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Find Out All About Forex Trading
Prior to the close of trading on Friday, 20 February, several major currencies appreciated strongly against the U.S. dollar for no apparent reason. Many forex traders, including some of the “big money,” were caught napping when the landslide began and before they could reposition their stops to ride out what seemed to be a short-term [...]
Week ending 20 February 2009: The forex trading week was wracked by risk aversion, rotten worldwide fundamental data, and growing tension regarding U.S. trade protectionism, the spectre of U.S. bank nationalisation, and Western European banking exposure to the Central and Eastern European “C4” nations. Near closing Friday many traders pulled long bets on USD, resulting [...]
Prior to this weekend, the commodity currencies and the Euro benefited from waning risk aversion while the safe-haven currencies including the Japanese yen, the Swiss franc, and the U.S. dollar, strengthened from its waxing.
This created some contraindicative trading signals, such as USD rising after its latest negative GDP announcement, and EUR completely ignoring the recent [...]
Week ending 13 February 2009: Renewed risk aversion sent the forex trading market on a volatile ride within narrow ranges as the U.S. economic stimulus and bank rescue initiatives failed to either stimulate or rescue.
The Australian economy added 1.2K jobs in January although the unemployment rate ticked up to 4.8%, and ANZ job advertisements fell [...]
The U.S. Treasury Secretary recently appointed, Timothy Geithner, on Tuesday announced the broad outline of the long-anticipated bank rescue scheme. The market was not impressed and risk aversion reasserted itself through the safe-haven currencies, in particular USD and JPY.
The bank rescue scheme announced consists of four distinct parts:
1. Recapitalizing bank balance sheets through a Financial [...]
Week ending 6 February 2009: Another round of mixed data saw investors developing tougher hides this forex trading week, ending in increased risk appetite benefiting mainly the commodity and higher-yielding currencies.
As expected, the RBA slashed rates by 100bps to 3.25%, easing 400bps since September. December new home sales fell −1.7% m/m, building approvals −32.9% y/y, [...]
Week ending 30 January 2009: This forex trading week, signs of a gradual thaw in credit markets eased risk aversion early on, but week’s end saw renewed strength in safe haven currencies.
The RBA meets Tuesday, 3 February, and is expected to lower rates by 50–100bps from the current 4.25%. The 4Q2008 PPI rose 1.3% q/q [...]
