UK pound is higher in the currency market against the US dollar, after dropping earlier today. In earlier trading, UK pound fell against the US dollar on Greek worries and the expectation of poor PMI data. Now, though, things are turning around and the sterling has the upper hand. Earlier, disappointing news threatened the UK pound. PMI data was set to come in worse than expected, but when it came … “UK Pound Higher after Dropping Earlier”
Month: March 2012
MahiFX Provides 0.8 Pips Spreads, 50:1 Leverage Upon Launch
MahiFX, the new forex broker based in New Zealand, is offering technology, pricing and expertise usually only available to institutional traders, to retail traders. Pricing is 0.8 pips for EUR/USD, USD/JPY and EUR/GBP. A demo account of 100K is available to new traders. The broker launched on February 20th after a big event earlier in … “MahiFX Provides 0.8 Pips Spreads, 50:1 Leverage Upon Launch”
GBP/USD Trading the British Services PMI
The British Services PMI (Purchasing Managers’ Index) is based on a survey of purchasing managers in the services sector. Respondents are surveyed for their view of the economy and business conditions in the UK. A reading which is higher than the market forecast is bullish for the pound. Here are all the details, and 5 possible outcomes for … “GBP/USD Trading the British Services PMI”
ECB’s Long Term Refinancing Operation Crucial for the Euro,
Guest post contributed by Elizabeth Goldman on behalf of Everest Forex The Euro zone financial crisis has been at the forefront of economic woes around the globe for over a year now. As some countries lurch toward financial recovery, the eyes of markets around the globe remain focused on the sovereign debt crisis that is crippling … “ECB’s Long Term Refinancing Operation Crucial for the Euro,”
Euro Heads Lower — Again
Euro is heading lower — again — on the Forex market today. Concerns about the eurozone are weighing on the 17-nation currency, and general risk appetite is causing traders to favor the US dollar today. Greenback is in demand as Forex traders and investors express risk averse attitudes. In Europe, the situation is in doubt, with Spain reporting higher jobless claims and raising its deficit target. Additionally, concerns about faltering … “Euro Heads Lower — Again”
Spain’s Economic Siesta Turns into Hibernation
The Spanish government released a new budget proposal together with economic forecasts. The economy is expected to squeeze by 1.7% this year and unemployment is expected to rise to 24.3%. These announcements come on the same day as fresh statistics show that the unemployment rate already stands at 23.3%. Spain is the euro-zone’s fourth largest … “Spain’s Economic Siesta Turns into Hibernation”
Risk Aversion Helps US Dollar
Risk aversion is helping the US dollar today in Forex trading, providing a boost as concerns about the eurozone once again become prominent in the financial markets. Forex traders are looking for some safety and stability, and they are turning to the greenback to get it. The ICE dollar index is trading higher today, gaining as concerns about the global economy, especially as it relates to the eurozone, rise. Retail sales data in Germany showed … “Risk Aversion Helps US Dollar”
5 Hurdles that Could Make Greece Bankrupt
The Eurogroup seemed to have decided to approve the second Greek bailout once again. They even signed an agreement related to the Greek banks. Nevertheless, the bailout wasn’t approved. The “final decision” was delayed to March 9th. Nothing is final expect the upcoming Greek redemption. And time is running out. Here are 5 more things … “5 Hurdles that Could Make Greece Bankrupt”
Aussie Looking for Support in Forex Trading
Australian dollar has been trading choppily today, but right now the Down Under currency is making some progress as general risk appetite returns to the currency market. Right now, Forex traders are looking for yields as better economic data takes center stage. Aussie has overcome earlier losses to trade high against most major currencies. Yesterday, risk appetite was disappointed with Federal Reserve … “Aussie Looking for Support in Forex Trading”
Japanese Yen Mostly Lower
Japanese yen is mostly lower today, thanks in large part to the asset buying program from the Bank of Japan from earlier this month. Stocks have been bolstered by the easing in Japan and Europe, and that has reduced the need for safe haven, sending the yen lower. With the Nikkei above 9,700, there are indications that some Japanese exporters are ready to earn. A weaker yen is better for exporters, giving … “Japanese Yen Mostly Lower”