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Day: November 6, 2017
November 62017
Biggest Forex Myth You Believed in but Later Found out to Be False
The trading world is full of misconceptions, myths, and poorly understood ideas. When a new person joins the ranks of traders, his or her mind is usually crowded with such myths. From the coveted holy grail strategies to the get-rich-quick aspect to the widely advertised easiness of Forex trading — there is no end to the illusions that may hurt the trader’s understanding of the foreign exchange market. The important thing about Forex trading myths […]
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November 62017
Euro Steadies at Lowest Level in 10 Days in Wake of Mixed Services Sector Data
The euro traded within a tight range against the US dollar on Monday, following a mixed picture that was painted by new readings for the services sector within major European economies. A lack of major economic releases in the United States today left traders anticipating additional information on the Republican tax reform plan, which kept the dollar little changed since Friday. IHS Markit, which releases monthly updates for economic activity in major […]
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November 62017
Euro Steadies at Lowest Level in 10 Days in Wake of Mixed Services Sector Data
The euro traded within a tight range against the US dollar on Monday, following a mixed picture that was painted by new readings for the services sector within major European economies. A lack of major economic releases in the United States today left traders anticipating additional information on the Republican tax reform plan, which kept the dollar little changed since Friday. IHS Markit, which releases monthly updates for economic activity in major […]
Read more
November 62017
Pound Ignores Carney’s Pessimistic Comments
The Great Britain pound rose today even though Bank of England Governor Mark Carney made pessimistic comments about the future of the UK economy on Sunday. Carney suggested that the economy will experience a significant slowdown if the government fails to secure a trade deal with the European Union: In the short term, without question, if we have materially less access (to the EUâs single market) than we have […]
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November 62017
Pound Ignores Carney’s Pessimistic Comments
The Great Britain pound rose today even though Bank of England Governor Mark Carney made pessimistic comments about the future of the UK economy on Sunday. Carney suggested that the economy will experience a significant slowdown if the government fails to secure a trade deal with the European Union: In the short term, without question, if we have materially less access (to the EUâs single market) than we have […]
Read more
November 62017
Japanese Yen Falls After Kuroda’s Speech, Quickly Reverses Drop Later
The Japanese yen dropped sharply today after Bank of Japan Governor Haruhiko Kuroda signaled that the central bank is going to maintain monetary stimulus for the a long time. Yet the currency quickly reversed its movement, trimming losses against some currencies, while erasing them outright versus others. Kuroda expressed positive outlook for Japan’s economy in today’s speech, saying that “the economic recovery has taken hold more […]
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November 62017
Japanese Yen Falls After Kuroda’s Speech, Quickly Reverses Drop Later
The Japanese yen dropped sharply today after Bank of Japan Governor Haruhiko Kuroda signaled that the central bank is going to maintain monetary stimulus for the a long time. Yet the currency quickly reversed its movement, trimming losses against some currencies, while erasing them outright versus others. Kuroda expressed positive outlook for Japan’s economy in today’s speech, saying that “the economic recovery has taken hold more […]
Read more