Cyprus based Forex Broker FxPro opens its UK subsidiary for business and launches it with the agency model – no dealing desk. FxPro UK uses more than 10 liquidity providers to provide the prices to the clients, without intervening in the prices and no conflict of interest between the broker and the client. This isn’t a common … “FxPro UK Opens for Business with a No Dealing Desk Model”
Month: June 2012
Market Set For Risk-Off Mode – Elliott Wave Analysis
The market keeps trading lower since last week, Thursday to be more precise when the S&P500 turned nice lower from around 1360 at 61.8% Fibo resistance. Notice that prices broke through the channel support line and successfully closed below it. S&P Elliott Wave Analysis – Click image to enlarge Guest post by Gregor Horvat This … “Market Set For Risk-Off Mode – Elliott Wave Analysis”
4 Reasons to Expect a Disappointment from the EU Summit:
Expectations have risen towards the EU Summit, especially after non-European G-20 leaders told Europe that the issues should be sorted out in Brussels. All 27 EU leaders meet on June 28-29. Given past failures and a wide range of issues on the agenda, little can be expected from this event. Here are 4 reasons why … “4 Reasons to Expect a Disappointment from the EU Summit:”
No QE3 from Fed Means Weekly Gains for Dollar
The US dollar rallied this week as the Federal Reserve disappointed Forex market participants who expected a third round of quantitative easing. QE was priced in and its absence moved the currency higher. Many market analysts were pretty sure that the US central bank would announce QE3 this month. They were very frustrated when the Fed failed to do that. The bank extended its Operation Twist till the end … “No QE3 from Fed Means Weekly Gains for Dollar”
Aussie Rallies on Hopes for QE3
The Australian dollar rose against most of its major peers as negative macroeconomic data from the United States spurred speculations that the Federal Reserve would stimulate the slowing economy. Many Forex market participants were hoping that the Fed would refer to quantitative easing this month. That did not come to pass. Traders were disappointed, but then started to speculate that QE3 was postponed, not rejected. … “Aussie Rallies on Hopes for QE3”
Loonie Profits from Risk Appetite Even as Inflation Slows
The Canadian dollar jumped today as traders were feeling in mood to risk even as problems of Europe remained unresolved and it was unclear if the United States would be able to sustain its economic growth. Fundamentals have not changed, but for some reason traders changed their mood. Perhaps it was desire to see hope after a long time of hopelessness, perhaps markets were bouncing after a long slide. … “Loonie Profits from Risk Appetite Even as Inflation Slows”
Brazilian Real Rallies as There Is Still Some Hope for Europe
The Brazilian real rallied today on hopes that European politicians would find a way out of the sovereign-debt crisis that plague the countries of the European Union. Riskier currencies of emerging markets rallied on improving market sentiment. Leaders of Germany, France, Italy and Spain meet in Rome today, giving investors hope that some cure for the debt contagion may still be found. Luxembourg Prime Minister Jean-Claude Juncker said that money … “Brazilian Real Rallies as There Is Still Some Hope for Europe”
Forint Loses Gains, Still Heads for Third Weekly Advance
The Hungarian forint climbed today, before trimming its gains, as the government may remove a legislative obstacle that prevented talks about a bailout. The currency pulled back after the initial gains, but recovered and headed for a third straight weekly advance. The Hungarian government plans to change the law on the Magyar Nemzeti Bank, the Hungarian National Bank, that caused concerns to the European Central Bank and the International Monetary Fund. The parliament may approve the bill … “Forint Loses Gains, Still Heads for Third Weekly Advance”
Only a Wholesale Market Collapse Can Trigger QE3
The Fed’s monetary easing programs are getting smaller and smaller, and so are the chances of QE3. John Kicklighter of DailyFX. Only a collosal collapse could trigger action. In the interview below, Kicklighter talks about QE3, the shape of Spain’s bailout, Japanese intervention and other topics. John Kicklighter is a currency strategist for FXCM in … “Only a Wholesale Market Collapse Can Trigger QE3”
US Dollar Falls Back as Traders Find Optimism
US dollar is falling back today, heading lower as optimism makes an appearance. High beta currencies like the euro and the pound have the upper hand today as Forex traders look for a solution to the problems besetting the eurozone. Eurozone leaders from Germany, France, Spain and Italy are meeting today to try to hash out a solution to the eurozone debt contagion. At the same time, Spain is likely to request bank aid. The news has … “US Dollar Falls Back as Traders Find Optimism”