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Day: November 22, 2010
November 222010
US Dollar Strengthens as Traders Believe in Quantitative Easing
The US dollar rose today against the euro and the Great Britain pound as many traders believed in the positive effect of the quantitative easing on the US economy, despite the criticism from the economists. The dollar dropped against the Japanese currency. The Dollar Index, which tracks the performance of the US currency versus the currencies of the US six major trading partners, jumped as much as 5.1 percent after it reached it lowest level this year on November 4th. […]
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November 222010
Concern for Ireland’s Debt Pushes USD/CAD Higher, EUR/CAD Lower
The Canadian dollar fell versus its US counterpart and advanced against the euro as the optimism for Ireland’s rescue package wasn’t been able to sustain the good outlook for Europe’s economy. The optimism for Ireland’s bailout supported the markets last week, but it was short-lived without actual signs of the improvement. For now situation looks even worse as the Moodyâs Investors Service said that it may downgrade Ireland’s credit rating more than […]
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November 222010
NZD Drops as S&P Downgrades New Zealand Credit Rating Outlook
The New Zealand dollar dropped heavily today as the Standard & Poor’s downgraded its outlook for New Zealand’s credit rating as the nation’s banks may be weakening. The outlook for the New Zealand credit rating was downgraded from stable to negative by S&P. S&P confirmed the âAA+â long-term and âA-1+â short-term sovereign credit ratings of New Zealand. Alan Bollard, the governor of the Reserve Bank of New Zealand, said last week that the nation’s […]
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November 222010
Concerns for European Debt Undermines Euro’s Strength
The euro jumped today on the speculation that the rescue package would help Ireland to deal with its debt crisis, but after the sharp advance the currency experienced even stronger drop and currently continues to decline. Brian Lenihan, Ireland’s Finance Minister, said on the press conference yesterday that the loan would be less than â¬100 billion ($137 billion), but refused to provide more details. Brian Cowen, Prime Minister, […]
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November 222010
Week Marked by Optimism for Canadian Currency
The Canadian dollar declined last week. One of the major reasons for the underperformance was the economic tightening measures in China. The ensued speculation about Chinaâs plans to cool its economy weakened the growth-related currencies and caused the decline of the prices for crude oil, the biggest Canadaâs export. The concerns about the actions of the Chinese government will cause pressure on the Canadian currency. Still the outlook for the loonie this week is rather positive. The fundamental reports expected to support […]
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November 222010
Trading Forex Without Stop-Loss?
Stop-loss is one of the best invention of the financial trading. At the same time it’s also one of the most cursed thing in Forex — how many times was your stop-loss hit just before the trend reversed in the direction of your position? For many traders stop-loss orders are the reason of depression and despair. Unfortunately, not many of them understand that if they didn’t use stop-loss the results would have been even worse. […]
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