The US dollar weakened today as the signs that the global economic recovery gains momentum caused investors favor riskier assets over safer ones, reducing appeal of the US currency. The Markit Eurozone Manufacturing PMI rose to 57.3 in January, the highest level in 9 months, the growth being led by Germany and Australia. The index was expected to remain at the previous level of 56.9. The Standard & Poorâs 500 Index rose 1.7 percent, the Stoxx … “Global Economic Recovery Reduces Demand for US Dollar”
Month: February 2011
Brazilian Real Goes Up with Rising Inflation
The Brazilian real edged up today as the index of consumer prices rose more than the analysts expected, increasing probability of an interest rate hike by the central bank. The IPC-S index (the weekly index of consumer prices) of the Getulio Vargas Foundation rose 1.27 percent as of January 31, 2011, while the analysts at Bloomberg predicted an increase by 1.22 percent. The last week’s change rate was the biggest in about a year. USD/BRL slipped from 1.6680 to 1.6660 … “Brazilian Real Goes Up with Rising Inflation”
Hosni Mubarak Left Egypt?
Rumor says that Egyptian president Hosni Mubarak fled the country. This is only a rumor, but it’s echoed in many places. According to some birds on Twitter, Mubarak is in Bahrain flying away with his private jet. US Ambassador met El Baradei today. Rumour Mubarak gone to Bahrain. Still not confirmed. #jan25 #c4news #feb01 The … “Hosni Mubarak Left Egypt?”
How Can Forex Brokers Use Social Media to Attract New
Social media reaches a target audience more effectively than traditional sources, such as newspaper advertisements. The Forex industry has been paying attention and is increasingly gaining exposure via social media. Unfortunately, some Forex traders use social media to deliver spam. If used properly, the Forex industry can use social media to enhance its reputation with … “How Can Forex Brokers Use Social Media to Attract New”
FXCM Forex Execution Center Launched
US broker FXCM announces the launch of their forex execution center. The new mini-site doesn’t show statistics regarding execution, but is just intended to showcase the difference between execution methods – between no dealing desk (NDD) or ECN, and the more common market makers. I hope they will add execution figures. This imitative is similar to Gain’s … “FXCM Forex Execution Center Launched”
Aussie Reaches Parity with Greenback as RBA Holds Interest Rates
The Australian dollar climbed to parity with its US counterpart today as the global economy recovers, commodity prices advance and private investment in the nation increases, reducing the incentives for an interest rates cut. The Reserve Bank of Australia kept its cash rate at 4.75 percent, continuing to attract speculators interested in so-called carry trades. The Bank’s Governor Glenn Stevens indicated that the global production strongly grew last year and said that the inflation … “Aussie Reaches Parity with Greenback as RBA Holds Interest Rates”
Egyptian Opposition to Declare Liberated Zone
There are unconfirmed reports that Egyptian opposition forces are about to take over one of the cities in the Egyptian Delta and to declare it as a liberated land with a free new government. Opposition factors are aided by former army generals and security such as the Mukhabarat. As the current regime is reluctant to … “Egyptian Opposition to Declare Liberated Zone”
FOREX.com Execution Time – 0.08 Seconds
Forex broker Gain Capital, owner of forex.com, released interesting execution data. Average execution time is 0.08 seconds, and 99.7% or all trades are performed within one second. Michael Greenberg reports about these interesting figures, and mentions that the publication could be related to the fact that Gain Capital was fined by the NFA for manipulations … “FOREX.com Execution Time – 0.08 Seconds”
Pound Rallies on Anticipation of Interest Rates Hike
The Great Pound posted an impressive advance for the second day today as more and more policy makers are starting talking about necessity of the interest rates increase to suppress the accelerating inflation. Martin Weale, the policy maker at the Bank of England, said that there is a “powerful case” for a “modest rise” in the interest rates. The inflation in the UK accelerated to 3.7 percent in December, significantly exceeding the central bank’s target of 2 percent. The central bank’s Governor … “Pound Rallies on Anticipation of Interest Rates Hike”