There’s a correlation between fear of worsening economic conditions and the interest in forex trading. This can be seen in figures disclosed by big forex portals and also in my internal statistics. Forex trading is at many times an alternative to stock markets. Many forex brokers tease potential customers by pointing out that their stock … “Interest in Forex Grows with Fear”
Author: admin_mm
Canadian Dollar Hits Record High on Global Growth
The Canadian currency traded at the highest level in almost a month after China posted a report indicating a sharpened growth, consequently favoring the loonie’s outlook due to Canada’s exporting economic profile, which is likely to be more favored than the U.S. in the short term of an economic recovery in global scale. The loonie is extremely influenced by the sentiment in equities markets and demand for commodities, specially the crude oil, which rose today favoring the Canadian … “Canadian Dollar Hits Record High on Global Growth”
Crude Oil Above $80 Forces Canadian Dollar Up
Canada is one of the main suppliers of oil to the United States, and as the barrel passed the $80 dollars mark, the Canadian currency found support to extend previous gains as investors return to purchase assets in Canada, favoring the loonie in currency markets. Despite the Bank of Canada position against a strong loonie, the Canadian currency is rallying once again as the crude oil, one of the nation’s main export is extending its rally after it touched … “Crude Oil Above $80 Forces Canadian Dollar Up”
Chilean Peso Hits Record High on 2010 Growth Report
The commodity export driven economy of Chile is set to growth more than previously expected for the next year in a report published today that helped the national peso to reach the highest level in 2009 versus the U.S. dollar. The Chilean peso managed to reach the highest rate in 15 months today after the national central bank affirmed through a report that the economy may grow as much as 4.4 in the next year, indicating that the vigorous … “Chilean Peso Hits Record High on 2010 Growth Report”
Dollar Rises From Record Low
After being traded at the lowest level in 15 months yesterday, the greenback rebounded mainly versus higher-yielding options, as traders indicated that the U.S. currency devaluation could be too high and not compatible with domestic and global economic fundamentals, giving a breather to the greenback. The dollar managed to pare some of its losses today as market sentiment shifted from yesterday’s strong bullish pattern, as well as some major rivals for the greenback had … “Dollar Rises From Record Low”
USD/CAD breaking minor support – the move is fragile
The Canadian dollar built up strength from a few factors and managed to break a minor support line. It’s now back to the levels that it was before the greenback comeback, but has bumps on the way. USD/CAD now trades at 1.0520, after touching the round number of 1.0500. Since the beginning of the week, … “USD/CAD breaking minor support – the move is fragile”
Pound Declines on Pessimistic Credit Rating
The Pound fell versus most of 16 main traded currencies after one of the most respected financial institutions in the world affirmed that the credit situation in the U.K. remain as one of the most delicate among the wealthy nations, decreasing attractiveness for the British currency. Attractiveness for U.K. assets and currency suffered a negative impact today as Fitch Ratings affirmed that the situation in the Great Britain is the least optimistic among countries rated by the Fitch Group as AAA, … “Pound Declines on Pessimistic Credit Rating”
Brazilian Real Rises on G-20 Stimulus
The Brazilian real was one of the most benefit currencies today with the Group of 20 statement indicating that stimulus measures to support the global economic recovery will be extended, increasing risk appetite among traders today that opted for assets in emergent markets. The Brazilian currency climbed today to the highest level in 2 weeks, flirting once again with the $1.70 psychological level with the the U.S. dollar, as several commodities abundant … “Brazilian Real Rises on G-20 Stimulus”
Gold Hits Record High Pushing South African Rand Up
South Africa is one of the world’s largest precious metals producers, and today, as the gold and platinum rose in a session of strong risk appetite, the African nation witnessed a strong bullish pattern in its currency’s chart, as optimism among traders increased. The South African rand reached its highest rate in two weeks after the price of gold reached a record and platinum had its first rate rise in 3 days, attracting traders to purchase … “Gold Hits Record High Pushing South African Rand Up”
Risk Appetite Drives Canadian Dollar Up
The Canadian dollar rallied today versus several currencies and specially against its U.S. counterpart, as stocks and commodities climbed worldwide after the Group of 20 affirmed that is relaxed policy to stimulate the world economy will be extended, increasing risk appetite in trading markets. Canada is one of the most commodities and stocks linked currencies, as the country is a main exporter of its natural resources surplus specially to its neighboring U.S., … “Risk Appetite Drives Canadian Dollar Up”