Forex Magnates is holding a very interesting summit of forex executives on November 14th in London. FXCM will be the sponsor of this event, and will also take part in part of the activities. CEO Drew Niv will participate in one of the panels. Here are more details from FXCM’s press release: New York—FXCM Inc. … “Forex Magnates Hosts First Annual Summit – Sponsored by”
Month: August 2012
NZD/USD Trading the New Zealand Business Confidence
The New Zealand Business Confidence index surveys a wide range of businesses to determine confidence in the business sector. A reading which is higher than the market forecast is bullish for the New Zealand dollar. Here are the details and 5 possible outcomes for NZD/USD. Published on Thursday at 1:00 GMT. Indicator Background The Business Confidence index measures businesses in a wide range sectors, such … “NZD/USD Trading the New Zealand Business Confidence”
Rand Feels Weaker as GDP Trails Forecasts
The South African rand retreated today as nation’s economic growth was slower than investors had hoped for. Nevertheless, the losses were limited as Forex market participants still hope that Europe would deal with its problems and the Federal Reserve would ease its monetary policy. South Africa’s gross domestic product expanded 3.2 percent in the second quarter on an annual basis, following the 2.7 percent growth in the first … “Rand Feels Weaker as GDP Trails Forecasts”
Prices for Oil Rise, Canadian Dollar Follows
The Canadian dollar advanced as prices for crude oil, the major nation’s export, gained, adding to the appeal of Canadian assets. Traders felt confident enough today to buy the Canadian currency. Futures on crude oil gained as much as 0.9 percent to $96.33 per barrel in New York yesterday. Prices for crude were rising as Hurricane Isaac heads to the Gulf of Mexico, forcing oil companies to halt their operations. The region contributes more than a quarter … “Prices for Oil Rise, Canadian Dollar Follows”
Catalonia’s Aid Request Could Speed Spanish One, ECB Blitz
Catalonia, Spain’s rich northeastern region officially asks for aid from the central government’s liquidity fund – yet another ball to the Spanish court. This request, worth 5.023 billion, will weigh on the government’s efforts to balance its budget and could accelerate the move for asking for official help from its European peers. This in turn, … “Catalonia’s Aid Request Could Speed Spanish One, ECB Blitz”
US Dollar Forecast: Waiting for Jackson Hole
US dollar is lower pretty much across the board as optimism about the eurozone adds a little risk appetite to the mix. Also not helping the US dollar is the fact that some are wary of what Ben Bernanke will say in Jackson Hole on Friday. The highlight of this week, even though consumer sentiment data is on the docket, and Case-Shiller news is expected, is going to be Ben Bernanke’s August … “US Dollar Forecast: Waiting for Jackson Hole”
Euro Sees Gains, But Upside is Likely Limited
Euro is heading higher today as Forex traders assume that the European Central Bank will act to alleviate some of the issues with the sovereign debt situation. However, gains are likely limited, since no one has details, and possible actions are only rumors. Euro is getting a bit of a boost since the assumption is that the ECB will not let the euro fail â even if Germany balks … “Euro Sees Gains, But Upside is Likely Limited”
NZ Dollar Down on China’s Industrial Profits
The New Zealand dollar fell today after the report showed that profits of Chinese industrial companies declined, adding to signs of global economic slowdown and damping prospects for New Zealand exports. Industrial profits in China were down 5.4 percent in July from a year ago. China is the second largest trading partner of New Zealand. The Standard & Poorâs 500 Index lost 0.1 percent and S&P GSCI Index of commodities … “NZ Dollar Down on China’s Industrial Profits”
USD/JPY: Trading the US Preliminary GDP
US Preliminary 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 dollar. Here are all the details, and 5 possible outcomes for USD/JPY. Published on Wednesday at 12:30 GMT. Indicator … “USD/JPY: Trading the US Preliminary GDP”
Signs of Slowdown Spur Safety Demand, Yen Profits
The Japanese yen climbed today on signs of economic slowdown in various parts of the world, including Japan itself, that spurred demand for safer currencies. Currently, the yen shows signs of weakening. Japan’s government downgraded its economic outlook and noted that “weak movements have been seen recently”, mentioning the negative impact of “further slowing down of overseas economies and sharp fluctuations in the financial and capital markets”. The MSCI Asia Pacific Index of shares … “Signs of Slowdown Spur Safety Demand, Yen Profits”