“The other side of that is that people are clearly http://www.etftradingsignals.com using it to wind up the speculative trade we saw last year.” The yuan recovered some ground in early European trade but still lost 0.87 percent for the week, its biggest weekly loss on record. It weakened briefly to as low 6.1808 per dollar, 0.8 percent below Thursday’s close, before recovering to 6.1431 and is now down 1.4 percent in the past 10 days. That may sound like a modest turnaround, but represents a sea change in one of the past decade’s most reliable trades – a steadily stronger yuan against the dollar – and comes at a time of investor nervousness over Chinese growth. “The move over the past week has caught a lot of people by surprise and that has injected a lot of volatility into the market,” said Mellor. “I think Chinese authorities are not just aiming to widen the band on the yuan with this move, I think they are also as concerned about growth and the aim here is to put a stop to the steady appreciation we have seen in recent years.” The other big mover in early European trade was the Swedish crown, which rose sharply against the euro and the dollar after the economy expanded three times faster than expected in the fourth quarter.
Regulator Firm to Pay $16.7 Million to Settle Allegations of Withholding Profits From Clients By Biography Updated Feb. 26, 2014 4:28 p.m. ET LONDONForeign-exchange trading firm FXCM Inc. agreed to pay fines and refunds totaling almost 10 million ($16.7 million) to settle allegations by a U.K. financial regulator that the company withheld profits from clients and failed to inform British authorities that it was under investigation in the U.S. The Financial Conduct Authority said that U.K.
One-third of economists polled by Reuters have pencilled in a cut in the ECB’s refinancing rate from the current 0.25 percent at its March 6 meeting. The kiwi dollar rose 0.2 percent on the day to $0.8389. Earlier, it touched a peak of $0.8415, its highest level since mid-January. One possible resistance level lies at $0.8433, a peak hit on Jan.
This suggests it is premature to enter short for now. On the other hand, a long position would require taking as given the still baseless assumption that support will hold. On balance, we will opt not to force the issue and wait for greater clarify before taking a trade. Confirm your chart-based trade setups with the Technical Analyzer . New to FX? Start Here !
For example, traders arenot liable for taxation on financial gains from spread betting. Furthermore, stamp dutyis notincurred, making Forex spread betting aninvestment opportunity with a number of advantages over direct ownership of underlying assets. Additionally, traders have full control over the entry/exit levels by way of profit targets and stop losses. In other words, traders can easily close a position once a profit has been generated or alternatively close out a position once losses have reached a certain level. The volatility of the markets especially the foreign currency markets necessitates greater levels of trader involvement during every stage of the process.