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Day: January 11, 2016
January 112016
Biggest Forex Scam Pt. VIII (David Lewalski and Jon Hammill)
We continue our series about the notable Forex scams with an article about an enterprise called Botfly LLC, which operated from 2005 through 2010. In a calm state of mind, a close look at the promotional materials of any scammer will quickly reveal to any layman that the offer is too good to be true. However, scammers never find a shortage of investors to prey with their Forex Ponzi schemes. The reason […]
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January 112016
Canadian Dollar Struggles to Keep Gains
The Canadian dollar was struggling to hold onto earlier gains today but had troubles to fight against adverse fundamentals that were trying to drag the currency down. Intraday, the loonie touched new multi-year lows versus the US dollar and the Japanese yen. While the Canadian currency was rising during the current trading session, it has lost its gains versus the greenback and returned back to the opening level against the yen […]
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January 112016
Aussie Heads Higher on Yuan, But Gains Likely Short-Lived
The Australian dollar is higher today, thanks in part to the recent decision to strengthen the yuan. However, the gains are likely to be short-lived, as the Australian economy relies heavily on China. Today, Aussie is regaining some ground lost recently. Australian dollar has been hit by difficulties in China, as well as a drop in the commodities market. Right now, though, there is some support for the Australian dollar. Chinese leaders announced that they […]
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January 112016
Loonie Gets a Little Help from Oil Prices
Loonie is getting a little help today in currency trading on the FX market. Canadian dollar is a little higher as North American markets are set to open a little higher, and as oil prices inch up. Once again, there is a bit of uncertainty in world markets. Chinese markets are starting the week down, but the rest of the world’s markets aren’t being affected as much as last week. Instead, North American markets […]
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January 112016
South African Rand Touches New Record Low
The South African rand sank to the new record low during the current trading session as bad news from China continued to hurt risky currencies of emerging economies. The rand tumbled almost 9 percent intraday before limiting its decline to about 1.5 percent as of now. The drop was the biggest since October 2008. The reason for the decline was yet another bunch of bad news from China that kept the market in the risk-negative […]
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January 112016
NZ Dollar Fights to Bounce amid Adverse Fundamentals
The New Zealand dollar rose a little today, but gains were limited as fundamentals were not particularly positive to the currency, which has been in decline since the beginning of the year. Domestic data was relatively positive as New Zealand building consents rose 1.8 percent in November. It was news from overseas, China specifically, that was troubling. Chinese stocks continued to crash, tumbling more than 5 percent […]
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