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Day: May 24, 2010
May 242010
Oil Prices Help Russian Ruble
The Russian ruble gained today against the U.S. dollar and the euro after the oil prices stabilized near $70 level, improving the outlook for the economy of Russia, the largest energy exporter in the world. July delivery for crude oil increased by 1.3 percent to $70.96 in New York and traded at $70.12 in Moscow when ruble trading ended. China, the second biggest consumer of oil in the world, may postpone its attempts to rein its economic growth. This […]
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May 242010
South African Rand Bolstered by Solid Economic Growth
The South African rand strengthened today versus the euro and the U.S. dollar after the retail sales grew as the central bank has performed the interest rates cuts, leading to the accelerated economic expansion and the stronger currency. The Reserve Bank has cut the benchmark rate by 5.5 percentage points since December 2008 to 6.5 percent. The retail sales grew in March 1 percent from a year ago, the first increase in more than a year. Gross […]
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May 242010
Bank’s Bankruptcy in Spain Renewed Concerns for Euro
The euro was weakened today by the renewed concerns about the ability of the European Union’s nations to resolve the region’s debt crisis after the Spain had to step up to support the regional lender. The savings bank CajaSur was heavily harmed by the property-loan defaults, causing the Bank of Spain to take it over. This led to doubts about the overall resilience of the European banking system and new concerns about the euro’s future. EUR/USD traded near 1.2385 […]
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May 242010
Trading on Weekly Gaps Can Be a Good Idea
It turns out that the price gaps that usually occur on weekends and result in a price difference between the Friday’s close and the Monday’s open not only frustrate traders with positions closing worse than stop-loss, but they also are a good source of trading opportunities. If you know how to use them, of course. The latest fundamental Forex strategy added to EarnForex.com today depicts a Forex gap trading strategy, […]
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May 242010
Concerns for Budget Cuts Undermine Pound’s Performance
The Great Britain pound declined against the U.S. dollar and Japanese yen after the survey showed that the households’ pessimism about their finances increased and the outlook for the job security amongst the public sector workers worsened on the expectations of the coming budget cuts. The survey showed that 43 percent of the households expect their financial conditions to worsen in the near future, the worst reading in more than a year, and the public sector workers have the worst outlook […]
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