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Day: December 21, 2010
December 212010
Canadian Dollar Weakens on Slowing Inflation & Rates Outlook
The Canadian dollar continued to decline today, falling for the forth straight day in the longest stretch of losses since October, as the slowing inflation caused the speculation that Canada’s central bank would keep the interest rates unchanged. The consumer prices in Canada rose 2.0 percent in the 12 months to November, following the 2.4 percent increase in October. The median forecast promised the increase by 2.2 percent. The retail sales increased for the fifth consecutive month, rising 0.8 […]
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December 212010
Euro Rises as China May Help EU to Battle Crisis
The euro declined, though remained above the opening price, following its previous advance on the speculation that the European Union would receive the investment from China, which may help it to deal with the debt crisis. China’s Vice Premier Wang Qishan said that his nation has performed “concrete action” to help the EU to battle its crisis. He also said at the forum in Beijing today: EU members have […]
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December 212010
Swiss Franc Rises on Concerns About European Banks
The Swiss franc extended its gains today as concerns that the European banks would struggle to raise funds after their ratings were downgraded by the rating agencies increased the demand for the Swiss currency as the safe haven. The Moodyâs Investors Service downgraded Ireland’s debt rating last week and yesterday reduced the ratings of Anglo Irish Bank Corp. and Irish Nationwide Building Society, both of which are controlled by the state, to literally “a junk”. The outlook […]
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December 212010
Book Review: The New Science of Technical Analysis (Thomas DeMark)
Today I’ve finally finished reading Tom DeMark‘s The New Science of Technical Analysis. I’d say that it’s difficult to judge a book written by a living person with an almost legendary status in the world of financial trading. Despite the fact that the book was written more than 16 years ago, it’s still a generous source of the extremely useful insights on technical analysis. Tom tries to use a scientific approach in one of the most […]
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December 212010
Britain’s Interest Rates May Go Up, Helping Pound Gain vs. Euro
The Great Britain pound rose today against the euro as the speculation that European banks would have problems in raising funds and the forecast that Britain’s central bank would increase the interest rates spurred demand for the sterling. The currency was little changed versus the US dollar. The Confederation of British Industry predicted in its report that the Bank of England would raise its benchmark rate by a quarter-point every three months from the second […]
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