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Day: March 26, 2012
March 262012
Aussie Gains as Bernanke’s Comments Boost Demand for Higher Yield
The Australian dollar gained today as Federal Reserve Chairman Ben Bernanke signaled that the US economy still needs stimulus, making investors look for higher yield and benefiting riskier assets. Bernanke said: The recent decline in the unemployment rate may reflect, at least in part, a reversal of the unusually large layoffs that occurred during late 2008 and over 2009. To the extent that this reversal has been completed, further significant improvements […]
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March 262012
Canada’s Dollar Gains on Comments of Bernanke & Merkel
The Canadian dollar rose today as the speech of Federal Reserve Chairman Ben Bernanke boosted stocks and commodities, while comments of Germany’s Chancellor Angela Merkel eased fears of a new spread of the financial crisis. Merkel told that Germany may support the plan to run both the temporary and the permanent bailout funds simultaneously. Bernanke explained that the unemployment level is still elevated and the need for the accommodative policy remains. The loonie gained after the Chairman’s […]
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March 262012
Japanese Yen Pulls Back on Higher Risk Appetite
Japanese yen is pulling back in forex trading today, heading lower as risk appetite improves. Yen is lower against other majors today as optimism about the global economy, as well as improvement in Europe, boosts high beta currencies. Right now, Forex traders seem to favor high beta currencies with higher yields right now, now that things appear to be looking up for many economies. German […]
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March 262012
US Dollar Weaker on Bernanke’s Comments
US dollar, after showing some strength in earlier trading, has moved lower since Ben Bernanke‘s remarks. Bernanke’s remarks on the US economy have raised doubts about the strength of the recovery, as well as provided clues that a loose monetary policy may not be over with. This has led to a weaker greenback. Federal Reserve Chair Ben Bernanke mentioned the good news of an improving labor market in his remarks […]
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March 262012
Zloty Rises with Poland’s Retail Sales
The Polish zloty erased its earlier losses today after a report showed that retail sales in Poland increase more than was predicted, reinforcing optimistic outlook for the nation’s economy. Retail sales advanced 13.7 percent in February from a year ago, compared to the median forecast of 9.9 percent. The growth was highest in almost 10 months. The European Commission predicted that Poland’s economy will grow 2.5 percent this […]
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March 262012
Euro Falls vs. Dollar, Erases Gains vs. Yen, Investors Afraid of Debt Crisis
The euro fell against the US dollar on concerns that the debt crisis may again threaten to spread across Europe. The currency also pared its gains versus the Japanese yen, which were caused by improving business climate in Germany. Eurozone finance ministers are scheduled to meet in Copenhagen on March 30 to discuss possible methods for reinforcing financial firewall against the crisis. Italian Prime Minister Mario Monti made Forex traders […]
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March 262012
Forex Traders’ Crucial Traits — Poll
Every trader’s personality is different. There are no two identical Forex traders. Nonetheless, most of the traders share some common personal qualities that either help them become successful and earn money with the FX market consistently, or become losers who destroy their account balance and return only to lose again. What are those personal qualities? What psychological traits or combinations of them are vital […]
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March 262012
EUR/USD Gains as Bernanke Backs Up Stimulative Policy
EUR/USD advanced today, erasing its previous losses, as Federal Reserve Chairman Ben Bernanke explained today that the US labor market hasn’t recovered yet and accommodative monetary policy is still necessary. (Event A on the chart.) On top of that, data showed that the housing market isn’t in good shape either. Earlier, the euro slid as traders were worried that the debt crisis may again spread across Europe. Pending […]
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