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Day: February 12, 2014
February 122014
UK Pound Gains Ground Against Major Counterparts
UK pound is heading higher today, gaining ground as the economic picture improves, markets head higher, and the Bank of England is expected to move forward with a policy to step down its asset purchase program. Even though Bank of England Governor Mark Carney expressed that a low-rate policy will remain in place for the foreseeable future, many analysts and others expect the BOE to step down its asset purchase program, […]
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February 122014
Loonie Mixed in Forex Trading
It’s been an interesting few days for the loonie, and today the Canadian currency is mixed on the Forex market. However, even with the mixed performance, the Canadian dollar is mostly higher against its major counterparts. Even though things appear to be slowing a bit for the Canadian economy, the loonie is getting a little boost — at least against the US dollar. Recent housing starts data showed that things had slowed down […]
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February 122014
EUR/USD Down with Eurozone Industrial Production
EUR/USD fell today as the eurozone industrial production declined 0.7% in December, more than was predicted by analysts. (Event A on the chart.) The data added to speculations that the European Central Bank may consider an interest rate cut next month. Meanwhile, the US economic indicators were better than expected. Crude oil inventories increased by 3.3 million barrels last week and are in the upper half of the average range for this time of year. […]
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February 122014
Refreshing Old Backtests Reveals Some Problems and Gems
I had been looking at the expert advisors list presented on EarnForex.com and decided it was a good time to refresh the backtests for many of them. Some of those backtests were 6 years old. Of course, something should have changed in the markets since 2007. It is important to retest and reanalyze your strategies from time to time to see if they are still working or if they have just got lucky during […]
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February 122014
Kiwi Follows Other Growth-Related Currencies in Gains
The performance of the New Zealand dollar did not differ from that of other growth-related currencies. In other words, the kiwi, as the New Zealand currency is nicknamed, was rising on the back of the positive market sentiment. The major reason for the traders’ mood to be upbeat was the release of Chinese trade data, which was surprisingly good, during the Asian trading session. Imports advanced 10 percent in January from a year ago, compared to the median […]
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February 122014
Aussie Maintains Rally with Help of Chinese Economic Data
The Australian dollar continued to show strength today with the help of a positive trade balance report from China. The currency managed to hold onto gains even as domestic data was not helpful, showing a decline of consumer sentiment. Chinese imports surged, but this did not prevent an increase of the nation’s trade surplus from $25.6 billion to $31.9 billion. The data improves prospects for Australia’s exports to the nation’s biggest trading partner. […]
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