The Canadian dollar dropped against its US counterpart after crude oil, the main Canada’s export, declined together with other commodities, decreasing attractiveness of the currency. February delivery for crude oil fell down 2.5 percent to $89.23 per barrel. Yesterday it traded at $92.58, the highest level since October 7th, 2008. The stronger US dollar weakened other commodities too, damping demand for the growth-related currencies, including the loonie. … “Canadian Dollar Falls with Crude Oil Prices”
Author: admin_mm
Risk Appetite Saps Strength of Swiss Franc
The Swiss franc was little changed after it dropped yesterday as the rally of stocks caused investors to turn their attention from the safe currencies to the higher-yielding ones. The Stoxx Europe 600 Index rose as much as 1.3 percent, while the Swiss equities gained. The franc advanced 8.1 percent in the previous year versus the basket of 10 major currencies amid demand for safety. It looks like now investors began favor risk. … “Risk Appetite Saps Strength of Swiss Franc”
Pound Jumps as Mortgage Approvals Advance
The Great Britain pound strengthened today after the report showed that the number of the mortgage approvals unexpectedly increased in November. The number of loan approvals for house purchase slightly increased from the October figure of 47,315 to 48,019 in November. The expected value was 46,500. Total lending to individuals rose £0.7 billion in November. GBP/USD jumped from 1.5485 to 1.5627 as of 13:41 GMT today, while GBP/JPY advanced from 126.58 to 128.37. If you have … “Pound Jumps as Mortgage Approvals Advance”
11 Forex Predictions for 2011
Exciting 2010 is behind us, and it’s time to discuss what can happen in 2011. Here are the expectations for currency movements and also for trends in forex trading. It’s very hard to make predictions for a full year, because so much can happen, but there are some trends that can continue or fade away. … “11 Forex Predictions for 2011”
Forex Digital Expo – New Site by FXCM
Following the IPO of FXCM , the American forex broker continues providing news. After expos in Las Vegas, they put an education site which will contain workshops about reading charts, developing trade plans, various presentations, videos and lots more – fxcmexpo.com This joins their large forex portal and the home site of the forex broker. … “Forex Digital Expo – New Site by FXCM”
Forex Volume Falling in 2011?
LeapRate has a prediction for a falling volume of forex trading in 2011, due to many reasons, including regulation, less volatility and saturation. Francesc Riverola brings their full report. Markets in the West may be saturated, but as Francesc mentions, we’re still seeing rapid growth Asia and the Middle East. In addition, I hope that … “Forex Volume Falling in 2011?”
Indian Rupee Slumps as Forecasts Promise Widening Account Deficit
The Indian rupee slumped today on concerns that the nation’s current-account deficit would widen as India’s central bank blocked dollar or euro payments for Iranian oil. India’s current account deficit increased from $12.1 billion in the second quarter of 2010 to $15.8 billion in the third quarter and may jump to $17 billion in the first half of this year, according to the analysts’ forecast. The economists predict that, as a result, the attractiveness of the rupee will fall and the currency … “Indian Rupee Slumps as Forecasts Promise Widening Account Deficit”
5 Points on How to Choose a Forex Broker in 2011
Yes, I know there’s lots of information about how to choose a forex broker, yet new tools are available for assessing brokers, new tools that weren’t available beforehand. Here are 5 points about how to chose a forex broker for the new year: Regulation: Regulated brokers tend to be fairer with their clients. There’s isn’t … “5 Points on How to Choose a Forex Broker in 2011”
Eurozone Manufacturing PMI Drives Euro Up
The euro gained today as the Eurozone Purchasing Managers’ Index rose in December, signaling that the European economy slowly recovers and the fears of the financial crisis may recede. The Markit Eurozone Manufacturing PMI in its final revision advanced to 57.1 in December, the highest reading since April, compared to the previous estimate of 56.8. The growth was led by Germany, France, Austria and the Netherlands. Germany’s PMI climbed from 58.1 in November to 60.7 in December, the highest level … “Eurozone Manufacturing PMI Drives Euro Up”
Video – Technical Levels, Events and more for 2011
On the first interview for 2011, I spoke with Julie Sinha on Forex TV about themes for the new year, technical levels for EUR/USD, GBP/USD and AUD/USD as well as the important events that will rock currencies this week, which already began with lots of action. Enjoy! After still moving on thin volume on the … “Video – Technical Levels, Events and more for 2011”