Day: October 26, 2013

October 26
2013

Bank of Canada Makes Week Bad for Canadian Dollar

This week was bad for the Canadian dollar as the central bank hurt the currency after it dropped its hawkish stance and refrained from mentioning plans for an interest rate hike. It looks like the Bank of Canada is less certain about its ability to raise interest rates in the foreseeable future. This greatly hurt the Canadian currency, which was already weak due to risk aversion caused by monetary tightening in China. Even […]

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October 26
2013

Forex Technical Analysis for Week 10/28–11/01

Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.3513 1.3582 1.3694 1.3763 1.3875 1.3944 1.4057 GBP/USD 1.5970 1.6043 1.6111 1.6183 1.6251 1.6324 1.6392 USD/JPY 95.18 96.05 96.72 97.60 98.26 99.14 99.80 EUR/JPY 131.63 132.61 133.53 134.51 135.43 136.42 137.34 GBP/JPY 153.77 155.31 156.43 157.97 159.09 […]

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October 26
2013

NZD Falls as Wheeler Says Exchange Rate Too Strong

The New Zealand dollar dropped on the last trading day of this week as Reserve Bank Governor Graeme Wheeler said that the exchange rate is too strong and it prevents raising interest rates “at the moment”. Previously, the RBNZ has suggested in its policy statement that an interest rate hike is likely in 2014. Indeed, Wheeler confirmed in an interview with Radio New Zealand that policy makers are planning to start […]

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