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Day: November 5, 2009
November 52009
Canadian Dollar Remain High Before Jobs Report
The Canadian dollar remained neutral at the highest level in more than a week before an employment rate which is due to be published tomorrow, defining the outlook for the loonie for the next week, since jobs figures are an important data to measure a country’s economic conditions. An employment reports to be released tomorrow is giving a sense of expectation among traders to define the next movement trends for the loonie, since if the number of jobs improve, its […]
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November 52009
Euro Up as ECB Shifts Stimulus Program
The euro pared previous losses with a number of currencies this Thursday as the ECB affirmed that a series of measures used to stimulate the bloc’s economy on its way out of recession will be phased out, adding evidences that the economic health in the Eurozone is improving significantly. The European Central Bank President Jean-Claude Trichet stated today that gradually stimulus measures used to dodge recession will be lifted towards the complete […]
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November 52009
Pound Up as Asset Purchase Program Changes
The pound climbed significantly versus the dollar, and to a lesser extent versus the euro as the national central bank extended its asset-purchase program less than expected, suggesting that the British economy is needing less government stimulus to find its way out of recession, increasing attractiveness for the U.K. currency. The Bank of England has been using its asset-purchase program to stimulate the faltering economy in the U.K., and its further extension was lower by […]
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November 52009
Jobless Rates Push New Zealand Dollar Down
The New Zealand dollar lost versus most of the 16 main traded currencies this Thursday as the quarterly unemployment rate in the country grew further, decreasing attractiveness for the kiwi, as growing unemployment figures are a sign of bad economic health. The Reserve Bank of New Zealand Governor Alan Bollard affirmed that a strong currency is likely to slowdown the economic recovery process that the South Pacific nation is experiencing, raising concerns among […]
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November 52009
Failed Correction on EUR/USD on More Good Data
EUR/USD failed to to demonstrate a technical correction after the yesterday’s record fast growth, as some more good data on the employment market came out in U.S. today. During the early trading session, a downward movement was rather significant in euro/dollar market but the pair quickly recovered after the reports were released. EUR/USD is now trading near 1.4884. Nonfarm business sector productivity of labor rose by 9.5% (annual rate) […]
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November 52009
Chart Patterns and Technical Indicators
If you are interested in learning more about various chart patterns that can be used in Forex trading or need to gain some basic knowledge on some simple technical indicators, then the latest free e-book that was added to my site today is for you. It gives a detailed description and explanation for near 25 different chart patterns, including the popular ones like Symmetrical Triangles and the exotic ones like […]
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