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Day: January 17, 2014
January 172014
USD Gains on EUR with Support of Fundamentals, Retreats vs. GBP & JPY
The US dollar climbed against the euro today as positive macroeconomic data supported the case for smaller monetary stimulus from the central bank. The currency retreated against the Great Britain pound and the Japanese yen despite supportive fundamentals. The US housing market was strongest almost since 2008 as housing starts were at the seasonally adjusted annual rate of 1.00 million and building permits were at 0.99 million in December. Industrial production expanded by 0.3 […]
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January 172014
Pound Jumps with UK Retail Sales, Outlook Optimistic
The Great Britain pound jumped today as UK retail sales surprised Forex market participants, being far better than most optimistic expectations. It is expected that next week’s macroeconomic data will also be good, allowing the sterling to recover after the decline at the start of this year. UK retail sales demonstrated very strong growth by 2.6 percent in December from the previous month, which was much […]
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January 172014
Is the Weak Loonie Helping the Canadian Economy?
The Canadian dollar continues to weaken in Forex trading, but not everyone is upset about that. There are some who think that the weaker loonie could be a help to the Canadian economy. Right now, there are expectations that the Canadian dollar will remain weak for the near to medium term. Indeed, some analysts believe that the loonie will hit 90 cents against the greenback by the end of the year. Ever […]
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January 172014
Euro Loses Ground Following Construction Data
Euro is losing ground today, falling almost across the board against its major counterparts, as the latest economic data disappoints. This time, it’s the construction data weighing on the 18-nation currency. Euro is heading lower against the other majors today, thanks in large part to the latest construction data. Eurostat reports that construction output fell by 0.6 per cent from October to November. The year over year decline […]
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January 172014
Thai Baht Dips as Political Crisis Unfolds
The Thai baht dropped today as the political crisis is unfolding in Thailand, hurting the economy of the country and driving foreign investors away from nation’s assets. Thai Prime Minister Yingluck Shinawatra has dissolved the parliament in December and was resisting anti-government protests since then. As much as 31 protesters were injured after some device, perhaps home-made bomb, exploded. Analysts speculated that the Thai central bank will be required […]
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January 172014
Chilean Peso Drops on Prospects for Interest Rate Cuts
The Chilean peso fell today after the nation’s central bank kept its key interest rate unchanged yesterday, but suggested than an interest rate cuts are possible in the future. The Central Bank of Chile kept its monetary policy interest rate at 4.5 percent on yesterday’s policy meeting. The central bank had a rather positive outlook for the US and European economies, while the view on the domestic economy was much grimmer: The Chilean […]
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January 172014
US Housing Data Does Not Prevent Drop of EUR/USD
The US housing report showed that the sector was a little worse in December than in the previous month, but it did not prevent EUR/USD from falling. The data was still very strong, adding to signs of economic growth in the United States. The preliminary consumer sentiment index spoiled the positive picture of the US economy, but did not deter the dollar’s rally. Housing starts and building permits fell in December. Housing starts […]
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January 172014
Book Review: The Bull, the Bear, and the Baboon by Winsor Hoang
The Bull, the Bear, and the Baboon: FX Lessons Learned the Hard Way is a unique book in the Forex industry. Unfortunately, it gives an ambiguous impression. Still it is one of the most useful books that a newbie trader may decide to read. The Bull, the Bear, and the Baboon combines fiction (of a mediocre quality) with lessons on the FX market. You get a rather interesting story to follow, with several believable characters, which are based […]
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January 172014
Dollar Gains as Data Suggests More Stimulus Tapering
Several very good economic reports from the United States were released yesterday, suggesting that the Federal Reserve will keep reducing the size of its monthly asset purchases. The dollar profited from this and gained today. The Consumer Price Index rose 0.3 percent in December, unemployment claims fell by 2,000 to 326,000 and the Federal Reserve Bank of Philadelphia manufacturing index advanced from 6.4 to 9.4 in January. All this reports […]
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January 172014
Mexican Peso Suffers from Positive US Data
The Mexican peso fell today as positive macroeconomic data from the United States suggested that the Federal Reserve will be able to proceed with its reduction of stimulus program, hurting investors’ confidence and desire to invest in risky assets. US initial jobless claims fell a little last week and the manufacturing index rose strongly this month, suggesting that the economy of the United States is in a good shape. It is possible […]
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