Today’s report about the decline of New Zealand retail sales weakened the nation’s currency, but the New Zealand dollar regained its strength later and currently trades almost flat versus the US dollar and the Japanese yen, and even posted gains against the euro. Statistics New Zealand reported today that the seasonally adjusted total retail sales value decreased 1.1 percent in December, following the 1.2 percent increase in November. The decrease … “New Zealand Retail Sales Declines, Kiwi Remains Flat”
Author: admin_mm
Money in Motion Currency Trading Sponsored by FXCM
CNBC is airing a new show, solely dedicated to forex trading. The new show, starting on February 25th, will be sponsored by US forex broker FXCM, that puts its foot in the mainstream media. The show on Friday’s will likely summarize the week, as it’s aired in the US afternoon. But Money in Motion will … “Money in Motion Currency Trading Sponsored by FXCM”
Euro Drops as Nations Argue Against Debt-Reduction Measures
The euro fell against most of 16 major currencies today as some nations criticized the plans for battling the debt issues, causing concerns that the sovereign-debt problems won’t be resolved soon. Greece criticized demands of the European Union and International Monetary Fund to sell state assets in order to raise â¬50 billion by 2015 for paying debts. The nation also joined Italy in arguing against annual debt-reduction targets. Irelandâs largest opposition party … “Euro Drops as Nations Argue Against Debt-Reduction Measures”
Poland’s Current Account Deficit Weakens Zloty
The Polish zloty weakened today as Poland’s current account deficit surged. The currency is expected to depreciate further. Poland’s current account deficit almost doubled in December from a year ago as the accelerating economic growth increased consumption. BNP Paribas predicted that EUR/PLN may continue to rise, but it’s required to break through the resistance level of 3.94 to post significant gains. USD/PLN rose from 2.8940 to 2.9222 as of 11:42 GMT, … “Poland’s Current Account Deficit Weakens Zloty”
Dollar Index: Weekly Spike Reversal
After a significant five wave reversal on dollar index from 76.85 region, we decided to look on the weekly chart, which is showing a very bullish set-up for the weeks ahead. You will notice a trend line connected from early 2008 which holds dollar index up for almost 3 years now. In fact, each time … “Dollar Index: Weekly Spike Reversal”
Video – EUR/USD, GBP/USD, AUD/USD and the Egyptian Situation
Speaking on Forex TV with Julie Sinha, I spoke about technical levels for selected pairs, including key levels to watch for. In addition, we discussed teh impact of the events in Egypt on currencies, and some of the important events awaiting us next week. We’re up for a very busy week regarding US and non-US … “Video – EUR/USD, GBP/USD, AUD/USD and the Egyptian Situation”
Is Canadian Dollar Becoming Safe Currency?
The first half of this week wasn’t very good for the Canadian dollar, but the losses were offset in the second half, when the currency surged upward even though the sentiment was favoring safety. The discouraging macroeconomic data and the strong performance of most other currencies have led to the weakness of the Canadian dollar. Yet on Thursday the loonie, as the Canadian currency is often nicknamed, reversed the trend. The gains erased the losses against some currencies and even … “Is Canadian Dollar Becoming Safe Currency?”
Loonie Gains on Canada’s Trade Surplus & Mubarak’s Resignation
The resignation of Egyptian President Hosni Mubarak spurred risk aversion sentiment and pushed up the Canadian dollar that was also bolstered by Canada’s unexpected trade balance surplus today. The Canadian currency continued to show the unusual tendency to move together with the US dollar, rising today after the President Mubarak agreed to step down as the protesters demanded. While some traders hope that such decision may bring stability to the country, … “Loonie Gains on Canada’s Trade Surplus & Mubarak’s Resignation”
US Dollar Gains After Mubarak Resigns
The US dollar extended its gains against most other major currencies today as Egyptian President Hosni Mubarak resigned and handed power to the military, increasing concerns about the political situation in Egypt and spurring demand for safety. Mubarak decided to accept the demands of the protesters and stepped down, giving away power to the Supreme Council of the armed forces. The protesters will likely demand immediate elections to be performed. The traders remained concerned, though, as the power … “US Dollar Gains After Mubarak Resigns”
Even in Forex – Hate the Player, Not the Game
Last week I took on SmartMoney. This week I take on the Prism Money personal finance blog, which is hosted by none other than Reuters, my own employer (it’s a really big company, though, so no, I do not know the author and/or editors responsible). The post in question is Forex folly: Why you shouldn’t be trading … “Even in Forex – Hate the Player, Not the Game”