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Day: June 5, 2017
June 52017
Canadian Dollar Erases Earlier Losses as Weak US Data Overshadows Lower Oil Prices
The Canadian dollar rose against its US counterpart on Monday to erase losses it had posted earlier following a drop in oil prices. A slew of economic releases in the United States uncovered lackluster data, which weighed on the US dollar and gave way for the loonie to move higher today. Despite initial gains, oil prices declined today as a political rift between Qatar and other Arab countries widened. Saudi Arabia, Egypt, United […]
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June 52017
Canadian Dollar Erases Earlier Losses as Weak US Data Overshadows Lower Oil Prices
The Canadian dollar rose against its US counterpart on Monday to erase losses it had posted earlier following a drop in oil prices. A slew of economic releases in the United States uncovered lackluster data, which weighed on the US dollar and gave way for the loonie to move higher today. Despite initial gains, oil prices declined today as a political rift between Qatar and other Arab countries widened. Saudi Arabia, Egypt, United […]
Read more
June 52017
How Do You Measure Trading Success in Forex?
Typically, when a Forex trader closes a position, the outcome is either positive (gain) or negative (loss); the breakeven trades happen but are quite rare and uninteresting. Trading platforms usually display the outcome as the value in pips or currency units, or both. Detailed account reports can also show them in percentage to the account balance at the moment of trade’s liquidation. Some reports also produce complex risk-adjusted metrics based on several trades, e.g. […]
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June 52017
EUR/USD Drops Even as US Services Sector Fails to Meet Expectations
EUR/USD dropped today even as growth of the US services sector slowed, and other economic indicators were also unimpressive. Traders focus on the policy decision of the European Central Bank scheduled for June 8. No changes to the existing policy are expected, but market participants count on a more hawkish statement from the ECB. Nonfarm productivity showed no change in the first quarter of 2017 while experts had predicted the same 0.6% drop […]
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June 52017
Chilean Peso Logs Limited Gains Against US Dollar
The Chilean peso rallied against the US dollar today, though the gains were limited as Chile’s central bank reduced its forecast for nation’s economic growth this year. The Central Bank of Chile released its quarterly Monetary Policy Report today. In the report, the central bank lowered the growth forecast for 2017 from 1%-2% range to 1%-1.75%. Despite that, the policy makers expected that no additional monetary stimulus should be […]
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June 52017
Chilean Peso Logs Limited Gains Against US Dollar
The Chilean peso rallied against the US dollar today, though the gains were limited as Chile’s central bank reduced its forecast for nation’s economic growth this year. The Central Bank of Chile released its quarterly Monetary Policy Report today. In the report, the central bank lowered the growth forecast for 2017 from 1%-2% range to 1%-1.75%. Despite that, the policy makers expected that no additional monetary stimulus should be […]
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June 52017
US Dollar Weakens Against Some of Its Main Peers on Soft US Data
The US dollar as tracked by the US Dollar index weakened against its main peers today after the release of weak US macro data. The greenback ignored the poor non-farm payrolls released on Friday by starting the week on an upward trend before retracing some of its gains after the release of disappointing US ISM services data. The US dollar opened today’s session on an upward trend given that the US Dollar index hit a daily […]
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June 52017
US Dollar Weakens Against Some of Its Main Peers on Soft US Data
The US dollar as tracked by the US Dollar index weakened against its main peers today after the release of weak US macro data. The greenback ignored the poor non-farm payrolls released on Friday by starting the week on an upward trend before retracing some of its gains after the release of disappointing US ISM services data. The US dollar opened today’s session on an upward trend given that the US Dollar index hit a daily […]
Read more
June 52017
Mexican Peso Climbs as Political Concerns Wane
The Mexican peso climbed today, rising against the US dollar to the highest level since November 9, the day when Donald Trump won the US presidential elections, leading to massive losses for Mexico’s currency. Mexico’s leftist National Regeneration Movement (MORENA) lost the election in the key State of Mexico to the ruling Institutional Revolutionary Party. Markets distrust MORENA’s leader Andres Manuel Lopez Obrador, viewing him as one who opposes economic […]
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June 52017
Mexican Peso Climbs as Political Concerns Wane
The Mexican peso climbed today, rising against the US dollar to the highest level since November 9, the day when Donald Trump won the US presidential elections, leading to massive losses for Mexico’s currency. Mexico’s leftist National Regeneration Movement (MORENA) lost the election in the key State of Mexico to the ruling Institutional Revolutionary Party. Markets distrust MORENA’s leader Andres Manuel Lopez Obrador, viewing him as one who opposes economic […]
Read more