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Day: August 31, 2015
August 312015
Pound Soft Even as Carney Talks About Tightening
The Great Britain pound was very soft against its major rivals on Monday. The currency demonstrated unimpressive performance even though the head of the nation’s central bank confirmed during the weekend that policy makers still plan to tighten monetary policy down the road. Mark Carney, Bank of England Governor, was speaking in Jackson Hole on Sunday. He said that the troubles of China’s economy will not change the central bank’s […]
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August 312015
Canadian Dollar Follows Bounce of Oil Prices
The Canadian dollar, as it often happens, followed moves of crude oil prices during Monday. This resulted in losses initially but a bounce closer to the end of the trading session. Prices for crude oil have been falling during the first half of the Monday’s session, dragging the loonie down along with them. Yet crude soared more than 8 percent later, rescuing the currency. The Canadian dollar strongly linked to the performance of oil […]
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August 312015
US Dollar Loses Ground as Carry Trades Dominate
With traders looking for safe haven in an unsettled global market, the US dollar is heading lower. Greenback is struggling as Forex traders turn to the yen and to the euro. Worries about China remain strong today, and global stocks are falling as a result. US stocks have opened lower, with the Dow dropping more than 100 points almost immediately. Around the world, especially in Asia, stocks have been falling. Slowdown […]
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August 312015
Euro Gains Ground as Traders Treat it Like a Safe Haven
Euro is gaining ground today, thanks to the fact that many Forex traders are treating the 19-nation currency like a safe haven. Euro is trading a lot like the Japanese yen right now, and that is leading to gains as concerns about the global economy, particularly in light of today’s performance in Asian markets, weigh on high beta currencies. Euro correlation with the yen is getting tighter. Indeed, the correlation is […]
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August 312015
NZ Dollar Suffers from Domestic Data & Negative Market Sentiment
The New Zealand dollar dropped today due to some poor macroeconomic data as well as the general risk-negative market sentiment that hurt commodities linked to growth. The ANZ Business Confidence index slid from -15.3 in July to -29.1 in August. The report named several reasons for the pessimistic outlook of New Zealand businessmen, including the drop of commodity prices and the faltering economic growth of China. The data was detrimental for the New Zealand currency as was the risk-averse […]
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August 312015
Yen Feels Stronger After Jackson Hole Symposium
The Japanese yen gained today against some of its most-traded peers, including the US dollar and the Great Britain pound, thanks to the surge of risk aversion on the Forex market following the conclusion of the Jackson Hole symposium. Investors were not pleased to hear that central bankers of developed nations have troubles boosting inflation to the levels they want. The pessimistic tone of the meeting resulted in yet another drop of global stocks. The yen usually thrives […]
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August 312015
Methods of Deposit and Withdrawal in Online Forex
Five years ago, I have asked my readers about their preferred way of funding a Forex trading account. The results, unsurprisingly, showed a significant bias in favor of credit cards and PayPal. During the five years that passed, many things have changed in the payment systems and their availability to the Forex traders. Credit/debit cards — a staple online payment method with all its insecurities (credit card data can be stolen) and inconveniences […]
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