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Day: July 31, 2014
July 312014
USD/CAD Retreats After Touching Highest in Month
The Canadian dollar pared losses against its US peer after a report showed that Canada’s economic growth in May was faster than expected, though USD/CAD reached the highest level in more than a month earlier. The loonie gained versus the euro and was flat against the Japanese yen. Canada’s gross domestic product grew 0.4 percent in May, exceeding the consensus forecast of 0.3 percent. This was a fifth consecutive […]
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July 312014
Euro Continues to Trade Mixed
Euro is trading mixed against its major counterparts again today. The 18-nation currency continues to struggle against the US dollar on policy divergence, but is managing to eke out gains against the pound and the yen today. The latest economic data out of the eurozone isn’t very encouraging. According to Eurostat, consumer prices are slowing in their rise again. The year over year measure is down, and it’s been months […]
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July 312014
Building Approvals Drag Australian Dollar Down
The Australian dollar dropped today, pulled down by building approvals data that was much worse than has been expected. The currency also weakened as the market environment was not favorable to risky currencies after yesterday’s news from the United States. The seasonally adjusted number of total dwellings approved fell 5.0 percent in June after rising 10.3 percent in the previous month. The actual drop was five times bigger […]
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July 312014
Poor US Data Does Not Prevent Drop of EUR/USD
The dollar continued to gain on the euro for the third consecutive trading session today despite worse-than-expected economic reports from the United States. Seasonally adjusted initial jobless claims rose from 279k to 302k last week, in line with exepctations. (Event A on the chart.) Chicago PMI slumped by 10 points to 52.6 in July. It was an unexpected turn of events as analysts have expected an increase to 63.2. (Event B on the chart.) The report said: A monthly […]
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July 312014
E-Book Review: The New Elliott Wave Rule by T.S. Henessy
Back in 2009, T.S. Henessy from NewElliottWaveRule.org has written a free e-book titled . It can now be considered a must-read book for those traders who employ Elliott Wave patterns in their analysis (in Forex and in other financials). Since the book is offered for free, I have decided to read it myself and to share it with my blog’s visitors. It should be said that I am not a fan of Elliott […]
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