The Canadian dollar weakened as the disaster in Japan cut prices for crude oil and other raw materials and damped demand for currencies linked to economic growth, including the loonie. The earthquake, tsunami and the threat of radiation leak from the damaged nuclear plant in Japan hurt risk sentiment and commodities. This is bad for Canada and its currency as raw materials provide about half of the nation’s export revenue. The Thomson Reuters/Jefferies CRB Index of raw materials fell … “Canadian Dollar Falls on Lower Oil Prices”
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Dollar Weakens as Fed Maintains Stimulus
The US dollar paired its gains versus the euro and fell against other major currencies as the Federal Reserve decided to keep the interest rates at the record low level and to maintain its assets purchasing program. The Federal Open Market Committee said in its statement today that “the economic recovery is on a firmer footing”. The FOMC added that the jobs market is improving, but the unemployment remains high. On the other hand the housing sector … “Dollar Weakens as Fed Maintains Stimulus”
Markets.com as a new brokerage partner for Signal Trader
Signal Trader, which provides mirror trading (similar to Currensee) , doen’t rest after the launch. After partnering with FXCM, Gain Capital and AVA, they’ve added another local, Israeli partner: Markets.com. This is a significant expansion to their network. For more details, here’s the full press release: SignalTrader.com, the advanced solution for automated trading and live … “Markets.com as a new brokerage partner for Signal Trader”
Rand Falls on Risk Aversion Following Earthquake in Japan
The South African rand slumped today as the earthquake, tsunami and the radiation leak from the damaged nuclear plant in Japan decreased investors’ willingness to risk and curbed appeal of higher-yielding currencies. The disaster and the resulting risk aversion may cut short foreign inflows into the South African economy. Societe Generale recommended traders to sell the rand against the dollar. USD/ZAR surged from 6.8160 to 7.0070 as of 12:29 GMT today, erasing the losses of the previous two … “Rand Falls on Risk Aversion Following Earthquake in Japan”
Yen Jumps on Fears of Radiation Leak from Nuclear Plant
The Japanese yen gained today as the Japanese investors are expected to bring their overseas assets back to Japan on the concern about the radiation leak from the nuclear plant. Fukushima Dai- Ichi plant of Tokyo Electric Power Company was damaged last week by the earthquake and the subsequent tsunami. Prime Minister Naoto Kan spoke on television, urging to stay calm and saying that the government doing everything possible to prevent the radiation leak from … “Yen Jumps on Fears of Radiation Leak from Nuclear Plant”
USD/CHF Ready To Break Below 0.9200-Elliott Wave Update
Since the last update (published here), Usd/Chf moved into a range for a few days, before pair reversed back down 0.9200 support, which was tested this morning. Looking at the upadted chart, we can see a nice clear triangle completed around 0.9350 region. Guest post by Gregor Horvat We know that triangles unfold just prior … “USD/CHF Ready To Break Below 0.9200-Elliott Wave Update”
Forex Market Interview with Quantitative Strategist, David Rodriguez from
We are pleased to share a forex interview on this week’s major events and forex trends with the quantitative strategist at DailyFX.com, David Rodriguez specializes in statistical studies in currency trading markets and algorithmic trading systems for the Managed Accounts Programs offered by parent company, FXCM. He holds a degree in Economics from Williams College … “Forex Market Interview with Quantitative Strategist, David Rodriguez from”
US Dollar Weakens as OPEC Lowers Treasury Holding
The US dollar fell today as the nations of the Organization of the Petroleum Exporting Countries slashed their holding of the US debt because the rising oil prices decreased their need for the US currency. The Treasuries in holding of the oil-producing countries and the institutions representing nations of Middle East dropped 9 percent to $654.6 billion in the second half of the last year. Analysts expect that the selling of the US debt will continue. Greg Anderson, the currency strategist at Citigroup Inc., … “US Dollar Weakens as OPEC Lowers Treasury Holding”
Pound Gains as Britain May Keep Its Rating, Raise Interest Rates
The Great Britain pound posted the impressive gains today after Fitch Ratings said that the UK should keep its top credit rating and as the talks about an increase of the interest rates renewed. Fitch said that the âprincipal riskâ to Britain’s credit rating is the slower than previously estimated economic recovery, yet it’s not “sufficiently material” to warrant a downgrade of the nation’s AAA rating. Fitch analyst Maria Malas-Mroueh said … “Pound Gains as Britain May Keep Its Rating, Raise Interest Rates”
Forecast: Yen May Go Down on Intervention and BoJ Rates Decision
The Japanese yen rose sharply on the last Friday after the earthquake hit the country, spurring risk aversion and demand for the currency as a safe haven. Today the currency slipped as the government and the central bank attempt to deal with the results of the disaster. Can the Japanese currency still profit from the fears, caused by the tremor, or itâs going to extend its losses? The earthquake and the subsequent explosion at Fukushima nuclear plant added to the uncertainty, caused by the tensions in North Africa and Middle … “Forecast: Yen May Go Down on Intervention and BoJ Rates Decision”