Wednesday, January 22, 2014
We began today's trading webinar by discussing the price behavior in both the EUR/USD, USD/CAD & GBP//CAD pair, and the reasons for the weakness in the loonie over the last few months. After the BOC (Bank of Canada) released their policy statement today, and left rates unchanged, the greenback soared against the Canadian dollar as the central bank began to show signs of leaning towards a more dovish position. There are deep concerns about low inflation in Canada that may push the BOC to adopt an easing bias and this will effect most of the CAD crosses, with rallies in USD/CAD or GBP/CAD, like we saw today.
Meanwhile, we also saw a strong lift in Sterling (GBP), after the UK unemployment rate fell to 7.1%. This figure is only slightly above the 7.0% target that the BOE (Bank of England), indicated may be a trigger for a possible interest rate hike.
In today's V.I.P. webinar, we briefly discuss the current price behavior in the EUR/USD pair and the fundamental news & events pushing market prices. We also searched for opportunities to place a few live trades using the Slumdog Forex trading system.
Thursday, January 16, 2014
During today's trading webinar, we discussed the price behavior in both the EUR/USD & AUD/USD pair, and the strong recovery seen in the greenback after the dismal Non-Farm Payroll reading from last Friday.
The Aussie fell 140 pips and sunk to its lowest level in 3 years due to soft employment numbers for the month of December. Employment dropped 22,600 versus the forecast of 10,000 jobs created for December and labor participation fell to its lowest level in 8 years.This news put downward pressure on the Aussie which triggered other commodity based currencies to follow suit as well.
US dollar weakened against the euro & yen after CPI (Consumer Price Index) data showed that overall inflation in the US is still weak, which allows the FED to take their time reducing the size of its taper each month.
In today's V.I.P. webinar, we briefly discuss the current price behavior in the EUR/USD pair and the fundamental news & events pushing market prices. We also attempt to place a few live trades using the Slumdog Forex trading system.