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Day: May 21, 2012
May 212012
Mexican Peso Profits from Promise of Faster Growth in China
The Mexican peso advanced today as China pledged to boost its economic growth, reducing the negative impact of the crisis in Europe and increasing demand for riskier currencies with higher yield. Chinese Premier Wen Jiabao promised to accelerate economic growth in China and that pledge improved market sentiment somewhat, benefiting currencies of emerging economies. China remains one of the few sources of good news nowadays. The United States is another, although optimism […]
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May 212012
Yuan Gains as Wen Promises to Boost Growth, Retreats
The Chinese yuan gained today, before retreating below opening level, after the central bank set the reference rate higher and the head of China said that the government will take measures to boost economic growth of the country. Chinese Premier Wen Jiabao said that he would give “more priority to maintaining growth” to support the economy that is showing signs of slowdown. The Peopleâs Bank of China raised the fixing by 0.15 percent […]
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May 212012
Euro Struggles in Forex Trading
Once again, the euro is struggling in Forex trading. It isn’t much of a surprise, really, since the eurozone is still operating in debt crisis mode. Since last week, not much has changed. Greece is still on the verge of withdrawal from the 17-nation currency region, and Spain and Italy continue to teeter on the edge of their own full-blown crises. Even the promise of a growth agenda in the eurozone can’t help the euro. Indeed, reports […]
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May 212012
US Dollar Index Starts Week Stronger
US dollar index is starting out another week stronger, thanks in large part to difficulties plaguing the eurozone. While the Facebook IPO last week distracted Forex traders and investors from the crisis in the eurozone for a short period of time, focus is back on Europe, and what’s happening (or not happening). Concerns about the eurozone continue to make the US dollar attractive as a safe haven. Even as concerns about Greece’s exit from the eurozone […]
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May 212012
Probability Literacy Among Forex Traders — Poll
Are you a probability literate person? As a Forex trader, you should be. Understanding the probabilities is one of the most important conditions for success in Forex market and in any other financial trading field. Almost all the FX books I read mention mass misconceptions that roam the minds of beginning and even professional traders. Fooled by Randomness is a good example of a book that is dedicated entirely to the problem of “probability blindness”. The most interesting […]
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