Admiral Markets, which has over 12,000 clients and a monthly trading turnover volume of $35 billion, is announcing the launch of MetaTrader 5 for its clients. Retail clients can now utilize trading tools that were available earlier only for institutional level trading. More details are in the press release below: The Admiral Markets Group as … “Admiral Markets Introduces MetaTrader 5 on Live Accounts”
Month: October 2012
British Pound – UK Exiting the Recession?
The British economy is contracting for three consecutive quarters. The initial news of a big downfall in Q2 was later trimmed down from -0.7% to -0.4%. There are some signs of improvement during Q3 – a preliminary report for this quarter will be published at the end of October and is likely to draw a … “British Pound – UK Exiting the Recession?”
Pound’s Gains Followed BoE Minutes
Some positive news for the pound came from Great Britain, allowing the currency rise against the Japanese yen. The sterling was also higher versus the US dollar yesterday, but pulled back today. The currency extended its downfall against the euro. The Bank of England released the minutes of its last monetary policy minutes yesterday. The minutes showed that the central bank’s policy makers were divided in their opinion about the effect … “Pound’s Gains Followed BoE Minutes”
Canadian Dollar Snaps Three-Day Drop
The Canadian dollar jumped yesterday, snapping the three-day decline against its US peer, and maintained its gains today as risk appetite on the Forex markets resulted in gains for currencies tied to growth. FX traders were drawn toward currencies with higher yield and that helped to stop the loonie’s rally to the downside. Hopes that Europe will be able to resolve its difficulties helped to lift mood of speculators. Positive data from … “Canadian Dollar Snaps Three-Day Drop”
Markets Buy Spain’s Wishful Thinking (For Now)
Spain thinks it can get funds using a lightweight solution of a credit line. This wishful thinking is currently accepted by the markets, who are giving the euro-zone’s fourth largest economy the benefit of the doubt, says Michael Derks of FXPro. In the interview below, Derks discusses the EU Summit, the timing of additional British … “Markets Buy Spain’s Wishful Thinking (For Now)”
Elliott Wave Analysis: Dollar Index Falls as S&P500 Rises
The US Dollar Index extended its losses and fell even lower yesterday, now through the channel support line which puts markets into an even more bearish mode than beforehand. US Dollar Index Elliott Wave S&P We believe that wave 5 is underway which should unfold in five waves towards 78.00 projected zone. Any short-term bounce … “Elliott Wave Analysis: Dollar Index Falls as S&P500 Rises”
Euro Strengthens on Good News Out of the Eurozone
Euro is finding strength today, heading higher as the news out of the eurozone improves. News about Greece and Spain is helping the 17-nation currency against most of its counterparts. Right now, euro is firming against other majors as better news improves the outlook for the 17-nation currency. In Greece, an agreement is closer to being reached about more time for the country to meet austerity requirements. The news that Greece is closer … “Euro Strengthens on Good News Out of the Eurozone”
Turkish Lira Retains Strength Even After Rate Cut
The Turkish lira strengthened today as Barclays Plc said that demand for the currency used in carry trade will remain despite the interest rate cut earlier this month. The Central Bank of the Republic of Turkey lowered the average interest rate to 5.75 percent on October 4, the lowest level in 11 months. The bank also decreased the upper end of its interest-rate corridor by 150 basis points last month. Despite that, Barclays claimed … “Turkish Lira Retains Strength Even After Rate Cut”
EUR/USD: Trading the Philly Index October 17 2012
The Philadelphia Fed Manufacturing Index is an important leading indicator, and is released monthly. It examines manufacturers’ opinions of business activity, and helps provides a snapshot of the business climate and sentiment in the US. A reading which is higher than the market forecast is bullish for the dollar. Here are all the details, and … “EUR/USD: Trading the Philly Index October 17 2012”
Japanese Yen Weakens on Officials’ Comments
Japanese yen showed a little strength earlier today, logging small gains against the euro and the pound. However, things have changed since then, and the yen is weakening again, thanks to Japanese officials’ comments about economic stimulus and a weaker yen. Earlier, the yen showed strength on the Forex market. However, comments by Seiji Maehara, the Economics Minister, have put a damper on yen strength. Maehara said that the government would take … “Japanese Yen Weakens on Officials’ Comments”