March 16, 2015 – The Plot

March 16
2015

Canadian Dollar Rises a Little, Unable to Beat Euro

The Canadian dollar gained a little on the US dollar and the Japanese yen today after the release of positive economic data from Canada and disappointing reports from the United States. At the same time, the currency logged a substantial drop against the euro. The Forex market reversed its trend during the first trading day of this week as safer currencies were weak while their rivals were relatively firm. The Canadian dollar joined the winners, though […]

March 16
2015

Dollar Comes Under Selling Pressure Ahead of Fed

The US dollar was under selling pressure today because traders are becoming more and more cautious as the Federal Reserve’s policy meeting is nearing. Economic reports from the United States were not helping the greenback either. The US currency demonstrated losses against almost all its major rivals following the rally to the highest level in 11 and half years. There can be several possible explanations for such behavior. […]

March 16
2015

Li Keqiang’s Remarks Drive Yuan Lower

China’s Premier Li Keqiang signaled that policy makers will stimulate the nation’s economy if growth continues to slow. His speech led to a jump of Chinese shares, but the yuan was trading lower at the start of the week. Li Keqiang said at the press-conference on the weekend: The good news is that in the past couple of years we did not resort to massive stimulus measures for economic growth. He then added: That has […]

March 16
2015

UK Pound Recovers Some of Last Week’s Losses

UK pound is in the process of recovering some of last week’s losses right now. Thanks to profit taking and a little hope for the future, sterling is gaining some ground against the US dollar. Like other major currencies, the pound is down against the euro today. However, sterling is gaining ground against the dollar and the yen as risk appetite makes an appearance. Profit taking after last week’s drop is also […]

March 16
2015

Euro Rebounds Against Major Counterparts

Euro is rebounding against its major counterparts today, heading higher after last week’s debacle. Thanks to some comments by a member of the ECB Governing Council, the euro is seeing some strength today. It may not last, however. Euro is heading higher today, gaining against its major counterparts. The gains come after a rough week in which the continued to hit new low after new low. […]

March 16
2015

Swiss Franc Falls vs. Euro, Gains on Dollar

The Swiss franc edged down against the euro during the current trading session after the release of disappointing macroeconomic data from Switzerland. At the same time, the currency managed to rise a bit against the US dollar. The Swiss Producer Price Index dropped 1.4 percent in February while economists promised an increase by 0.4 percent. Retail sales inched down 0.3 percent in January from a year ago even though analysts predicted growth […]

March 16
2015

What Devices Do You Use for Trading?

Times when the mainstream Forex trading software could only run on Windows computers while only few narrowly specialized platforms existed for anything else are long gone. Nowadays, currency traders live a world where they can comfortably trade from almost any hardware platform they wish to. Such popular trading platform as MetaTrader can be run via compatibility layers on non-Windows PCs and can […]

March 16
2015

Dollar Retreats Ahead of Fed Meeting

The US dollar was broadly weaker against other currencies, including the euro, today as Forex traders were cautious ahead of the Federal Reserve’s policy meeting that will start tomorrow. EUR/USD retreated from its daily highs, forming a double-top pattern on the 15-minute chart, but remains above the opening level as of now. NY Empire State Index demonstrated a drop from 7.8 in February to 6.9 in March versus the predicted […]

Day: March 16, 2015