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Day: June 17, 2013
June 172013
What Week Holds for Euro?
The most important event this week for the Forex market is US Federal Reserve policy meeting on June 19. Traders look for guidance about future Fed monetary policy. There will also be some events important specifically to the euro. It is hard to make forecasts ahead of such major events as the Fed meeting because not only the exact decision of policy makers is not easy to predict, but […]
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June 172013
What’s Next for the US Dollar? That Depends on the Federal Reserve
US dollar is gaining ground today as speculation about the upcoming Federal Reserve meeting runs rampant. For now, the greenback is higher against most of its major counterparts on the speculation that Ben Bernanke will provide a clearer idea of when the “taper” will begin. What happens with the US dollar in the future likely depends on the outcome of this week’s Federal Reserve meeting. The Federal Open Market Committee will meet […]
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June 172013
Euro a Little Lower Against US Dollar Following “Safe” Claim
Earlier today, a member of the European Council proclaimed the euro “safe” and the eurozone economy on the road to recovery. Euro is a little lower against the dollar following this announcement, but this probably has more to do with profit taking after a recent run by the 17-nation currency. The head of the European Council, Herman van Rompuy, said earlier today that the euro is now safe from the threats caused by the financial crisis and the sovereign […]
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June 172013
Indian Interest Rates Unchanged, Rupee Still Weak
The Indian central bank left its interest rates unchanged at today’s policy meeting, but this did not prevent the rupee from falling. The Reserve Bank of India left its main interest rate at 8.25 percent today. The central bank was worried that the slump of the currency may damage inflation. The rupee has fallen about 6 percent against the US dollar this quarter, one of the biggest losers among […]
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June 172013
Vietnamese Dong Stable After Central Bank Intervenes
The Vietnamese dong was stable today after the central bank said that it had intervened to support the currency that was continuously falling. The dong was falling as domestic importers were buying dollars. The State Bank of Vietnam said that it intervened “with reasonable volume” to slow the fall and will continue to watch the exchange rate in order to “flexibly manage money supply channels to control cash flow”. The Vietnamese central […]
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June 172013
What Are Your Short-Term Trading Goals?
Aimless trading may be fun but is closer to gambling than to some mindful financial activity. Although investment industry is more accustomed to measuring and targeting returns over quite long periods of time, retail foreign exchange traders often prefer promises of quick returns. There are three main methods to set your goals in currency trading (or any other type of investment): Currency units (e.g. $100 […]
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