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Day: October 12, 2009
October 122009
Will the Euro Be World’s New Reserve Currency?
The euro is putting pressure on the dollar and started another week gaining versus the greenback as speculations suggest that the U.S. dollar’s position as the main global reserve currency may be entering its final days. As the U.S. government maintains interest rates at record lows to improve domestic economy and is tolerating a weaker dollar to stimulate exports competitiveness, central banks around the world are shifting its reserves to other currencies, in a natural […]
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October 122009
Mexican Peso Climbs on Fiscal Reform
The Mexican peso managed to high the highest level in October after speculations suggested that the government will find the support needed to pass a budget reform in the country, helping the national currency to rally. Emergent market currencies benefited today from a positive performance in stock markets, attracting investors to higher-yielding opportunities in countries like Mexico, which witnessed a climb in its currency after a fiscal reform in country is likely to be approved in the national […]
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October 122009
Pound Declines Further on U.K. Economic Forecast
The pound touched the lowest level in more than six months versus the euro and posted declines versus virtually all main traded currencies as forecasts suggest that interest rates in the country will remain low in the long-term, adding doubts towards the British economic future. The Center for Economics and Business Research in the U.K. impacted the pound outlook negatively today after statements indicating that interest rates will remain at record low levels […]
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October 122009
Yen Falls on Industrial Optimism in Europe
The Japanese currency started this week falling versus most of the 16 main traded currencies after one of the main European electronics producer posted unexpected quarterly profits, inducing traders to opt for higher-yielding positions in foreign-exchange markets. Royal Philips Electronics NV, the biggest European electronics producer based in the Netherlands, posted a better than expected profit for this year’s third quarter, surprising traders positively, damping demand for the safety of the yen, […]
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October 122009
Types of Forex Charts
There are several types of the Forex charts that are used by the currency market traders. Perhaps, the most popular among them is the Japanese candlestick chart, which offers a lot of information about the price, which, at the same time, is easily understandable and can be used to analyze the chart patterns. Other chart types include: OHLC bars (which are not too different from the candlesticks but are visually […]
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