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Day: December 13, 2010
December 132010
US Dollar Falls After China Kept Interest Rates Unchanged
The US dollar weakened today as China kept its interest rates unchanged, reducing the concerns about the possible China’s actions to slow the Chinese economic growth and damping the demand for the safer currencies. The market participants were worried that China would raise the interest rates to slow the accelerating inflation, which reached 5.1 percent in November from a year earlier. The possible rates hike and the resulting slowdown of the Chinese growth was concern for everybody […]
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December 132010
Iraqi Dinar Weakens on Outlook for Budget Deficit
Iraqi dinar slipped today on the speculation that Iraqi budget would post the deficit next year, decreasing the appeal of the currency. The specialists predict that the budget deficit may reach $18 billion in the next year. On the other hand, the profits, which may increase because of the rising prices for the oil, can turn a deficit to a surplus by the end of 2011. USD/IQD traded at about 1,170.00 as of 13:02 GMT after it closed yesterday at 1,169.08 and reached […]
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December 132010
Yen Falls vs. Dollar on Signs of Economic Recovery
The Japanese yen fell against the US dollar today on the signs of the economic recovery in the US, including the growing retail sales and the improving consumer confidence. The economists’ estimates show, before the tomorrow’s report, that the retail sales in the US roe 0.6 percent in November, following the growth by 1.2 percent in October. The Thomson Reuters/University of Michigan preliminary index of consumer sentiment showed last week the increase from 71.6 in November to 74.2 in December. USD/JPY went […]
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December 132010
Canadian Forex Broker — Forexoma
Forexoma is a Forex learning portal that has launched its own retail brokerage service recently. They cater via the MetaTrader 4 platform. The broker is based in Canada but isn’t regulated by any financial authority yet. One can start trading with $500 and use the mini-lots. Forexoma’s site doesn’t look very nice (I’d say it’s a rather nontraditional design for the Forex brokers) but there’s […]
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December 132010
Reasons Behind $4 Trillion Daily Forex Turnover
Michael R. King from the Bank for International Settlements (BIS) and Dagfinn Rime from the Central Bank of Norway (CBN) have published an interesting article about the major reasons of the growth of volume in the Forex market since 2007. Although the article contains little useful information for the retail Forex traders, it shows some interesting issues that can help understanding the inner structure of the FX market, who are the market participants and how […]
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