foreign exchange rates today
For each event there is the time it will be announced, the event itself, the resulting number of the event, the forecasted number of the event, the number when the event was last announced and finally a grid showing the usual impact on the market on a scale of 1 to 3, with 1 being a small impact. On this particular calendar there is a green arrow which if clicked see chart below EUR/USD price chart gives a small commentary on the likely market impact before the announcement and the actual impact on the market after the announcement. As you can see from the economic calendar at midday the European Monetary Union retail sales statistics were released showing a worse than expected figure the number is in red. Both these events although important were not expected to have much effect on the EUR/USD currency pair. The EUR/USD price chart below the economic calendar shows the price behaviour of the EUR/USD before and after the announcement. After midday there was not much of a price movement although overall there was a bearish outlook and the price drifted down some 30 pips over the next couple of hours. At 3. 30pm the European Central Bank announced no change in the interest rate and kept the rate at 1% as expected, however, at the same time, Trichet the governor of the ECB gave a speech which the markets considered to be very bearish and as you can see the market reacted quite strongly and fell 140 pips. A forex trader who was not aware of what Trichet was saying and was holding a long Euro position against the dollar at the time of the speech, would have found himself in deep trouble. I am sure you’re asking yourselves, ‘he has advised me not to trade off the economic calendar so what should I use the economic calendar for?’ Well use it as a help to manage your trade. Check the economic calendar each morning, there are numerous ones online, and decide whether it will cause low or high volatility.
currency exchanger
A number of the foreign exchange brokers operate from the UK under Financial Services Authority regulations where foreign exchange trading using margin is part of the wider over the counter derivatives trading industry that includes contracts for difference and financial spread betting.
global exchange rates
The only time I break this rule is if a stock is moving with a lot of momentum and strength.
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foreign exchange rates today