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Day: January 6, 2011
January 62011
Rand Drops for Fourth Day on Weaker Commodities & Strong Dollar
The South African rand extended its decline versus the US dollar today as the favorable US economic reports strengthened the dollar, while the slump of commodities weakened the rand. The good economic data from the US this week, including reports about the services industries and the employment, allowed the US currency to strengthen. At the same time, commodities were declining, causing the riskier currencies, including the rand, to weaken. The economists say that it’s just temporary […]
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January 62011
Great Britain Pound Weakens After Bad PMI Services Report
The Great Britain pound weakened today after the report showed that Britain’s services PMI dropped lower than was forecast by the analysts as a result of the poor weather and snow. The Markit Services PMI dropped from 53.0 in November to 49.7 in December. The predicted value was 52.9. The report attributed the decline to the bad weather and the weak demand from the public sector and said that “underlying trends remained subdued”. GBP/USD declined from 1.5513 […]
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January 62011
Doug Schaff’s Trend Cycle (STC) — Now for MetaTrader!
Doug Schaff developed an interesting cyclical indicator for Forex trading several years ago. In 2008 he’s made it public. He presented a code of the indicator written for TradeStation EasyLanguage. Unfortunately, until now there weren’t any correctly converted versions for MetaTrader. I’ve found several variants of one code, which is neither correct nor full. From today, you can freely download the original Schaff Trend Cycle […]
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January 62011
Canadian Dollar Rallies as Commodities & Stocks Gain
The Canadian dollar rallied today after the significant growth of the US employment boosted commodities, including crude oil, and stocks, increasing demand for the currencies linked to economic growth. Employment in the US posted the tremendous growth of 297,000 in December, which is almost three times as big as forecasts promised. The good news increased investors’ risk appetite and spurred commodities. February delivery for crude oil, the main Canada’s export, advanced as much as 1.1 percent […]
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