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Day: January 21, 2015
January 212015
Bank of Canada Shocks Market Cutting Main Interest Rate, CAD Sinks
It looks like central banks decided to rock the market continuously. Last week it was the Swiss Nation Bank that shocked traders, today it was the Bank of Canada that made an unexpected move by cutting its benchmark overnight rate. Needless to say, the Canadian dollar suffered as a result of such decision. The BoC reduced its key interest rate by 25 basis points to 0.75 percent today. The central bank […]
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January 212015
Pound Drops as BoE Minutes Show Unanimous Vote
The Great Britain pound sank today after the Bank of England released minutes of its latest policy meeting, revealing that voting for stable interest rates was unanimous. The BoE minutes demonstrated that all of the Monetary Policy Committee members were voting in favor of keeping monetary policy unchanged. It was considered to be bad news, as previously two of the MPC members were voting for raising interest rates. With those […]
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January 212015
Yen Climbs as BoJ Doesn’t Act
The Japanese yen climbed today after the Bank of Japan refrained from adding monetary stimulus during today’s policy meeting. The currency rose for the first time in four days against the US dollar, jumping as much as 1.2 percent. The yen also climbed 1.4 percent against the Great Britain pound. The BoJ announced today that it will keep its bond purchase program at ¥80 trillion. While such decision was […]
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January 212015
E-Book Review: Consolidation Breakout Signals on the Forex Market by Duane Shepherd
Duane Shepherd is a currency analyst and trader who is running a website www.drfxtrading.blogspot.com. He specializes in swing trading, and his main method of entry into the market appears to be consolidation breakouts. He has written several e-books based on his trading method, and he generously shared one of them with my blog’s readers. is an introductory piece into the technique described as a consolidation breakout by the author. Consolidation breakouts are a more […]
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January 212015
New Zealand Dollar Fragile After Disappointing CPI
The New Zealand dollar managed to eke out some gains against its US counterpart and the euro today following yesterday’s big drop. The currency remained extremely fragile, though, and continued to fall against the Japanese yen. New Zealand’s Consumer Price Index dropped 0.2 percent in the fourth quarter of 2014 even though forecasters promised no change. The reading was also noticeably worse the the previous quarter’s increase by 0.3 percent. […]
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January 212015
Dollar Retains Support as Safe Haven
The US dollar backed off a little today following yesterday’s gains. The currency remains strong as signs of slower global growth support demand for the greenback in its role of a safe haven. There were plenty of reasons for investors to seek safety. One of them was the downward revision of the global growth forecast by the International Monetary Fund. Another was the lackluster growth of the Chinese economy. While the quarterly data was not terrible, China’s economic […]
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