Breaking News
November 21
2007

U.K. Monetary Policy Committee Minutes Released

Minutes of the last (7 and 8 November) Bank of England Monetary Policy Committee were released today, showing the vision for the U.K. economy by the committee members. As the interest rates decision was known by the traders already — BoE left rates unchanged at 5.75%, the major interest was drawn to the exact voting details. Seven committee members voted for the rates to remain as they were, while two other members — David Blanchflower (who voted for the rates […]

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November 21
2007

Pessimistic Indicators from U.S.

U.S. dollar looks unsure whether to fall or to rise on the Forex market after some important macroeconomic indicators were released today. One of the most important data came out from the University of Michigan and Reuters — Michigan Sentiments Index, which represents consumer confidence. Consumer confidence is important, because it will determine future consumer spendings that in their turn fuel the U.S. economy growth. Michigan Sentiments Index […]

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November 21
2007

Fed’s Projections – Uncertain

Federal Reserve’s FOMC published its first meeting minutes to include the 3-year projections of the committee members regarding the GDP growth, consumer prices inflation and unemployment rate. While the average projection expectations didn’t differ greatly (except for the year 2008) from this year’s results, the uncertainty of the inflation projections spoke for itself — Fed is unsure of the impact the interest rates manipulations will have on the consumer prices growth. The wide range for the next […]

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November 21
2007

Chinese Yuan Shows Some Growth

Chinese yuan gained against dollar during today’s trading session in Shanghai, reaching 7.425 yuan/dollar rate. This appreciation of yuan was caused mainly by the falling U.S. dollar against euro, pound and other currencies. While free market laws try to pull up yuan against dollar and other world currencies, government of China does a lot of […]

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November 20
2007

Scalping Forex Strategy Article

Now you can read a new Forex article on my site — Scalping The Forex Market For Profits Every Day (by Dean Sauders). As you can guess from its title it is about scalping. This article offers an interesting scalping strategy based on the big amount of Weighted Moving Average. Basically, it is a support and resistance system traded on M1 charts with 24 different levels. Scalping this way gives […]

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November 20
2007

Mixed Housing Data and FOMC Minutes

EUR/USD is hitting its all-time record high level beyond 1.4800 after the pessimistic analysts’ forecasts on housing data appeared to be almost completely true today. Housing Starts for the October grew to a seasonally adjusted annual rate of 1.229 million, compared to 1.193 million in September and 1.175 million expected for this month. Meanwhile Building Permits dropped significantly — October seasonally adjusted annual rate appeared 1.178 million, compared […]

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November 20
2007

Yen Falls on Risk Hungry Markets

Japanese yen restarted its falling against other world currencies today (even against the dropping dollar) as the risk hungry investors begin to reenter carry trades. While the Nikkei 225 index gained a little more than 1 percent — first rising day after four consecutive losing days, Yen lost more than 1 percent of its value to the high-yielding currencies. Among highest gainers against JPY today […]

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November 20
2007

EUR/USD on Record High

As the Forex traders wait for today’s housing data release, EUR/USD reached its new historical maximum at 1.4778. With just a little trailing back it continues to hover around 1.4770 level ready to strike again to probable 1.4800 level. Markets await a huge decline in Housing Starts and Building Permits releases today. Both data reports […]

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November 19
2007

U.A.E. and Qatar are Ready to Abandon Dollar

United Arab Emirates and Qatar may drop their currencies’ pegs to dollar without waiting for their GCC partners, Omar Bin Sulaiman the governor of the Dubai International Financial Centre said. Increased pressure from that falling dollar, wounded by the mortgage crisis in U.S., inflicts vulnerability on these Middle Eastern oil exporting countries. As it was […]

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November 18
2007

G-20 Soft Call to China

Group of 20, which summit ended today in Cape Town, South Africa, has released its statement. To some surprise it didn’t contain any strong implications to China’s monetary policy, as some expected. Although E.U., Canada and U.S. officials were motivated to bring China to the faster decisions, which could lead to the yuan appreciation, it […]

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