The Australian dollar fell today after the Reserve Bank of Australia held its monetary policy meeting, but managed to rebound later and now trades near the opening level against the Japanese yen and above the opening versus the US dollar. The RBA kept its main interest rate at 2.5 percent today. The statement was almost unchanged from the previous one and central bank’s Governor Glenn Stevens was again complaining that … “Aussie Manages to Rebound After RBA Meeting”
Month: December 2013
Spotware offers netted accounts and hedged accounts under a
Spotware Systems, the software provider behind the cTrader trading platform, launched a new feature that allows managing hedged and netted accounts in one environment. Spotware recently introduced “Extreme Transparency” in its cTrader suite. For more on the single environment, here is the official press release: Spotware Systems, developer of the popular FX and commodities trading platforms … “Spotware offers netted accounts and hedged accounts under a”
AUD/USD: Trading the Australian GDP Dec 2013
Australian Gross Domestic Product (GDP) is a measurement of the production and growth of the economy, and analysts consider GDP one the most important indicators of economic activity. A reading which is better than the market forecast is bullish for the Australian dollar. Here are all the details, and 5 possible outcomes for AUD/USD. Published … “AUD/USD: Trading the Australian GDP Dec 2013”
Forex Crunch Key Metrics November 2013
The month of November saw a continued slide in site statistics in comparison with October. However, the year over year advance from November 2012 is over 20% in both page views and unique visits. The same phenomenon happened back in 2012. Here are all the numbers: Website Page Views: 460,556. Visits: 188,989. Visitors: 69,065. Time … “Forex Crunch Key Metrics November 2013”
CAD Slides vs. USD Ahead of BoC Meeting, Stronger vs. EUR & JPY
The Canadian dollar slid today against its US counterpart, but managed to log gains versus the euro and the Japanese yen. This week should be important for the currency as the Canadian central bank conducts its monetary policy meeting on Wednesday. The Bank of Canada will announce its monetary policy decision on December 4. It is expected that the bank will not make any changes to policy, but the wording of the statement … “CAD Slides vs. USD Ahead of BoC Meeting, Stronger vs. EUR & JPY”
Sterling Rises with PMI, Sheds Gains
The Great Britain pound was rising today as the gauge of Britain’s manufacturing increased last month, exceeding expectations. Yet the currency shed part of its gains as of now and actually trades below the opening level against the US dollar. The Markit/CIPS UK Manufacturing Purchasing Managers’ Index rose from 56.5 in October to 58.4 in November. The median analysts’ estimate promised that the index would stay unchanged. The sector was expanding for the eighth consecutive … “Sterling Rises with PMI, Sheds Gains”
Ed Eger is the new OANDA CEO and President
OANDA, one of the largest forex brokers, announces the appointment of Ed Eger as the new president and CEO. He was previously with PayPal and with CitiBank. OANDA’s previous CEO, K Duker, has been appointed back in May 2012, taking over from founder Michael Stumm. For more details, here is the official press release: TORONTO – … “Ed Eger is the new OANDA CEO and President”
Euro Loses Ground on Mixed PMI Report
Euro is mostly lower today, thanks in large part to the fact that there are mixed results in the latest PMI report. Concerns about the ability of the eurozone to sustain its recovery moving forward are manifesting following the latest mixed data from member countries. The latest reports from Markit show that, while PMI improved overall for eight countries in the eurozone — rising from 51.3 to 51.6 — there are still … “Euro Loses Ground on Mixed PMI Report”
US Dollar Gains Ground on Boost from Fed Speculation
Once again, speculation about what’s next for the Federal Reserve is driving the US dollar in Forex trading. This time, it’s speculation that the Fed could actually begin tapering its asset purchases by the end of the year. US dollar is getting a boost today, heading higher against most of its major counterparts as speculation begins anew that the Federal Reserve could decide to start tapering its asset purchase … “US Dollar Gains Ground on Boost from Fed Speculation”
No Respite for Yen amid Risk Appetite & Monetary Accommodation
The Japanese yen fell today yet again as signs of growth in major world economies reduced demand for the currency as a safe haven, while persisting monetary accommodation in Japan continues to eat away the yen’s strength. Expansion of China’s manufacturing made Forex traders prefer growth-related currencies to safer ones. The manufacturing sector of the eurozone and Great Britain was expanding too, adding to risk appetite. Meanwhile, Bank of Japan Governor Haruhiko Kuroda reiterated … “No Respite for Yen amid Risk Appetite & Monetary Accommodation”