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Day: July 7, 2011
July 72011
US Employment Improves, Reducing Need for Swissie
The Swiss franc weakened today as the reports show that the employment in the US improved much more than predicted, reducing demand for the currency as a safe haven. The US employers added 157,000 jobs in June, on a seasonally adjusted basis. That’s much higher value than the forecast 67,000 and a big improvement from the May change of 36,000. The unemployment claims slipped from 432,000 to 418,000 last week. Demand for safe currencies also decline as President […]
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July 72011
BOE Holds Rates, Pound Suffers
The Great Britain pound fell today against most major currencies after the nation’s central bank kept its key interest rate and the asset purchase program unchanged. The currency managed to advance versus the Japanese yen. The Bank of England left its Official Bank Rate at the record low 0.5 percent, as was expected by Forex market participants. The bank also kept its asset purchase program unchanged at £200 billion. The pound […]
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July 72011
ECB Puts Main Interest Rate at 1.50%, EUR/USD Down
The euro erased its losses versus the Japanese yen, but fell against the US dollar today even after the European Central Bank raised its main interest rate. The ECB boosted its benchmark Minimum Bid rate by 25 basis points to 1.50 percent. The French traded balance unexpectedly widened from â¬7.2 billion to â¬7.4 billion. The German industrial output rose 1.2 percent in May, following the 0.8 percent […]
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July 72011
EUR/USD Reverses Downtrend as ECB Raises Rates
EUR/USD advanced today as the increase of interest rates by the European Central Bank overshadowed the positive reports about the employment in the US. (Event A on the chart.) The currency pair hasn’t immediately reacted to the news and continued its decline at first, but later surged above the opening rate. The US jobless claims were near the median forecast, but the ADP employment report was much better than predictions of analysts. EUR/USD trades now at 1.4348 after […]
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July 72011
RTATC2011 — Day 5 — Multi-Currency Expert Advisor
Following the recent success with Z-Score optimization of my MT5 expert advisor for the Automated Trading Championship 2011, I present the next entry in my Road to ATC 2011 journal. This entry is all about adding a multi-currency support to my expert advisor. Old Ways As I’ve already written, adding multi-currency support to an MT5 EA can be very useful, but it’s also quite tricky. In September 2010, I’ve explained how to do […]
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July 72011
Swiss Franc Strengthens on Europe’s Woes
The Swiss franc gained against the euro as the downgrade of Portugal’s credit rating by Moody’s Investors Service spurred demand for the currency as a safe haven. Many traders were unprepared to the sudden surge of risk aversion after the last week. It looked like the problems of Europe would go to the background for some time as Greece has “bought” some time for dealing with the debt crisis by accepting required austerity. The downgrades of European countries’ rating by rating […]
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