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Day: December 5, 2011
December 52011
Japanese Yen Gains in Forex Trading
Japanese yen is higher in forex trading this afternoon, after losing ground earlier. The initial excitement over the announcement from the eurozone is fading and the yen is gaining. Earlier, the announcement that eurozone countries are agreeing to re-visit the way the economy is set up boosted the euro and other currencies against the yen. The attempt will be to integrate the economies of individual countries a little closer in order to prevent further debt […]
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December 52011
Won Gains on US Employment & Hopes for Europe, Falls Again
The South Korean won gained today as the positive US employment report reduced investors’ fear of a new recession, while hopes that the European leaders would find a way to resolve the region’s crisis further bolstered the South Korean currency. The won later fell. The US non-farm payrolls grew last more than in the month before, spurring the speculation that the US economy is on track to recovery. France and Germany are discussing measures […]
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December 52011
Rupee Falls, Will Central Bank Intervene?
The Indian rupee fell today, reigniting the speculation that the nation’s central bank will intervene to support the currency as the excessive depreciation of the rupee may lead to a surge of the inflation. The negative impact of the European crisis hit the rupee hard and the currency fell 13 percent this year, being the worst performer among the Asian currencies. Subir Gokarn, Deputy Governors of the Reserve Bank of India, said that the currency’s decline shouldn’t be considered as a sing […]
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December 52011
Euro Gains as Leaders Work to Keep Currency Intact
Euro is gaining in Forex trading this morning as traders look with hope toward Europe. Eurozone leaders have been working to save the euro, and there is hope that this time something will be resolved on. European leaders are trying to work out a deal that protects Italy and Spain, as well as changes the way the eurozone is governed economically so that debt crises can be […]
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December 52011
Do You Use Partial Profit Taking?
Last week, I’ve described my point of view on the partial profit taking in Forex. In short, I believe (and support my belief with some simple math) that closing a part of profitable position before reaching the main target is a bad technique if you are using entry system with an edge. At the same time, many reputable traders employ partial take-profits (mainly the half ones) on a regular basis despite the fact that the only […]
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December 52011
EUR/USD Rises as Germany & France Review EU Treaties
EUR/USD gained today as Germany and France discussed changes to the European Union treaties that may result in stronger fiscal integration of the EU members. The negative data from the United States also helped the currency pair. ISM services PMI posted a decrease to 52.0% in November from 52.9% in the month before instead of the expected increase to 53.6%. (Event A on the chart.) Factory orders declined 0.4% in October, compared to the median forecast of a 0.2% drop and the September […]
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