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Day: April 4, 2013
April 42013
CAD Up vs. USD & JPY Despite Poor Employment Forecasts
The Canadian dollar rose against its US counterpart today even though forecasts for Canadian employment are not particularly good. The currency also surged versus the Japanese yen, reaching the highest level since October 2008, but retreated against the euro. Tomorrow’s report is forecast to show that Canadian employment rose by just 6,800 jobs in March, compared to the February growth of 50,700. What is more, it is […]
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April 42013
Thai Baht Weakens on Prospects for Intervention
The Thai baht went down today on speculations that policy makers will intervene to curb currency’s gains that may threaten the nation’s economy. Finance Minister Kittiratt Na-Ranong complained that the high exchange rate was partly responsible for the 5.8 percent drop of exports in February. Such comments led to speculations about a potential intervention. The currency was performing well indeed, rallying 4.1 percent since the beginning of the year. The bank […]
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April 42013
Euro Overcomes Some of Its Earlier Losses
After dropping below the 1.2800 level against the US dollar earlier today, the euro is gaining on the day. Risk appetite and a commitment to the euro are helping the 17-nation currency regain some of its earlier losses against the greenback. Earlier, when making the latest ECB announcement, Mario Draghi highlighted some of the challenges still facing the eurozone. The announcement sent the euro plunging against the US dollar, dropping it below the 1.2800 level. […]
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April 42013
Sterling Surges on BoE Policy Decision & Services Growth
The Great Britain pound jumped today after the Bank of England kept the monetary policy unchanged and the service industries expanded with faster pace than was anticipated by analysts. The BoE decided to keep its main interest rate at the record low 0.5 percent and the asset purchase program at £375 billion. Such decision was expected by market participants, but was welcomed nevertheless. The poor Britain’s economic health means that additional […]
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April 42013
Yen Drops as BOJ Announces New Easing Plan
The new easing plan from the Bank of Japan has the yen dropping rapidly today. Yen is down against its major counterparts today as Japanese leaders announce a very aggressive easing plan. Among the pledges made by Prime Minister Shinzo Abe during his campaign was one to tackle the decades-long economic stagnation in Japan. The new Bank of Japan head, Haruhiko Kuroda, seemed to be the perfect fit for that goal. […]
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April 42013
Book Review: Naked Forex (Alex Nekritin and Walter Peters)
Naked Forex: High-Probability Techniques for Trading Without Indicators is a rare case of a book, for which you could read some 5-star rating reviews and some 1-star rating reviews on Amazon and they all would be completely valid and justified. Yes, this is an example of an overpriced book with a very small amount of new information and it is ridden with ads. At the same time, Naked Forex is one of the best […]
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April 42013
Aussie Gains on Good Domestic Data
The Australian dollar gained today on better-than-expected macroeconomic data and as the Reserve Bank of Australia will retains it Governor for an extended term. The currency slipped versus the Japanese yen yesterday, but was flat today. Seasonally adjusted building approvals jumped 3.1 percent in February after falling for two months. The median estimate was at 2.4 percent. Australian retail sales grew 1.3 percent in February on a seasonally adjusted basis, while only […]
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