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Day: November 13, 2012
November 132012
Chilean Central Bank Keeps Interest Rates Stable, Peso Remains Weak
The Chilean peso weakened today against the US dollar even after Chile’s central bank left its main interest rates unchanged as positive domestic fundamentals outweighed negative influence of the global economic slowdown. The Central Bank of Chile maintained its main interest rate at 5 percent. It was not completely unexpected as the central bank was doing so for 10 consecutive months, but it was still encouraging […]
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November 132012
Australian Dollar Gains, Ignoring Negative Factors
The Australian dollar gained today, extending yesterday’s rally, even though fundamental data from Australia and the general market sentiment were not supportive for the Australian currency. National Australia Bank reported that its business confidence index fell from zero in September to -1 in October, while the business conditions were worst since May 2009. The report said: Businesses were more downcast in October, with the pessimism particularly apparent […]
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November 132012
Euro Slips as Greece Problems Continue
Euro is slipping again, dropping as concerns about Greece continue to dominate headlines. Once again, European leaders are balking at what needs to be done about Greece, and that is causing concern about what’s next for the country, as well as the effect on the entire eurozone. It’s no surprise that the euro is slipping today. Once again, disagreement over what to do about Greece is rising to the surface. The International […]
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November 132012
Japanese Yen Gains as Risk Aversion Returns
Japanese yen is heading higher again as sentiment shifts toward pessimism and Forex traders look for safe haven. Concerns about what’s next for the global economy, as well as the latest eurozone scare and the US fiscal cliff, are sending high beta currencies lower as safer assets, like the yen, head higher. Earlier, the yen had fallen, heading lower on Bank of Japan Governor Masaaki Shirakawa‘s promise to aggressively ease monetary […]
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November 132012
Pound Rallies as UK Fundamental Data Beats Expectations
The Great Britain pound advanced versus the US dollar and the euro today as almost all economic reports from Britain were better the expected, while the eurozone provided a set of disappointing data, increasing the appeal of the sterling as a haven from Europe’s crisis. The house price balance of Royal Institution of Chartered Surveyors improved to -7 percent in October from -14 percent in September. The Consumer Price Index rose from 2.2 percent in September to 2.7 […]
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November 132012
Swiss Franc Gains vs. Euro, Drops vs. Dollar
The Swiss franc gained against the euro today, but fell versus the US dollar. The macroeconomic data from Europe was bad today, weakening the shared European currency versus the Swiss currency. Yet fundamentals in Switzerland were not impressive either, limiting gains of the Swissie. The franc has dropped versus the euro in the first half of September, but was continuously rising since the middle of the month, yet it is still far […]
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November 132012
Book Review: Beat the Forex Dealer (Agustin Silvani)
Beat the Forex Dealer: An insider’s look into trading today’s foreign exchange market is a rather unusual Forex book. Unlike most of the others, that either introduce you to the currency market or teach you to some trading techniques, this book is mostly a warning. Despite having a little bit of both of those aspects, Silvani’s main message is a forewarning of a significantly unfair game played in the industry. There is little […]
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