The Malaysian ringgit rallied together with other Asian currencies today as signs of economic growth in the United States and China, two biggest world economies, increased risk appetite among Forex market participants. It turned out that good employment data from the USA had an unexpectedly positive impact not only on the currency of one of the US major trading partners but on other risky currencies as well. The ringgit was one … “Malaysian Ringgit Profits from Signs of Growth in USA & China”
Month: July 2014
Euro Lower Pretty Much Across the Board
Euro is lower pretty much across the board today, heading down as Forex traders consider policy divergence and whether or not the periphery countries will be able to sustainably move out debt. Even though trading is relatively light today, thanks to the Independence Day holiday in the United States, there is still some movement. Right now, most of the euro’s movement is lower. Many Forex traders are … “Euro Lower Pretty Much Across the Board”
Economic Data Helps Pound Against Euro
The pound may be retreating a bit against some of its counterparts, but sterling is seeing solid support against the euro today. Thanks to the latest round of economic data, pound is gaining against the euro, even though it is down against currencies like the yen and the dollar. A round of positive data gave the pound a bit of a boost yesterday, and today the sterling is still seeing some help from that … “Economic Data Helps Pound Against Euro”
Interview with Vatsa Narasimha, EVP and CSO at OANDA
We hereby present an interview with Vatsa Narasimha, Executive Vice President and Chief Strategy Officer at OANDA Corporation. In the interview Narasimha discusses the integration of Currensee’s features in OANDA’s platform, details about “Circuit Breakers” protection and touches other various topics. Enjoy: Congratulations for the successful integration of the Trade Leaders program in OANDA. How did the … “Interview with Vatsa Narasimha, EVP and CSO at OANDA”
The Truth About Trading – What You Need to Know
When people first start trading, their dreams are usually to make a lot of money in a short time frame. They dream of becoming millionaires , owning Ferraris, living in penthouses and all that good stuff. It usually takes a dose of huge losses to awaken people out of this euphoric state and put them … “The Truth About Trading – What You Need to Know”
Positive US Employment Data Leads to Massive Gains for CAD
Very good employment data from the United States fueled the strength of the US currency but it also led to massive gains of the Canadian dollar yesterday, which the loonie managed to maintain today. Recently, it was usual for positive data from the USA to boost greenback and drive riskier commodity currencies down. Yet the loonie is in a different position that most other currencies as the United States are the major trading partner … “Positive US Employment Data Leads to Massive Gains for CAD”
Dollar Heads Higher with Jobs Boom in June
US dollar is heading higher today, gaining ground, thanks to a jobs boom for the month of June. The latest nonfarm payrolls report from the US government shows expansion, as well as a drop in unemployment. The good news is pushing the dollar higher on expectations that the Federal Reserve will soon have to end easing sooner rather than later. The employment situation in the United States appears to be improving. According to the Labor Department, nonfarm … “Dollar Heads Higher with Jobs Boom in June”
Sterling Under Pressure from Services PMI, Maintain Bullishness
The Great Britain pound fell against the US dollar today after the gauge of the services sector fell more than was expected. The sterling is still trading near the highest level since 2008 and was able to maintain its gains versus the Japanese yen. The Markit/CIPS UK Services Purchasing Managers’ Index dropped from 58.6 in May to 57.7 in June, though the report said that the reading is “nonetheless indicative of a sharp … “Sterling Under Pressure from Services PMI, Maintain Bullishness”
Euro Struggles After ECB Decision
Euro is struggling today, following the latest decision from the European Central Bank. As expected, interest rates remain where they were set last month. However, some were surprised that ECB policymakers have yet to move on other stimulus measures. Thanks in large part to policy divergence, the euro is struggling against many of its major counterparts today. The ECB announced that it is keeping its … “Euro Struggles After ECB Decision”
Riksbank Surprises with Big Interest Rate Cut, Swedish Krona Plunges
The Swedish krona crashed today as the nation’s central bank cut its repo rate more than analysts have expected and promised to keep it low till the end of the next year. The bank also cut its growth and inflation estimates. The Riksbank cut its main interest rate by half a percentage point (instead the expected quarter of a percentage point) to 0.25 percent. The central bank had rather positive view on the global economy, … “Riksbank Surprises with Big Interest Rate Cut, Swedish Krona Plunges”