Tags : Currency

Head of Sanlam UK: ‘It is not truly a currency

Mark Ward, head of trading at Sanlam UK, said: “What a Bitcoin (and its rivals) is, can be thought of just as virtual money, used to buy and sell items, as you would in a shop with a five pound note – they are simply a means of exchange – it allows barter to occur […]Read More

Bitcoin joins OANDA’s Currency Converter

Emerging as a new online currency and a most suitable option for trading, Bitcoin is an anonymous, peer-to-peer, electronic payments system, and it is important to see it in a currency converter. Created in 2009, the Bitcoin network was originally intended to offer a means of payment through a peer-to-peer version of electronic cash. The […]Read More

EUR/USD Stabilizes at 1.12 Following US Data Deluge

The EUR/USD stabilizes to an intraday high of 1.1249 before falling sharply back toward the 1.12 handle. The pair was stabilized around 1.1208, advancing 0.1 percent. The EUR/USD faces initial support at 1.1127. A break below that level would lead to 1.1057. On the upside, resistance is ascending from 1.1324. In economic data, German inflation […]Read More

EUR/USD Little Changed as Goldman Sachs Lowers Forecast

The euro posted modest gains against the US dollar on Wednesday, although upside was limited after international investment bank Goldman Sachs lowered the common currency’s near-term forecast. The EUR/USD advanced 0.15 percent to 1.1360, stopping well short of the 1.14 level. The pair faces near-term support at 1.1301 and resistance at 1.1372. The EUR/USD has […]Read More

EUR/GBP at 7-Year Lows Ahead of Carney, Draghi Remarks

The EUR/GBP sunk to fresh seven-year lows on Tuesday, as the beleaguered euro continued to struggle amid ongoing talks between Greece and its EU paymasters about Athens’ proposed four-month loan extension. The EUR/GBP hit 0.7316 in Tuesday’s European session, a new seven-year low. The pair rebounded slightly in Wednesday’s Asian session and was trading at […]Read More

EUR/USD Weekly Outlook

The euro was trading cautiously on Monday, following a week of uncertainty that ended with Greece securing a short-term loan extension in exchange for further oversight from its creditors and other reforms that squashed Athens’ “anti-austerity” pledge. The attention this week shifts back to the economic data, although the threat of an eventual Greek exit […]Read More

Canadian Dollar Retreats on Declining Energy Prices

The Canadian dollar declined against its US counterpart on Wednesday, as tumbling energy prices outweighed stronger than forecast growth in Canadian wholesale sales. The loonie tumbled to 0.8036 US after climbing to a daily high of 0.8089 US on Tuesday. The USDCAD exchange rate advanced 0.6 percent to 1.2445 and is testing initial resistance at […]Read More

EUR/USD Loses 1.14 Handle as Eurogroup Talks Yield No Results

The euro declined against its US counterpart Monday after Greek and Eurozone finance ministers were unable to reach an agreement about Greece’s bailout program, fuelling concerns the Hellenic republic was edging closer to exiting the currency zone. The EUR/USD tumbled nearly 80 pips to an intraday low of 1.1319. It would subsequently consolidate at 1.1342, […]Read More

EUR/USD Edges Higher Amid Greek Bailout Talks, Disappointing US Data

The EUR/USD advanced for a second consecutive day on Friday as Greece resumed talks with its Troika of creditors, while the US dollar continued to retreat following disappointing retail sales data. The EUR/USD climbed 0.12 percent to 1.1413, easing off an earlier high of 1.1445. The pair is pacing toward a weekly gain of 0.75 […]Read More

Australian Dollar Loses Traction Ahead of Employment Figures

The Australian dollar declined against its US counterpart Wednesday despite stronger than forecast consumer confidence and home loans figures, as the markets shifted their attention to Thursday’s employment report. The Aussie fell back toward 77 cents US on Wednesday after attempting a re-test of the 78-cent level in the overnight session. The AUD/USD consolidated at […]Read More

USD/CAD Loses NFP-Inspired Rally amid Higher Energy Prices

The North American currency pair back was on its heels Monday, as rebounding energy prices and better than expected Canadian housing starts supported the Canadian dollar. The USD/CAD declined more than half a percent to 1.2454. Initial support is likely found at 1.2417 and resistance at 1.2589. The pair rebounded on Friday after the United […]Read More

EUR/USD Holds Ground as Political Tensions Escalate

The euro was little changed against the US dollar on Monday, trading above 1.13 cents US ahead of the European Union meetings in Brussels. The meetings, which will be held on Wednesday, will be attended by newly appointed Greek Prime Minister Alexis Tspiras and German Chancellor Angela Merkel. The EUR/USD climbed 0.06 percent to 1.1326. […]Read More

How Do Central Banks Affect Exchange Rates

We all know that central bank decisions are some of the most influential occurrences on the forex markets, but how do the actual mechanics work? When the Bank of Japan lowers interest rates, the SNB stops buying Euros, or the ECB starts buying bonds, what’s going on? Here we’re going to have a look at […]Read More

Canadian dollar rebounds sharply as oil prices rise

The Canadian dollar advanced on Monday as oil prices continued to rally, while US consumer spending declined at the sharpest rate since 2009 and manufacturing activity softened. The loonie, as the Canadian dollar is known, rose 0.8 percent to 0.7941 US, erasing Friday’s losses. The USD/CAD exchange rate tumbled more than 100 pips to 1.2590. […]Read More

6 Central Banks That Rule Forex

The role of central banks in deciding exchange rate levels cannot be overestimated. If you want to trade currencies you need to understand what a central bank is, and how it controls exchange rates. The actions of these institutions drives the day to-day fluctuations in the forex markets, but who are they, and how do […]Read More

USD/CAD Weekly Outlook

The USD/CAD advanced for a tenth consecutive week last week, climbing to a nearly six-year high of 1.2794. The pair gained more than 9.5 percent in January, as the Canadian dollar continued to struggle with plunging oil prices and a shaky domestic recovery. The USD/CAD was trading at 1.2700 in Monday’s early Asian session, as […]Read More

Global Currency Forecast for 2015

The Global Currency Forecast 2015 by Scandinavian Capital Markets (SCM). The outlook for the EURUSD in 2014 was for the prices to move within a 1.2753-1.4225 zone with a downside break of 1.2753 favoring further price decline to 1.2319 followed by 1.2185, and 1.2050. The range for EURUSD in 2014 was 1.2096-1.3992 and the pair closed […]Read More

Satoshi Nakamoto and the Inception of Bitcoins Part 1

Innovation and inventions has been a driver for advancement in technology from the early days. The world remembers the people who make a breakthrough in any field that could prove to be helpful for the whole society. History is filled with inventors who have dedicated their entire life to a goal that they are able […]Read More