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Day: March 2, 2015
March 22015
Positive Trade Data Doesn’t Support NZ Dollar
The New Zealand dollar dropped today even though macroeconomic data released from the South Pacific country over the weekend was better than economists had anticipated. Statistic New Zealand reported that the Overseas Trade Index dropped 1.9 percent in the fourth quarter of 2014 from the previous three months. While the reading itself was not particularly good, it was better than the forecast drop by 2.9 percent. […]
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March 22015
Aussie Weak Ahead of RBA Decision
The Australian dollar was trading below the opening level today as traders are waiting for tomorrow’s monetary policy decision from the Reserve Bank of Australia. Prospects for an interest rate cut hurt the attractiveness of the Aussie. The RBA will conduct its policy meeting during the early Tuesday’s session, and many analysts believe that the central bank will reduce its main interest rate by 25 basis points to a new historical low of 2 […]
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March 22015
Japanese Yen Mostly Lower After Chinese Rate Cut Announcement
Japanese yen is mostly lower today, weakening as the Chinese rate cut announced recently causes Forex traders to consider what’s next. The yen is weakening again, thanks in large part to the interest rate news out of China. Officials have announced a rate cut, and there is a meeting to create China’s budget and release a new economic growth forecast coming up. There is a great deal of speculation about what this […]
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March 22015
UK Pound Struggles at the Beginning of a Data-Heavy Week
UK pound is struggling today as a new week and a new month get underway. It’s expected to be a data-heavy week, and sterling is expected to be impacted. Right now, the UK pound is lower against its major counterparts. Sterling is starting out the week lower, losing ground to its major counterparts. Concerns that the British economic recovery is flagging are weighing on the UK pound. Against the US […]
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March 22015
EUR/USD Starts Week with Small Gain
EUR/USD rose a little during the first trading session of the current week as macroeconomic data from the United States was disappointing. The currency pair met resistance at the 1.1240 level and is moving down now. Personal income rose 0.3% in January, at the same rate as in December, missing the median forecast of 0.2%. Personal spending decreased by 0.2% — the better reading than in December (-0.3%) but still not as good as the forecast (no change.) (Event […]
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March 22015
What Forex News Sources Do You Prefer?
Getting timely news about the currencies you are dealing with can be crucial in Forex trading. Even if you trade based on technical analysis, real world events may shake the most reliable strategies. For instance, investment banks spend tons of money to keep their trading floors with the freshest and most accurate news on any necessary topic. We, the retail traders, cannot probably match that level […]
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