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Day: January 3, 2011
January 32011
Eurozone Manufacturing PMI Drives Euro Up
The euro gained today as the Eurozone Purchasing Managers’ Index rose in December, signaling that the European economy slowly recovers and the fears of the financial crisis may recede. The Markit Eurozone Manufacturing PMI in its final revision advanced to 57.1 in December, the highest reading since April, compared to the previous estimate of 56.8. The growth was led by Germany, France, Austria and the Netherlands. Germany’s PMI climbed from 58.1 in November to 60.7 in December, the highest level […]
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January 32011
Dollar Gains vs. Pound & Yen on Economic Reports, Falls vs. Euro
The US dollar rose today against the Great Britain pound and the Japanese yen after the reports showed that the manufacturing expanded and the construction spending increased in the US. The currency fell versus the euro. The Institute for Supply Management Purchasing Managers’ Index rose from 56.6 percent in November to 57.0 percent in December. The construction spending grew 0.4 percent in November. That’s compared to the median forecast of 0.2 percent and the October reading of 0.7 percent. The Standard […]
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January 32011
Forecast: Dollar Will Drop and Can Lose Its Role in World Economy
The US dollar was weakening in 2010 amid the concerns about the US economy and as the quantitative easing damped the appeal of the currency. On the other hand, the dollar managed to rise somewhat recently. What the future holds for the US currency this year? Performance of the dollar is tied with the health of the US economy. The economy looked rather weak for the most part of the year, but now slowly recovers. Is the recovery sustainable? There are positive factors […]
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January 32011
Polish Zloty Rebounds as Inflation Reaches 11-Month Record
The Polish zloty traded near the opening level today after the initial decline as the inflation climbed to the highest level in 11 months, according to the government’s estimates. Poland’s Finance Ministry estimated that the annual inflation jumped to 3.1 percent in December, compared to 2.7 percent in November. The consumer prices rose 0.3 percent from November to December, according the estimate of the ministry. USD/PLN traded near its opening level of 2.9628 as of 13:00 GMT after […]
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January 32011
Norwegian Krone Erases Losses on Positive Outlook for Economy
The Norwegian krone slumped at the start of today’s trading session, but was slowly rising after that on the anticipation for the Norwegian policy makers to shield the nation from the problems in other countries. The balanced Norwegian economic policy resulted in the lowest unemployment in Europe, giving the central bank an incentive to raise the interest rates. On the other hand, decisions should be made carefully, as the possible appreciation of the krone may hurt the exporters’ profits from the record oil […]
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January 32011
Was 2010 Successful for Your Forex Trading?
The year 2010 has ended and it’s time to evaluate its results. One full year is an optimal period for measuring the effectiveness of your trading strategies. Even the long-term systems produce some measurable results over 365 days. Unfortunately, my own Forex trading results were rather poor — I’ve lost almost 18% in currency trading last year. Most of the losses were due to the extensive experimenting with the new techniques […]
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January 32011
EUR/USD Falls as Manufacturing & Construction in US Expand
EUR/USD currency pair declined today on concerns that debt problems would hamper attempts of governments and banks in the European Union to raise funds. There weren’t many economic from the US today, but the ones that were released showed positive tendencies in the economy. EUR/USD trades now at about 1.3319 after it dropped earlier as low as 1.3250. ISM PMI continued to rise in December, posting an increase from 56.6% to 57.0, […]
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