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Day: April 24, 2017
April 242017
Worst Forex Indicator/Tool Ever
Each trader has his or her own best trading tool — be it a simple moving average or a complex system that combines volume, market sentiment indicators, and Elliott Wave count done on Fibonacci numbers. It seems that Forex traders favor the simpler methods. The more straightforward the indicator is, the more fans it has, in my opinion. But when it comes to the indicators that people dislike, things are […]
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April 242017
Canadian Dollar Erases Early Gains as Lower Oil Prices Outweigh Wholesale Data
The Canadian dollar gave up all of the gains it had achieved against its main counterparts earlier on Monday, following a drop in oil prices that weighed on the loonie. Canadian economic data was supportive of the currency today as wholesale sales were better than expected in February, but the positive data was overshadowed by concerns about a global crude oil supply glut. Oil prices shed about 1% today to drag […]
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April 242017
Canadian Dollar Erases Early Gains as Lower Oil Prices Outweigh Wholesale Data
The Canadian dollar gave up all of the gains it had achieved against its main counterparts earlier on Monday, following a drop in oil prices that weighed on the loonie. Canadian economic data was supportive of the currency today as wholesale sales were better than expected in February, but the positive data was overshadowed by concerns about a global crude oil supply glut. Oil prices shed about 1% today to drag […]
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April 242017
Yen Soft as Fears Abate After French Elections
The Japanese yen was soft today after the outcome of the French Presidential elections eased fears on markets. While the currency traded above the Monday’s opening, it was still far below the Friday’s close. Uncertainty about the outcome of the French elections has been one of the reasons for risk aversion on markets. A nightmare scenario would be two euro-skeptic candidates going to the second round of elections. With that outcome averted, investors became […]
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April 242017
EUR/USD Retreats from 5-Month High After French Election
The euro retreated from the opening levels today, but that was after opening sharply higher following the French Presidential election over the weekend. In fact, EUR/USD opened at the highest level since November. With almost all votes counted by now, centrist candidate Emmanuel Macron and far-right Marine Le Pen will go to the second round of elections. According to the opinion polls, Macron should have a healthy lead over Le […]
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