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Day: December 31, 2012
December 312012
CAD Strengthens on Hopes Financial Disaster in USA Can Be Avoided
The Canadian dollar gained today, rising against its US counterpart, as the risk-positive sentiment dominated the Forex markets, driving investors to riskier currencies with higher yield. The combination of spending cuts and tax increases, which was called “fiscal cliff” in the media, concerned market participants as it might push the US economy into recession. Traders are hoping that some sort of a last-minute deal will be made by US politicians […]
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December 312012
USD Lower vs. Most Majors, Higher vs. EUR & JPY
The US dollar declined against most currencies today on hopes that US politicians will be able to resolve the problems with automatic spending cuts and tax increases that may push the US economy into recession. The greenback managed to gain versus the euro and the Japanese yen. Senate Majority Leader Harry Reid said that negotiations will resume today and he hopes that some last-minute solution will be […]
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December 312012
Euro Struggles as Risk-Off Returns to Currency Market
Euro is losing ground today against its major counterparts as risk-off dominates the sentiment on the currency market. The fiscal cliff issue in the United States is causing uncertainty in a number of markets, and there are still concerns about what’s coming for the eurozone in 2013. Euro is was lower earlier today as US lawmakers once again prepare meet to wrangle and try to come to an agreement that will help avoid the so-called fiscal […]
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December 312012
UK Pound Gains against Euro on Improved Sentiment
UK pound is gaining today as sentiment improves. The executives confidence survey for December is showing improvement, and there are hopes that the United Kingdom will avoid a triple-dip recession. Like the United States, the United Kingdom is figuring out how to combat a combination of spending cuts and tax increases. However, there are signs of growth in the British economy, and that is helping the pound right now, particularly against the euro. […]
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December 312012
Ringgit Lifted Along with Market Sentiment by Talks Among US Politicians
The Malaysian ringgit climbed today as negotiations continued in the United States about ways to avoid the fiscal cliff and that gives hopes for investors that a crisis can be avoided. Such hopes lifted the traders’ mood. Senate Majority Leader Harry Reid, who was previously complaining about lack of progress in the discussions about the financial cliff, said yesterday that there are still significant differences between Democrats and Republicans. Yet […]
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December 312012
AUD Attempts to Rally as China’s Manufacturing Expands
The Australian dollar erased its earlier losses versus the Japanese yen and rose against the US dollar (though it slipped back later) as the data showed an expansion of China’s manufacturing sector. Markit/HSBC China’s manufacturing Purchasing Managers’ Index rose from 50.5 in November to 51.5 in December, the highest level since May 2011. A reading above 50.0 indicates expansion. Previously, the private index was contradicting the government data as one was […]
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December 312012
What Were Your 2012 Results in Forex?
The year is ending today and it is time to look back and evaluate your effectiveness as a trader. For newbie traders it was their first year in Forex and it is probably too early to judge their performance but, for everyone else, one year is a good period to assess the quality of trading. For me, 2012 turned out to be a profitable year. Probably the first year with a significant profit above breakeven. […]
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December 312012
Forecast for 2013 — Forex, Gold, Oil, Interest Rates
It is time for my traditional Forex forecast for the new year. Also, it is time to look back at my 2012 forecast and note the differences between my fantasies and the reality we lived in last year. The quoted blocks of text below are the last year forecasts for individual trading instruments and indicators. Below each of them, I explain the actual outcome: EUR/USD â I believe that it will fall to about 1.25 in 2012 due the lack […]
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