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Day: November 9, 2010
November 92010
Carry Trade Makes South Africa’s Rand Stronger
The South African rand strengthened today against the US dollar on the speculation that the carry trade would persist, increasing the capital inflows in South Africa and bolstering the currency. Pravin Gordhan, South Africa’s Minister of Finance, said that the decision of the US Federal Reserve to keep the interest rates near zero would support the rand. The so-called carry trade, when the speculators borrow in the developed countries with the low interest rates to invest in the higher-yielding […]
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November 92010
Yuan Appreciates Ahead of G-20 Meeting
The Chinese yuan gained today on the speculation that the Chinese government would allow the currency to appreciate ahead of the Group of Twenty meeting. The Peopleâs Bank of China increased the yuanâs reference rate by 0.17 percent to 6.6580 versus the US dollar today, the biggest gain in more than three weeks. This move allowed to appreciate not only the yuan, but also other riskier currencies. Such action may be performed because of the political […]
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November 92010
Book Review: Forex Patterns & Probabilities (Ed Ponsi)
After reading and reviewing two rather complex Forex books (first review, second review), I’ve decided to go for something simpler. Today I offer a review of Forex Patterns & Probabilities by Ed Ponsi — a book for the novices in Forex trading. It’s an introductory book, which, although includes some strategies and interesting points, was written to teach a trader-wannabe the ABC of foreign exchange market. That’s why it should be judged […]
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November 92010
British Pound Gains vs. Euro, Drops vs. Dollar & Yen
The Great Britain pound gained versus the euro on the speculation that Ireland would fail to find means for decreasing its budget shortfall even though it discusses with the European Union the possible measures to do so. The pound dropped against the US dollar and the Japanese yen. Ireland attempts to negotiate with the EU the way to avoid the bailout, like the one provided for Greece, while the investors refrain from buying the Irish bonds. Angela […]
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