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Day: August 1, 2016
August 12016
EUR/USD Slips, Losses Minimal
While EUR/USD fell a little during Monday’s trading, the drop was very small and not nearly enough to compensate the Friday’s jump due to the poor GDP report. Now, traders are bracing themselves for nonfarm payrolls released on August 5 and potential impact of the employment data on markets. Markit manufacturing PMI was at 52.9 in July, up from 51.3 in the preceding month, according to the revised estimate. The actual reading was the same as the preliminary […]
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August 12016
How Do You Prefer Your MetaTrader Input Parameters?
As an MQL4 and MQL5 developer, I often wonder — what is the best way of presenting the input parameters to control the behavior of the indicators and expert advisors I create? Input parameters are vitally important — Forex traders should easily understand which one does what. If you make input parameters too complex — users will flood you with questions. However, the MetaTrader platform has its own limits for the inputs’ descriptions. Moreover, […]
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August 12016
Euro Mostly Higher, But Losses Could Be Coming
Euro is mostly higher today, but losses could be coming. Against some of its major counterparts, the euro is gaining ground, even though the 19-nation currency is down against the US dollar. However, recent data hasn’t been positive enough to rule out more stimulus from the ECB, and that means potential losses for the euro in the medium to long term. Today, the euro is doing reasonably well […]
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August 12016
Greenback Gains Ground After Last Week’s Losses
US dollar is gaining some ground today, improving following last week’s losses. Forex traders are looking ahead to Friday’s nonfarm payrolls, and there are still expectations that the Federal Reserve may raise interest rates by the end of the year. Last week was rough for the greenback against its counterparts in Forex trading. The dollar lost a lot of ground with the release of disappointing GDP data for the second quarter. Today, […]
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August 12016
Pound Goes Down as UK Manufacturing PMI Revised Lower
The Great Britain pound moved lower against its major rivals during Monday’s trading as the nation’s manufacturing sector contracted in July even more than had been previously estimated. The revised Markit/CIPS manufacturing Purchasing Managersâ Index dropped to 48.2 in July from 52.4 in June, below the flash reading of 49.1. It was the lowest level since February 2013. The data reinforced the view that the Bank of England should cut […]
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August 12016
Chinese Yuan Lower vs. US Dollar
The Chinese yuan fell against the US dollar today after mixed economic data from China released over the trading session. China’s services Purchasing Managers’ Index rose from 53.7 to 53.9 in July according to the government data. Meanwhile, the official manufacturing PMI declined from the neutral level of 50.0 to 49.9, indicating a small contraction. At the same time, the private Caixin manufacturing PMI demonstrated an opposite behavior, rising from 48.6 […]
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