Day: May 12, 2014

May 12
2014

Forecast: ECB Made Things Difficult for Euro

The euro experienced tremendous weakness recently due to the negative surprise from the European Central Bank. Can the shared European currency overcome the bearish impact of the ECB announcement or it will continue to move lower? The European Central Bank provided an unpleasant surprise for euro bulls in form of comments from President Mario Draghi. The central bank did not change its monetary policy, as was expected, but Draghi said that he […]

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May 12
2014

US Dollar Loses Ground After Russian Comments

Greenback is heading lower today, dropping after seeing some gains earlier. Now, though, with concerns about what’s next for Ukraine back in the news, the dollar is losing ground to many of its major counterparts as gold prices rise dramatically. Over the weekend, two regions in Ukraine held referendums on splitting off. Russian comments following the results indicate that it will support separatists — even though the government […]

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May 12
2014

UK Pound Heading Higher Against Other Majors

The UK pound is heading higher against other majors today, gaining ground after a disappointing end to last week. After giving up some of its recent gains, the pound has consolidated and is on firmer footing as it heads a little higher against the US dollar and the euro. Last week, the UK pound ended with a struggle. Concerns about the sterling were raised, even though the economic data in the United Kingdom […]

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May 12
2014

Won Drops as Government Concerned About Speculative Bets

The South Korean won dropped today as the nation’s government warned against speculative bets on the currency. Officials were worried that the herd behavior of traders results in sharp moves and unwarranted volatility of the exchange rate. The growing South Korea’s economy was attracting overseas investors, and this resulted in a huge jump for the currency last week. This worried the government, and it warned against the one-sided bets on the exchange rate. The won fell as a result, but […]

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May 12
2014

Indian Rupee Strong Ahead of Exit Polls

The Indian rupee advanced today on speculations that the elections will result in a victory of the main opposition party, which may initiate much needed reforms to bolster the struggling nation’s economy. The elections that have started on April 7 will end today and the exit polls will be released at the evening. Opinion polls ahead of the announcement show that the Bharatiya Janata Party will get the majority seats in the government. The official tally will […]

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May 12
2014

Why Did You Start Trading Forex?

There are many reasons to involve yourself in Forex trading. The biggest one is probably the promise of huge earnings advertised by brokers. Indeed, the potential offered by the currency market is nearly limitless. One could call such a reason for trading ridiculous as the potential for profit in gambling is very high too. Moreover, money in an online casino can be won (and lost) even faster than in Forex. However, the potential of the FX market […]

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