US broker FXCM has announced the results for Q1. Among the highlights are a rise of 23% in revenues in comparison with Q1 2010, double customer equity, a rise of 15% in customer accounts and more. Good news for FXCM and for the indsutry. As a public company, FXCM is obliged to publish financial data. … “FXCM Enjoys Strong Growth”
Month: May 2011
EUR/USD Remians Under Bear Pressure
Euro/Dollar – Risk of further weakness continues to build up following a second week of losses the past week. Its continued weakness is coming on the heels of a loss of upside momentum at the 1.4938 level in early May’2011. Guest post by www.fxtechstrategy.com On further weakness, EUR will target the 1.4061 level, its April 01’2011 … “EUR/USD Remians Under Bear Pressure”
GBPJPY: Vulnerable To The Downside Into The New Week.
GBP/JPY– The cross continues to face downside weakness following through on the back of previous week losses and increasing the risk of further declines. This development now leaves GBPJPY targeting the 130.19 level, its Mar 23’2011 low where break will open the door for further weakness towards the 129.15 level, its .618 Fib Ret (122.40-139.99 … “GBPJPY: Vulnerable To The Downside Into The New Week.”
Euro at Six-Week Low vs. Dollar
The euro slumped during this week, falling to the lowest level in six weeks against the US dollar, as Greece and its debt returned to the forefront of news and discussions, making speculators unwilling to invest in the shared European currency. The theme of the Greek debt is again in newswires, worsening market sentiment and making investors stick to safer currencies, and the euro suffered because of it. The currency attempted to slow its drop on Tuesday and Thursday on anticipation of an interest rates … “Euro at Six-Week Low vs. Dollar”
Dollar Goes Higher as Stocks Falls Down on European Debt
The US dollar gained today against all most-traded currencies, except the yen, as equities declined because of the persisting concern about the European credit crisis. Die Welt claimed that Germany insisted on restructuring of Greece’s debt. Spokesman Christoph Steegmans said in an interview that the German government has “no knowledge” about about the plans for restructuring of the Greek debt. The Standard & Poorâs 500 Index of stocks slipped 0.8 percent. The Thomson … “Dollar Goes Higher as Stocks Falls Down on European Debt”
Canadian Dollar Falls with Crude & Stocks
The Canadian dollar fell today, sliding for the third day versus the US dollar and the Japanese yen, as crude oil fell together with North American equities. June contract for crude oil delivery subtracted 0.3 percent to $97.95 per barrel in New York, following the previous advance by 1.8 percent. Prices have increased 1.5 percent this week, but this increase looks meager compared to the decline by 15 percent last … “Canadian Dollar Falls with Crude & Stocks”
GBPUSD: Further Weakness Envisaged
GBPUSD: With continued downside weakness seen, the possibility of further weakness is expected. The risk is for GBP to weaken further towards the 1.6164 level, its April 18’2011 low and then its psycho level at 1.6000. A halt is expected at that level to turn the pair back up. Its daily RSI is bearish and pointing … “GBPUSD: Further Weakness Envisaged”
Euro Recovers as German & French GDP Surge
The euro rebounded versus the US dollar today after the reports showed that the growth of the German and French economies sharply accelerated in the first quarter. France’s GDP rose 1.0 percent in the first quarter of 2011, compared to the forecast of 0.6 percent. Germany’s GDP surged 1.5 percent in Q1 of this year, while analysts counted on growth by 0.9 percent. It’s good to see that Europe’s bigger economies performs better, but such … “Euro Recovers as German & French GDP Surge”
Yen Gains as Demand for Safety Surges After Pakistan Bombing
The Japanese yen jumped today after bombers killed at least 73 people in Pakistan, supposedly in response to the death of Osama bin Laden. Ghufran Ali, a police official in Charsadda, reported that 15 buses carrying the newly graduated members of Pakistanâs Frontier Constabulary, a paramilitary force, who were going home after a May 11 ceremony was targeted by the bombing. The Tehreek-e-Taliban group announced that this attack was the first act … “Yen Gains as Demand for Safety Surges After Pakistan Bombing”
Dollar Looks Down as Commodities Strive Up
The US dollar weakened today against the euro as rally of stocks and commodities make investors less enamored of safer assets. The Japanese yen also suffered from falling demand for safety, allowing the greenback to hold its ground against this currency. The Standard & Poorâs 500 Index gained 0.5 percent. The Thomson Reuters/Jefferies CRB Index of raw materials went up 0.1 percent to 340.01. June contract for crude oil delivery … “Dollar Looks Down as Commodities Strive Up”