BY MarketWatch – Brazilian interest-rate policymakers late Wednesday cut the country’s benchmark interest rate by more than expected, to 9.25%. The cut of the Selic rate by 100 basis points surpasses expectations for a cut of 75 basis points, according to a poll of analysts conducted by Dow Jones Newswires. The reduction marks the fourth time this year that the rate has been cut, and it now stands at its lowest level since the Selic was established in 1999.
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By ForexDistrict- The Dollar and Yen weakened against its major counterparts as Asia stocks gained, spurring demand for higher yielding assets. Higher commodity prices and the strongest gain in Australian consumer confidence in 22 years, helped fuel stocks into positive territory for the first time in three days. Oil and gold prices maintained mome...
By FXSTREET- The Dollar is picking up strength against the Yen and recovery from 97.10 intra-week low in Asian session has extended as the pair managed to break above 97.70 Asian session top. Above 97.70, next resistance levels lie at 97.90/00, where the ppair stands at the moment, and above here, 98.25/30 and 98.75. On ... ...
Technorati Profile By Fast Brokers – The USD/JPY is turning south from our 3rd tier downtrend line as we notice a Dollar appreciation across the board today. We haven’t seen any abnormal volume to the upside on the 1-day chart, leading us to believe that the USD/JPY may remain in its steady downtrend. It would ... ...
Becoming profitable in Forex is a process – like any other profession, it requires competency training. The process of training the mind and acquiring the necessary TA and market skill to obtain competence and trade successfully takes time. Psychology’s competence matrix (often used in both education and change management disciplines) has much ...
(ForexDistrict) – U.S. wholesale inventories declined for the month of April by 1.4%, according to data released by the U.S. Census Bureau. The decline followed a revised -1.8% the month prior, indicating the eight consecutive month of decline among this index. Sales for the month declined 0.4% and are now 19.5% below the level a ... ...
FXstreet.com (Barcelona) – U.S. markets have opened on a moderately positive pace on Tuuesday amid cautious trading ahead of details of which U.S. large banks will repay Government’s TARP funds. Euro and Pound have picked up to resistance levels regaining some of the ground lost in recent declines. Dow Jones Industrials index edges up 0...
“The Wall Street firms that trade directly with the Federal Reserve say speculators betting that interest rates may head higher this year are wrong. Policy makers will keep the target for overnight loans between banks in a range of zero to 0.25 percent this year, according a survey of 15 of the 16 primary dealers ... ...
Going into tomorrow’s US NFP data there are two themes driving my thinking. The first is that NFP Data is not nearly as significant a factor to the markets as it was two years ago when it was singularly the most important piece of data each month. The jobs report will show a huge loss ... ...
EUR/USD has created one of our favored chart patterns. In the below 30 minute timeframe chart, EUR/USD has created a false break out (See previous post regarding EUR/CAD) on the lower Bollinger Band. It has since revisited that level and held. We feel that the 1.4195 – 1.4200 level is a short-term support level. We ... ...