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Day: February 27, 2012
February 272012
NZ Dollar Falls as Trade Balance Posts Unexpected Deficit
The New Zealand dollar was down against its US peer before the big jump that erased the losses and remained weaker against the Japanese yen after New Zealand trade balance posted an unexpected deficit in January. New Zealand trade balance had a deficit of NZ$199 million in January, compared to a NZ$167 million surplus predicted by analysts. The report said that one-off importation of large aircraft had a large influence on the import […]
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February 272012
US Dollar Higher on Risk Aversion
US dollar is getting a boost today as risk appetite fades. After ending last week lower, the US dollar is gaining today as risk aversion makes an appearance, thanks to the results of the G-20 meeting over the weekend. With delegates telling the eurozone to get its act together before approval for more IMF funds will be made, US dollar is higher as Forex traders look for stability. Over the weekend, […]
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February 272012
Yen Jumps After Falling to Lowest Price in Several Months
The Japanese yen reached a multi-month lows against other currencies, including the dollar and the euro, today, but surged after stocks dropped on concerns that problems in Europe will resurface again. Moodyâs Investors Service warned that probability of a default in Greece “remains high”. The Standard & Poorâs 500 Index declined 0.5 percent, the Stoxx Europe 600 Index went down 1 percent and the MSCI Asia Pacific Index lost […]
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February 272012
Euro Drops after Eurozone Bashing at the G-20
This past weekend, the G-20 meeting in Mexico City seemed to have a common refrain: The eurozone needs to get its act together. Concerns about the eurozone were top of the list at the meeting, with delegates asking questions about the way the entire sovereign debt crisis has been handled. With the world’s uncertainty about the eurozone on display, the euro is much lower today against its major counterparts. Complaints from members […]
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February 272012
Elliott Wave Theory — Does It Work?
Elliott Wave Principle for trading in financial markets was developed by Ralph Nelson Elliott back in 1930’s. It’s still very popular among all sorts of chart traders and is even more popular among Forex traders. Even EarnForex.com features a section with daily Elliott Wave videos. Despite that, I cannot say that I am a huge believer in the Elliott Wave theory. It is very subjective, in my opinion. 10 […]
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