UK pound is mixed in Forex trading today, falling against the euro, but higher against the US dollar and the Japanese yen. This development follows choppy trading earlier, in which high beta currencies were mostly lower, and the pound gained against the euro. Even though things seem to have turned around a bit, though, pound is struggling to retain its recent gains. Forex traders are looking for direction … “UK Pound Mixed as Forex Traders Look for Direction”
Month: July 2012
Euro Struggles to Regain Some of Its Earlier Losses
Euro dropped to a two-year low against the US dollar earlier, but is trying to pare some of its losses and log some gains ahead of a meeting between European finance ministers. Uncertainty is strong today, but there are small inklings of hope for the eurozone as well. Eurozone finance ministers are preparing for a meeting in which they will discuss some of the measures that the European ummit suggested to fight the sovereign debt … “Euro Struggles to Regain Some of Its Earlier Losses”
FxPro Adopts the No Dealing Desk Model in all
Cyprus based Forex Broker FxPro moves to the agency model (or ECN) in all jurisdictions, and no longer has a conflict of interest with the clients as in the market maker model. The move follows an adoption of this model in the UK and is a significant change. A “no dealing desk” model means that orders … “FxPro Adopts the No Dealing Desk Model in all”
GBP/USD: Trading the British Manufacturing Jul 2012
The British Manufacturing Production, a key indicator, provides analysts and traders with a snapshot of the health of the UK manufacturing sector. 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. Published on Tuesday at 8:30 GMT. Indicator Background … “GBP/USD: Trading the British Manufacturing Jul 2012”
Week of Fear Boosts Dollar to Two-Year Record vs. Euro
The positive market sentiment, caused by last week’s European summit, completely evaporated this week, allowing the US dollar to gains against most of major currencies. Of course, the same risk aversion also boosted the yen, helping it to outperform the greenback. Against the euro, the US currency jumped to the highest level in two years. The first major theme of this week was monetary policy decisions of central banks. The European Central Bank cut … “Week of Fear Boosts Dollar to Two-Year Record vs. Euro”
Canadian Dollar Suffers from Risk Aversion on FX Market
The Canadian dollar dropped today after worse-than-expected US non-farm payrolls put the Forex market in risk-off mode, hurting currencies that are tied to commodities and economic growth. Unsurprisingly, the Canadian currency outperformed the euro. US employers added 80,000 jobs in June. That was below the anticipated figure of 97,000. Markets reacted negatively to the data. Crude oil dropped as much as 3.5 percent to $84.14 per barrel. The Standard & Poorâs … “Canadian Dollar Suffers from Risk Aversion on FX Market”
Rupee Down as Risk Aversions Makes Appearance Again
The Indian rupee fell today as optimism caused by last week’s European summit was all but gone from the Forex market and signs of global economic slowdown drove away investors from riskier currencies of emerging markets. Last two days of this week were very bad for higher-yielding assets. Quinten Bertenshaw, an analyst at Tradition Analytics, said after today’s US non-farm payrolls: The markets have responded negatively in what … “Rupee Down as Risk Aversions Makes Appearance Again”
US Dollar Heads Higher as Uncertainties Abound
US dollar is heading higher today, thanks in large part to uncertainties about what’s next for the global economy. Everything seems to be slowing, and concerns about what’s next for the eurozone are taking center stage again. With all the worries, Forex traders are turning to the US dollar as a safe haven. Earlier today, the US non-farm payrolls report for June was released. The result was somewhat disappointing. Even though … “US Dollar Heads Higher as Uncertainties Abound”
Rand Drops as US Non-farm Payrolls Spark Fear on FX Market
The South African rand dropped today after worse-than-expected US non-farm payrolls fueled fear among investors that global economic growth stalled. Today’s decline erased all gains that the currency has got earlier this week. US employers added fewer jobs last month than market participants hoped for. The negative data added to concerns, caused by yesterday’s interest rate cuts by various central banks. … “Rand Drops as US Non-farm Payrolls Spark Fear on FX Market”
Euro Drops as Spanish Bond Yields Surge
All the optimism from last week’s EU summit announcement seems to have drained away. Now, the euro is heading lower on concerns about sovereign debt. Nothing seems to have changed, and Spanish bond yields are surging, once again sparking fears that the country will be unable to handle its debt. Euro isn’t getting much help from the ECB, either, and that has many concerned. Yesterday, … “Euro Drops as Spanish Bond Yields Surge”