Economics plays a huge role in the foreign exchange market. I enjoy looking at economic trends and trying to see how it affects currencies and life in general. I will post my thoughts and observations here. I'm throwing macroeconomics, forex trading, pop culture, and everyday life into a pot and hopefully the final product are lessons that are easy for you to consume.
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Last Monday's Greek and Portuguese credit downgrades caused a sudden meltdown in the financial markets. Out of the blue, a lot of news agencies started pointing to the abrupt spike in the VIX. Wait a minute, what the VIX?!… More…
Oh my, it looks like the euro is poised for more losses in the days to come. Apparently, news broke out yesterday that credit rating agency Standard & Poor had had enough of Greece's shenanigans and decided to downgrade the country's sovereign debt rating to... wait for it... Junk!… More…
In their statement later this week, the FOMC is expected to keep interest rates at their current levels... No surprises there! Can we expect something new this time around? More hawkish comments, perhaps?… More…
With the Reserve Bank of New Zealand releasing its interest rate statement tomorrow, will the central bank join its com-doll brothers and sisters and break its commitment to keep rates steady till mid-2010? Or will it continue to lag behind and maintain its dovish stance? … More…
While the US and euro zone have been posting notable improvements in their own GDP accounts, the UK barely managed to crawl out of the recession with a mere 0.4% growth during the last leg of 2009. Would they be able to keep this up for another quarter? The upcoming preliminary GDP report should give us an idea.… More…
You're going to hate me for saying this but... I told you so! I've been raving about the strength of Canada's economy for quite some time now, and it was really just a matter of time before the BOC came out with a really hawkish interest rate outlook.… More…
At a loss why the Aussie rallied earlier today? Don't ya worry, Forex Gump's here to give you the latest scoop on what's happening with the Aussie and the RBA!… More…
Last Friday, the US SEC accused financial giant Goldman Sachs of fraud, saying that they failed to disclose that one of its security products was created by the same people who wagered that it would fail. Hah, talk about a conflict of interest!… More…
In his testimony yesterday, a downbeat Ben Bernanke highlighted the weaknesses of the economy and confirmed that interest rates will remain low for an extended period of time. Hold on just a second... Is Big Ben really talking about the US?!… More…
Let's face it. The prospect of accelerating inflation is worrisome for some, particularly for consumers. After all, who would be comfortable with rising prices of goods? But is this fear really warranted or is it just exaggerated? … More…
Extra! Extra! Read all about it! China suffered its first trade DEFICIT in six years. Gasp! All the more reason to keep the Chinese Yuan pegged to the US dollar?… More…
Zooey Mama! Just when you things couldn't get any wackier with Greece, the EURUSD opens this week almost 100 pips higher. After closing last week at 1.3496, the pair found gaped up to kick off the week on a high note at 1.3590! … More…
Over the past couple of months we've seen how the Loonie trampled over almost every other major currency in sight, most especially the US dollar. After hitting a high of 1.0781 earlier this year, the USDCAD dropped day after day after day after day... Oops, where was I? … More…
Tomorrow will mark the first time that the European Central Bank will be releasing an interest rate decision after the EU summit which discussed Greece's debt issues. Seeing that a "solution" was made during the summit, could we expect a more upbeat report? … More…
Over the weekend, an interesting new development popped up regarding the looming US-China trade war. Last Saturday, the US Treasury decided to delay its semi-annual currency report which was slated to officially label China as a "currency manipulator."… More…
The spotlight will be on Australia tomorrow as the RBA rate decision is on deck. Will the RBA continue its rate-hiking ways? … More…
What a way to kick off the month as the Non-Farm Payrolls report is coming in! Seeing how the ADP non-farm employment change released yesterday was off target, what should we expect in tomorrow's report? … More…
