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Day: November 21, 2011
November 212011
US Dollar Mostly Higher, Even on Deficit Panel Failure
A bi-partisan committee designed to find a solution to the debt crisis in the US has failed. As a result, US stocks are in free fall today. The US dollar, though, is mostly higher in Forex trading. US dollar is gaining in Forex trading as concerns about world events catch up with investors and traders. Risk aversion is a major part of financial market proceedings today, and that means that Forex traders are […]
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November 212011
Yuan To Move Toward Flexibility on Currency Market
Chinese Premier Wen Jiabao is planning to allow the yuan to increase in flexibility on the currency market, according to state-runCCTV. China’s official television reported, over the weekend, that a meeting between US President Barack Obama resulted in Wen’s pledge that China would allow the yuan (also called the renminbi) to appreciate more on the Forex market, moving more in line with market pressures. Even though Chinese President Hu Jintao reportedly […]
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November 212011
Pound Slumps as House Prices Decline
The Great Britain pound dropped today and dropped heavily as the house prices in Britain tumbled, reinforcing the negative outlook for the UK economy. Rightmove reported that the House Price Index was down by 3.1 percent in November from October, following the increase by 2.8 percent in October from the preceding month. That was the biggest drop since November 2010. The drop of the prices was attributed to the negative impact of the European crisis on the confidence of consumers and businessmen. […]
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November 212011
Yen Profits from Debt Problems of Europe & USA
The Japanese yen rose against the euro and fluctuated versus the dollar as concerns about the US debt added to uncertainty caused by the European crisis. Rumors say the US Congress may announce that its members failed to reach agreement about spending cuts needed to reduce the budget deficit. Spain was yet another European country to lose government as the ruling Socialist Party lost election on the weekend. The Standard & Poorâs 500 Index […]
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November 212011
Popularity of Order Types in Forex
While the majority of the retail Forex positions are opened with the simple market orders (i.e. at the current price), there are also other types of trading orders in use by the FX market participants. Here are the most popular of them: Stop/limit pending orders are the common trading orders. Stop orders are used to buy or sell when we want to enter the currency market when the price has already come some […]
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November 212011
EUR/USD Down, Attempts to Rebound
EUR/USD was sharply down today at the start of the trading session, but later the decline stopped and currently the currency pair attempts to go higher. The political situation in Europe isn’t good for the euro as Spain became yet another country that lost government because of its inability to resolve the debt issues. Yet the situation in the United States is not much better as politics aren’t able to agree about spending cuts necessary to reduce […]
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