The German Ifo Business Climate is a monthly composite index of about 7,000 businesses which are asked to rate current business conditions and their expectations over the next six months. This makes it a leading indicator of economic health and a major market mover for EUR/USD. A reading that is higher than forecast is bullish for … “EUR/USD:Trading the German Ifo Business Climate”
Month: December 2011
Loonie Still Feels Disappointment from EU Summit
The summit of the European Union nations last week set the mood for this week and it wasn’t the optimistic one. The Canadian dollar felt the weight of the negative sentiment, but the week wasn’t altogether bad for Canada’s currency. The outcome of the summit disappointed market participants. The United Kingdom walked away from the discussions, the agreements are looking too far away in the future without addressing the immediate concerns, the plans should be ratified by all the countries … “Loonie Still Feels Disappointment from EU Summit”
Loonie Drops as Fitch Spoils Market Sentiment
The Canadian dollar closed below the opening level today as Fitch Ratings came in and knocked down the positive market sentiment by signaling that France’s top credit ranking may be in danger. Fitch maintained top AAA sovereign rating of France, but changed the outlook from stable to negative. The rating agency explained its reasoning: The Negative Outlook is prompted by the heightened risk of contingent liabilities to the French state arising from the worsening … “Loonie Drops as Fitch Spoils Market Sentiment”
US Dollar Mostly Lower in Forex Trading
It looks to be a relatively quiet day in forex trading. Even so, the US dollar is mostly lower in forex trading today — although it isn’t much changed against other major currencies. Conflicting data has confused the situation a bit. On the one hand, there is optimism that the US economy is finally ready to pick things up. Recent labor market data was encouraging, and other … “US Dollar Mostly Lower in Forex Trading”
Euro Edges Higher in Forex Trading
Euro is edging higher today, holding on to some of its overnight gains, as things slow down in the financial markets ahead of Christmas week. Even though Christmas is still more than a week away, things are already slowing down in a lot of markets. Euro, though, is holding on to earlier gains as Forex traders and other investors ignore the debt issues plaguing the eurozone, and as they shrug off less than stellar … “Euro Edges Higher in Forex Trading”
Indonesian Rupiah Rises with Other Asian Currencies on Positive Sentiment
The Asian currencies, including the Indonesian rupiah, rose today as the market sentiment was positive after yesterday’s good news from Europe and the United States. The currency was further boosted as Fitch Ratings improved Indonesia’s credit grade. The positive economic data from the USA, particularly the falling jobless claims, returned the positive sentiment and it persisted on the Forex market through today’s session. The MSCI Asia-Pacific Index of stocks rose 0.8 percent … “Indonesian Rupiah Rises with Other Asian Currencies on Positive Sentiment”
Rupee Rebounds from Record Low
The Indian rupee gained today, following yesterday’s drop to the all-time low, as the nation’s central bank stepped in, announcing measures to curb the volatility on the foreign-exchange market. The Reserve Bank of India announced that no company, be it domestic or foreign, may use multiple forward contracts for a single overseas transaction. The central bank also said that it’ll reduce the amount of open positions traders are allowed to maintain overnight. The new … “Rupee Rebounds from Record Low”
FXCM Saw More Tradeable Accounts, Higher Retail Volume, Lower
US forex broker FXCM released its trading metrics for the month of November 2011. This includes separate figures for retail and institutional clients. The number of retail tradeable accounts continued rising and reached 192,772. Also trading volume among retail customers continued rising and reached $345 billion. Regarding institutional trading, the broker saw a drop in … “FXCM Saw More Tradeable Accounts, Higher Retail Volume, Lower”
CPattern Delivers Guardian Angel to Leverage Clients
CPattern, which develops a trading analytics platform based on models of behavioral science, has partnered with Leverate, a provider of forex broker solutions. CPattern will provide its Guardian Angel product to Private Label clients. Traders using Leverate’s platform with this addition by CPattern, will get guidance regarding their trades and this aims to make them … “CPattern Delivers Guardian Angel to Leverage Clients”
Aussie Feels Good as Stream of Bad News Pauses
The Australian dollar advanced today as the good news from Europe and the positive macroeconomic data from the United States helped to brighten mood of traders, who felt tired from the constant stream of bad news. The fundamental indicators showed that the US economy continues to recover and that was good for the Australian dollar. The news from Europe was good as the Spanish bond auction was much better than anticipated and that wasn’t bad … “Aussie Feels Good as Stream of Bad News Pauses”