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Day: April 1, 2010
April 12010
Swiss Franc Drops After Aggressive Intervention by SNB
The Swiss franc experienced a decline against the euro because of the intervention by the Swiss National Bank, as the central bank was selling the currency after it reached the record high level. One of the SNB Governing Board members said that the policy makers will stop a further excessive appreciation of the frank. That’s a stricter position compared to his statement on March 18th, when he stated that the bank is unable to purchase foreign currencies […]
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April 12010
Chilean Peso Profits from Earthquake Damage
The Chilean peso gained, cutting its losing streak, which it experienced for three weeks, on speculation that the government and insurers may start selling dollars, to pay for fixing the damage caused by the earthquake with a magnitude of 8.8 magnitude. The Chile’s government is required to pay more than $9 billion from $30 billion needed for the reconstruction, which it plans to raise by selling bonds in dollars and also by using its copper savings, […]
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April 12010
Pound’s Rally is Supported by Opinion Polls
The pound continues its rally versus the U.S. dollar, touching the highest level since March 22nd, as the survey showed that the Conservative party is leading against the opposing Labor party in the election, lowering a concern that the new government may be not strong enough to tame the budget deficit. The U.K. currency fell earlier on concern that the parliamentary election, which is held this year, may result in a government without […]
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April 12010
Dollar Rebounds After Retreating on Signs of Global Recovery
The U.S. dollar rose slightly above the opening level after it dropped today to a lowest level in a week versus the euro as the pace of the global economic rebound increase, forcing down the demand from traders and investors for the U.S. currency as a safe haven and an investment asset, who are now more willing to part with the greenback and take a little more risk. The renewed pace of the world economic recovery is proving to be dangerous to a performance […]
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April 12010
Scientists Finally Discovered the Patterns Behind Forex
The scientists from CERN has finally discovered the secret of the relation between the causes and consequences in the process that are fundamental to the Forex markets — buying and selling of the currencies. The resulting formula allows an almost sure-fire prediction (~99.999% accuracy) of the market prices and rates given the last 42 OHLC bars’ data. The calculation process is rather complex and requires almost an hour of time of an average PC to complete one prediction. The discovery was made during […]
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April 12010
EUR/USD Forms Doji Candlestick Pattern on Mixed Data
EUR/USD was trading both above and below the open level today as the incoming macroeconomic data was quite mixed. The pair is heading for the close near its open level, forming a Doji candlestick pattern on the chart. It’s currently trading near 1.3508. Initial jobless claims decreased from 445k to 439k last week in U.S. That’s even better than the average forecast of 440k. ISM PMI indicator (manufacturing sector […]
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April 12010
Dollar Appeal Declines on Riskier Assets Outlook
The dollar continued to lose ground this Wednesday as appetite for risk remains predominant in trading markets worldwide this week, making investors to bet higher-yielding assets once and moving the dollar towards a weekly loss versus multiple currencies. Several events during this week determined a reversal on the U.S. dollar charts as optimism increased significantly after positive reports were released in different economic regions around the globe, impacting negatively the demand […]
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April 12010
Yen Falls Affected by Global Optimism
The yen is having a hard time this week as risk appetite rose globally, decreasing attractiveness for the relative safety available in assets in the Asian country, being of the worst performers during the past days in forex markets together with the U.S. dollar. The Japanese yen touched an eight-week low versus the euro this Wednesday after the confidence towards assets in Europe rose significantly, after the Greece budget crisis may have found a solution […]
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