US based forex broker Oanda has been awarded the Best Global Forex Broker prize by International Business Times. This is the second year in a row in which Oanda receives this award. IBTimes awarded FX Solutions the “Best Forex Broker US” title. Oanda has proven to be quite innovative of late, with the currency baskets … “IBTimes Names OANDA “Best Global Forex Broker””
Month: August 2012
Bernanke Can Disappoint Again in Jackson Hole
As already discussed, there is a weak signal for every strong one in the US economy. Fed Chairman Ben Bernanke already said that QE programs have “diminishing returns”. This was followed by saying that non-standard tools shouldn’t be used lightly and that the tools have “some capacity” to help the economy – not very QE3ish. … “Bernanke Can Disappoint Again in Jackson Hole”
Euro Falls as Greece Takes Headlines Again, Rebounds
The euro fell yesterday as fears about Greece’s exit from the eurozone resurfaced, driving investors away from the shared European currency. Today, the euro managed to pare its losses and gained against other majors. Greece’s Prime Minister Antonis Samaras are going to meet other European leaders to convince them to ease the terms of the aid. Additionally, Greece may ask for another tranche of the bailout. The problem is that Germany’s leaders … “Euro Falls as Greece Takes Headlines Again, Rebounds”
Ruble Falls as Traders Feel Doubts About QE
The Russian ruble fell today on speculations that the US Federal Reserve would not embark on quantitative easing. The current traders’ optimism derived for the most part from hopes on stimulating measures from central banks. Doubts about such steps weaken risk appetite. The recent positive data from the United States made investors doubt that the Fed would deem QE3 necessary. Prices for crude oil, the main Russian export, … “Ruble Falls as Traders Feel Doubts About QE”
Aussie Inches Higher, But Direction Not Certain
Aussie is heading higher today, but its direction is far from certain. Australian dollar has overcome some earlier losses to the US dollar, and it is gaining against European currencies right now. Disappointing data in Australian has been holding the Aussie back somewhat. After yesterday’s positive US economic data, Australia’s lukewarm data did little to help the Aussie on the Forex market. Consumer confidence … “Aussie Inches Higher, But Direction Not Certain”
US Dollar Performance Mixed
US dollar performance is mixed today as Forex traders look for direction and mull economic data. Yesterday, July retail sales showed a bigger improvement than expected, but the latest retail-level inflation data shows flatness. As a result, QE3 may not be an immediate occurrence. The US dollar is higher against some major currencies, like the euro, and down against the pound and the yen. It looks to be a somewhat interesting … “US Dollar Performance Mixed”
USD/JPY: Trading the Philadelphia Index August 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 health of the manufacturing sector. A reading which exceeds the forecast is bullish for the dollar. Here are all … “USD/JPY: Trading the Philadelphia Index August 2012”
Printing Euros Would Boost the Euro
Printing currency does not necessarily devalue it immediately. A massive move by the ECB to absorb Spanish and Italian bonds would probably be greeted with a big sigh of relief. The support offered to the crisis could offset inflated money supply in the medium term, says John Kicklighter of DailyFX. In the interview below, Kicklighter … “Printing Euros Would Boost the Euro”
State of the States: A Weak Signal for Every Strong One
The single most important topic that moves the dollar is QE3, or the lack of it. Since QE2 ended in June 2011, the debate is never-ending. Bernanke gave hints for QE2 in August 2010 in Jackson Hole, but didn’t repeat it in 2011, disappointing some market participants. Will he pave the road for QE3 now? … “State of the States: A Weak Signal for Every Strong One”
Krona Gains on Growth of Swedish Industrial Production
The Swedish krona appreciated today after the reports showed slower inflation and faster industrial production growth. The positive domestic fundamentals added to the current positive view on riskier currencies by Forex market participants. Swedish inflation grew 0.7 percent in July, following the 1.0 percent growth in June. Industrial production rose 0.4 percent in June from May on a seasonally adjusted basis. The mood on markets was positive, especially after some macroeconomic … “Krona Gains on Growth of Swedish Industrial Production”