News that the Federal Reserve will likely delay its plans to taper its asset purchase program is sending the US dollar lower today. The recent budget battle in the United States has prompted concern amongst policymakers about the economic recovery. Worries about the impact of the recent budget battle in the United States are leading many policymakers to believe that the US economy recovery still needs a little bit of help … “Delayed Taper Weighs on US Dollar”
Month: October 2013
Thai Baht Rallies, Loses Gains
Asian currencies rallied today as the debt crisis in the United States was resolved, at least temporary. Some of them kept gains, other retreated. The Thai baht was among losers. Riskier currencies were supported by the temporary solution to the US budget stalemate and speculations that the Federal Reserve will not trim stimulus this year. Stable economic growth in China added to optimism of traders. Yet the baht was unable to maintain rally, … “Thai Baht Rallies, Loses Gains”
Won Rallies as Investors Buy South Korean Shares
Investors were buying South Korean stocks more than they were selling, resulting in improving prospects for the nation’s economy and a rally of the won due to the inflow of capital. According to the exchange data, speculators have invested $11.4 billion into South Korean shares since August 23, a record buying streak. It allowed the KOSPI index to reach the highest level in two years today. The won advanced, but the rally is in danger … “Won Rallies as Investors Buy South Korean Shares”
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Forex Education: Trends and Identifying Dominant Price Direction
One of the technical analysis terms that is most commonly used in the forex markets is the “price trend.” This essentially refers to the dominant direction of a currency pair over a certain time period (short term, medium term, or long term). Since prices can only travel in three directions (upwards, downwards, or sideways), one … “Forex Education: Trends and Identifying Dominant Price Direction”
Aussie Halts Rally Despite Positive News from China
The Australian dollar, as well as other currencies, came roaring to the upside against the US dollar yesterday as a political deal was made that ends the US government shutdown and raises the debt ceiling. The Aussie fell a little versus the euro and was flat against the Japanese yen. Today, the Australian currency halted the rally despite positive data from China. The National Bureau of Statistics of China reported that gross domestic product of the Asian nation … “Aussie Halts Rally Despite Positive News from China”
CAD Jumps vs. USD, Drops vs. Other Majors
The Canadian dollar jumped against its US counterpart yesterday as temporary measures to avert default in the United States were taken. At the same time, the loonie slumped against other currencies, including the euro and, surprisingly, the Japanese yen. Today, the Canadian currency is trying to reverse yesterday’s moves. The US Congress passed the bill that extends the Treasury’s borrowing authority until February 7 and funding of the government until January 15. The Republicans … “CAD Jumps vs. USD, Drops vs. Other Majors”
Ringgit Rises with Risk Appetite
The Malaysian ringgit rose today together with other currencies as the end to the US budget stalemate spurred risk appetite among Forex traders and boosted higher-yielding currencies. US President Barack Obama signed the bill that ends the government shutdown and boosts the debt limit until next year. The news brought much-welcomed relief on the market and resulted in a huge rally of currencies against the greenback. The rally was also supported by the view that the Federal … “Ringgit Rises with Risk Appetite”
Pound Rises with Retail Sales
The Great Britain pound rose today as September growth of retail sales was above forecasts, confirming that the UK economy is on the path to recovery. The currency also surged against the US dollar as default in the United States was averted. Retail sales rose 0.6 percent in September from August, slightly above market expectations of 0.5 percent. It looks like the recent string of negative reports from the United Kingdom was short-lived … “Pound Rises with Retail Sales”
Debt deal deals blow to QE tapering – USD in
The US dollar is on the fall after the US government has finally reopened and the debt ceiling deadline has been postponed. The temporary nature of the deal, and the potential for more headwinds for the economy, point to another delay in QE tapering, perhaps way into the distant future. Don’t blame China for this … “Debt deal deals blow to QE tapering – USD in”