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Day: August 16, 2010
August 162010
Malaysian Ringgit Falls on Economic Concerns
The Malaysian ringgit fell today on the concerns that the global economic recovery is faltering, hurting the export-driven economies of Asia. The Japanese gross domestic product expanded by only 0.1 percent, less than even most pessimistic forecasts, while Malaysia and Taiwan expected to report that their economies also slowed. Thailand and Singapore forecast to report slower increase of the exports. USD/MYR traded at about 3.1660 today as of 14:05 GMT after it […]
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August 162010
Russian Ruble Rises with Oil Prices
The Russian rose today after crude oil, the main source of the nation’s revenue, gained and as the exporters converted their foreign currency earnings into the Russian currency. The Russian exporters exchanged their foreign currency earnings for the ruble to pay the taxes this week. The crude oil prices advanced 0.7 percent to $75.95 per barrel in New York. The oil prices gained as the concerns for the global economy eased somewhat, but the fears may return, […]
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August 162010
EUR/USD Declines After Reports from US
EUR/USD currency pair is rising today, but declined after good economic reports from the US. EUR/USD currency pair trades near 1.2812. N.Y. Empire State Manufacturing index increased to 7.1 in August from a previous reading of 5.1. Forecast promised a value of 8.1. Net long-term purchases of the U.S. securities by the foreign investors were at $44.4 billion in June, compared to a previous reading of $35.3 billion. Actual figure is […]
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August 162010
Bereavements and Mourning in Forex Trading? Yes, Since 1962!
No, it’s not about losing pips in poor trading or mourning for your deposit. It’s about an indicator developed by Edward Coppock in 1962 for the Episcopal Church (for their investments, of course; not for their religious needs!) It was a long-term indicator for stock investments and the main idea behind it were the periods of “mourning for the market bottoms”. As it’s usually between 11 and 14 months for the people, Edward used those periods to for calculations. The indicator […]
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