In the last meeting of the FOMC on June 19-20, an extension of Operation Twist was announced. There was a big debate if this is a stepping stone towards QE3, or just a substitute. The meeting minutes give the impression that it was a substitute: only a major disaster could move the Fed towards expanding … “FOMC Minutes Show that Extended Twist was Substitute to”
Month: July 2012
AUD/USD: Trading the Chinese GDP July 2012
The Chinese Gross Domestic Product (GDP) measures production and growth of the economy. Analysts consider GDP one the most important indicators of economic activity. A reading which is better than the market forecast is bullish for the Australian dollar. Here are all the details, and 5 possible outcomes for AUD/USD. Published on Friday at 2:00 GMT. … “AUD/USD: Trading the Chinese GDP July 2012”
FX Solutions Wins “Mostly Likely to be Recommended” Title
US Forex Broker FX Solutions was awarded the title “Industry’s most likely to be recommended forex”” by Investment Trends, a research organization that specializes in the financial services market. Many traders choose a forex broker according to word of mouth, making this title important. 58% of FX Solutions respondents said they would recommend the company. … “FX Solutions Wins “Mostly Likely to be Recommended” Title”
How Long Can Aussie Gains Last with Softer Chinese Data?
Aussie is a bit higher today against major currencies, carving out gains. However, there are concerns about how long the Down Under currency can maintain its gains with softer Chinese data intruding on the scene. Additionally, there is the chance that general risk aversion will weigh on the Aussie as European troubles continue. Right now, the Australian dollar is enjoying some gains after last … “How Long Can Aussie Gains Last with Softer Chinese Data?”
Euro Inches Higher – For Now
Euro is receiving a bit of a boost right now, inching higher as risk appetite attempts an appearance. However, the feeble gains this morning aren’t expected to last too long. Already, rumors that the euro might really be on its last legs are circulating as Germany balks at approving the latest incarnation of the European Stability Mechanism. Rather than simply rubber-stamping the latest changes to the eurozone’s bailout fund, the German Constitutional Court … “Euro Inches Higher – For Now”
Pound Rises as Creation of European Stability Mechanism Delayed
The Great Britain pound climbed today as traders turned to the currency as a refuge from the European crisis. Worries about the crisis heightened on signs that the permanent bailout fund would be delayed, threatening the ability of the European Union to help its indebted members. The creation of the European Stability Mechanism, a permanent fund that in time should replace the temporary European Financial Stability Facility, was ratified the German parliament, but the Constitutional court delayed … “Pound Rises as Creation of European Stability Mechanism Delayed”
EUR/CHF Cannot Hold for Too Long
EUR/USD recently fell to a fresh two year low at 1.2235. EUR/GBP is well under 0.80, at level last seen in 2008. EUR/JPY is around 11 year lows. UR/AUD ticked below 1.20 – a 23 year low. Only EUR/CHF is flat at 1.20, without any sign of life, thanks to the effective peg that the Swiss … “EUR/CHF Cannot Hold for Too Long”
Malaysian Ringgit Falls as Global Economy Not Supportive for Risky Currencies
The Malaysian ringgit fell today, following other Asian currencies in decline, as signs of global economic slowdown decreased attractiveness of risky currencies with higher yield. China’s imports rose 6.3 percent in June, trailing the forecast of 11 percent. Analysts estimated, before the official data, that gross domestic product of the Asian nation rose 7.9 percent in the second quarter of 2012, slowing from 8.1 percent in the first quarter. The MSCI Asia-Pacific … “Malaysian Ringgit Falls as Global Economy Not Supportive for Risky Currencies”
James Banister Join FxPro Board as Non-Exec Director
The news keeps flowing from FxPro, the Cyprus based forex broker. After announcing a complete move to the agency model (that followed initial move in the UK only), the company now announces a new board member. Banister is a veteran in the forex industry, working for Citibank, FXecosystem and CM2 Partners. London, 11th July 2012: FxPro UK Ltd (‘FxPro’), a … “James Banister Join FxPro Board as Non-Exec Director”
USD/JPY: Trading the US jobless claims Jul 2012
US Unemployment Claims, a key indicator, is released weekly. It measures the number of people who filed for unemployment for the first time during the previous week. A reading which is higher than the market forecast is bearish for the dollar. Here are all the details, and 5 possible outcomes for USD/JPY. Published on Thursday … “USD/JPY: Trading the US jobless claims Jul 2012”