The UK economy isn’t doing so well but not all forces are against the pound. Here are the factors moving sterling: An official recession was confirmed after a second quarter of contraction in Q1. Q2 doesn’t seem to be much better. Unemployment refuses to fall, and the weaker demand from Europe hurts the economy. Lower inflation: … “British Pound – QE Versus European Flows”
Month: July 2012
GBPUSD: Correction Finished; Now Up To 1.58 (Elliott Wave
Cable was trading lower early last week, when pair touched channel support and then sharply reversed to the upside. This usually occurs in a corrective-contra-trend price action. In fact, a decline since mid-June is clearly in three waves and now the bounce from 1.5389 also looks impulsive so looking for higher levels at this stage … “GBPUSD: Correction Finished; Now Up To 1.58 (Elliott Wave”
Greece Can Return to the Spotlight Sooner than Later
After the pro-bailout New Democracy party won the elections in Greece, the country got some relief. A new government was formed, and the new Prime Minister Antonis Samaras skipped the EU Summit (due to medical issues). This kept Greece away from the spotlight. In the good news department, a rise in hotel reservations was recorded … “Greece Can Return to the Spotlight Sooner than Later”
FXCM Sees Continued Rise in Institutional Trading in June,
US based forex broker FXCM published interesting metrics for the month of June and for the second quarter of 2012. In May, FXCM saw 23% rise in retail customer volume in May from April, FXCM continues to stand out in institutional trading, which grows at a rapid pace. Numbers for retail were more mixed. More details … “FXCM Sees Continued Rise in Institutional Trading in June,”
Germany Isn’t Immune
Many still see the euro as the heir of the old Deutschmark despite the currency union and despite the fact that the debt crisis in countries other than Germany weigh on the value of the currency. The euro-zone’s trade balance can justify this stance: Germany’s surplus pushes the whole region to a surplus. Germany’s output … “Germany Isn’t Immune”
EUR/USD: Trading the German ZEW Jul 2012
The German ZEW Economic Sentiment Index is based on a monthly survey of institutional investors and analysts and their views of the German economy. A reading that is higher than the market forecast is bullish for the euro. Here are all the details, and 5 possible outcomes for EUR/USD. Published on Tuesday at 9:00 GMT. … “EUR/USD: Trading the German ZEW Jul 2012”
Problems in Italian Bailout
Italy may a face a bailout sooner than later. Like the Italian sovereign, also Italian banks are somewhat hiding behind Spanish banks. The situation there isn’t much better; however, Italy’s main problem is financing itself (the sovereign) in the markets. There is a good chance that Italy will receive some kind of help to lower … “Problems in Italian Bailout”
Tim Smart as Appointed as OANDA CFO
OANDA Corporation has appointed Tim Smart as Chief Financial Officer. This appointment was part of the planned management transition that occurred in May 2012. Reporting to OANDA’s CEO K Duker, Tim is part of the executive team responsible for setting the company’s strategic direction and measuring results to ensure growth targets are achieved. Tim has … “Tim Smart as Appointed as OANDA CFO”
NZD/USD: Trading the New Zealand CPI
The New Zealand CPI (Consumer Price Index), which is released each quarter, is a key inflation index which measures the change in the price of goods and services charged to consumers. A reading which is higher than the market forecast is bullish for the New Zealand dollar. Here are all the details, and 5 possible outcomes for NZD/USD. Published on Monday at … “NZD/USD: Trading the New Zealand CPI”
Spain’s Rajoy Tells Public Workers that There’s No Santa
As part of the big austerity plan, Spain’s Prime Minister Mariano Rajoy announced the suspension of a special Christmas bonus to public workers and other senior officials. In addition, a few of the “moscosos”, or free days, will be cut off. These are the lighter sides of the public sector reforms: Rajoy also declared a … “Spain’s Rajoy Tells Public Workers that There’s No Santa”