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Day: July 15, 2013
July 152013
Yen Falls on Outlook for Fed & BoJ Policies
The Japanese yen fell today on speculations that the Federal Reserve may trim its stimulating program, while it is not likely that the Bank of Japan will reduce its asset purchases in the foreseeable future. Last week’s comments of Fed Chairman Ben Bernanke hushed talks about a reduction of quantitative easing, but did not stop them altogether. Bernanke testifies this week too and market participants wait […]
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July 152013
Canadian Dollar Falls as US Retail Sales Below Forecast
The Canadian dollar declined today, trimming last week’s huge gains against the greenback, as US retail sales missed forecast, worsening prospects for Canadian exports. Retail sales rose 0.4 percent in June, slower than the analysts’ estimate of 0.7 percent. The core components of the sales were unchanged instead of expanding 0.5 percent as was predicted. The United States is the most important trading partner of Canada. The Canadian dollar has rallied […]
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July 152013
Euro Struggles as Concerns Return
Once again, concerns are returning to the eurozone, and the 17-nation currency is struggling because of it. After last week’s performance, and mixed results for the US dollar, the euro had the upper hand. But today there is a lot of uncertainty and speculation about what’s next for the eurozone. On Thursday, the ECB Monthly Bulletin was released. A lot of the initial release was swallowed up in the release of the most recent Federal Reserve minutes. However, Forex […]
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July 152013
US Dollar Heads Higher After Last Week’s Sell Off
US dollar is seeing some gains today, thanks to expectations of economic improvement. Greenback is also getting some help following last week’s sell off as Forex traders look to get back into the dollar at a bargain. Greenback is heading higher today as Forex traders expected better US retail sales data. There is speculation that an improved number could weigh on the decision to begin tapering the Federal […]
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July 152013
USD/IDR Rises Above 10,000 as China’s Growth Disappoints
The Indonesian rupiah fell today, dropping below the 10,000 per dollar level for the first time since 2009, as slower-than-expected China’s economic growth damped prospects for Indonesia’s exports. Growth of the biggest Asian economy disappointed traders and spurred mild risk aversion, being below market expectations. China is the biggest importer of Indonesian goods. The Indonesian central bank was attempting to support the currency, selling dollars, but it looks like […]
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July 152013
Aussie Loses Gains vs. Greenback as China’s Growth Misses Expectations
The Australian dollar rallied today even as China’s growth estimate missed analysts’ forecasts. The currency erased the gains against the US dollar later, but remained firm versus the Japanese yen. China’s gross domestic product expanded 7.5 percent in the second quarter of 2013, according to the National Bureau of Statistics. Market participants have hoped that growth would stay at the first quarter’s rate of 7.7 percent. China is the biggest trading […]
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July 152013
Are You Honest About Your Forex Losses?
They say that in order to progress in something you have to track your success objectively. In my opinion, being honest about losses is a crucial prerequisite to trader’s prosperity. Unfortunately, it is not always easy to face the truth about one’s failures and sometimes it is even harder to tell about your mistakes to someone else, even a complete stranger. In reality, doing so would be quite beneficial to your […]
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July 152013
EUR/USD Drops, Trims Decline on Disappointing US Retail Sales
EUR/USD was heading lower today, but bounced after US retail sales disappointed traders, showing growth that was smaller than expected. The rally was short-lived and the euro may yet retreat to the session’s lows. Retail sales increased 0.4% in June, missing the predicted 0.7%. The May’s change was revised from 0.6% to 0.5%. (Event A on the chart.) NY Empire State Index rose from 7.8 in June to 9.5 […]
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