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Day: November 5, 2012
November 52012
Pound Drops as Services PMI Reaches 22-Month Low
The Great Britain pound weakened today, falling against the US dollar and the Japanese yen, while erasing its earlier gains versus the euro. The losses followed that data that showed very slow growth of the UK services industries. The services Purchasing Managers’ Index fell from 52.2 in September to 50.6 in October. The index still indicates growth, but the rate of expansion was slowest in 22 months. Analysts have expected the gauge […]
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November 52012
Weekly Outlook for CAD Neutral
Last trading week was not great for the Canadian dollar (CAD) as the currency fell against some majors, including the US dollar and the Japanese yen, but gained versus the euro. What outlook analysts do have for this week? The most important event this week is the presidential election in the United States. The problem is that not only the outcome, but market reaction to it as well, is hard to predict. Last […]
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November 52012
Canadian Dollar Drops on Risk Aversion
Canadian dollar is heading lower today as uncertainty prompts risk aversion in the Forex market. Forex traders are concerned right now about risk, thanks to all of the uncertainty about the global economy, oil prices, the eurozone, and the outcome of the US Presidential Election. There is a lot of uncertainty to be had right now, and high beta currencies like the loonie are heading lower as a result. Right now, one of the big factors […]
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November 52012
Brazilian Real Falls as Analysts Cut Outlook for Interest Rates
The Brazilian real fell today as analysts revised down their outlook for Brazilian borrowing costs, even though forecasts for economic growth and consumer inflation remained steady. Some indicators, including industrial output, were bad enough to warrant lower interest rates. Problems of the global economy make economists revise their expectations for borrowing costs in various countries and Brazil was not an exception. Experts cut their forecast for Brazil’s main […]
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November 52012
Euro Weakens on Greek Concerns
Once again Greece is the focus of every Forex trader, and uncertainty is dragging the euro down as a result. Meanwhile, the uncertainty regarding the US election is also dragging on high beta currencies like the euro. Right now, the euro is headed lower, weakening a great deal as worries about Greece threaten the situation in the eurozone. Once again, there are concerns about what’s next for the struggling country, and whether or not parliament […]
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November 52012
Aussie Gains as Retail Sales Beat Estimates & Trade Deficit Shrinks
The Australian dollar strengthened today as retail sale beat analysts’ forecasts and trade balance deficit was smaller than expected. Still, most market participants believe that the Australian central bank will cut its interest rates tomorrow. Australia’s retail sales grew 0.5 percent on a seasonally adjusted basis in September from August. The rate of growth was above the expectations of 0.4 percent and the August rate of 0.3 percent. The trade […]
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November 52012
Sharing Is Caring in Forex?
I often hear that if someone has a really good and working trading system, he will never share it and will keep it only to himself. According to many Forex book authors, it is highly unlikely that a trader who found some profitable strategy or developed a consistently lucrative FX robot will start selling it publicly or sharing it for free. As I see in the forums, this opinion prevails […]
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