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Day: March 7, 2013
March 72013
UK Pound Gets Boost from BOE Decision
UK pound is getting a boost against its low-beta counterparts today, thanks to the latest decision from the Bank of England. A touch of risk appetite is also helping the pound against currencies like the dollar and the yen, but the euro continue to dominate the pound. The Bank of England announced earlier today that it would keep the rate at 0.5%, and that it would keep its asset purchases at the current level. There is […]
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March 72013
Euro Gains on ECB, US Jobs Report
Euro is gaining ground today, after some recent disappointments, thanks to the latest move from the European Central Bank. Additionally, risk appetite is making an appearance today on the news that the latest US unemployment data shows some continued improvement in the labor market. The ECB, as expected, kept its interest rate the same. Mario Draghi was a little vague about what he thinks about the runaway performances in equities, […]
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March 72013
AUD Rallies Even as Trade Gap Unexpectedly Widens
The Australian dollar managed to rise today even after the data showed that the trade balance deficit widened, surprising traders who have expected it to decline. The Australian trade balance posted a deficit of A$1.057 billion in January, up from A$0.69 billion in the previous month. Analysts have expected a decrease to A$0.51 billion. Yet Forex market participants were not particularly worried as they did not expect the Reserve Bank […]
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March 72013
Yen Drops Even as BoJ Leaves Policy Unchanged
The Bank of Japan left its interest rates and the size of the asset purchase program unchanged today. The Japanese yen dropped after the news. The BoJ left interest rates near zero during today’s meeting, which was the last with Masaaki Shirakawa as an acting leader. One member of the board suggested an introduction of an open-ended asset-purchase program, but others voted against this proposal. Market participants viewed such suggestion as laying down […]
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March 72013
EUR/USD Jumps as ECB Sees Signs of Stabilization
EUR/USD jumped today after the European Central Bank left interest rates unchanged and said that “economic activity should start stabilising in the first part of the year”. (Event A on the chart.) On top of that, Spanish bond yields were falling, suggesting that investors are confident in European assets. The positive data from the United States added to the good mood of traders. US trade balance deficit widened to $44.4 billion in January up […]
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March 72013
New Expert Advisor Can Help You Trade Chart Patterns
After nearly two months of coding, testing, starting over and fixing bugs, I am finally happy to announce a release of my best EA to this date. Chart Pattern Helper is also one of the biggest programs I have ever written for MetaTrader. Unfortunately, it cannot detect chart patterns on its own. All it does is managing orders and positions based on the chart patterns drawn by a trader. As you probably know, I trade […]
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