The Australian dollar gained today against its other most traded peers with the help of inflation data. The solid report improved the monetary policy outlook, giving additional support to the currency. The Consumer Price Index rose 0.4 in the December quarter of 2015 from the previous three months while the trimmed mean CPI was up 0.6 percent. Both readings were above market expectations. The helpful data reduced chances for an interest … “Australian Inflation Data Makes Aussie Stronger”
Month: January 2016
Fed decision: hard to keep it balanced – 4 scenarios
The Fed made history in December by raising the rates for the first time in nearly a decade after an extremely long preparation. Despite putting an emphasis on inflation, Janet Yellen and her colleagues expressed confidence and according to their own dot-plot, they are theoretically on track to hike rates 4 times in 2016. An … “Fed decision: hard to keep it balanced – 4 scenarios”
GBP/USD: Trading the British Preliminary GDP
British Preliminary GDP, one of the most important economic releases, is published each quarter. GDP measures production and growth of the economy, and is considered by analysts as one the most important indicators of economic activity. A reading which is better than the market forecast is bullish for the pound. Update: UK GDP as expected with … “GBP/USD: Trading the British Preliminary GDP”
GBPJPY Looks To Strengthen More On Bull Pressure
GBPJPY: Having rallied to take back its Monday losses on Tuesday, GBPJPY looks to strengthen more on bull pressure. On the downside, support comes in at the 169.00 level where a violation will aim at the 168.00 level. A break below here will target the 167.00 level followed by the 166.00 level. Its daily RSI … “GBPJPY Looks To Strengthen More On Bull Pressure”
How To Not Let Anxiety Cut Your Profits Short In Forex
A typical error many traders fall for is cutting their profits short while letting their losses run. The explanation behind this so common occurrence is simple: when losing, we hope that the market will reverse and we will then be able to make back the loss. When profiting, we get fearful and anxious that market … “How To Not Let Anxiety Cut Your Profits Short In Forex”
Yuan Stable Despite Another Crash of Chinese Stocks
For some time now, Chinese authorities were trying to stabilize the yuan that has been under heavy selling recently. By the looks of it, they had some success as the currency was relatively stable today despite yet another crash of the nation’s stock market. The People’s Bank of China increased the reference rate for the yuan versus the dollar to 6.5548 today from Monday’s 6.5557. This allowed the currency to be relatively stable today … “Yuan Stable Despite Another Crash of Chinese Stocks”
Rally of Crude Oil Pushes Japanese Yen Back
The Japanese yen reversed its earlier rally during the currency trading session, falling below the opening level against such most-traded currencies like the US dollar and the Great Britain pound. The reason for the drop was the rally of crude oil prices. Yesterday, the decline of crude oil prices was helping the yen by igniting the risk-negative sentiment among traders. Yet today crude bounced, making the safe haven role of the Japanese currency less … “Rally of Crude Oil Pushes Japanese Yen Back”
7 Habits of Successful Brokers
We often discuss habits of traders and ways of becoming a successful trader, yet also the best of traders needs a successful broker to trader with. Here are 7 habits of successful brokers. Guest post by Yael Warman, Content Manager at Leverate Invest in Marketing: Successful Forex and Binary Options brokers know that acquisition is the lifeblood … “7 Habits of Successful Brokers”
FOMC will NOT be a dove-fest – SEB, BNP Paribas
After the Carney Carnage, the BOJ’s beating of the yen and Draghi’s dovishness, many expect the Fed to send a dovish message and to weaken the dollar. This may not be the case. Here are two opinions: Here is their view, courtesy of eFXnews: SEB: After the fireworks in December, we expect only small changes … “FOMC will NOT be a dove-fest – SEB, BNP Paribas”
GBPUSD Faces Downside Pressure On Price Failure
GBPUSD: With the pair continuing to hold on to its downside pressure, GBPUSD faces downside pressure on price failure though with caution. Support lies at the 1.4200 level where a break will turn attention to the 1.4150 level. Further down, support lies at the 1.4100 level. Below here will set the stage for more weakness … “GBPUSD Faces Downside Pressure On Price Failure”