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Day: July 29, 2013
July 292013
South Korean Won Rises, Reverses Gains
The South Korean won rose today before falling later as exporters were converting their earnings to the local currency. Worsening manufacturing conditions prevented the won from rallying too much and led to eventual decline. Exporters were selling dollars as the end of the month is nearing and this allowed the won to rally. Gains were limited, though, as importers were buying dollars at the same time. The report from the Bank of Korea that showed […]
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July 292013
NZ Dollar Drops as Government Wants Weaker Currency
The New Zealand dollar dropped today after Prime Minister John Key expressed opinion that the currency’s strength is still excessive and voiced hope that the kiwi will depreciate. Key said today: We are likely to see a depreciation of the New Zealand dollar against the U.S. dollar, and thatâs welcomed because the governmentâs view is that foreign-exchange rate is still overvalued. Last week, Reserve Bank Governor […]
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July 292013
UK Pound Mixed After Economic Releases
In a big week for economic data, the UK pound is mixed following today’s earlier releases. Pound drifted higher briefly, before falling against its low-beta counterparts, even while remaining higher against the euro. UK mortgage approvals data was released earlier, indicating that things aren’t going quite as well as hoped. Expectations were for an increase in mortgage approvals of 597,000, but instead that number came in at 577,000. […]
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July 292013
Euro Lower Ahead of Busy Week
This week is expected to be very busy, and the euro is lower today in anticipation. There is a lot of economic data expected this week, as well as central bank decisions to be made. Many Forex traders will be watching this week for signs that global economies are on the mend. There is special interest in the eurozone and in the United States. However, expectations are that the US economy will come […]
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July 292013
Missed Trades — How Do You Treat Them?
If your currency trading process is not 100% automated (and your EA is up and running 24/7), the chances are that sometimes you miss trading opportunities — whether it is some breakout you failed to notice or a new range market you did not recognize, or a fundamental event you overlooked. Forex traders hate such situations — you spot the trading set-up, but you also realize […]
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July 292013
EUR/USD Down, Traders Wait for FOMC Meeting
EUR/USD dropped today after rallying for the most part of the last week. Traders expect for the result of the Federal Reserve meeting that starts today and will be concluded tomorrow. No major moves are expected, but Forex market participants hope to hear hints on stimulus tampering. The decline of pending home sales decreases chances for reduction of stimulus, but the dollar managed to gain today still. Pending home sales fell 0.4% […]
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