That question often comes up among Forex traders especially beginners. There is no fundamental source of information that tells us how currency pairs are fairing against one another. However, we can always analyze the periodic surveys done by the central banks and financial authorities. Since these reports are based on the survey of banks, they do not exactly indicate accurate activity on the retail level of Forex trading. Read more
Statistics released on Friday revealed that the annual inflation rate in Canada fell to the lowest level in more than three years to a 0.8 percent in November, following a 1.2% gain in October. This is a more than expected rate by analysts who had forecasted a decline of two-tenths of a per cent. Read more
US House Speaker Boehner unexpectedly cancelled the vote after failing to round up enough support from the Republican party as many Republicans are opposed to tax hikes on the richest Americans.
The bill, known as “Plan B”, anticipates limiting income-tax increases to the wealthiest Americans or those who earn $1 million and more.
The “fiscal cliff” deal stalled once again as President Barack Obama expressed his opposition towards the latest proposal put forward by the Republicans who intend to pass their own alternative bill on taxes through the House later today.
The US 500 (SPI) and US Tech (NDQ) dived following the headlines on Boehner withdrawing the fiscal cliff plan vote. The GER 30 (DAX) followed suit after a new record high at 7673.8.
Meanwhile, in the Euro-zone, consumer confidence rose to -26.6 in December, from -26.9 in November. In Germany, the producer price index edged down 0.1% in November, after staying flat in the previous month. Economists were looking for a 0.2% decline. Separately, import prices remained unchanged compared to October, when they decreased by 0.6%. The index was forecast to fall 0.2% (MoM) in November.
One of the most important natural resources we have is crude oil. This is widely used in different sectors especially in emerging countries like India and China. The GDP of these two countries reveal their fast growth and have become the top buyers of oil in the world market. As a whole, Asia is the largest consumer of oil and accounts for more than 31% of the global oil demand. Read more
The euro has surged to its highest level against the US dollar in 8 months as sentiment continued to stabilize in the Euro zone. Economic data released Wednesday revealed a stronger than expected confidence in Germany, with its confidence index rising to 102.4 in December from 101.4 the month before. Economists’ expectations were 102. The European Central Bank (ECB) acknowledged Greece’ progress and were positive about bank supervision. Read more