The Canadian dollar strengthened as the unrest in Libya caused the prices for crude oil to jump to the highest level in 29 months, increasing attractiveness of the currencies related to economic growth. The tensions in North Africa and Middle East have two-sided effect on the Canadian currency. On one side, they caused the market sentiment to shift towards risk aversion, which is negative for the loonie. On the other side, they caused the rally of some commodities, especially crude oil â … “Loonie Rises as Libyan Uprising Spur Oil Prices to 29-Month High”
Author: admin_mm
Swiss Franc Rise to Record as Traders Shun Risk
The Swiss franc rallied to the record against the US dollar as the attempts of Libyan leader Muammar al-Gaddafi caused traders to avoid risk. The Swiss franc is considered to be a safe currency, attractive in times of uncertainties, and the conflicts in Libya and other countries of the region bring a lot of uncertainty on the markets. The MSCI World Index of shares fell 0.2 percent and the Stoxx Europe 600 Index dropped 0.6 percent. Futures on crude oil climbed to $119.79 per … “Swiss Franc Rise to Record as Traders Shun Risk”
Rally of Oil Bolsters Russian Ruble
The Russian ruble advanced today as oil rallied to the highest level in 30 months on the concerns about supplies from Africa and Middle East. Brent crude oil, the largest export revenue earner of Russia, jumped as much as 7.7 percent to $119.79 per barrel, the highest level since August 2008, on the concerns that the conflict in Libya, Africaâs third largest producer, will reduce supplies. Oil has risen 24 percent this year … “Rally of Oil Bolsters Russian Ruble”
Automated Mirror Trading Launched by Signal Trader
Signal Trader, from the founders of ForexPros, launched automated mirror trading Signal Trader partnered with FXCM, Gain Capital and Ava FX for enabling automatic trading. This is another tools for copying trades of other traders, similar to what Currensee does. Similar to Currensee, the accounts that can be followed are real live account. Different than … “Automated Mirror Trading Launched by Signal Trader”
Elliott Wave Video- Detailed Look At Cad/Jpy and Chf/Jpy
In the next video we will discuss about Cad/Jpy and Chf/Jpy where both pairs are trapped in a corrective phase already for more than two years now. In the video below will make a detailed technical outlook for these two pairs, and where prices are likely headed in the next few months. The method that … “Elliott Wave Video- Detailed Look At Cad/Jpy and Chf/Jpy”
Rand Strengthens as Government Won’t Intervene
The South African rand advanced as the South African officials said that they’re not planning a particular rate of exchange for the currency and are more worried about a depreciation than about an appreciation. Central bank’s Governor Gill Marcus said: The objective for us is to address the volatility of the currency and we do not target a particular rate of exchange. Finance Minister Pravin Gordhan said that a sharp depreciation of the nation’s currency can spur … “Rand Strengthens as Government Won’t Intervene”
Aussie Gains as Australian Economy Improves
The Australian dollar rose today against 15 of 16 most-traded currencies as the reports showed that the private capital expenditures increase and the leading indicators rose in December. The seasonally adjusted capital expenditure rose 1.3 percent in the last quarter of 2010. The growth was slower than in the previous quarter because of the impact of the flooding in Queensland. The Conference Board Leading Economic Index increased 0.7 percent in December. That’s compared to 0.2 percent in November. The good … “Aussie Gains as Australian Economy Improves”
ForexPlace Cleared of Charges in Preliminary Court Hearing
One month ago, I’ve reported about an attachment order against 4XP. Well, now the tables have turned in this case, as a preliminary court hearing now clears the company of wrongdoings, at least for now. Here are the full details, as given by the company: Following the initial shock of the alleged misconduct on Forex … “ForexPlace Cleared of Charges in Preliminary Court Hearing”
Pound Gains as More Policy Makers Vote for Rates Increase
The Great Britain pound rose today, erasing yesterday’s losses versus the US dollar, as third policy maker of the Bank of England joined those who are voting for an increase of the interest rates. The majority of the policy makers still believe that the rates should be left unchanged but the increasing number of the central bank’s members voting for an increase fuels the anticipation of the rates hike. The minutes of the Monetary Policy Committee said that: Andrew Sentance … “Pound Gains as More Policy Makers Vote for Rates Increase”
FX Pairs Mirror Oil Concern
Surging oil prices and a ravenous German economic growth rate, contributes towards a looming shadow of Euro Zone inflation. As a result, market sentiment is rife with conjecture surrounding a Euro interest rate adjustment and increasingly tied to the utterances of ECB members. ECB member, Yves Mersch shifted market balance towards a potential interest rate … “FX Pairs Mirror Oil Concern”