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Day: November 6, 2012
November 62012
Market Sentiment Positive for Commodity Currencies, Benefiting CAD
The Canadian dollar climbed today as stocks and commodities rallied, increasing the attractiveness of currencies tied to economic growth. The loonie gained against the euro for a fourth session in a row, reaching the highest level since October 16. The risk sentiment was good across markets today. The Standard & Poorâs 500 Index of shares gained 0.8 percent. The S&P GSCI Index climbed as much as 2.3 percent, indicating rising commodity prices. Crude oil, […]
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November 62012
Brazilian Real Rises on Inflation Expectations
The Brazilian real rose today amid the positive sentiment on the Forex market and on speculations that data will show an increase of Brazil’s inflation. Analysts estimated that the IPCA inflation index increased to 5.44 percent in October from a year ago, accelerating from September’s 5.28 percent. The government data will be released tomorrow. The general market mood was also positive. Europe’s fundamental data was not particularly good today, […]
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November 62012
Higher Commodity Prices Lead to Stronger Rand
The South African rand rose today as it followed gains of raw materials ahead of the presidential election in the United States of America today. The positive outlook for US fundamentals also contributed for the gains of the rand. Earlier, riskier assets were a bit soft because of uncertainty caused by the US election. Today, the market sentiment has turned. The Standard & Poorâs GSCI Index of commodities climbed as much as 1.1 percent, the highest level since October […]
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November 62012
RBA Does Not Cut Interest Rates, Aussie Jumps
The Australian dollar surged today after the Reserve Bank of Australia refrained from lowering interest rates. Such decision surprised Forex traders as they had been sure that the central bank would cut borrowing costs and that cut was priced in. The RBA left its main interest rate at 3.25 percent at today’s policy meeting. The central bank mentioned downside risks that were caused mainly by the situation […]
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November 62012
Yen Strength Fades a Little on BOJ Lending Program
Japanese yen has, once again, been strengthening a bit. However, the Bank of Japan‘s new lending program, unveiled last week, seems to be having at least some effect, although the future effect is likely to be a little bit greater. Right now, the yen is strengthening against the US dollar and the UK pound. There is a bit of uncertainty in the markets right now. In the United States, the focus is on the tight Presidential […]
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November 62012
Euro Inches Higher as Risk Appetite Makes an Appearance
Euro is inching higher, gaining a little after some earlier losses. Risk appetite is making a slight appearance, and that is helping the euro as Forex traders focus on something other than Greece, and as European markets gain a little ground. Earlier, uncertainty about Greece sent the euro lower, and it touched a two-month low. Right now, though, the euro has managed to inch higher as European stocks show some […]
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November 62012
Free 4-Hour MACD Trading Strategy Ebook
Quite some time has passed since I last added something new to the free ebooks section on EarnForex.com. Today, it is a trading strategy manual written by an unknown but highly experienced and detail-attentive author. This MACD trading strategy is rather simple, yet it encompasses several aspects of the currency market and the actual trading process. Although it is based on very popular and widely used Moving Average Convergence/Divergence […]
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November 62012
Dollar Gains Ahead of Election
The US dollar gained against some riskier currencies, including the euro and the Great Britain pound, but fell against the Japanese yen. Debt woes still plague European countries and uncertainty ahead of the US presidential election makes traders hoard safer assets, including the greenback. Whatever happens after today’s election in the United States, investors preferred to keep safer assets before the outcome will be known. That increased the appeal of the dollar, […]
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