The Great Britain pound wiped out its earlier gains after the results of a referendum showed that people of Scotland decided to remain in the United Kingdom. The currency was rising previously as traders were counting exactly on this outcome. Scotland rejected independence as 55 percent of the Scotsmen voted ‘no’ against 45 percent that voted ‘yes’. So why the pound has fallen even though Forex market participants were buying … “Scotland Rejects Independence, Pound Erases Gains”
Month: September 2014
FxPro SuperTrader at UK wins Forex Product of the Year
FxPro continues its winning streak of awards and has now won the the Forex Product of the Year award for its FxPro SuperTrader product in the Forex Awards. SuperTrader is a curated copy trading platform. For more on the prize, here is the official press release: 19 September 2014, London. FxPro Group Ltd (FxPro) saw its FX investment … “FxPro SuperTrader at UK wins Forex Product of the Year”
Market Movers Episode #16: Risk Reward Ratio, Digesting the
What is a risk-reward ratio and why is it important? We explain and also discuss the right and wrong way to incorporate the ratio in your system. Why did the dollar rally on the FOMC meeting? 5 reasons are provided and we look forward. Last but not least, we discuss the recent wobbles around China. Welcome … “Market Movers Episode #16: Risk Reward Ratio, Digesting the”
US interest rate cycle close to turning – should
In the dry world of monetary policy something very significant is happening – the US interest cycle looks close to turning and when it does it will be a historic event which could further realign forex levels. Versus a basket of currencies, USD is already at its highest levels since 2010 and has the capability … “US interest rate cycle close to turning – should”
Sterling Jumps on Speculations Scotland Will Remain in UK
The Great Britain pound demonstrated solid gains at the previous trading session as well as at the current session, though retreated a bit from today’s highs. The currency was lifted by speculations that Scotland will remain a part of the United Kingdom after yesterday’s referendum. Citizens of Scotland were voting yesterday at a referendum about country’s independence from the UK. While the results are not known as of yet, the latest polls showed that there were … “Sterling Jumps on Speculations Scotland Will Remain in UK”
US Economic Indicators Lead to Mixed Performance of USD
The US dollar consolidated against the euro today after dropping yesterday. The currency also sank versus the Great Britain pound at the previous trading session and continued to fall at the current session. The greenback extended its rally against the Japanese yen. The latest US economic indicators from the United States were mixed. On one hand, housing starts and building permits fell last month, trailing economists’ forecasts. On the other hand, initial claims … “US Economic Indicators Lead to Mixed Performance of USD”
Norges Bank Plans No Interest Rate Cuts, Krone Jumps
The Norwegian krone jumped after Norway’s central bank refrained from an interest rate cut at today’s policy meeting. What is more, bank’s chief Oeystein Olsen hinted at a possibility of an interest rate hike after 2015. The Norges Bank kept its key interest rate at 1.5 percent today. The statement dropped the mention of a possibility of a rate cut. In fact, Governor Olsen mentioned a likelihood of higher interest rates later in the future: … “Norges Bank Plans No Interest Rate Cuts, Krone Jumps”
Swiss Franc Jumps as SNB Keeps Policy Unchanged
The Swiss National Bank refrained from loosening its already very accommodative monetary policy even further at today’s policy meeting, resulting in big gains for the Swiss franc. The currency rallied even though the central bank suggested that it may intervene in case economic conditions continue to deteriorate. The SNB decided to keep its monetary policy unchanged today. The tone of the statement was rather pessimistic as the central bank said: The economic … “Swiss Franc Jumps as SNB Keeps Policy Unchanged”
Scotland Referendum: Timetable for forex traders
The historic referendum deciding whether Scotland should be become an independent country happens September 18th. The results are expected after the US markets close and before London opens. This means that the foreign exchange market is the best place to be for seeing and perhaps trading on the news as they break – news which is critical for the … “Scotland Referendum: Timetable for forex traders”
USD/JPY: Trading the Philadelphia Index September 2014
The Philadelphia Fed Manufacturing Index is an important leading indicator, and is based on a survey of manufacturers in the Philadelphia area. It examines manufacturers’ opinions of business activity, and helps provides a snapshot of the health of the manufacturing sector. A reading which exceeds the forecast is bullish for the dollar. Update: Philly Fed … “USD/JPY: Trading the Philadelphia Index September 2014”