Have you been trading Forex long enough to realize that there is considerably more to being a self-directed trader than it first appears? If so, then you understand that there are several considerable challenges to be overcome to get to comfortable, consistent trading. Many traders make the mistake of thinking that sticking to your system, … “Your #1 Obstacle To Succeeding As A Forex Trader”
Month: May 2016
AUD/USD: Trading the Australian Employment Change
Australian Employment Change, which is released monthly, provides a snapshot of the health of the Australian labor market. A reading which is higher than the market forecast is bullish for the Australian dollar. Here are the details and 5 possible outcomes for AUD/USD. Published on Thursday at 1:30 GMT. Indicator Background Job creation is one … “AUD/USD: Trading the Australian Employment Change”
Why is the Canadian dollar not rallying with oil prices?
The Canadian dollar and oil prices are well correlated and for a clear reason: Canada exports the black gold. Oil 33 is often the leader and the C$ follows. Economic indicators do have their impact on the currency, but when there’s nothing out of Canada, oil is the dominating force. However, even when various oil contracts … “Why is the Canadian dollar not rallying with oil prices?”
Weak Inflation Data Doesn’t Stop Pound
UK pound is heading higher today, in spite of weaker than expected inflation data. Sterling is higher against most of its counterparts. Some of the gains are the result of the popularity of a Brexit from the European Union falling a little bit. However, there are enough weaknesses right now that the sterling’s gains might be short-lived. Sterling is heading higher as the faction favoring remaining a part of the European Union pulls … “Weak Inflation Data Doesn’t Stop Pound”
Greenback Mostly Higher on Possibility of Fed Action
US dollar is mostly higher today, gaining ground against many of its counterparts as better than expected data prompts hopes of action from the Federal Reserve. Greenback is down against the pound, but gaining against other counterparts. The latest readings for advanced retail sales, as well as the University of Michigan Confidence Index, are helping the US dollar today. Expectations that the Federal Reserve may act to raise interest … “Greenback Mostly Higher on Possibility of Fed Action”
Euro Mostly Rangebound as Forex Traders Consider Data
Euro is mostly rangebound today as Forex traders and analysts consider data and contemplate the week ahead. The 19-nation currency has been struggling lately, thanks in large part to forecast revisions and data improvements for the US dollar. Last week, the euro traded within well-known ranges, and it appears that this week is off to a rangebound start for the 19-nation currency. Forex traders and analysts are considering the most recent batch of data, … “Euro Mostly Rangebound as Forex Traders Consider Data”
Loonie Rallies Against Major Currencies as Oil Rises
Canadian dollar is heading higher today, gaining ground against its major counterparts as oil prices continue to recover to some degree. There are expectations for more loonie weakness in the future, but for now the currency is ahead. Loonie has been rallying a little bit, thanks in large part to higher oil prices. Oil is gaining right now, as worries about the situation in Nigeria prompt concern about supply. … “Loonie Rallies Against Major Currencies as Oil Rises”
Japanese Yen Unable to Profit from China’s Poor Data
The Japanese yen was among losers on the Forex market today, failing to capitalize on poor economic data released from China over the weekend. The yen had attempted to rally earlier during the current trading session but has failed and is trading lower versus its most-liquid peers. The threat of an intervention and monetary accommodation from Japan’s central bank adds to the downside momentum of the currency. Analysts say that traders are focused … “Japanese Yen Unable to Profit from China’s Poor Data”
Australian Dollar Rises as Chinese Data Fails to Lead Markets
China released a few macroeconomic indicators over the weekend, and all of them were bad. Yet this had little impact on the Forex market and did not prevent the Australian dollar from rallying. China’s industrial production, retail sales, and fixed asset investment in April were not only below the March’s readings but also failed to meet market expectations. Usually, worse-than-expected data from China has a noticeable impact on currencies, … “Australian Dollar Rises as Chinese Data Fails to Lead Markets”
Brexit polls remain tight – GBP and EUR hold on for now
Fresh opinion polls from the UK continue showing a very tight race between the Remain and the Leave camp. In fact, each poll can encourage a different camp and the undecideds can break both ways. The British political scene re-focuses on the June 23rd EU Referendum after a pause for the local elections. Prominent polling firms are … “Brexit polls remain tight – GBP and EUR hold on for now”