Canadian Dollar Slammed on Falling Oil and Weaker Data (Midday Snapshot).MIDDAY SNAPSHOT Price action on Tuesday has been more than favorable to our positions with Kiwi kiwi (kē`wē) or apteryx (ăp`tərĭks), common name for the smallest member of an order of primitive flightless birds related to the ostrich, the emu, and the cassowary. and Cad standing out as the weakest currencies on the day. We had been long Usd/Cad from 1.0660 and exited this morning, and also managed to book some profits on our long Eur/Nzd position from 2.0980. The driving force behind the relative weakness has been attributed to the massive reduction in risk, plummeting oil prices below $70 and discouraging data out from Canada in the form of weaker housing starts. On the other side, the Yen has outperformed, benefitting from similar themes, with liquidation The collection of assets belonging to a debtor to be applied to the discharge of his or her outstanding debts. A type of proceeding pursuant to federal Bankruptcy on the Yen crosses and a material equity pullback Pullback A falling back of a price from its peak. This type of price movement might be seen as a brief reversal of the prevailing upward trend, signaling a slight pause in upward momentum. fueling the price action. US data was very mixed with productivity and consumer optimism beating forecasts, while unit labor costs and wholesale inventories disappointed. P&L Update and Overview: Many of you have been asking for a way to better track trading results and open positions. In response to these requests and in an effort to be fully transparent, a simulated portfolio was been created in June to track and mirror all recommendations and trades. Below is a return on equity curve since inception on June 1, 2009, along with an open and closed position tracker. I am hopeful that this will make things easier for you all. Additionally, please feel free to check out a full profit and loss statement since inception on June 1, 2009. Written by Joel Kruger, Technical Currency Strategist strat·e·gist n. One who is skilled in strategy. Noun 1. strategist - an expert in strategy (especially in warfare) strategian market strategist - someone skilled in planning marketing campaigns for DailyFX.com If you wish to receive Joel's reports in a more timely fashion, e-mail jskruger@fxcm.com and you will be added to the "distribution" list. Joel Kruger publishes 6 daily pieces: "Tech Talk" - A Daily Video Highlighting Technical Developments in the Overnight Session of Trade. Monday-Friday (between 5:30am-6:30am EST EST electroshock therapy. EST abbr. electroshock therapy ) "Morning Slices" - Morning Overview using Fundamental, Technical, Flow, and Quantitative Analysis Quantitative Analysis A security analysis that uses financial information derived from company annual reports and income statements to evaluate an investment decision. Notes: (Includes "Trade of the Day"). Monday-Friday (between 6:30am-7:30am EST) "Indicator of the Day" - A Feature Report that Highlights our Most Significant Technical Indicator technical indicator A variable used when technically analyzing the market to determine when to invest and which stocks to select. Technical indicators include chart formations, volume, and odd-lot sales. of the Day. Monday-Friday (between 8:00am-9:00am EST) "Midday Snapshot" - A Midday Fundamental Update, along with Technical Analysis of Selected Rates. Monday-Friday (between 10:30am-11:30am EST) "Scandi Daily" - A Specialized Daily Fundamental and Technical Overview of the Nordic Currencies. (This report is only distributed through email. Please contact Nordic@fxcm.com if you would like to be added to distribution.) Monday-Friday (between 11:30am-12:30pm EST) "Daily Classical" - A Daily Technical Overview of the Major Currencies. Monday-Friday (published between 2:00pm-3:00pm EST) Visit the DailyFX Forex Forex See: Foreign exchange Stream for Real-Time News and Market Updates 2009 Al Bawaba (Albawaba.com) Provided by Syndigate.info an Albawaba.com company |
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