Canadian dollar is making up some lost ground today, gaining against the US dollar. After disappointing data at the end of last week, the loonie headed lower, but today the Canadian currency is making something of a turnaround. Many Forex traders are looking forward to the interest rate announcement expected from the Bank of Canada on Wednesday. The focus of Wednesday’s Bank of Canada announcement is likely to be the economic commentary that … “Canadian Dollar Makes Up Some Lost Ground”
Month: July 2014
Euro Moves Higher In Spite of Draghi Plan and Economic Data
Euro is moving higher today, even though there is a plan from ECB President Mario Draghi to add another $1 trillion to banks, and even though economic data in the eurozone has proved disappointing. Euro is higher today as risk appetite rules Forex trading. Stocks are up in Europe and in the United States, and traders are looking for yield. The euro is gaining ground against its major counterparts, … “Euro Moves Higher In Spite of Draghi Plan and Economic Data”
Forex Crunch appears on TOP 100 Forex Blogs to Follow
It is a great honor for Forex on the TOP 100 Forex Blogs to Follow in 2014 on ea-coder.com run by Rimantas Petrauskas. You can see a comprehensive list of known and less known forex websites. ea-coder.com
Interview with a successful provider of signal services
Few people know that MQL5.com website visitors spend most of their time on Johnpaul77 signal’s page. It is a leader of the signals rating having about 900 subscribers with the total funds of $5.7 million on real accounts. MetaQuotes have interviewed the signal’s providers. As it turned out, there are four of them. How have … “Interview with a successful provider of signal services”
Risk Aversion Counters Negative Impact of FOMC Comments on USD
It looked like members of the Federal Open Market Committee would make this week very bad for the US dollar by their dovish comments. Yet the currency was rescued by risk aversion that followed news about problems of a major Portugal’s bank. This did not help the greenback to outperform the Japanese yen but allowed the US currency to erase losses versus the euro and to gain on several other currencies, including the Great … “Risk Aversion Counters Negative Impact of FOMC Comments on USD”
Fading Growth Momentum Makes Britain’s Currency Less Appealing
The Great Britain pound slid against most of its major peers today as Forex market participants are becoming increasingly concerned that growth momentum of the UK economy is waning, making the sterling less attractive as an investment vehicle. Britain’s currency was under pressure lately as economic indicators painted much bleaker picture of the UK economic health than they were doing before. Today’s data did nothing to improve … “Fading Growth Momentum Makes Britain’s Currency Less Appealing”
Brazilian Real Picks Up After Central Bank Stays Put
The Mexican peso advanced after the nation’s central bank left its monetary policy unchanged today following the surprise cut last month. The outlook for Brazil’s economy improved, though it is still not overly optimistic. The Banco de Mexico left its key interest rate at 3 percent at today’s meeting after unexpectedly cutting it by 50 basis points in June. The Brazilian economy improved after that but … “Brazilian Real Picks Up After Central Bank Stays Put”
Canadian Employment Provides Nasty Surprise, CAD Sinks
Canadian employment demonstrated strong growth in May and economists were expecting June to follow suit, showing continuous improvement of the labor market. Yet today’s report provided a nasty surprise to those Forex market participants who were hoping to buy the loonie as employment data was not good at all, driving the currency down sharply. Employment shrank by 9,400 in June after rising as much as 25,800 in May, meaning that analysts were … “Canadian Employment Provides Nasty Surprise, CAD Sinks”
Yen Continues to Gain on Risk Aversion
Risk aversion continues to be a theme in the markets today, and the Japanese yen is moving higher as a result. Even with the latest mixed data out of Japan, the yen is heading higher against its counterparts as stocks struggle and as concerns about the eurozone once again come to the fore. Yesterday’s Japanese data was mixed, with Core Machinery Orders dropping a hefty 19.5 per cent, while the Corporate Goods Price Index … “Yen Continues to Gain on Risk Aversion”
US Dollar Retains Upper Hand Against European Counterparts
US dollar is retaining its upper hand against counterparts today as the good news about initial jobless claims offers speculation that an improving jobs situation could lead to an interest rate hike. Even though the latest Fed minutes don’t support the idea of rate hikes anytime soon, there are still many who hope for better outcomes for the greenback. Greenback is higher today against its European … “US Dollar Retains Upper Hand Against European Counterparts”