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Day: April 10, 2012
April 102012
US Dollar Heads Higher on Safe Haven Demand
US dollar is heading higher as uncertainty in the financial markets creates a demand for safe haven currencies. Greenback is heading higher against the euro and the UK pound. While the pound has been struggling most of today anyway, this development is new to the euro, a currency that had been seeing some strength earlier. Right now, the US dollar is gaining favor as stocks retreat and uncertainty rises. Concerns about […]
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April 102012
Crude Oil Prices Drag Ruble Down
The Russian ruble was down today, falling for the third day, as prices for crude oil, the main nation’s export, declined amid concerns about the global economic recovery. Futures on crude oil fell $0.16 to $102.30 per barrel in New York, following yesterdayâs decline by 0.8 percent. The ruble depends on the performance of crude as the commodity is the main export good of Russia. Oil was falling on concerns that the global economic slowdown will […]
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April 102012
Swedish Krona Declines with Industrial Production
The Swedish krona fell today after a report showed that nation’s industrial production declined significantly more than expected and as risk aversion damped demand for European currencies. Industrial production fell 5.2 percent in February from January, compared to the median forecast of 0.3 percent. Annual decline was 7.1 percent, while an advance by 0.5 percent was predicted by analysts. The krona is also hurt by concerns about the crisis in Europe. […]
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April 102012
Risk Aversion Weighs on the UK Pound
Risk aversion remains intact today, and that is weighing on the UK pound. Concerns about global economic growth are still plaguing the markets, and that means that the UK pound is struggling. Right now, the pound is down against the US dollar and the euro. Since British and European markets were closed yesterday for Easter Monday, investors are just catching up with the sentiment that brought Asian and European […]
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April 102012
Book Review: Trading for a Living by Dr. Alexander Elder
I’ve read a lot of positive reviews of a rather old trading book by a psychiatrist and trader Alexander Elder called “Trading for a Living“. It’s mentioned in a praising manner in Brandt’s Diary of a Professional Commodity Trader and remains quite a popular book on Amazon. Naturally, I’ve decided to fill this gap in my trading education and read Elder’s first book. The first thing that impressed me negatively was the price — more than $40 for a Kindle version […]
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