Day: January 2, 2015

January 2
2015

Malaysian Ringgit Dragged Down by Oil Prices & Strong Dollar

The Malaysian ringgit dropped against the US dollar today as a drop of crude oil prices should reduce trading revenue of Malaysia — a net oil exporter. Additionally, the greenback was strong on its own right. While crude oil attempted to reverse its decline, the commodity was unable to keep its upward momentum. Signs of oversupply on the energy market did not allow prices to keep bullish tendencies. The ringgit dropped because of this […]

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January 2
2015

Pound Drops to Lowest Since August 2013 vs. Dollar

The Great Britain pound sank today, reaching the lowest level since August 2013 against the US dollar, as UK manufacturing slowed unexpectedly by the end of the year. The data suggested that the nation’s central bank will not be in a hurry to start raising interest rates. The seasonally adjusted Markit/CIPS manufacturing Purchasing Managers’ Index dropped from 53.3 in October to 52.5 in December. Market participants counted on an increase to 53.7. The report added to speculations […]

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January 2
2015

EUR/USD Starts Year with Drop

The dollar started the year on a strong note even though US economic indicators were disappointing. In fact, EUR/USD opened sharply lower and fell to the new multi-year low over the current trading session. ISM manufacturing PMI dropped from 58.7% in November to 55.5% in December. The actual drop was much bigger than a decline to 57.6% predicted by analysts. (Event A on the chart.) Construction spending fell 0.3% in November from October. This is […]

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January 2
2015

Forecast for 2015 — Forex, Gold, Oil, Interest Rates

Although my 2014 forecast was not as bad as the one I posted for 2013, it was not too accurate either. It is now time to offer my expectations for the year 2015. I will also comment on my 2014 forecast and the actual outcome for every financial instrument. Contents 1 EUR/USD 2 GBP/USD 3 USD/JPY 4 EUR/CHF 5 Oil 6 Gold 7 Interest rates EUR/USD My bearish scenario forecast for 2014 played […]

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