Fri, 20 Apr 2012 02:15:00 +0400
Since next Friday till next Sunday the meeting of the heads of tax authorities from the countries of the "Big Twenty" will be held in Washington. Major issue to be discussed is the possibility to expand the resources of International Monetary Fund, the necessity of which was pronounced by IMF Managing Director Christine Lagarde on April 04, 2012 in her appeal to industrial countries. IMF empowerment is stipulated by the necessity to resist crisis developments, including the ones in eurozone.
In general, the participants of the forum have given the appeal preliminary support. "We have been promised to receive over 316 billion dollar. And I believe that the final sum will be even larger," said Christine Lagarde during her speech in Washington.
Not all participants, though, are easy to come to terms with. For example, Russia, China, and Brazil have agreed to donate funds, but only in exchange for additional votes in the framework of IMF. Canada has absolutely refused to take part in the rescue of Europe, explaining that European Union has enough means to settle crisis developments.
Technically, the actions of EURUSD currency pair at FOREX market may be called moderate content with news. The pair has not yet finished the rising correctional structure h1-h4, where wave "С" continues. According to the System of Early Prediction Sub-department of Masterforex-V Trading Academy, points 1.3179 and 1.3270 are the targets of the uptrend.
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The common European currency has been under the seller’s pressure since Tuesday. The currency pair has been going down from 1.2839. The currency pair went down to 1.2613 yesterday and then recovered a little bit. At this point, this is the low of the week.
Today, on October 23rd, the bullish sentiment in the market of the US Dollar is still underway. This sentiment is backed by strong economic figures coming from the USA amid weaker figures from the EU, Japan and China – other major economies.
Amid positive stats on US inflation indicators, the US Dollar continued its way up against the common European currency. Still, the move suspended at 1.2613. This is still the low of the current week. At the same time, this is the point, the currency pair started recovering from on October 23rd. So far, the currency pair has already managed to recover up to 1.2670.
Another US corporate report season is underway. US corporations are currently reporting on their financial performance in Q3 2014. For instance, the Coca-Cola Company reported on Tuesday, October 21st, to show us disappointing quarterly financial performance. In particular, the company’s global sales remained unchanged while the proceeds came out worse than expected. This naturally made Coca Cola’s stock drop in value the same day. McDonand’s and IBM also reported poor results.
Forex has turned into a major source of stable income for thousands of professional traders worldwide. Still, this success would be impossible but for reputable and reliable Forex brokers helping their clients make big money. Such trusted companies are oriented towards client needs and desires, simultaneously striving hard to improve their offers (including trading conditions) to let everyone enjoy even more convenient and efficient trading.
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Snipers have always been known for being patient, self-controlled. They are perfect in using weapons and evaluating the situation objectively under stress. However, it turns out that such skills are valuable in other sphere of human life and activity, including Forex trading. The thing is that in order to succeed, a trader should be pretty much like a sniper. Having a winning strategy (which is like a rifle in a sniper’s hands) is not enough. You should know how to use it efficiently and be patient to wait for the right moment to take a shot and hit the target.
The AUD is quite a volatile currency. Over recent years it has fluctuated in value against the USD by as much as two thirds. However although it is volatile, the AUD/USD pair does tend to both trend and turn around quite smoothly, meaning this pair can be a real pleasure to trade. Both the USD and JPY have a large influence upon the value of AUD, and of course the currency has been highly correlated with the price of Gold.
EURUSD spent most of the trading day within the scope of the 1.2730-1.2839 range yesterday. While staying within the range, the common currency showed a little bit of weakness against its American counterpart. Over the course of yesterday’s American trading session, the common currency, the US Dollar strengthening was backed by positive employment figures coming from the US Department of Labor. At the same time, the NAR revealed strong data on the amount of secondary housing sales in the USA over the same reporting period. In particular, the sales growth improved from -1,8% up to 2,4% with a glance at seasonality. This allowed them to reach the highest value of the year at 5 170 000 housing units. The news was followed by a downswing to 1.2714.