A budget vote in Italy has markets waiting for what’s next — and expecting something positive. As a result of this cautious optimism, the US dollar is lower in Forex trading. With support for Italian PM Silvio Berlusconi all but gone (even from allies), it is little surprise that the markets are expecting something reasonably positive. For now, US dollar is lower, dropping as equities in Europe advance, and as US … “US Dollar Lower as Markets Await Italy Vote”
Month: November 2011
Evolution of the Forex Market
It’s no secret that the forex market has evolved rapidly in the past few years. The financial crash of 2008 opened the door for many traders and investors into currency markets. Saxo Bank visualizes this growth with a nice infographic and a video. The numbers provided here show the huge growth, which continues. The recent … “Evolution of the Forex Market”
Euro Under Pressure on Berlusconi Vote
The euro fluctuated today as the mounting pressure for Italian Prime Minister Silvio Berlusconi added Italy to the list of countries investors should be worried about. In fact, Italy was on that list, together with Portugal, Ireland, Spain and Greece, and traders were just reminded that the problems of the European Union aren’t limited only to Greece. Today’s vote should demonstrate whether Italian leader has enough support to stay in power. Meanwhile, … “Euro Under Pressure on Berlusconi Vote”
Pound Rises Ahead of Vote in Italy
The Great Britain pound strengthened today after the manufacturing production expanded, while the concerns about the situation in the European Union increased demand for the currency as a safe haven. Today Italian Prime Minister Silvio Berlusconi faces a parliamentary vote that will decide whether he’ll remain in his seat. The unpredictable outcome of the vote makes traders seek a refuge to safely wait and see how the situation will develop. UK manufacturing advanced 0.2 … “Pound Rises Ahead of Vote in Italy”
Goldman Sachs to Go Under – Roubini
Dr. Nouriel Roubini, also known as “Dr. Doom” for foreseeing the financial crash of 2008, said the Goldman Sachs may be the next financial entity to collapse. Roubini says that more financial firms could follow the lead of MF Global and names a few more candidates: Morgan Stanley, Jefferies and Barclays. Leverage is still a … “Goldman Sachs to Go Under – Roubini”
Saxo Bank Chief Economist: EUR/USD to Slide to 1.10-1.15
Steen Jakobsen, chief economist for Saxo Bank sees 4 big advantages for the US dollar in the foreseeable future. Together with the raging European debt crisis, he predicts that EUR/USD will take a major hit and will eventually slide from the current range to much lower ground: 1.10 to 1.15 by the end of 2012. The euro … “Saxo Bank Chief Economist: EUR/USD to Slide to 1.10-1.15”
Leverate Opens Two Datacenters in London
Leverate, a software provider for the forex industry, invested more than $500,000 in two new datacenters in the City of London. All the company’s services are planned to migrate to these datacenters by the end of the year. This investment aims to improve performance and execution. This is another move forward by the software provide, … “Leverate Opens Two Datacenters in London”
AUD Falls on European Concerns & Unfavorable Australian Fundamentals
The Australian dollar declined today, extending its yesterday’s drop against the greenback and the yen as the concerns about the crisis in Europe and the negative fundamental reports from Australia decrease attractiveness of the currency. The news about the change of the leadership in Greece and the rumors about the Italy may also change its leader caused mixed feeling among investors. On one hand, new leaders may find a new approach for dealing with the financial problems of their nations. … “AUD Falls on European Concerns & Unfavorable Australian Fundamentals”
CAD Gains as Crude Advances After Rally of Stocks
The Canadian dollar rallied as the gains of stocks triggered a rally of crude oil. The currency weakened a bit at the start of today’s trading, but does a good job of holding its gains so far. Crude oil rose 1.6 percent to $95.96 per barrel in New York trading and reached $96.11 — the highest level since August 1. Performance of crude has a great impact on Canada’s economy and currency as oil is the main nation’s … “CAD Gains as Crude Advances After Rally of Stocks”
Japanese Yen Gains in Forex Trading
Last week, Japanese leaders intervened in an effort to help keep the yen weak. However, the maneuver didn’t go off as well as expected, thanks to demand for Japanese assets from China. And, today, yen is strengthening again as a safe haven. Indeed, yen is gaining against most major currencies right now, heading higher against other currencies, especially those in Europe, as concerns about stability in the eurozone continue. Even … “Japanese Yen Gains in Forex Trading”