A new forex social network has been launch in Cyprus. The team behind iResearchFX aims to provide the best web based charts available and it allows users to exchange trading ideas and compare performance. For more, here is the press release: Limassol, Cyprus, 9th of May 2014 – iResearchFX, a pioneering team of traders practicing technical … “iResearchFX – a new forex technical analysis community”
Month: May 2014
OANDA appoints former Alpari UK CEO as Managing Director
OANDA, one of the largest forex brokers, has named veteran industry executive Daniel Skowronski as the managing director for Europe. The company sees strong growth potential for the region. OANDA recently launched an Online Marketplace for forex traders. For more about the appointment, here is the official press release: LONDON – May 13, 2014 – OANDA, a global … “OANDA appoints former Alpari UK CEO as Managing Director”
NZ Dollar Rallies, Struggles to Keep Gains
The New Zealand dollar gained today but had hard time keeping gains as macroeconomic reports from China, the biggest trading partner of the South Pacific nation, were somewhat disappointing. Today’s data from New Zealand showed growth of food prices, while a bunch of important economic reports will be released at the start of tomorrow’s trading session. China’s economic indicators missed analysts’ expectations. Industrial production grew 8.7 … “NZ Dollar Rallies, Struggles to Keep Gains”
Sterling Shows Weakness Ahead of Important Reports
The Great Britain pound demonstrated weakness today ahead of tomorrow’s important economic releases that should guide the currency’s performance for the near future. Similar to most other major currencies, the sterling managed to outperform the euro. It is expected that claims for unemployment benefits will show a drop by 30,700. The unemployment rate should fall by 0.1 percentage point to 6.8 percent according to analysts’ estimates. Bank of England Governor Mark Carney … “Sterling Shows Weakness Ahead of Important Reports”
USDJPY: Gradually Recovering
USDJPY: With USDJPY triggering a recovery higher on Monday and following through higher in today’s trading session, further build up on that gain is likely. On the upside, resistance resides at the 102.77.00 level where a breach will turn focus to the 103.50 level. Further out, resistance is seen at the 104.00 level and then … “USDJPY: Gradually Recovering”
Euro Drops on Bundesbank Report
It really looks as though the eurozone is going to see some further stimulus in the next couple of months, and the euro is down almost across the board on the news. The latest Bundesbank report is supportive of stimulus measures, and that could mean more euro weakness. Germany’s central bank issued a report indicating that it is prepared to back stimulus measures in the eurozone. Some of these stimulus measures include negative deposit … “Euro Drops on Bundesbank Report”
Krona Rallies as Sweden Exits Deflation
The Swedish krona rallied today as the country’s economy exited deflation, while the number of employed persons continued to grow, suggesting that the economy fares well. Statistic Sweden reported that the inflation rate was unchanged in April (0.0 percent change) after falling 0.6 percent in March. The report said: The main factor behind this month´s increase was more expensive international airline tickets (38.8 percent) which contributed upwards … “Krona Rallies as Sweden Exits Deflation”
US Dollar Higher, But Gains Could Be Pared
US dollar is mostly higher today, gaining as other currencies show weakness. However, thanks to the latest retail sales data, some of the greenback’s gains could be pared. Greenback is enjoying a boost today against most of its major counterparts. News that the Bundesbank is ready to support further stimulus in the eurozone is sending the 17-nation currency lower. Dollar is also getting help against high beta … “US Dollar Higher, But Gains Could Be Pared”
Yen Experiences Weakness, Attempts to Recover
The Japanese yen was one of the weakest currencies at the beginning of this week, but today it is trying to recover. The currency pared its losses versus the US dollar and rallied against the euro. It looked like tensions around Ukraine should have increased after Donetsk and Luhansk, the eastern regions of the country, had a referendum about seceding from Ukraine. Yet there were no immediate clashes after the controversial vote … “Yen Experiences Weakness, Attempts to Recover”
GBP/USD: Trading the British Jobs May 2014
UK Claimant Count Change measures the change in the number of people claiming unemployment benefits. Along with the Unemployment Rate, which is released at the same time, it provides a snapshot of the UK employment sector. A reading which is higher than the estimate is bullish for the pound. Here are the details and 5 … “GBP/USD: Trading the British Jobs May 2014”