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Day: October 2, 2012
October 22012
UK Fundamentals Unexpectedly Bad, Pound Loses Strength
The Great Britain pound fell versus the euro and pared its earlier rally versus the US dollar today as unexpectedly poor Britain’s macroeconomic indicators reduced the appeal of the currency. The sterling managed to retain its gains against the Japanese yen. The Nationwide House Price Index fell 0.4 percent in September. That is instead of the expected increase by 0.1 percent. Moreover, the previous rise was revised down from 1.3 percent to 1.1 […]
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October 22012
Bernanke Erodes Dollar’s Strength
The US dollar was weaker against most major currencies today after Federal Reserve Chairman Ben Bernanke reiterated in yesterday’s speech his pledge to keep the monetary policy accommodative. The greenback managed to outperform the Japanese yen, which was undermined by speculations about an intervention from the Bank of Japan. The Chairman explained his view: We expect the economy to continue to grow. Our concern is not really a recession. Our concern […]
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October 22012
Japanese Yen Drops on Intervention Talk
Japanese yen is heading lower today as risk appetite makes an appearance. Also weighing on the yen is more talk about possible intervention to keep the yen weak against its currency counterparts. Japan has a new finance minister, and he appears ready to follow in the footsteps of Jun Azumi. The new finance minister, Koriki Jojima, said that policy makers stand ready to “take bold actions” if they think […]
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October 22012
Ringgit Stronger on Improving US Manufacturing & Bernanke’s Speech
The Malaysian ringgit was stronger today against the US dollar after yesterday’s report showed an unexpected improvement of US manufacturing and as Federal Reserve Chairman Ben Bernanke confirmed that the central bank is going to maintain accommodative policy. Yesterday, the Institute for Supply Management released its PMI report, showing that the US manufacturing sector expanded in September for the first time in four months. Bernanke spoke about the Fed’s monetary policy […]
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October 22012
Euro Gains on Signs that Spain is Ready for a Bailout
For weeks now, eurozone leaders and others have been waiting for Spain to ask for a bailout. Spain has even been encouraged to ask for a bailout. But the country’s leaders have been reluctant. Now, it looks as though Spain might be ready, and the euro is heading higher as a result. Signs now point to the possibility that Spain is ready to ask for a bailout. Spain’s recent budget release indicates that the country is […]
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October 22012
RBA Slashes Main Interest Rate, Making Aussie Weaker
The Australian dollar dropped today after the Reserve Bank of Australia made a surprise move by cutting its main interest rate. Economists expected that the RBA would hold rates unchanged in the light of the recent positive developments in the global economy. Australia’s central bank slashed its key interest rate by 25 basis points to 3.25 percent. While some analysts predicted such move, most believed the rate to remain stable. Glenn […]
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October 22012
Forex VPS Infographic
Since my explanation of how VPS can enhance automated Forex trading was quite popular among this blog’s readers but lacked an easy-to-understand visual explanation, we have created this infographic. You can learn about hosting your MetaTrader expert advisors on a virtual private server in just three mouse scrolls! If you have any questions or comments on application of VPS hosting in currency trading, please feel […]
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