An apparent split between France and Germany on the subject of the EFSF has been causing problems in getting a deal done to contain the sovereign debt crisis. However, eurozone leaders are now saying that the two countries are in full agreement. The euro is a bit choppy today, on all the conflicting reports. Euro was lower earlier on news of the disagreement over what should be done with the bailout facility in the eurozone. The bailout facility … “Eurozone Leaders Reconcile on Rescue Plan; Euro Choppy”
Month: October 2011
USD/CAD: Trading the Canadian Core CPI Release
The Canadian CPI, also known as inflation, measures the change in the price of goods and services charged to consumers. Core CPI excludes eight volatile components, notably food and energy. A reading that exceeds the market forecast is generally bullish for the Canadian dollar. Here are all the details, and 5 possible outcomes for USD/CAD. Published on … “USD/CAD: Trading the Canadian Core CPI Release”
Canadian Dollar Falls on Potential Disagreement About EU Bailout Fund
The Canadian dollar dropped today as the speculation that the rescue fund of the European Union won’t be boosted, making traders unwilling to buy currencies with higher potential yield, but also with higher risk. The speculation that the European leaders may expand the European Financial Stability Facility initially gave boost to commodities and growth-related currencies. But very soon talks emerged that the politicians wouldn’t agree on that matter, as it … “Canadian Dollar Falls on Potential Disagreement About EU Bailout Fund”
Aussie Gains as Forex Traders Look for Higher Yields
Today, the name of the game is risk appetite on the Forex market. Traders are looking for higher yields in their relief over a possible eurozone debt crisis deal, and the Australian dollar is heading higher as a result. Yesterday, Aussie faltered a little bit on the news that China’s growth didn’t meet expectations. Due to its reliance on China, the Australian dollar found itself sliding a bit, but China still shows growth, and that … “Aussie Gains as Forex Traders Look for Higher Yields”
US Dollar Pulls Back on Improved Risk Appetite
Once again, optimism is growing amongst Forex traders that a deal will be reached to contain sovereign debt in Europe. Even as Spain is downgraded, risk appetite is improving on the outlook for a plan to stop the spread of sovereign debt contagion. Indeed, rumors are flying that an agreement has been reached, and that means Forex traders are feeling optimistic enough to look for better yields in their currency trading … “US Dollar Pulls Back on Improved Risk Appetite”
Pound Climbs After BoE Minutes
The Great Britain pound jumped today after the Bank of England monetary policy meeting minutes were released, showing that the central bank’s policy makers voted unanimously for the quantitative easing. The members of the central bank’s Monetary Policy Committee voted unanimously to boost asset purchase by £75 billion to £275 billion. The policy makers also vote to keep the target interest rate unchanged at 0.5 percent. The minutes said: While the stimulatory monetary … “Pound Climbs After BoE Minutes”
Euro Rebounds as EU Plans Boost of Bailout Fund
The euro regained its footing today on the speculation the European policy makers will increase the rescue fund to help in battle with the debt crisis. The Guardian newspaper reported France and Germany agreed to raise European Financial Stability Facility from the current level of â¬440 billion ($607 billion) to â¬2 trillion before the European Union summit this weekend. Financial Times Deutschland wrote German Finance Minister Wolfgang Schaeuble insisted that … “Euro Rebounds as EU Plans Boost of Bailout Fund”
EUR/USD: Trading the US Unemployment Claims Oct 2011
The US Unemployment Claims indicator is published weekly, and measures the number of people filing for unemployment for the first time during the previous week. An increase in unemployment claims will hurt consumer spending, and any figures which are higher than the market forecast is bearish for the dollar. Here are all the details, and 5 possible … “EUR/USD: Trading the US Unemployment Claims Oct 2011”
xStation Launched by XTB
X-‘trade Brokers launches a new trading platform that aims to be very intuitive and easy to use. It is web-based, saving significant download times. The platform has quite a few features, including trading directly from the charts, a calendar of economic events and more. For all the details, here is the official press release: Launch … “xStation Launched by XTB”
Yen Gains, Strengthened by Europe’s Woes
Yet another downgrade of a credit rating of a European country was announced. This time Spain’s rating was cut by Moody’s Investor Service, making traders shun risk and seek for safety of the Japanese currency. Moody’s reduced Spain’s credit rating by two notches to A1 from Aa2. The outlook stayed negative. The rating agency explained that the already moderate growth outlook for the nation’s economy is further threatened by the financial instability of the Eurozone. … “Yen Gains, Strengthened by Europe’s Woes”