The New Zealand dollar erased its earlier gains today as the potential Greece’s exit from the eurozone continued to spoil mood of Forex market participants. The currency traded near the lowest level this year. Greece faces a new election on June 17 and traders are worried that it may result in the country leaving the euro-union. The announcement of the European Central Bank that it stopped lending to some Greek banks was not … “NZ Dollar Near This Year’s Low”
Month: May 2012
How to Trade the Greek Euro Exit with EUR/USD
Greece is close to leaving the euro-zone in a process that is accelerating rapidly. This rare event, even if highly anticipated, is expected to trigger high volatility and provide trading opportunities. Here is an explanation about the background, when can it be expected, how markets are likely to react and two ways to trade it … “How to Trade the Greek Euro Exit with EUR/USD”
FX Solutions CEO: Volatility is Cyclical – Trading Opportunities
I had the chance to speak with Michael Cairns, CEO of FX Solutions. In the interview below he speaks about the company, fixed spreads, plans for the future and how markets and regulation impacts brokers and more. Regarding market volatility, Cairns stated that it is cyclical, and that there are always opportunities. I spoke with … “FX Solutions CEO: Volatility is Cyclical – Trading Opportunities”
Loonie Weakens as Europe Hits Commodity Prices
The Canadian dollar yesterday as the crisis in Europe escalates, damping demand for commodities and commodity-dependent currencies. The loonie trimmed its losses today on good fundamentals in Canada and the United States. Talks about Greece leaving the eurozone intensified after the European Central Bank paused lending to some Greek banks. The ECB said it would resume borrowing after the banks boost their capital: Once the recapitalization process is finalized, and we expect this … “Loonie Weakens as Europe Hits Commodity Prices”
Pound Falls as UK Economy Threatened by Europe’s Crisis
The Great Britain pound slumped today after the Bank of England trimmed its growth forecast as the crisis in Europe escalates. Positive employment data did not manage to help the weakening currency. BoE Governor Mervyn King said at today’s press conference that the central bank cut its growth forecast. The Governor explained that the European debt crisis remains a main threat to the UK economy as the eurozone is the main trading partner … “Pound Falls as UK Economy Threatened by Europe’s Crisis”
Yen Falls vs. Majors as Traders Anticipate Intervention from BoJ
The Japanese yen fell against other major currencies today on speculation that the Bank of Japan will continue its efforts to weaken the currency. Even fears of the European debt crisis were not been able to help Japan’s currency. Specialist estimated that Japan’s gross domestic product grew as much as 3.5 percent of the first quarter of 2012 from Q1 2011, when it fell 0.7 percent. Analysts predict that … “Yen Falls vs. Majors as Traders Anticipate Intervention from BoJ”
FXCM Announces an App Store for Forex Traders
US Forex Broker FXCM launches an application store for forex traders. The idea is that traders can customize their trading experience through various applications related to indicators, charts, social sharing and more. In addition, FXCM calls software developers to join its community and suggest their applications to the store. FXCM recently launched Android and iPhone apps and … “FXCM Announces an App Store for Forex Traders”
US Dollar Mixed as Euro Holds on to Gains
US dollar is mixed today as gains against the pound and the yen are offset to some degree by the way the euro is managing to eke out gains in spite of the turmoil over Greece. However, even with this small setback against the euro, the US dollar is still likely to remain strong overall, since safe haven currencies are likely to be in demand for some time. For now, the US dollar is turning … “US Dollar Mixed as Euro Holds on to Gains”
Euro Struggles Higher as Data Improves in the United States
Earlier, the euro headed lower as concerns about Greece overcame the markets and worried Forex traders and investors. Good news out of the United States, though, is changing the picture a little bit and providing a measure of confidence that is helping the euro to tenuous gains this morning. Earlier, the euro dropped on the disappointing news out of Greece. Greek President Karolos Papoulias has said that new Parliamentary elections will be called, … “Euro Struggles Higher as Data Improves in the United States”
EUR/USD: Trading the Philadelphia Fed Index May 16 2012
The Philadelphia Fed Manufacturing Index is an important leading indicator, and is based on a survey of manufacturers in the Philadelphia area. It examines manufacturers’ opinions of business activity, and helps provides a snapshot of the business climate and sentiment in the US. A reading which is higher than the market forecast is bullish for the dollar. Here are all the … “EUR/USD: Trading the Philadelphia Fed Index May 16 2012”