The South African rand rose today against the U.S. dollar, the second day of gains after the currency tumbled previously, after the EU leaders ensured that the budget cuts won’t bring the European economy down, causing the risk appetite to return; later the rand declined and currently trades near its opening level. The planned budget cuts are required only from the countries with the significant debts such as Portugal and Spain, while … “Rand Strengthens on Prospect for Favorable Outcome of EU Crisis”
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EU Crisis Saps Brazilian Real of Its Strength
The Brazilian real slid today as the widening crisis in the European Union caused pessimistic outlook for the global economic recovery and made the investors’ sentiment shift towards the risk aversion. The concern about the possible decreasing quality of the banks’ bonds holdings in the debt-laden countries caused the borrowing costs to increase. The yield on January contracts dropped 0.02 percentage point to 11.06 percent. EUR/BRL traded near 2.2332 today as of 10:15 GMT after opening at 2.2301. USD/BRL … “EU Crisis Saps Brazilian Real of Its Strength”
5 Limitations of Back Testing
There are lots of forex trading system and EAs out there. Some may be good and others can be bad. While it’s definitely a good start, it isn’t bullet proof. Expert Advisors (EAs) are small pieces of software that automatically open and close forex positions according to the code written inside. MetaTrader has an excellent … “5 Limitations of Back Testing”
Australian Dollar’s Appreciation May be Slowed
The Australian dollar declined as the minutes of the central bank policy makers’ meeting suggested that there will be the pause on the increase of the interest rate and as the global markets remain sluggish because of the European debt crisis. The Reserve Bank of Australia may keep the interest rates at the current 4.5 percent level as the policy makers think that the borrowing costs are at the average level. As the investors are attracted to the region by the high interest rates the pause on the increase … “Australian Dollar’s Appreciation May be Slowed”
Sterling Falls on Concerns About U.K. Budget Cuts
The Great Britain pound fell today against most other major currencies, including the U.S. dollar and Japanese yen, on the concerns about the nation’s budget shortfall and after the report that the house prices in London declined. The average house price in the U.K. capital dropped 0.4 percent from April. David Cameron, the Prime Minister of the U.K., said that he saw evidences of “very bad practice, spending decisions taken in the last year … “Sterling Falls on Concerns About U.K. Budget Cuts”
EU Crisis Won’t Go Away, Euro Weakens Further
The euro extended its decline today amid the concerns that the actions, taken by the EU leaders to rein the debt crisis, will curb the region’s economic growth and may even lead to the dissipation of the Euro-zone. Jean-Claude Trichet, the President of the European Central Bank, called for the “quantum leap”, the reformation of the way the countries’ spending is controlled and the budgets are determined: There is a need for a quantum leap in the governance of the euro area. There need to be major … “EU Crisis Won’t Go Away, Euro Weakens Further”
Australian Dollar Falls on Concern for Demand & Interest Rates
The Australian dollar fell versus its U.S. counterpart today on the concern that the fiscal crisis in Europe will impact the global markets, eroding the demand for the riskier currencies, and on speculation that the central bank won’t raise the interest rates in June. The troubles in Europe persist, damping the equities and the prices for the commodities and, as a result, hurting the currencies tied to growth, including the Aussie. The analysts say there are doubts that the central bank will increase … “Australian Dollar Falls on Concern for Demand & Interest Rates”
Top 5 Forex Forums
Here are my top 5 choices, according to their design, structure, level of activity of the spam-fighting. Online forums supply a need to share and communicate with fellow traders while sitting alone in front of the computer. A simple Google search for forex forums will yield many more results in the front page, but not … “Top 5 Forex Forums”
Still Looking For That Perfect Indicator?… Stop That Right
Guest post by Jason Madison, independent trader and founder of BeatWallStreetNow.com How many times have you been burned because an indicator got you into a trade too late? Well that is a common problem that many traders face because indicators by their very nature are lagging. An indicator will only tell you about a move after … “Still Looking For That Perfect Indicator?… Stop That Right”
Dollar Strengthens vs. Euro & Pound, Declines vs. Loonie & Yen
The U.S. dollar rose against most other major currencies as the government reports signaled about the stable recovery of the U.S. economy, while other countries were troubled either with internal problems or by the impact of the European debt crisis on the global markets; the U.S. currency was experiencing volatility versus the Japanese yen and fell against it by the end of the week, also dropping against the Canadian dollar. The greenback was advancing steadily against the euro, … “Dollar Strengthens vs. Euro & Pound, Declines vs. Loonie & Yen”