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Day: October 14, 2011
October 142011
Pound Higher Against Dollar, Down Against Euro
UK pound hit a one-month high against the US dollar earlier today, thanks to renewed optimism. Sterling followed the euro higher in Forex trading, gaining against the US dollar as investors look for high yields as risk appetite makes an appearance. The UK pound is benefiting from a positive end to the week for stocks in Europe and in the US. Indeed, in the US, this week marks a positive 2011 overall for stocks. Pound is also benefiting […]
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October 142011
US Dollar Down on Optimism
Optimism is high regarding the upcoming G20 meeting, and that is sending the US dollar lower in Forex trading. Greenback is lower today as economic data boosts hopes, and as Forex traders shrug off the latest downgrade of Spain’s sovereign debt. Since the US dollar has been used as a safe haven recently, it is little surprise that the greenback slides in currency trading when things start looking better. […]
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October 142011
Chile Maintains Main Interest Rate
The Chilean peso rose today, paring its previous decline, after the Chilean central bank kept its key interest rate unchanged, but signaled about the possibility of a rate cut in the future. The Banco Central de Chile left its benchmark overnight rate at 5.25 percent. The bank has raised the main rate five times in the first times of this year. Yet now the policy makers say the global economic slowdown […]
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October 142011
Won Rises with Help of Foreign Investors
The South Korean won climbed today as the overseas inflows into the nation’s economy confirmed attractiveness of the currency to the global investors. The exchange data showed that the global funds bought $549 million more shares than they sold in the three days ended October 13. Korea’s President Lee Myung Bak and US President Barack Obama agreed to cooperate in stabilization of the currency in case such action would be required. The MSCI Asia-Pacific […]
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October 142011
Risk of Ruin
Every Forex trader wants to know how risky his strategy is and what’s the chance to lose a part of the account or the whole balance. This chance is called risk of ruin. Since usually Forex traders know their win/loss ratio and the average size of winning and losing positions, calculating the risk of ruin should be relatively easy. Or should it? Unfortunately, it’s not that simple. Risk of ruin is a known problem […]
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October 142011
G20 Meeting Started, Bolstering EUR/USD
EUR/USD jumped today as the leaders of the Group of Twenty started their meeting in Paris today. The G20 chiefs will discuss the European sovereign-debt crisis and the actions needed to be taken in order to resolve the situation that threatens the global economy. The news from the US were good for the most part, except for the preliminary report about the sentiment of Americans that showed a deteriorating confidence. The advance reading for US retail sales showed a monthly increase of 1.1% […]
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October 142011
AUD & NZD Feel Weight of Spain’s Downgrade
The Australian and New Zealand dollars retreated today after Standard and Poor’s cut Spain’s credit rating yesterday, damping risk appetite on the Forex market. S&P downgraded Spain’s long-term debt rating from AA to AA- yesterday and issued a negative outlook. This decision spoiled the otherwise bullish week for the euro and higher-yielding currencies. The promise of the European leaders to find a way out from the current unpleasant situation with the sovereign debt supported […]
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October 142011
S&P Cuts Spain’s Credit Rating, Fears for Europe Return
Another European country experienced a downgrade of its credit rating. This Standard & Poor’s cut the sovereign rating of Spain, reminding traders that the story of Europe’s woes is far from over and the debt crisis may spread across the region. S&P lowered the long-term rating on the Kingdom of Spain to AA- from AA, maintaining the short-term ratings at A-1+. The outlook is negative. The rating agency cited the reasons for such decision: -Spain’s […]
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