Day: July 15, 2011

July 15
2011

S&P Warn About Possible Downgrade of US Rating, USD Down

The US dollar erased its gains today and posted the biggest weekly decline in three months after Standard & Poor’s warned that it may cut the US credit rating as the US lawmakers can’t agree on the nation’s debt ceiling. S&P expressed its concerns about the situation in the US: Since we revised the outlook on our ‘AAA’ long-term rating to negative from stable on April 18, 2011, the political debate about […]

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July 15
2011

Canadian Dollar Looks More Attractive After EU Stress Tests

The Canadian dollar advanced today against all 16 most-traded currencies after eight banks in the European Union failed the stress tests, increasing concerns about the EU financial system. The stress tests were performed for the first time this year after last year the European Banking Authority was criticized for their tests being too easy to pass. Eight banks failed the tests with a total capital deficit of â‚¬2.5 billion. […]

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July 15
2011

RTATC2011 — Day 6 — Position/Order Volume Limits

The modification of the EA to make it multi-currency was a tough job and resulted in a heavily modified code of my MT5 expert advisor. Today, I’d like to turn my head to a less complicated yet very important issue — proper position sizing in the ATC EAs. The Problem The ATC 2011 rules state: The minimum trading amount is 0.01 lots, and the maximum is 5 lots, with an increase by 0.01 lot on every order. … The maximum combined […]

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July 15
2011

Weakening US Economy Can’t Help EUR/USD Stop Decline

EUR/USD fell today for the second day as Fitch Rating downgraded Greece’s credit rating yesterday, increasing worries about the debt crisis in Europe. The current performance of the currency pair is result of a weak euro, not a strong dollar. The US currency isn’t supported by fundamentals as virtually all economic reports today were negative. EUR/USD currently trades near 1.4122. CPI fell 0.2% in June, following the advance by 0.2% in May. Analysts […]

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July 15
2011

AUD Fall with Stocks & Commodities on Concerns for Global Growth

The Australian dollar fell today, heading for the second weekly loss against the US dollar and the Japanese yen, as stocks and commodities declined on concerns that problems in the US and Europe will have negative impact on the global growth. The MSCI Asia Pacific index of regional shares was little changed today, while it dropped 2 percent over this week, following three weeks of gains. The Thomson Reuters/Jefferies CRB Index of commodities slipped […]

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July 15
2011

India’s Rupee Fall on Debt Problems in US & Europe

Asian currencies, including the Indian rupee, fell today on concerns that the debt issues in the US and Europe will threaten the global economic growth. Martin Feldstein, a former president of the US National Bureau of Economic Research, said that Greece will face default on its debt and Portugal together with Ireland are likely to experience the similar fate. Treasury Secretary Timothy F. Geithner warned US lawmakers that the deadline to raise […]

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