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Day: June 4, 2012
June 42012
Ringgit Falls as China’s Growth & US Recovery Slows
Asian currencies, the Malaysian ringgit among them, were down today as negative data from China on the weekend followed poor macroeconomic reports from the United States on Friday. China’s Purchasing Manufacturing Index fell to 55.2 in May from 56.1 in April. The report followed Friday’s US non-farm payrolls that showed employment growing by just 69,000. The data signaled that global economic recovery is slowing and that had a negative […]
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June 42012
Euro Rebounds, Is Rally Sustainable?
The rebounded today, posting the second day of gains, but sustainability of the rally is highly questionable. Earlier, the currency declined as European leaders struggled to find a solution for the debt problems of the European Union. Concerns about the potential breakup of the eurozone grow as politicians cannot provide anything that resembles a meaningful plat to contain the crisis. Germany still objects implementation of joint euro-bonds, arguing that it would not help to resolve the issues. Such […]
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June 42012
Canadian Dollar Mixed as Traders Consider Bank of Canada
Canadian dollar is mixed today, turning in a spotty performance, as Forex traders weigh the week ahead. Commodities are lower, which affects the loonie, but there is also a small element of risk appetite, which is helping. Right now, loonie is higher than the greenback, gaining ground on the idea that the Canadian economy is better off than the US economy. Against the UK pound, though, loonie lower. […]
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June 42012
US Dollar Slips After Earlier Strength
Earlier, US dollar was higher against its major counterparts, gaining as Forex traders looked for safe haven as growth worries persisted. Now, though, the greenback is heading a little bit lower as a bit of optimism peeks through. US dollar is pulling back a little bit today, after some earlier strength. Concerns about declining Asian markets and other indicators of slower global economic growth prompted gains […]
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June 42012
What Is the Best Time of Day to Trade?
As my own statistics shows, the trading dynamics of the currency pairs differs greatly depending on the time of day. At the same moment, majority of this blog’s readers spend less than 5 hours a day on trading, so, obviously, they dedicate only a part of their day to the markets. Personally, I am a long-term trader (relatively to what is considered short-term in Forex) and thus the time of day is rarely important to me as 90% of my positions are entered […]
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