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Day: June 9, 2011
June 92011
EUR/USD Weakens as ECB Keeps Rates on Hold
EUR/USD extended its losses today as the European Central Bank left its benchmark minimum bid rate unchanged at 1.25% (Event A on the chart.). Such decision was expected by economists, but concerns that the Bank will avoid increasing of interest rates because of fiscal problems of the Eurozone hurt the currency pair anyway. Jean-Claude Trichet, President of the ECB, was moderately optimistic in his speech after the monetary policy decision and said that […]
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June 92011
RTATC2011 — Day 1 — Introduction
With more than 4 months left before ATC 2011, I introduce my RTATC2011 series of blog posts. RTATC2011 stands for Road To ATC 2011 and this year I’d like to publicly share all my preparations for this Forex trading contest. What? I plan to share my ideas for EAs, descriptions of various important methods and techniques to be used specifically during the Automated Trading Championship, code snippets, scripts, indicators and even fully working […]
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June 92011
Australian Dollar Retreats on Low Employment Growth
The Australian dollar weakened today as the government report showed that Australian employers added fewer jobs than was predicted by analysts. The number of employed persons in Australia grew by 7,800 in May from April, compared to forecasts of an increase by 25,600. The reading wasn’t bad anyway, compared to the April slump by 29,400. Yet the report caused speculation that the fundamentals will restrain Australia’s central bank from increasing interest rates on its next […]
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June 92011
RBNZ Holds Rates, Kiwi Rises
The Reserve Bank of New Zealand kept the main interest rate unchanged today, but signaled that it may be raised rather soon, boosting the New Zealand dollar. The RBNZ left the Official Cash Rate (OCR) unchanged at 2.5 percent today. Reserve Bank Governor Alan Bollard said in his statement: As GDP growth picks up, underlying inflation is expected to rise. A gradual increase in the OCR over the next […]
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