The British Pound stayed behind in the race to beat the greenback.New QE programs loom over the currency. GBP/USD is still in old ranges and some Pound crosses are in areas not seen in quite some time. GBP/USD reached a peak of 1.5998 at the beginning of August. Since then, it dropped and then recovered. While … “Pound Lags Behind”
Author: admin_mm
Hungarian Forint Rises on Austerity Pledges & Economic Outlook
The Easter European currencies, including the Hungarian forint, were rising today as the improving sentiment about Europe’s economy and the governments’ pledge to cut the budget deficits attracted the foreign funds. The Hungarian government pledged to narrow the nation’s budget deficit below 3 percent, causing the speculation that Hungary’s rating wouldn’t be downgraded by the Standard & Poorâs. The Hungarian currency was also helped by the improving outlook for the whole European economy, caused by the growing … “Hungarian Forint Rises on Austerity Pledges & Economic Outlook”
Krona at Two-Year Record on Outlook for Monetary Tightening
The Swedish krona rose today to the highest level in two years versus the US dollar on the speculation that the central bank would perform its monetary tightening plans and as the economic data was favorable. The Riksbank said it would increase the benchmark repo rate more than 2 percentage points over the next two years to about 3 percent. The reports showed that the manufacturing expanded for the 16th straight month, while the consumer … “Krona at Two-Year Record on Outlook for Monetary Tightening”
Aussie Drops from Two-Year Record, Remains Strong
The Australian dollar fell today, after reaching the highest level in two years against the US dollar, as the report showed that the new home approvals declined in August, causing the speculation that the central bank wouldn’t raise the interest rates next week. The Australian Bureau of Statistics reported today that the number of the new building approvals dropped 4.7 percent in August, compared with 0.1 percent increase in the month before. The experts expected … “Aussie Drops from Two-Year Record, Remains Strong”
Canadian Dollar Goes Up After Report on GDP
The Canadian dollar rose today for the first time in four days against the dollar and in five days versus the euro after the report showed that the decline of Canada’s economy was in line with the forecasts. Jim Flaherty, Canada’s Minister of Finance, said yesterday that the economic data may be negative and the analysts estimated that Canada’s economy shrank 0.1 percent. The report today about Canada’s gross domestic product proved these … “Canadian Dollar Goes Up After Report on GDP”
Canadian Contraction – A Sign for the US?
The Canadian economy squeezed by 0.1% in Jult, the first month of Q3. While the figure came out within expectations, it’s a warning sign for Canada’s biggest trade partner – the USA. Canada is unique in releasing GDP figures on a monthly basis, rather than once a quarter. After excellent growth first quarter, and an … “Canadian Contraction – A Sign for the US?”
Chinese Yuan Depreciates for First Time in 13 Days
The Chinese yuan went down today for the first time in 13 days on the speculation that China wouldn’t increase the pace of the yuan’s appreciation in the response to the US threats of the trade sanctions. The House of Representatives voted yesterday in a favor of the measures that would let the US companies to petition for the duties on the Chinese imports to compensate for the effect of the weak yuan. The Chinese government claims that too fast appreciation of the yuan may cause the job losses and the social instability … “Chinese Yuan Depreciates for First Time in 13 Days”
This Emotion Will Destroy Your Trading Career
Guest post from visionsofaffluence.com So you just had a few good trades and now you feel like you’re on top of the world. You feel like you finally have this forex trading thing down and that from here on out everything that you touch will turn to gold. You are unstoppable and pretty soon you will … “This Emotion Will Destroy Your Trading Career”
Euro Falls vs. Yen After Spain’s Credit Rating Downgraded
The euro slid against the Japanese yen on the concerns for the costs required to bailout Ireland’s banks and after Spain’s credit rating was downgraded. The currency rose against the US dollar. Ireland’s central bank said the Anglo Irish Bank Corp. and Allied Irish Banks Plc would require more money to bailout, perhaps as much as â¬14.4 billion ($19.6 billion). The Moodyâs Investors Service downgraded Spain’s debt rating from Aaa to Aa1, … “Euro Falls vs. Yen After Spain’s Credit Rating Downgraded”
Aussie Reaches Parity with Loonie, Rises vs. Greenback
The Australian dollar rose to the highest level in six years against its Canadian counterpart and gained versus the US currency on the outlook for the faster economic growth in China. The Aussie and the loonie are both related to growth and considered to commodity currencies. Therefore they are generally driven by the same factors. The key reason for their different performance is their export markets. Australia mainly exports to Asia, particularly China, while Canada’s main trading … “Aussie Reaches Parity with Loonie, Rises vs. Greenback”