Michael Greenberg reports that Gain Capital, the holder of the very lucrative forex.com domain, values itself at $535 post money. There isn’t a date set for this initial public offering. Greenberg notes that Gain’s IPO is very dependent on a bigger offering in the industry – FXCM IPO, which should happen soon, even on Friday, … “Forex.com IPO – Valued at $535 Million”
Month: November 2010
Less Forex Scams?
Andriy checked out Google Trends to see how the term forex is doing, and sees that continues to enjoy a steady rise. He also checked out other related phrases and found that “forex scam” is declining since the beginning of the year, after reaching a peak. Are there less forex scams? Andriy doubts that and … “Less Forex Scams?”
FXStat Review – Risk of Ruin and more
AshFX reviews social forex site FXStat and sees the strong resemblance to another forex online site – MyFXBook. In his interesting review, he discusses their new and interesting features such as the verification of the trading source – is it a demo account or a real account – this is very important, as we all know … “FXStat Review – Risk of Ruin and more”
Pound Strengthens vs. Franc on King’s Statement
The Great Britain pound rose today against the Swiss franc as the optimistic statement of the central bank’s governor Mervyn King improved the confidence in Britain’s currency. Against other currencies the pound was rather flat as the markets traded slower than usual today because of the Thanksgiving holiday in the US. The Bank of England Governor Mervyn King said in his statement to the Treasury Select Committee of the House of Commons this morning: Together with policymakers overseas, … “Pound Strengthens vs. Franc on King’s Statement”
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[Video] Long Euro, Currency Wars, Gold Heights and More
Long Euro? Well, yes. In an interview on Forex TV, Derek Frey discusses the alleviated fear about the Irish crisis, but reminds us that none of the debt laden countries is going to sink into the sea. Speaking with Julie Sinha, the “senior market manipulator” also covers currency wars and lots more. In a previous … “[Video] Long Euro, Currency Wars, Gold Heights and More”
Spanish 10 Year Yield Jumps
Another day, another new record for Spanish 10 year yields – 5.15% at the time of writing, already higher than the peak at the height of the Greek crisis. This reflects fear that Spain may be unable to pay its debt, as contagion spreads. Yesterday, a bond auction by Iberdrola, a big Spanish power company … “Spanish 10 Year Yield Jumps”
North Korea Threatens To Attack – South Korea Reinforces
While there’s quiet on the Korean front, tension remains very high. South Korea will add troops on the 5 islands west of the peninsula that border North Korea, including Yeonpyeong that was the scene of the incident on Tuesday. The South Koreans will allocate a big budget for this. And the North Koreans don’t remain … “North Korea Threatens To Attack – South Korea Reinforces”
Euro Slips on Strikes in Portugal & Ireland
The euro slipped today as the workers in Portugal and Ireland are planning to go on strike to protest about the planned austerity measures, curbing the appeal of the shared 16-nation European currency. Portugal’s government announced in September that it’s planning to cut the wage bill by 5 percent for the public workers earning more than â¬1,500 ($2,000) a month, freeze the hiring and raise value-added taxes by 20 basis points to 23 percent in order to reduce the budget deficit. … “Euro Slips on Strikes in Portugal & Ireland”
Canadian Dollar Surges as Risk Aversion Turns to Risk Appetite
The Canadian dollar surged today, erasing losses against its US counterpart, as the signs of the economic recovery outweighed the risk aversion sentiment, spurring the loonie. The Canadian consumer prices rose 0.7 percent in October, on the seasonally adjusted monthly basis, the largest increase since January 2006. This follows the 0.3 percent increase in September. The retail sales in Canada increased for the fourth consecutive month, rising 0.6 percent in September. The retail sales in the volume … “Canadian Dollar Surges as Risk Aversion Turns to Risk Appetite”
Fundamental Overview Market Movers Last Week 11/22/2010
The U.S. Dollar continued trading higher against most of the major currencies last week, with the exception of the New Zealand Dollar which gained a rather modest+0.6 percent against the Greenback. The previous week’s rumors of an impending default of Irish banks materialized to some extent last week as the Irish financial crisis remained the … “Fundamental Overview Market Movers Last Week 11/22/2010”