US forex broker FXCM saw a rise in retail trading volume and tradeable accounts in January 2012, in comparison to both December 2011 and January 201. Also institutional trading at FXCM was on the rise during this month, with an especially strong growth in the number of institutional trades per day. The only metric that … “FXCM Sees Continued Trading Growth in January 2012”
Month: February 2012
Norway Krone Gains, Central Bank Ready for Intervention?
The Norway krone fell today as Norway’s central bank and government were concerned about an impact of the strong currency on the nation’s economy. The currency has reached the eight-year record in September, prompting the Norges Bank to announce that it’s ready to step in and weaken the krone. Such statement, as well as the interest rate cut in December, managed to make the currency depreciate. Since then, though, the krone returned part of its strength and again threatens the Norway economy. … “Norway Krone Gains, Central Bank Ready for Intervention?”
Yen Sinks as Bank of Japan Expands Asset Purchases
The Japanese yen slumped to the lowest level since November against the US dollar and also fell against some other majors after the Bank of Japan unexpectedly increased its asset purchase program. The Bank of Japan unexpectedly expanded its asset purchase program by 10 trillion yen and set its inflation target to 1 percent. That’s just another attempt by the central bank to counter a deflation and support the nation’s economy. Earlier the yen … “Yen Sinks as Bank of Japan Expands Asset Purchases”
Loonie Pares Some of Its Losses Against the Greenback
Canadian dollar dropped earlier in trading as the news about US retail data caused a general pull back for riskier currencies. Since the United States is a major trading partner, the news about retail sales was a bit of a blow for the loonie. However, some of the losses have been pared as oil prices top $101 a barrel and as the ZEW shows hope for the eurozone economy. Loonie is struggling back up toward parity with … “Loonie Pares Some of Its Losses Against the Greenback”
US Dollar Gains as Uncertainty Sets In
A bit of uncertainty has appeared in the financial markets, and that is helping the US dollar gain today against other currencies. Even though the spread between the three-month dollar Libor and overnight index swaps narrowed, there are still indications of stress in the markets. Uncertainty about the eurozone remains, and concerns about US retail sales are weighing on high beta currencies. US dollar is higher as Forex traders look for a little … “US Dollar Gains as Uncertainty Sets In”
GBP/USD Falls as CPI Slows, Moody’s Says Outlook is Negative
The Great Britain pound fell against the US dollar, though held versus the Japanese yen, after inflation slowed last month and Moody’s said that the nation’s credit rating is in danger of downgrade. Britain’s annual inflation was 3.6 percent in January, matching forecasts, while it was 4.2 percent in the previous month. Moody’s Investor Service left the UK lending grade unchanged yesterday, but changed outlook to negative. … “GBP/USD Falls as CPI Slows, Moody’s Says Outlook is Negative”
Euro Rebound After Italy Sells Debt
The euro rebounded today after Italy sold maximum amount of its bonds on todayâs auction, easing worries about the credit crisis in the European Union that reemerged after Moody’s cut credit ratings of several European countries. Italy sold â¬4 billion of securities that mature in 2014, reaching its target. Yield dropped from 4.83 percent on the previous auction to 3.41 percent. The euro was supported by the positive outcome of the auction, … “Euro Rebound After Italy Sells Debt”
EUR/USD: Trading the Eurozone GDP
The Gross Domestic Product (GDP) indicator is a measurement of the production and growth of the economy. Analysts consider GDP one the most important indicators of economic activity. A reading which is better than the market forecast is bullish for the euro. Here are all the details, and 5 possible outcomes for EUR/USD. Published on Wednesday … “EUR/USD: Trading the Eurozone GDP”
GBP/USD: Trading the British CPI Feb 2012
The British CPI (Consumer Price Index), released monthly, measures the change in the price of goods and services charged to consumers. A reading which is higher than the market is bullish for the pound. Here are all the details, and 5 possible outcomes for GBP/USD. Published on Tuesday at 9:30 GMT. Indicator Background The Consumer Price Index is considered … “GBP/USD: Trading the British CPI Feb 2012”
Yen Gains After Moody’s Downgrades European Countries
The Japanese yen gained today after Moody’s Investor Service downgraded credit ratings of several countries, including Italy, Spain and Portugal. This action hurt market sentiment that was positive after the good news from Greece. Moody’s cut ratings of several European countries yesterday. The rating agency reduced Spain to A3 from A1, Italy to A3 from A2 and Portugal to Ba3 from Ba2. Moody’s also changed … “Yen Gains After Moody’s Downgrades European Countries”