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Day: June 29, 2009
June 292009
Australian Dollar Down After Chinese Comments
The Australian dollar, often referred as the Aussie, fell for the first time in 5 days against the U.S. dollar and other currencies after Chinas comments indicating that the greenback will continue to be the main world reserve currency, damping demand for the Australian dollar high-yielding profile. The Australian dollar had a significant rally last week pushed by a risk aversion decrease, several positive […]
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June 292009
What Pairs Do You Trade?
My own experience suggests that the majority of the traders usually trade on two or three preferred Forex pairs, which usually include EUR/USD, GBP/USD, and USD/JPY, while not too many go into other major crosses, with an extremely low number of traders touching something exotic like USD/BRL or NZD/CHF. In Forex, nearly all currency pairs are interconnected and there is little real diversification possible compared to how the things are in stock markets. […]
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June 292009
Dollar Climbs as China Confirms Its Global Reserve Currency Status
The dollar started this weeks session rallying against several main currencies after China stated that it may continue to be used as a main reserve currency, and that the Asian nation wont change its foreign currency reserves suddenly. Guan Tao, deputy head of the international payment department at the Chinese State Administration of Foreign Exchange, wrote in Chinamoney magazine that the U.S. currency will remain as the […]
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