Breaking News
April 11
2008

MetaTrader Indicators Update

Two new MetaTrader indicators are now available for download from my site. Both indicators come from forex-tsd.com forums. They are very different, but they both looked quite interesting and useful to me. Murrey Math Line X — indicates a set of support and resistance lines that can be used similarly to the common pivot points. It consists of 8 different lines, each representing a certain pivot […]

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April 11
2008

Chile to Buy U.S. Dollars to Weaken Peso

The Central Bank of Chile will be buying the U.S. dollars in 2008 in order to stimulate the economy by the weaker national currency. This year, starting April 14 Chile’s central bank will be buying $50 million every day on the Forex market to increase the overal country’s currency reserves from current $18 billion to $26 billion. This step is rather controversial as the weakening of the peso will spur the consumer prices, while the […]

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April 10
2008

Chinese Yuan Closes Below 7 per Dollar

The Chinese yuan ended the domestic OTC trading session today below 7 yuan per U.S. dollar level — for the first time since the end of the peg to dollar in 2005. After USD/CNY closed at 7.0016 yesterday, the exchange rate of the Chinese currency went up today and traded in the 6.9930-6.9907 boundaries on the OTC Forex market. Since November 2007, China’s government is working to appreciate the yuan […]

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April 10
2008

BoE Cuts Rate, ECB Holds again

Both Bank of England and the European Central Bank acted as expected today during their monetary policy meetings — BoE cut the interest rate to 5.00% and ECB left them unchanged at 4.00%. Facing the problems in the housing and the financial sectors of the economy, the Bank of England, decided to lower the interest rate from 5.25% to 5.00% today. Relatively low inflation allows them to use the interest rate cuts as the main tool to stimulate the economic growth. The European […]

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April 10
2008

USD Rises on Better Fundamentals

EUR/USD reached a new record high level at 1.5913 today, but after some positive fundamental data was released in U.S. the currency pair went down, as the dollar started to regain strength on the Forex market. ECB’s decision to hold the interest rates at 4% also improved dollar’s positions on the market. Initial jobless claims unexpectedly fell by 53k the last week — from the revised 410k value to 357k. A fall to 383k has been expected by the market analysts. February […]

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April 9
2008

Yen Steady on Forex after Rates Unchanged

The Japanese yen is holding steady on the Forex market today after interest rate was left unchanged at 0.5% and the stock markets fell slightly. The new head of the Bank of Japan, Masaaki Shirakawa, didn’t bring any surprises to the first monetary policy under his lead. Although he noted that there are problems in the economy that are keeping down the growth, the […]

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April 9
2008

EarnForex Newsletter Announcement

Apart from some minor site redesign I’ve added a new feature to the site today — Forex newsletter. You can subscribe to it for free and receive monthly issues of the newsletter with a lot of interesting Forex information. The core of the newsletter is going to be composed of all the main Forex events for the month, some fundamental analysis and the news from the on-line Forex industry. […]

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April 8
2008

Pound Slides as House Prices Fall 2.5%

The Great Britain pound fell sharply today against dollar, euro and yen as the house prices fell in March by 2.5%, indicating that the country’s mortgage market slump is not over yet. Halifax House Price Index — a housing report of HBOSplc — showed a 2.5% decline in prices for March with the annual growth (March 2008 to March 2007) at as little as 1.1%, significantly below the overall CPI level in the United Kingdom (2.5%). HBOSplc expects that there […]

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April 7
2008

Test Your Technical Analysis Skills

Are your technical skills good enough to earn by themselves? Can you trade without any fundamental information? Is technical analysis can be considered a self-sufficient tool at all? You can try to find the answers to these questions using an interesting financial training tool from Inspectd.com. It shows you only a bare six months chart of an unknown stock with only one moving average as an indicator. You have to decide […]

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April 7
2008

ZAR Gains on Rising National Reserves

The South African rand grew today against the U.S. dollar (and the other world currencies too, because dollar is rising today) as the report showed an increase in the country’s foreign currency reserves in March. It’s worthy to say that the rand usually fluctuates in a linear dependence to the U.S. dollar — it rises sharper than dollar, but when dollar is bearish rand is falling even faster. So, this day […]

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