Canadian dollar is mixed today, thanks in large part to questions about what’s next for the loonie, and for currencies in general. Right now, it doesn’t seem as though many currencies are moving according to market data, and there is a great deal of head scratching going on. Loonie is mixed today, see-sawing against the euro, losing ground to the pound, and gaining against the US dollar. The general trend against the greenback is … “Loonie Mixed as Traders Look for Direction”
Month: May 2014
Greenback Loses Ground on Continued Loose Policy
Even with positive data in the United States, the greenback continues to lose ground against its major counterparts. Today, the dollar index has taken a dive, thanks in large part to the way that continued quantitative easing in the United States makes other currencies attractive. Even though the economic data in the United States has been improving, there are no signs that the Federal Reserve is ready to more aggressively taper … “Greenback Loses Ground on Continued Loose Policy”
Mixed US data boosts dollar volatility
The US dollar experienced a very volatile week last week, with shockingly low GDP data eclipsing the positive jobs growth news, and more volatility expected this week. GDP for the first three months of the year in the US was just 0.1%, substantially lower than the forecast rate of 1.2% and the lowest reading since … “Mixed US data boosts dollar volatility”
The chart that keeps the forex industry awake at night
Market volatility is what keeps traders glued to their screens, what makes them interact more with their trading accounts and makes them pay more commissions to the brokers. Volatility is also essential for bringing more traders seeing opportunities to the world of forex and also what provides news for sites like this one. Despite monetary policy divergence, market … “The chart that keeps the forex industry awake at night”
Trading forex like Nicolas Darvas
Nicolas Darvas was a circus dancer and stock market trader from the 1950s who achieved legendary status by turning $36,000 into over $2 million over three years. As an international performer, Darvas would travel the world and telegram his stock orders to his broker in the US, relying on just his system and print stock … “Trading forex like Nicolas Darvas”
Latest Eurozone Growth Figures Don’t Slow Euro
The latest forecast from the European Commission isn’t slowing the euro down too much in Forex trading today. Even though the latest numbers for the eurozone aren’t as good as expected, the euro is still doing reasonably well today. The European Commission just released its latest forecast for the eurozone. The 18-nation currency region isn’t expected to see the kind of growth previously planned for. Indeed, the eurozone’s inflation rate is expected to be … “Latest Eurozone Growth Figures Don’t Slow Euro”
UK Pound Pulls Back After Friday’s Performance
Last Friday, the UK pound put on quite the show, reaching a level not seen in four years against the US dollar. Today, the pound is pulling back against its major counterparts as Forex traders consolidate and take profits. Friday’s performance was helped along by the jump in manufacturing output. Markit Economics reports that PMI increased to 57.3 in April, up from 55.8 in March. That indicates continued expansion, and indicates … “UK Pound Pulls Back After Friday’s Performance”
India Rupee Fluctuates amid Conflicting Forces
The India rupee fluctuated today as the positive outlook for the US economy was helping riskier currencies, but bad news from China and Ukraine made Forex traders averse to risk. Positive US economic data had a surprising effect on the Forex market, providing almost no help for the dollar but allowing currencies of emerging economies to rally. This week traders were less willing to risk, putting pressure on currencies associated with … “India Rupee Fluctuates amid Conflicting Forces”
Yen Profits from Its Role as Safe Investment
The Japanese yen climbed today as poor macroeconomic data from China and escalating tensions in Ukraine put the Forex market in the risk-off mode, which supported the currency in its role of a safe haven. The HSBC manufacturing Purchasing Managersâ Index was at 48.1 in April, below the preliminary estimate and analysts’ expectations. The reading below 50.0 indicates contraction of the sector. Clashes in Ukraine left more than 100 people dead, reducing chances for a peaceful end … “Yen Profits from Its Role as Safe Investment”
Poor Week for Dollar Despite Fed & NFP
The US dollar experienced rather poor trading week despite many supportive factors that should have bolstered the currency’s performance. There were negative influences too, and it looks like they have bigger impact on the greenback. US economic growth unexpectedly stalled, fueling the weakness of the US currency. The major event for the Forex market this week was the policy meeting of the Federal Reserve, and it looked like the policy announcement … “Poor Week for Dollar Despite Fed & NFP”