May 2016 ~ Forex Trading Tips

UnknownMay 13, 2016Domestic Forex Intraday, Domestic Forex Positional, Forex Trading Tips, Pound To Rupee No comments

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Indian rupee depreciates against US dollar - 13 May 2016

The Indian rupee depreciated by 0.03 paise to Rs 66.9000 against the US dollar on Wednesday as a result of increased demand for the greenback from importers in the midst of appreciation in the American currency overseas. Further, a lower opening at the domestic equity market also weakened sentiment of the local unit. Further, rupee depreciated due to revision of a 33-year-old tax treaty between India and Mauritius that can potentially impact foreign institutional investments routed through the tax haven.

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UnknownMay 05, 2016Domestic Forex Intraday, Domestic Forex Positional No comments

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Dollars Demise Dismissed For Now - 5 May 2016

Few things the markets are talking about.

Trading yesterday was not for the faint of heart. Global markets were shaken by continued weak growth readings in China and Europe coupled with the Reserve Bank of Australia (RBA) surprise decision to lower rates.

The various asset price moves were complemented by a significant reversal to the ‘mighty’ buck.

As we head to the open stateside, the mood is somewhat subdued, but investors concerns are the same as the market gears itself up for the granddaddy of all economic indicators, Friday’s non-farm payroll (NFP).

1. Dollars dominates proceedings

It seems that the dollar ‘bear’ can never afford to get too comfortable for too long. The recent pressure applied to the world’s reserve currency has been slow and persistent. A reversal in dollar positioning tends to quick, painful and unabated. Despite the above-mentioned reasons why the dollars rise, this week’s turn can also be attributed to further Fed talk.

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USD/JPY trades up +0.2% at 106.86, well above its 18-month low print yesterday (¥105.55). EUR/USD is down -0.1% at $1.1481, off an eight-month peak above $1.16 on Tuesday, while GBP/USD trades down -0.4% at $1.4490 after having hit a peak around $1.4771.

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UnknownMay 03, 2016Domestic Forex Intraday No comments

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The US just dropped the hammer on currency manipulation - 3 May 2016

The U.S. government is sending a message to countries it believes are manipulating their currencies.

A Treasury report targets five countries in particular: China, Japan, Korea, Taiwan and Germany. Each meets at least two of the three criteria that "determine whether an economy may be pursuing foreign exchange policies that could give it an unfair competitive advantage against the United States."

At a time when currency devaluation has become a major tool used by multiple countries to stimulate growth, the U.S. is looking to protect its own interests. The report is an outgrowth of the Trade Facilitation and Trade Enforcement Act of 2015, a bipartisan effort aimed at stemming the global race to the bottom.

The criteria to determine whether a country should be on the "Monitoring List" of countries using unfair currency practices are: a trade surplus of larger than $20 billion, or 0.1 percent of U.S. GDP; a trade surplus with the U.S. that is more than 3 percent of that country's GDP; "persistent one-sided intervention," defined as purchases of foreign currency amounting to more than 2 percent of the country's GDP in a one-year period.

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