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Day: August 8, 2013
August 82013
Signs of Growth Lift Mexican Peso
The Mexican peso gained today on speculations that the US Federal Reserve will keep stimulus. At the same time, signs of economic growth in the United States improved prospects for Mexican exports. Poor non-farm payrolls made traders believe that the Fed will maintain accommodative policy for longer time than was previously thought. Most other US reports were positive and this is good to Mexico as it ships the vast majority […]
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August 82013
Market Sentiment Makes Canadian Dollar Stronger
Positive market sentiment allowed the Canadian dollar to overcome poor domestic fundamentals, resulting in a sharp advanced against the US dollar and gains against other most-traded currencies. The general market sentiment was risk-positive today as good data from China and Europe made traders less concerned about economic growth. Riskier currencies appreciated as a result. The optimistic mood helped the Canadian currency to shrug off the negative impact of yesterday’s macroeconomic reports. […]
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August 82013
German Data, Risk Appetite Help Euro
German data is helping the euro today, as is the latest speculation that the eurozone economy might be returning to growth. Good news elsewhere is spurring on risk appetite, and that is providing some help for the 17-nation currency as well. The latest news out of Germany is that exports rose 0.6 per cent from May to June. The Federal Statistics Office reports that exports are on the rise for Germany. This […]
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August 82013
Aussie Ignores Domestic Fundamentals, Pays Attention to News from China
Fundamental data from Australia was rather negative today, but it did not hinder the Australian dollar’s rally. The currency gained as Chinese imports increased last month, improving prospects for Australian goods. The Customs General Administration of China reported that the trade surplus decreased $17.8 billion in July from $21.1 billion in June as imports advanced 10.9 percent from a year ago. Imports were down 0.7 percent […]
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August 82013
US Dollar Struggles on Jobless Data, Fed Uncertainty
US dollar is struggling today, heading lower against many of its counterparts, thanks to uncertainty over when the Federal Reserve will begin tapering its asset purchases, as well as the latest jobless data. The question everyone wants answered — from stock investors to Forex traders — is when the Federal Reserve will begin tapering its asset purchases. Recent comments from members of the Federal Reserve Board indicate that […]
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August 82013
Yen Erases Losses as Policy Makers Refrain from Expanding Stimulus
The Japanese yen erased earlier losses and was little changed today after the Bank of Japan left interest rates and the asset purchase program unchanged, confirming that policy makers are not ready to expand stimulus even more. The BoJ left interest rates near zero and maintained the asset purchase program at ¥60–70 trillion (mostly through purchase of Japanese government bonds). Such decision was widely expected by market participants. […]
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August 82013
Book Review: Growing the Money Tree by John Svazic
Growing The Money Tree: Financial Freedom One Leaf At A Time is not strictly about Forex trading. It is a book about attaining a kind of financial freedom, partly via foreign exchange trading. Growing the Money Tree is written by John Svazic, a software developer and FX trader from Canada. The good thing he is not a Forex marketing guru that will try to push you some overpriced […]
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