The Japanese yen rose against all other major currencies today as the traders reacted on the possible bankruptcy of the U.S. automakers and the global optimism for the emerging stock markets and the high-yielding currencies declined. The yen rose to the highest level in a week against the U.S. dollar and the 2-week maximum against the euro as the Asian stock markets … “Yen Gains as World Economy Outlook Worsens”
Author: admin_mm
What Is Your Preferred Leverage?
What leverage do you use for forex trading? Play safe or use the maximum leverage? Here’s a poll for you. Leverage is common in forex trading. Traders can leverage tiny pips into huge profits – or huge losses. Following a post in the forex blog, I was wondering how traders split: lean for safe play or for … “What Is Your Preferred Leverage?”
AUD/USD New Resistance Line Formed
AUD/USD fails to extend its gains despite good economic indicators and strong momentum. A new resistance line has been formed, and might be tested later this week. Last week, the Aussie settled above the 0.70 line. There was no technical resistance there – just psychological. After a short struggle, AUD/USD traded nicely above this line, … “AUD/USD New Resistance Line Formed”
EUR/GBP Locked Between Uptrend Support and Strong Resistance
EUR/GBP found strong resistance at the magical 0.95 line, and slipped downwards. It doesn’t have much room to move due to uptrend support. This week’s high volatility should push it over the top – breaking resistance on the road to parity. EUR/GBP traded this week in a 250 pips range, from 0.9420 to 0.9170. In … “EUR/GBP Locked Between Uptrend Support and Strong Resistance”
G20 Summit – To Spend Or Not To Spend?
The G20 summit is due on Thursday. The US and the UK tend to call for a global stimulus plan while Germany wants to slow down. Will money be spent? Who will spend? And how will the forex market move? Heads of state from the top 20 industrialized nations are getting together in London, on … “G20 Summit – To Spend Or Not To Spend?”
Top 5 Dollar Downers
Here are 5 major macro economic reasons that weigh heavily on the US dollar: Obama’s stimulus package – spilling lots of money into the economy – devaluation of the dollar. FOMC Statement – Printing $1 trillion dollars instantly – dollar devaluation yet again. Toxic Asset Plan – Geithner’s plan will come mostly from the public … “Top 5 Dollar Downers”
Ringgit Rises to New Monthly High
The Malaysian ringgit reached its monthly high today on the traders speculations that the demand for the emerging markets assets will increase as the recession eases. The emerging stock markets in the Asian region continue to rise and such currencies as the Malaysias ringgit and the Koreas won are posting one of the longest gaining streak in their recent history. The stimuli from and … “Ringgit Rises to New Monthly High”
Cable Should Go Down
GBP/USD had a nice rally in the past week. It happened despite bad fundamentals. It seemed to have reached the ceiling but still hasn’t fallen. It should go down. The British economy saw lots of bad figures lately. Clairmount Count Change was very disappointing last week. It recorded 138,000, much more than early expectations. This … “Cable Should Go Down”
Korean Won Grows on Dollar’s Decline
The South Korean won, which is the outsider among the Asian currencies in the current year, rose to near the 2-month high against the U.S. dollar today as the latter declined on the lower risk-aversion mood of the currency market. The inflow of the investors foreign currency into the Korean stock market allowed the domestic banking institutions and exporters to fulfill their demand … “Korean Won Grows on Dollar’s Decline”
FOMC Statement Impact – One Week After
A week ago, the FOMC released a stunning statement, that meant printing $1 trillion dollars. This shocked the forex markets, and sent the dollar down. Some called it a death sentence for the greenback. One week after, let’s review where the buck is going. On Wednesday, Match 18th, the Federal Open Market Committee released its … “FOMC Statement Impact – One Week After”