The Pound completed the comeback and reached the resistance line. The Euro passed the 1.50 hurdle but didn’t make a convincing break. What’s next for these currencies? GBP/USD is out of air GBP/USD trades now at 1.6620, about 40 pips from one of the strongest resistance lines – 1.6660. This number stopped the pair so … “GBP/USD and EUR/USD ran out of fuel”
Category: Forex news
Pound High on Rate Hikes Speculations
The British pound gained versus its main rivals the euro and the U.S. dollar, after a day of decisions in the Bank of England in which the asset-purchase program was voted to be held unanimously, together with statements published in newspapers that added attractiveness for the Great Britain currency. Not only the British currency but also gilts rose today intensively after Bank of England Chairman Mervyn King affirmed through a note in the Scotlandâs Herald … “Pound High on Rate Hikes Speculations”
New Zealand Dollar High on Rates Increase Talks
The New Zealand dollar had a good performance today gaining versus the dollar and the yen after government officials did not relate a strong kiwi with eventual delays in interest rate hikes, adding speculations that the South Pacific country is on the way to raise its benchmark interest rates. The Reserve Bank of New Zealand Governor Alan Bollard declared that the current high levels for the loonie are not influencing eventual … “New Zealand Dollar High on Rates Increase Talks”
Currensee – Trading Forex Longer – Part II
The first part of the review of Currensee included the review of the product itself. Here, in the second part, I bring questions and answers from Currensee CEO Dave Lemont. I also review some drawbacks of the product. Drawbacks While the idea is great and the implementation are great, I still have two remarks. First, … “Currensee – Trading Forex Longer – Part II”
Brazilian Real Declines on Central Bank Desperate Measure
The Brazilian real has been the best performing currency among the 16 more traded in foreign-exchange markets this year, and after a central bank measure to tax foreign investment on stocks and bonds to curb the currency’s rally, the real fell today. Brazilian stocks had the worst performance in 4 months today after the desperate measure was taken by the national central bank in order to stop the currency gains, which are affecting national … “Brazilian Real Declines on Central Bank Desperate Measure”
Russian Ruble Gains Further as Nation Rebound From Slump
The Russian currency experienced another day of gains after a government official announced today that the country is out of recession, adding attractiveness to the already appealing Russian stock market. The crude oil, one of the main Russian primary exports, continued to gain and hit the $80 level for the first time this year, helping the ruble to extend its rally versus most of the main traded currencies after the Russian Finance Minister affirmed that … “Russian Ruble Gains Further as Nation Rebound From Slump”
Bank of Canada Takes Measures to Force Loonie Down
After trading once again near parity with its U.S. counterpart, the Canadian dollar witnessed a significant fall today as the national central bank stated that a strong currency will cause problems and slow down the economic recovery in the country, shunning investors from Canada, at least, temporarily. Bank of Canada held its overnight rates at 0.25 percent as most of economic analysts were expecting, but the tone of policy makers declarations … “Bank of Canada Takes Measures to Force Loonie Down”
Euro Rally Concerns Central Bankers
The euro continued to remain near a 14-month high versus the dollar today, as concerns regarding the current strength of the European common currency start to emerge among ECB officials, since a strong euro could jeopardize economic recovery in its member countries. A part from currencies based in commodity exporter countries like Brazil and Australia, the euro has been benefiting from the new wave of risk appetite that has been unleashed since … “Euro Rally Concerns Central Bankers”
Currensee – Forex Trading 2.0 – Part I
Currensee is a promising new social service that makes forex trading more collaborative. Currensee enables forex traders to trade together, sharing real trade information in real time. This adds a lot of transparency to the forex industry which has lots of money but lots of secrets. Beginning today, Currensee is in public beta. Anyone can … “Currensee – Forex Trading 2.0 – Part I”
Canadian Dollar Near Parity With Greenback
Optimism and risk appetite ignite speculations that the Canadian dollar will soon trade in parity with its U.S. counterpart, as demand for Canadian exports are rising worldwide, as well as stocks in Toronto. The Canadian dollar is once again trading near parity with its U.S. counterpart as the greenback suffers from a decreased attractiveness, while Canadian stocks rise, benefiting from rising crude oil prices, that is trading … “Canadian Dollar Near Parity With Greenback”