The government wants to change that by opening Mexico up to foreign oil firms. Investors are loving this. It bodes well for the peso. The Mexican peso has weakened by 9% since May, when tapering was first mentioned by the Fed. But the pesos decline was consistent with the general volatility seen in emerging markets over the summer.
Forex: Dollar Directionless As Data Drought Drags On
Investors flocked to perceived safe havens like the yen and the Swiss franc, driving the dollar to it weakest since mid-August against the Japanese currency. As the U.S. government moved into the second week of a shutdown and an Oct. 17 deadline to increase the nation’s borrowing limit approaches, neither Republicans nor Democrats offered any sign of impending agreement on either the shutdown or the debt ceiling. Both blamed the other side for the impasse.
Although Yellen is known for her dovish stance, which should ideally be dollar-negative, strategists said the decision fuelled risk sentiment and helped the dollar gain, especially against safe-haven currencies like the yen and the Swiss franc. Obama will announce his selection of Yellen later on Wednesday. If confirmed by the U.S. Senate, Yellen would replace Ben Bernanke, whose term ends on Jan. 31. The dollar index erased early losses thanks to the weaker yen, and was up about 0.5 percent at 80.245, edging away from the 79.627 trough hit last Thursday, a low not seen since early February.
FOREX-Dollar rises as Yellen tapped to be next Fed chief
By accessing the Yahoo! site, you agree not to redistribute the information found therein. Fundamental company data provided by Capital IQ . Historical chart data and daily updates provided by Commodity Systems, Inc.
Forex Strategy: AUD/USD Long, GBP/USD Short in Play
As people have turned to online dating services to meet their ideal match, forex traders can turn to stochastics as a way of making the trend the their friend again. Learn Forex: Stochastics Showing Entries in GBPUSD Uptrend (Created using FXCMs Marketscope 2.0 charts) In an uptrend on a daily chart, stochastics %K and %D lines moving below the horizontal 20 reference line and coming back above the 20 line indicates that the profit -taking correction is coming to an end. The stochastic crossing up also tells us that buyers are beginning to enter the market again. In addition, this shows that there is good support. How to Trade the Trend Using Stochastics Patience is the name of the game when attempting to trade with the trend.
Pinpointing Forex Trend Trade Entries with Stochastics
It, however, said it is coordinating closely with authorities in other countries as multiple banks around the world are potentially implicated. Asked about FINMA’s consultations with Indian authorities on this matter or signs of Indian forex market manipulation , a FINMA spokesperson said: “Unfortunately I cannot give any further details…”. The UK accounts for the largest share of 40.9 per cent in the global forex markets, followed by the US at 18.9 per cent, Singapore at 5.7 per cent, Japan at 5.6 per cent, Hong Kong at 4.1 per cent and Switzerland at 3.2 per cent. While India’s share is only 0.5 per cent, the rupee figures among the 20 most traded foreign currencies globally. While a widening current account deficit (CAD) click and fears of capital outflows have been cited as majors reasons for the Indian rupee’s recent depreciation, it is believed that speculation in the non-deliverable currency forwards (NDF) market has also pushed down the currency.
Rupee, other forex manipulations face global regulatory probe
government will broker a last minute deal to avoid a messy default. Even the rating agencies are managing to buy in to the same train of thought – Moody’s Investor Service says there is a “very low” chance of a default occurring. Mind you, if the U.S. happens to miss a payment, the ratings agencies will likely respond by putting America in “selective default” until payments are made. However, a default is a default and if it happens it could end up impacting the U.S.’s cherished ratings. Previously, Moody’s and Fitch Ratings gave the U.S.