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Day: October 10, 2013
October 102013
Mexican Peso Gains as S&P Confirms Positive Outlook
The Mexican peso advanced today as Standard & Poor’s affirmed the nation’s credit rating and the positive outlook. The currency also rallied on hopes that US politicians will avoid potentially catastrophic default. S&P confirmed Mexico’s BBB/A-2 foreign currency and A-/A-2 local currency sovereign credit ratings. The rating agency explained its decision: The ratings on Mexico reflect its track record of cautious fiscal and monetary policies, which have contributed […]
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October 102013
US Dollar Loses Ground as Risk Appetite Surges
US dollar is losing ground as risk appetite takes over. After logging gains earlier, the greenback is pulling back as high beta currencies see demand. US stocks have sky rocketed higher, and sentiment is improving, thanks to improve hopes for a budget deal and a debt ceiling deal in the United States. It looks as though Congressional leaders are ready to move forward with a deal to raise the debt ceiling […]
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October 102013
Canadian Dollar Continues to Fluctuate
Canadian dollar is fluctuating today, performing erratically as rumors of a compromise on the debt ceiling issue come from the United States. Loonie is still struggling, though, as oil prices continue to drop, and as home prices data doesn’t quite meet expectations. Canadian dollar is gaining a little ground against European currencies today, but continues to struggle against the US dollar. The latest news out of the United States is that […]
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October 102013
Ceiling for Swiss Franc No Longer Needed?
The recent weakness of the Swiss franc led to speculations that cap on the currency that the Swiss National Bank has introduced in 2011 is no longer necessary. The Swissie declined today, but rebounded later, erasing losses versus the US dollar and reducing the drop against the euro. As of now though, the currency resumed its drop. The franc was not trading near the ceiling of 1.20 per euro this year. This led to speculations […]
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October 102013
BoE Makes No Changes to Policy, Pound Stronger
The Great Britain pound advanced versus the Japanese yen and trimmed its losses against the US dollar today after the Bank of England decided to leave its monetary policy unchanged. As was expected, the BoE made no changes to its policy. The central bank announced: The Bank of England’s Monetary Policy Committee at its meeting on 9 October voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5%. The Committee also […]
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October 102013
Hedging a Binary Option with Spot FX Trade — Case Study
Contents 1 No-Touch Trade Opportunity 2 Protecting Against Risks 2.1 No hedge 2.2 Simple spot hedge without stop-loss 2.3 Simple spot hedge with stop-loss 2.4 Conditional spot hedge with stop-loss 3 Which Hedge Model to Choose? 4 My Trade 5 A Note on Swaps 6 Case Study Results No-Touch Trade Opportunity My recent poll gave me a hint of an interesting binary options […]
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October 102013
Euro Soft vs. Dollar, Strong vs. Yen
Various news from the United States made the euro weaker than the dollar, resulting in the third consecutive session of losses for the shared European currency today. At the same time, positive data from Germany allowed the euro to gain on the Japanese yen. The dollar surged against the euro on the news that US President Barack Obama is going to nominate Janet Yellen as the next head of the Federal Reserve. The minutes of the last Fed policy meeting added […]
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October 102013
Australian Dollar Loses Gains as Employment Disappoints
The Australian dollar dipped today as nation’s employment grew last month less than was expected even though the unemployment rate went down. The currency trimmed gains versus the euro and the Japanese yen and fell against its US counterpart. Australian employment grew by 9,100 jobs, trailing the forecast of 15,200. At the same time, the unemployment rate managed to drop to 5.6 percent. Analysts have though that it would stay at 5.8 […]
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