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Day: February 8, 2016
February 82016
Dollar Struggles as Fed Monetary Tightening in Question
The US dollar gained on the Great Britain pound but retreated versus the euro and the Japanese yen on Monday as traders continue to question the ability of the Federal Reserve to continue its interest rate hike cycle this year. The Fed has raised interest rates in December for the first time in nearly a decade. Some economists were arguing that was not a good decision as the US economy is not in shape yet to endure tighter monetary […]
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February 82016
Canadian Dollar Fails to Hold onto Gains
The Canadian dollar failed to hold onto its earlier gains and dropped by the end of Monday’s trading session due to the rout of crude oil prices. Crude oil was demonstrating impressive performance last week thanks to speculations about a potential deal among oil producers to reduce output, thus easing oversupply on the market. The loonie was marching along with oil prices to the upside. Yet now market analysts speculate that the deal […]
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February 82016
Biggest Forex Scam Pt. X (Christopher B. Cornett)
Unlike other financial markets, the Forex market has very little legal and capital restrictions. Thus, it is a blessing for a beginner who lacks financial strength. However, con artists misuse the FX market for their personal gains. Thus, it is a must to scrutinize the schemes related to the foreign exchange trading. Only then an investor can avoid emotional and material pitfalls and stay away from the fraudsters. A little bit of online […]
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February 82016
Euro Heads Higher, Even as Global Stocks Tumble
Euro is heading higher today, even though global stocks are falling and there is some risk aversion entering the markets. Gold prices are on the rise, though, and that seems to be providing a bit of a boost to the 19-nation currency. Euro is getting some help today, thanks in large part to higher gold prices. Gold is moving higher, gaining more than $35 an ounce as global stocks plunge […]
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February 82016
Rupee Weakens as India’s Economic Growth Slows
The Indian rupee fell against the US dollar today among concerns about India’s slowing economic growth and the bout of risk aversion on the Forex market. India’s gross domestic product expanded 7.3 percent in the December quarter compared to 7.7 percent growth in the September quarter. The data, as well as the general risk-negative sentiment of traders, led to the drop of the rupee. Despite the slowdown, India remains one of the fastest-growing economies in the world. USD/INR ticked up from […]
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February 82016
Global Stocks Sink Benefiting Japanese Yen
The Japanese yen rallied today as the drop of crude oil led to a rout of global stocks which in turn resulted in risk aversion and demand for safe haven assets. Crude oil has attempted to rally intraday but failed to keep gains and retreated below the opening level. European stocks dropped more than 2 percent as a result, joined by equities of other regions in a decline. The yen profited from this, getting additional support from […]
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February 82016
Canadian Data Doesn’t Do Much for the Loonie
The latest Canadian data release, from the end of last week, hasn’t been doing much to help the loonie in Forex trading. Although the Canadian dollar is getting a bit of help against some of the high beta currencies like the pound and the euro, it is down against the dollar and the yen. Loonie is mixed in currency trading today, struggling against the dollar as oil prices continue to struggle and as economic data is discouraging. At the end […]
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