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Day: June 7, 2011
June 72011
Pound Gains as ECB Helps Greece & House Prices Rise
The Great Britain pound went up today as the European Central Bank supported plan for rollover of the Greek bonds and after the report showed that the UK house prices increased in May. The Halifax house price index rose 0.1 percent in May, following the 1.4 percent decline in April. The sterling also rose as the ECB support of Greece spurred equities. The Standard & Poorâs 500 Index gained 0.5 percent, while the FTSE 100 […]
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June 72011
Korea’s Won Slips on US Economy
The South Korean won fell today on the speculation that the slowdown of the US economy will deter investors from higher-yielding assets. Last week the US non-farm payrolls, which grew in May with the slowest pace in eight months, and the unexpected increase of the unemployment claims erased attractiveness of riskier currencies and the influence of the unfavorable data is still felt today. Finance Minister Bahk Jae Wan claimed that the won is influenced by economic […]
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June 72011
ATC Criticism
Before proceeding to the actual criticism, I feel obliged to mention two important points. First, Automated Trading Championship (ATC) by MetaQuotes is great. Despite what will be written below, ATC remains the best event in the Forex industry, with their $80,000 prize fund and no entry fee. It also results in an extremely robust development of various MetaTrader expert advisors and indicators. I don’t deny any of the numerous advantages of this […]
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June 72011
Australian Dollar Erases Gains as RBA Holds Rates
The Australian dollar erased yesterday’s gains today after the Reserve Bank of Australia left its benchmark interest rate unchanged and signaled that it’s content with the current level of borrowing costs. Australia’s central bank maintained its cash rate target at 4.75 percent. The bank kept the rate unchanged since November 2010, when RBA raised the benchmark by 25 basis points. This decision was expected by market participants. […]
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June 72011
Euro Gains as ECB Reveals Plans to Support Greece
The euro rose today after it reached the highest level in a month against the US dollar as the European Central Bank plans to take actions to help Greece avoid default. ECB President Jean-Claude Trichet announced that the bank plans to take measures to encourage investors to buy new Greek bonds that would replace maturing securities. Trichet said that the bank doesn’t want to impose losses on creditors. Saying that, he […]
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