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Day: October 18, 2013
October 182013
Sterling Settles Near Opening Level After Rally
The Great Britain pound was rising today on signs of economic recovery, but retreated to settle near the opening level as Spencer Dale, Executive Director and chief economist of the Bank of England, signaled that reduction of monetary stimulus is not likely next year. Spencer said today that policy makers need to see a “sustained period of strong growth” before tightening monetary policy. Earlier this week, he was also […]
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October 182013
Euro Hits 1.3700 Level Against Greenback Before Falling Back
Euro is higher today, reaching levels not seen since early in the year. Euro actually broke through the 1.3700 level against the US dollar to reach a session high of 1.3705. Since then the euro has eased back a bit, but it is still showing strength as the US dollar shows weakness. Much of the euro’s strength in recent weeks has come as a result of a growing economy and hopes that the eurozone debt […]
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October 182013
Canadian Dollar Falls a Bit Even as Inflation Stable
The Canadian dollar fell a bit against its US peer today, but the drop was small and is likely to be nothing more than a minor correction. The currency also continued to decline against the euro and the Japanese yen, but the decline was nowhere near yesterday’s sharp slump. The Canadian Consumer Prices Index rose 1.1 in September (on a year-over-year basis), the same as in August. Monthly inflation accelerated to 0.2 percent after no […]
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October 182013
Delayed Taper Weighs on US Dollar
News that the Federal Reserve will likely delay its plans to taper its asset purchase program is sending the US dollar lower today. The recent budget battle in the United States has prompted concern amongst policymakers about the economic recovery. Worries about the impact of the recent budget battle in the United States are leading many policymakers to believe that the US economy recovery still needs a little bit of help […]
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October 182013
Thai Baht Rallies, Loses Gains
Asian currencies rallied today as the debt crisis in the United States was resolved, at least temporary. Some of them kept gains, other retreated. The Thai baht was among losers. Riskier currencies were supported by the temporary solution to the US budget stalemate and speculations that the Federal Reserve will not trim stimulus this year. Stable economic growth in China added to optimism of traders. Yet the baht was unable to maintain rally, […]
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October 182013
Won Rallies as Investors Buy South Korean Shares
Investors were buying South Korean stocks more than they were selling, resulting in improving prospects for the nation’s economy and a rally of the won due to the inflow of capital. According to the exchange data, speculators have invested $11.4 billion into South Korean shares since August 23, a record buying streak. It allowed the KOSPI index to reach the highest level in two years today. The won advanced, but the rally is in danger […]
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October 182013
Interview with Ilya Holeu (Spotware)
Spotware Systems is best known for its powerful trading platform cTrader. I have posted about their platform twice and, as you can notice, I have a very positive impression from it, though I, personally, do not use it for my live trading yet. Ilya Holeu, Head of Sales and Marketing at Spotware, offered me an opportunity to interview him regarding the state of the FX platform industry and the future of cTrader. You […]
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October 182013
Aussie Halts Rally Despite Positive News from China
The Australian dollar, as well as other currencies, came roaring to the upside against the US dollar yesterday as a political deal was made that ends the US government shutdown and raises the debt ceiling. The Aussie fell a little versus the euro and was flat against the Japanese yen. Today, the Australian currency halted the rally despite positive data from China. The National Bureau of Statistics of China reported that gross domestic product of the Asian nation […]
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October 182013
CAD Jumps vs. USD, Drops vs. Other Majors
The Canadian dollar jumped against its US counterpart yesterday as temporary measures to avert default in the United States were taken. At the same time, the loonie slumped against other currencies, including the euro and, surprisingly, the Japanese yen. Today, the Canadian currency is trying to reverse yesterday’s moves. The US Congress passed the bill that extends the Treasury’s borrowing authority until February 7 and funding of the government until January 15. The Republicans […]
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