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Day: March 8, 2014
March 82014
Dollar Ends Week with Losses Despite Ukraine & NFP
The US dollar was unable to rally today against most other major currencies even though the geopolitical situation looked favorably to the greenback at the start of the week. The domestic employment report added some strength to the currency by the end of the week, but did not prevent losses against most majors. The greenback profited from the situation in Eastern Europe as the conflict between Russia and Ukraine intensified. The currency was losing its appeal as tensions eased, […]
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March 82014
EUR/USD Holds Ground After NFP
EUR/USD closed higher yesterday, though it trimmed gains after the release of better-than-expected US nonfarm payrolls. Intraday, the currency pair reached the highest level since October 2011 as the recent European Central Bank statement led to speculations that the bank is not going introduce more stimulus in the future. Such talks were beneficial to the euro. Nonfarm payrolls demonstrated growth by 175k in February, which was above the market expectations […]
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March 82014
Forex Technical Analysis for Week 03/10â03/14
Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.3539 1.3623 1.3747 1.3831 1.3955 1.4038 1.4163 GBP/USD 1.6501 1.6571 1.6647 1.6716 1.6792 1.6861 1.6937 USD/JPY 99.18 100.19 101.74 102.75 104.30 105.31 106.86 EUR/JPY 135.73 137.44 140.37 142.07 145.00 146.71 149.64 GBP/JPY 165.10 166.95 169.85 171.71 174.61 […]
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March 82014
Forex Brokers Update — March 8th, 2014
Another broker has been added to the listings this week: xCFD — a regulated New Zealand company with a custom proprietary trading platform, which unites Forex, stocks, indexes, bonds and binary options trading. The minimum account size is just $100, but, unfortunately, they do not offer demo accounts. xCFD There were some updates pertaining to the languages of the listed brokers this week: Questrade FX added […]
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March 82014
Chinese Default Makes Chilean Peso Worst Performer on FX Market
The Chilean peso sank yesterday, being the worst performer on the Forex market, as copper prices slumped after the news about a company default in China. It spurred fears and drove investors away from raw materials and commodity-related currencies. Shanghai Chaori Solar Energy Science & Technology was unable to repay interest on its bonds. It was the first default of a Chinese company in history, and it sparked concerns that more defaults […]
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March 82014
CAD Suffers from Poor Canadian Employment Data
The Canadian dollar ended Friday with big losses after the domestic employment report disappointed Forex traders, while the US employment data added to the woes, driving most major currencies down against the US dollar. Canadian employment fell by 7,000 in February, being nowhere near the analysts’ estimate of 16,900 growth. The unemployment rate was steady at 7.0 percent. As a bit of good news, the trade balance deficit narrowed from $922 […]
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