Day: October 24, 2011

October 24
2011

Australian Dollar Gains as Optimism Strengthens

The Australian dollar advanced today as traders threw out doubts and were ready to take a riskier course. Earlier Forex market participants felt uncertainty caused by the unclear outcome of the EU summit, but it seems they decided to look at the current plans of the European leader in the positive light. Another positive factor for the Aussie (the usual nickname of the Australian currency) was the expansion of the manufacturing in China. The Asian nation is the major trading partner of Australia […]

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October 24
2011

GBP Higher Against USD — For Now

The Great Britain pound is grinding higher against the US dollar today, thanks to increased risk appetite, and expectations for a European deal by Wednesday. However, things might not remain so rosy for the UK pound going forward. For now, the UK pound is benefiting from higher global equities, as well as optimism that things are about to be resolved in the eurozone concerning the sovereign debt crisis. However, pound is only […]

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October 24
2011

Canadian Dollar Gets Boost on Forex Market Optimism

Canadian dollar is getting a boost today, rising against the US dollar on optimism about what’s next for the eurozone. With the expectation of a deal announced by EU leaders on Wednesday, the Forex market is showing a return to risk — at least for now. Earlier, the loonie moved higher against the euro, but now the euro has the upper hand in that pair. The Canadian dollar remains solidly up against the US dollar, though, and higher […]

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October 24
2011

USD Posts Small Losses After EU Summit Ends

The summit of the European Union leaders ended without a clear outcome. Some progress was made, though, and the US dollar fell as demand for safety waned. The greenback still hangs near its opening level against most currencies. The proposition of turning the independent European Central Bank for borrowing was rejected and instead the European Financial Stability Facility should be empowered to buy the bonds of the indebted nations. European Commission President Jose Barroso […]

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October 24
2011

Euro Gives Away Its Gains Today

The euro started the week rallying, but the doubts, that remained even after the European Union summit, caused the rally to fail and the currency hangs now barely above the opening level above the greenback and below the opening versus the yen. The EU leaders discussed on the summit the ways to support the region’s banks. They refused the idea of a forceful restructuring of the Greek debt. Investors weren’t completely convinced by the plans of the politicians and the drop of the European manufacturing and services industries […]

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October 24
2011

Professional Background of Forex Traders — Poll

Very few or none traders at all, whom I personally know, have had Forex trading as their first job. Almost all of them had studied to get some other profession and then spent years working in fields unrelated to the currency market. Some continue doing so even after achieving a certain level of success in Forex trading. I’ve studied Computer Science in university and also worked at various positions related to coding. […]

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