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Day: August 26, 2013
August 262013
Dollar Fluctuates as Speculations About QE Tampering Continue
The US dollar fluctuated today, without moving in any particular direction, as traders continued to speculate if the Federal Reserve will tamper its quantitative easing program as soon as the next month. As was expected, the US currency continued to follow the outlook for Fed’s QE tampering that was constantly changing. Durable goods orders slumped 7.3 percent in July, more than twice the forecast decrease. The report followed poor housing data […]
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August 262013
Indonesian Rupiah Falls as Traders Think Policy Makers Do Not Do Enough
The Indonesian rupiah followed the Brazilian real in decline. The reason for the drop was the same: Forex traders were unconvinced by efforts that the central bank was making to revive the nation’s economy. The Indonesian current account deficit was the record $9.8 billion last quarter of this year. To address the issue, Finance Minister Chatib Basri announced last week that the government will offer tax reduction for exporters, while the Bank Indonesia is […]
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August 262013
Brazilian Real Drops as Central Bank’s Efforts Leave Traders Unconvinced
The Brazilian real dropped today as Forex traders were unsure if the measure taken by the central bank will be enough to support the currency that demonstrates profound weakness. The Banco Central do Brasil auctioned 10,000 foreign-exchange swaps today. Last week, the central bank indicated that it is going to offer $1 billion of loans every Friday and $500 million worth of currency swaps four times per week […]
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August 262013
UK Pound Picks Up Steam
After trading lower at the end of last week, the UK pound is picking up some steam, turning it around against the yen, and moving higher against the US dollar. At the end of last week, the UK pound appeared ready to give up. Even with a better growth report, the pound was heading lower. The Office for National Statistics reported that business investing in the United Kingdom grew 0.9 per cent during […]
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August 262013
Another Difficult Week for Dollar Traders Ahead? Very Likely
The US dollar has experienced a rather volatile week as traders were digesting the words of the Federal Reserve about its future monetary policy. What does the current week hold for the greenback? Perhaps, yet another period of unpredictable moves. Recently, the US currency was mainly driven by speculations about possible quantitative easing tampering. Such talks will likely affect the behavior of the currency in the near future, meaning that the dollar will […]
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August 262013
Japanese Yen Gains Against Other Major Currencies
Japanese yen is gaining against majors today, showing some strength as concerns about the Fed tapering program’s timing cause uncertainty and as Forex traders look ahead to the sales tax hike expected in Japan. Right now, there are expectations of a sales tax hike in Japan, and it’s one of the signs that Prime Minister Shinzo Abe is truly ready to go through with the reforms he promised. Japan has […]
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August 262013
EUR/USD Pares Losses After US Durable Goods Orders Report
EUR/USD was slowly moving down today, but sharply bounced, erasing losses, after the durable goods orders report came out significantly worse than was expected. The release followed last week’s housing data that was not good either. Previously, the dollar was supported by anticipation of quantitative easing tampering in September, but prospects for stimulus reduction look less probable after the recent negative reports. Durable […]
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August 262013
What Is Your Advantage over Other Forex Traders?
Foreign exchange market is huge — its daily turnover is the greatest of all the financial markets, its intraday volatility is very high. This creates a lot of profit earning opportunities. The problem is that for every winning side, there is a losing side. For an average retail trader to win consistently, it is necessary possess some advantage over other participants — the factor that will distinguish him from […]
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