The Chinese yuan rose against the US dollar today. The reason for the gain was not like usual factors that drive the currency market but rather a direct influence of the nation’s central bank. The yuan fell versus the euro. Today, the Peopleâs Bank of China set the daily reference rate for the currency at the strongest level in three months. While the recent stream of underwhelming economic data and news about stimulus might have driven other […]
Read moreThe Great Britain pound rallied against its major peers today, extending the upward move that has started at the beginning of the last week. The currency rose even though yesterday’s economic data from the United Kingdom was rather negative. The sterling has received support from Bank of England policy minutes earlier this week, and it looks like the report was positive enough to continue push the currency higher till […]
Read moreGreenback looks to be ready to close out this week lower, thanks to a raft of data and a bit of profit taking. Also weighing on the dollar is a sense of waiting. The Fed meets next week, and many Forex traders are waiting for the outcome of that meeting. Right now, it looks as though the Federal Reserve might have to put off some of its plans for tightening. Concerns about the durable goods data is on the rise, […]
Read moreThe Mexican peso fell today against the US dollar but some investors remain very bullish on the currency, hoping that the growth of the US economy will benefit the peso. Despite the drop of the peso, there are hopes that recovery in the United States, Mexico’s major trading partner, will benefit the Mexican economy and its currency. Prospects for economic reforms in Mexico also provide support for the peso. While the Mexican currency remains vulnerable […]
Read moreIf you ever wondered what is the total cumulative risk of your currently open orders and positions, then my latest MetaTrader tool — Risk Calculator — will help you to answer that question even if you have many orders with interwoven stop-loss and take-profit levels. Although, I am not a proponent of the grid trading systems, they seem to be quite popular. At the same time, it is nearly impossible […]
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