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Day: July 6, 2009
July 62009
South African Rand Continues Fall on Recession Pessimism
The South African rand, which was the best performing currency in the first quarter among the 16 most traded currencies, thanks to a wave of risk appetite, fell for the third day in a row, as pessimism increases risk aversion, damping demand for high-yielding emergent markets currencies. After a wave of international negative news that affected the South African currency last week, the rand started this session with a downgraded outlook as a report today indicated […]
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July 62009
Mexican Peso Down After Elections
The Mexican currency and stocks went down this Monday after the confirmation that President Calderon’s party lost midterm elections, raising concerns that reforms needed to stimulate the Mexican economy will not be implemented. Mexican President Felipe Calderon‘s party lost congressional seats in the latest elections, affecting Mexican stocks and the peso immediately, since the opposition is not likely to allow needed tax increases to stabilize Mexico’s budget, […]
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July 62009
Pound Falls on Bearish Market Pessimism
Speculations that the Bank of England will take further measures to stimulate the national economy brought pessimism to British markets, setting the pound down against currencies like the euro, dollar and the yen. The London Stock Exchange started this week negatively, as forecasts indicate that British companies will continue to post weak results for the following month, adding to the already […]
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July 62009
Yen Climbs on World Economic Recovery Delay
The yen, the most attractive currency in times of uncertainty, started this week climbing against the dollar and the euro, as pessimistic reports last week led to speculations that the economic recovery will falter, raising risk aversion levels among traders. Markets opened with a certain degree of pessimism this week, as several news suggested that there may be still a long way for a world […]
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July 62009
Breakout Expert Advisor That Trades Only on Certain Days
More than 6 months have passed since I’ve updated expert advisors section with a new EA last time. So, today the new addition is ready to be downloaded by the traders. myPickyBreakout was inspired by test presented in the latest issue of the Currency Trader Magazine. It’s based on a simple breakout strategy, which looks for a breakout by comparing high/low of the last completed bar with the highs/lows of the previous 8 bars. It holds the position open for 5 days or until the reversing signals is generated. The EA trades […]
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