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Day: August 1, 2011
August 12011
Swiss Franc on Record Against Everything
The Swiss franc managed to rise against all other major currencies pair in Forex market today, as the debt-lifting measures in US threaten to weaken the global economy, pushing down the demand for “unsafe” currencies. The Swiss currency rose to its historical maximum against the US dollar and the euro today. It also reached the maximum level in 3 years against the Japanese yen. The Forex traders favored the safe-haven franc, expecting economic slowdown in the developed […]
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August 12011
Forex Account Currency Poll
While, some brokers limit the traders’ account currency choice to USD, with many Forex brokers it is possible to hold your trading account in currencies other than the US dollar. There are both advantages and disadvantages in keeping your FX account in other currencies. For example, if you believe that the dollar is going to be down long-term, it would be very irrational to store your trading […]
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August 12011
Dollar Advances vs. Euro as Manufacturing PMI Plunges
Despite the improved US real estate data, the dollar went soaring against the euro today, following a worse than expected report from the ISM. The currency pair fell as the global risk appetites decreased on bad US manufacturing sector prospects. ISM PMI for manufacturing sector was reported at 50.9% in July — down from 55.3% reported for June. The indicator was expected to drop only to 55.0%. (Event A on the chart.) Construction spending rose […]
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August 12011
Risk Rally Pushes NZD to Records vs. Dollar
The New Zealand dollar reached a new historical maximum against its North American counterpart and grew against some other world currencies today, as the US debt ceiling agreement spurred demand for high-yielding assets. The kiwi (which is how the NZD is often called) renewed its historical maximums versus the US dollar and the euro today. It also reached a new high level in more than a year against the Japanese […]
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