There are new companies launched every day in the forex world. Well nigh on half of them are selling products that involve getting rich quick by trading news. Trouble is, few execution services are good enough for people to consistently make money trading news. This is the case even in the world […]
One pound gets two dollars? Almost. Just before 8AM EST this morning the British pound reached 1.9917 dollars. This makes it the highest it’s seen since 1992, and is very close ( about 200 pips or two pennies away) to a 26 year high from back in 1982! Numbers have been strong out of the […]
After hitting the top of the range for the fourth time and turning around, the USD/CAD looked as though it would make the round back to the bottom again. But that would have been too easy right? So instead it drops over 100 pips yesterday only to come back and close only down 40, and […]
Talk about China’s currency never stops. So much so that most Americans have probably heard enough to develop an opinion on where the Chinese Yuan or Renminbi (RMB) is likely to go next. Trouble is, when they attempt to actually trade based on their view, they quickly realize that speculating is either impossible […]
China dominates headlines when it comes to foreign exchange reserves and global trade imbalances. Every day a new article is posted on one of the major financial news outlets decrying China’s continuing buildup of foreign reserves, and their increasingly large trade surplus with the US. When their reserves moved past the $1 trillion […]
Oil is big news, and these days movements in the US Dollar–known euphemistically as the greenback–are as well. It’s rare, however, that the dollar is at risk of being affected by a meeting of the Organization of the Petroleum Exporting Countries (OPEC). That may change next week.
OPEC has been in the news of […]
EUR/USD and GBP/USD have been slaughtering the dollar recently, but we haven’t seen as much movement in the non-European currencies against the dollar. That may end soon. The width of the Bollinger Bands on the monthly chart are the lowest in over 10 years for the AUD/USD. The pair has tried and […]
Following the foreign exchange markets closely we have to post about the dollar. The EUR/USD broke above 1.32 today for the first time since early 2005. So after the 5000 pip three year rally from .85 (60% gain), the most the seventeen consecutive rate hikes by the Federal Reserve would cause the […]