads that a weaker yen is helping Japanese exports. With the economy picking up and exports on the rise, Japanese officials are likely encouraged by the effects that a weakened yen is having. The latest data released by Japan’s Ministry of Finance shows that exports are on the rise. Japanese exports of electronics and cars indicate a recovery … “Yen Continues to Drop Against Majors”