The Indonesian rupiah advanced today with the help of the view that the US Federal Reserve will maintain stimulus, making investors more willing to bring money into emerging economies. Hopes that the Fed will keep its quantitative easing program unchanged were helping riskier currencies. Remarks of some US policy makers about an end to monetary easing made traders nervous a bit. New York Fed President William … “Rupiah Gains as Speculations About Fed Stimulus Persist”
Month: November 2013
Leading Indicators Help Aussie to Ignore Dovish RBA Minutes
The Australian dollar rose today as leading indicators advanced, overshadowing the Reserve Bank of Australia monetary policy minutes that were rather dovish. The Conference Board Leading Economic Index for Australia rose 0.3 percent in September. The increase followed the 0.2 percent drop in the previous month. The RBA was rather pessimistic in its policy minutes, saying that “growth in the near term would be constrained”. Additionally, the central bank complained that … “Leading Indicators Help Aussie to Ignore Dovish RBA Minutes”
Working at the weekend in forex trading
Forex markets are highly liquid and can be traded 5 days a week, 24 hours a day giving thousands of profitable opportunities for enthusiastic traders. So much so that when the weekend comes, the obsessive forex trader may not know what to do with himself. If you find yourself with nothing particular to do at … “Working at the weekend in forex trading”
UK Housing Data Negative for Sterling
The Great Britain pound was soft at the start of this week and maintained weakness today. UK housing data was unexpectedly poor, damping optimism about recovery in the United Kingdom. The Rightmove House Price Index fell 2.4 percent in November after rising 2.8 percent in October. The data damped optimism caused by last week’s positive fundamentals. The Bank of England will release minutes of its last monetary policy meeting on November … “UK Housing Data Negative for Sterling”
Canadian Dollar Struggles Ahead of Economic Reports
The Canadian dollar was little changed yesterday, supported by risk appetite of Forex traders, but is falling today on concerns that this week’s reports from Canada will not be good. The currency (often nicknamed loonie) attempted to rally against its US peer at the start of this week as investors were willing to buy riskier assets. China, which is preparing liberal reforms, caused the appetite for risk. Yet … “Canadian Dollar Struggles Ahead of Economic Reports”
US Dollar Drops on Federal Reserve Reluctance to Taper
US dollar struggles as it become clear that the Federal Reserve is reluctant to taper. Plus, demand for riskier assets is reducing the interest in the greenback today. US dollar is struggling today, thanks to a combination of risk appetite and the reluctance of the Federal Reserve to begin its taper of the asset purchase program stimulating the US economy. Right now, risk appetite has returned to the markets. US stocks are surging, with the Dow … “US Dollar Drops on Federal Reserve Reluctance to Taper”
Euro Makes Progress on Risk Appetite
Euro is heading higher today, making progress as risk appetite improves. With traders looking for higher yields, the euro is getting a little help, even after the recent rate cut from the ECB. Good news out of China, plus the reluctance of the Federal Reserve to slow its stimulus efforts. Euro is getting a boost today, starting off the week by moving back above the 1.3500 market against the US dollar. … “Euro Makes Progress on Risk Appetite”
Indian Rupee Higher on Fed Stimulus & RBI Policy
The Indian rupee rose today on hopes that the US Federal Reserve stimulus will maintain capital inflows into the Asian country and on expectations of an interest rate hike from the Indian central bank. Last week’s speech of Janet Yellen, the next Fed Chairperson, made speculators believe that the US central bank will keep monetary accommodation intact and such outlook allowed investors to bring their money into emerging markets … “Indian Rupee Higher on Fed Stimulus & RBI Policy”
Australian Dollar Rises as China Plans Reforms
The Australian dollar rose today as signs of economic reforms in China, the biggest trading partner of Australia, improved the risk sentiment of Forex traders and prospects for nation’s exports. Last week, the Chinese Communist Party was discussing the future of the country. The discussions resulted in plans for liberalizing laws, regulations and economy. The Aussie rallied on the news, but gains were limited by prospects for an interest rate cut from the Reserve Bank of Australia. AUD/USD rose from 0.9372 … “Australian Dollar Rises as China Plans Reforms”
Dollar Outlook: Chance to Recover?
The past week was rather negative for the US dollar as it was falling against other currencies (with a notable exclusion of the Japanese yen, which dropped for the third straight week against the US currency). What can the coming week bring to the greenback? The major driver for the dollar recently was the speculations about possible tampering of Federal Reserve quantitative easing. The speech of the next Fed Chairperson confused the Forex market as during one session … “Dollar Outlook: Chance to Recover?”