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Day: August 19, 2013
August 192013
Aussie Climbs at Beginning of Trading Session, Loses Gains
The Australian dollar went higher at the beginning of the trading week, but was unable to keep gains and went down as traders continued to wait of the minutes of the last central bank’s meeting. The Reserve Bank of Australia will release the minutes of its August policy meeting tomorrow. The central bank signaled after cutting interest rates that it is not planning to continue rate cuts anymore. Market participants hope that the minutes will […]
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August 192013
Yen Continues to Drop Against Majors
Yen is continuing its drop today against its major counterparts, heading lower as the word spreads that a weaker yen is helping Japanese exports. With the economy picking up and exports on the rise, Japanese officials are likely encouraged by the effects that a weakened yen is having. The latest data released by Japan’s Ministry of Finance shows that exports are on the rise. Japanese exports of electronics and cars indicate a recovery […]
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August 192013
Euro Gains on Bundesbank Comments About Inflation
Euro is higher today, gaining on comments from Germany’s central bank. The idea that the ECB could raise interest rates soon as a curb to inflation has some traders wondering if such a rate hike could be coming. As a result, the euro is moving higher. Even though the European Central Bank has promised to keep interest rates low in order to help spur the eurozone economy and save the euro, the Bundesbank […]
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August 192013
CBI Raises Growth Forecast of UK, Benefiting Pound
The Great Britain pound strengthened today as Confederation of British Industry raised its forecast of UK economic growth, reinforcing the positive outlook for Britain’s economy and increasing attractiveness of the currency to Forex traders. CBI increased its estimate for Britain’s growth this year from 1 percent to 1.2 percent. For 2014, the forecast was boosted from 2 percent to 2.3 percent. John Cridland, the CBI Director-General, said: The economy has started to gain […]
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August 192013
NZD Rallies on PPI, Loses Gains vs. USD
The week has started with positive news for the New Zealand dollar as a report showed that the Producer Price Index rose last quarter. The currency jumped on the data initially, but weakened later and erased gains against its US peer completely as of now. The PPI output rose 1 percent in the second quarter of 2013, beating the forecast of 0.7 percent. The PPI input grew 0.6 percent, in line with expectations. Not all […]
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August 192013
Entry and Exit Rules Based on Risk-to-Reward Ratio
It strikes me how some traders use their reward-to-risk ratio as a base for setting either take-profit or stop-loss of their positions. They usually follow these steps or similar: set stop-loss to some important chart level, multiply the stop-loss in pips by desired reward-to-risk ratio and get the take-profit level from it. In reality, it should be the other way around. One part of a trading system should dictate the take-profit and stop-loss […]
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