With mixed results versus its primary currency counterparts, the British Pound appears to be consolidating many of its trends towards a volatile movement; positioned to take place today, it appears. The Bank of England's rate decision and policy statement at 11:00 GMT may be today's leading news event and forex traders won't want to miss out on the volatility which is sure to follow this release. [caption id="attachment_1904" align="alignright" width="124" caption="BOE "][/caption]
The Dollar Index traded near the weakest level in almost a ... ( read more )
Archive for September, 2009
September 10, 2009 - Daily Forex Tips – September 10th 2009
GBP – 11:00 GMT- MPC Rate Statement + Official Bank Rate
- This is one of the primary tools the Bank Of England's (BOE) Monetary Policy Committee (MPC) uses to communicate its monetary policy decision
- It contains the outcome of their vote on interest rates as well as other policy measures. It also discusses current economic conditions and provides an economic outlook as well as clues on future interest rate votes.
- While the Interest Rate is unlikely to change, the statement itself is highly important since it will illustrate th... ( read more )
September 9, 2009 - Daily Forex Tips – September 9th 2009
[caption id="attachment_1818" align="alignright" width="128" caption="Daily Forex Tips"][/caption]There are two important events happening in today's trading. The first is the sudden drop in value of the USD yesterday and the subsequent corrections we may see today. The second is the break-through past the $1000 resistance level for Gold, which may help this commodity maintain a price above this mark for some time as investors protect themselves from inflationary fears.
Today's Leading Indicators:
12:15 GMT: CAD Housing Starts
- Number... ( read more )
September 8, 2009 - Daily Forex Tips – September 8th 2009
The GBP slid against a number of currencies yesterday, as traders dropped the Pound for equities, as the global stock markets rallied. Additionally, in many cases, the EUR gained due to positive economic figures from Germany, Europe's largest economy.
Both the EUR and GBP are expected to be at the forefront of trading today. These 2 currencies recorded very thin volume on Monday, due to the bank holidays in both the U.S. and Canada.
08:30 GMT: GBP – Manufacturing Production
• Measures the change in the total inflation adjusted value... ( read more )
September 7, 2009 - Forex Traders Expect Low Volatily Today On the USD
Today is a quiet news day for the U.S. and Canada, as there are no economic data releases on the calendar today. However, Britain and Euro-zone appear to be releasing the bulk of today's news, which means we may see a day of trading with low liquidity and therefore increased volatility. Day-traders can take advantage of these intense trading days by swinging within the larger-than-normal price fluctuations. [caption id="attachment_1822" align="alignright" width="128" caption="Low Volatility Expected For the USD"][/caption]
The US Dollar expe... ( read more )