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Day: January 8, 2013
January 82013
CAD Loses Ground to USD & JPY, Holds vs. EUR
The Canadian dollar fell against its US peer after two sessions of rise and extended its drop versus the Japanese yen as crude oil and stocks retreated. The Canadian currency advanced versus the euro for the first day in three. Risk appetite came away from the market and riskier assets were falling. Futures on crude oil retreated 0.1 percent to $93.15 per barrel on NYMEX today. The Standard & Poorâs 500 Index […]
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January 82013
Forint Declines with Drop of Industrial Production
The Hungarian forint fell today as nation’s industrial production declined, spurring speculations that the central bank will continue its policy of monetary easing. Industrial output fell 0.1 percent in November from the previous month. On year-over-year basis, productions sank 6.9 percent, demonstrating the sharpest drop since 2009. The Magyar Nemzeti Bank (Hungary’s central bank) was cutting interest rates every month since August and is likely […]
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January 82013
Rand Extends Drop on Threat of Strikes in Agricultural Industry
The South African rand continued to decline today as the threat of strikes among agriculture workers deterred investors from buying South Africa’s assets. Last year, the mining sector was the major source of problems for the country’s economy as workers were constantly demanding wage increases. This year, it looks like the agricultural industry wants to follow suit. Continuous labor unrest definitely does not help to attract investors and that is […]
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January 82013
Euro Pulls Back as Risk Aversion, Eurozone Concerns Weigh
Euro is pulling back today, especially against low beta currencies, as risk aversion sets in. Concerns about global economic growth are weighing on high beta currencies today. Additionally, there are still concerns about the eurozone, and the debt crisis. Even though political leaders in the eurozone have expressed the view that the worst is over for the debt crisis, there are still some concerns about the sluggish […]
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January 82013
Growth Concerns Weigh on the UK Pound
UK pound is lower today, falling as growth concerns weigh on the British currency. Worries about whether or not the United Kingdom is ready to grow its way out of its current funk are dominating after the latest retail sales data. The British Retail Consortium is reporting that the Christmas sales for retailers at the end of 2012 rose only a little bit. This news indicates that shoppers aren’t quite […]
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January 82013
Application of Chart-Aware Neural Networks with Evolving Topology in Forex Trading
It is quite hard to find a Forex trader that has tried to automate his trading and has never heard of neural networks. Creating a trading robot that is capable of evolving and learning from the market itself is a very attractive idea. Artificial neural networks used in computation resemble the neural networks in human brain as they are built with multiple interconnected nodes and work as a single system. Their structure […]
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January 82013
USD Slows Decline vs. EUR & GBP, Continues to Fall vs. JPY
The Japanese yen was falling yesterday against some majors, including the euro and the pound, but slowed its decline today. Against the yen, on the other hand, the greenback continued to decline. There was no major news at the beginning of this week, so the Forex market was largely digesting the events of the last week. Good US non-farm payrolls sapped the strength of the US currency. Yet the mood of traders remained largely foul after […]
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January 82013
USD/CAD Falls as Ivey PMI Beats Forecasts
The Canadian dollar gained against its US counterpart after the indicator of Canada’s business rose last month more than was expected. At the same time, the loonie retreated versus the euro and the Japanese yen. Richard Ivey School of Business released its Purchasing Managers’ Index yesterday, which showed an increase from 47.5 in November to 52.8 in December. The reading was above the analysts’ forecast of 51.3. A value above 50.0 indicates an expansion […]
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