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Day: June 3, 2014
June 32014
Traders Speculate that Brazilian Central Bank Won’t Support Real
The Brazilian real is volatile today as Forex traders speculated that the central bank will not be supporting the currency anymore, refraining from an intervention in the currency market, but the actions of the bank make such viewpoint questionable. The program of foreign-exchange swaps introduced last year was supporting the real, and last month’s comments of central bank President Alexandre Tombini about reducing demand for swaps were interpreted as a signs that the central […]
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June 32014
Forex Traders Continue to Bet Against Loonie
Canadian dollar is lower today, continuing its weakness. Forex traders expect the Bank of Canada to keep rates steady this week, and a hike isn’t expected anytime soon. Loonie is heading lower today, after a brief show of strength earlier. Forex traders and speculators are keeping the Canadian dollar lower, continuing to bet on long-term weakness. A lot of this belief comes from the fact that a sluggish economy means […]
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June 32014
Deflation Worries Don’t Stop Euro Today
Poor economic data continues to be the norm in the eurozone, but that hasn’t stopped the euro today. Even with concerns about deflation and a stagnant job market, the euro is moving higher today. Eurostat just released its latest inflation numbers, showing that the annual inflation rate is at 0.5 per cent in May. In April, the rate was 0.7 per cent. This indicates that deflation could become […]
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June 32014
UK Pound Gains as HPI Rises
The Great Britain pound advanced today after a good report about house prices, yet gains were limited as not all today’s data from the United Kingdom was particularly good. The Nationwide House Price Index rose 0.7 percent in May, exactly as was predicted, registering the thirteenth consecutive increase. At the same time, the Markit/CIPS UK Construction Purchasing Managersâ Index demonstrated a drop from 60.8 to 60.0 last month. […]
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June 32014
Australian Dollar Firmer as RBA Does Not Act
The Australian dollar advanced today after the Reserve Bank of Australia refrained from action and reiterated that monetary policy will likely remain the same for a prolonged period of time. As was expected, the RBA left its main interest rate at 2.5 percent at today’s policy meeting. The central bank maintained the same outlook for monetary policy as before: On present indications, the most prudent course is likely to be a period of stability in interest rates. […]
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June 32014
Book Review: The Encyclopedia of Trading Strategies by Jeffrey Katz and Donna McCormick
As its name suggests, Encyclopedia of Trading Strategies contains descriptions of many trading strategies. But, for an encyclopedia, it is structured quite unconventionally and, also, its purpose is different from that of a normal encyclopedia. Contents 1 Structure 2 Purpose 3 The Authors 4 Why I Recommend This Book 5 What You Will Not Find in This Book Structure The book is divided into three big […]
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June 32014
Aussie Drops as Domestic Data Outweighs China’s Report
The Australian dollar fell yesterday and remained soft today, even though the Aussie trimmed its losses against some currencies. The good manufacturing report from China was not able to help the Australian currency as domestic data was not particularly supportive. The government report showed that the number of building permits fell 5.6 percent in April from March in Australia instead of rising 2.1 percent as was predicted by analysts. Other […]
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