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Day: March 24, 2014
March 242014
Dollar Weakens as Policy Makers Talk
The US dollar retreated today as US policy makers were trying to talk down expectations of an interest rate hike that were driving the greenback up last week. The US currency is attempting to regain its footing at the current time, erasing the big part of its losses versus the Great Britain pound and the Japanese yen. St Louis Fed President James Bullard said that Fed Chairperson Janet Yellen’s comment […]
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March 242014
Swiss Franc Remains Under Pressure, Yet Bears Should Be Cautious
The Swiss franc was under pressure from Switzerland’s central bank for a long time as the bank introduced cap on the currency to prevent excessive appreciation and to maintain competitiveness of country’s exporters. Yet analysts suggest that traders do not necessary need to rush taking short positions on the Swissie. Things looked very negative for the Swiss currency, especially after it had lost its risk premium due to the situation in Eastern Europe. Surprisingly […]
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March 242014
Dollar Outlook: Analysts Expect Week of Calm After Week of Strength
The US dollar demonstrated a nice rally last week with help of the policy statement of the Federal Reserve. Is it possible for the greenback to extend its rally this week as well? Truth be told, it is unlikely that the dollar will be able to rally much more over the course of the next five trading days. The rally after the Fed announcement was too big and by the end of the previous week the currency has […]
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March 242014
Japanese Yen Lower as Risk Appetite Appears
There’s a bit of risk appetite in the markets, and the Japanese yen is lower as a result. even though some worries about China and Ukraine initially caused a bit of aversion, things have changed and the yen is moving lower — even against the euro. Forex traders and investors are mostly shrugging off the disappointing growth data out of China, as well as ignoring the continued crisis in Ukraine. While political leaders around the world decry Russia’s […]
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March 242014
Slow Growth Drags Euro Lower
Euro is dragging today, heading lower as slower growth in the eurozone hurts performance. The German data was disappointing, and as was a PMI reading for the entire eurozone. With the dollar firming, thanks to the latest out of the Federal Reserve, it’s no surprise that the euro is struggling. A release of preliminary PMI data for March indicates that the eurozone’s reading has slipped from a 32-month high. Even though the eurozone remains in expansion territory, […]
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March 242014
PBoC Raises Reference Rate, Yuan Advances
The Chinese yuan rose today as the nation’s central bank boosted the reference rate for the currency. The yuan was previously falling after the central bank had widened the trading range for the currency. The Peopleâs Bank of China raised the daily fixing by 0.04 percent to 6.1452 per dollar today. The yuan weakened 0.25 percent on the previous four days after the bank had increased the trading band to 2 percent on the either side of the reference rate, but […]
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March 242014
Aussie Resilient in Face of Poor Chinese Manufacturing PMI
The Australian dollar slipped at the start of the current trading session but rebounded and trades above the opening level as of now. The decline was caused by the worse than expected China’s manufacturing data released over the weekend. The HSBC Flash China Manufacturing Purchasing Managersâ Index dipped from 48.5 in February to 48.1 in March, while analysts have expected an increase to 48.7. Usually, poor economic reports from China push the Australian currency down, […]
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March 242014
Backtesting Strategies Based on Commitments of Traders
You can find a newly published trading system on EarnForex.com today — CoT Report Trading Strategy. It is based on rigorous backtesting of 32 different trading methods that use various data from Commitments of Traders reports released by CFTC. According to the poll, about a half of you are using CoT reports in trading at least occasionally. The presented strategy offers an opportunity for trading based strictly on those reports. Below is […]
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