Japanese yen is heading higher again as sentiment shifts toward pessimism and Forex traders look for safe haven. Concerns about what’s next for the global economy, as well as the latest eurozone scare and the US fiscal cliff, are sending high beta currencies lower as safer assets, like the yen, head higher. Earlier, the yen had fallen, heading lower on Bank of Japan Governor Masaaki Shirakawa‘s promise to aggressively ease monetary … “Japanese Yen Gains as Risk Aversion Returns”
Month: November 2012
MahiFX Introduces Foreign Exchange Currency Converter
New Zealand based forex broker MahiFX announces a new online tool that enables both historical and real time foreign exchange rate data. The tool also marks holidays, trends and fluctuations. MahiFX recently launched trading and price alerts. For more details, here is the official press release: LONDON, 13 November 2012 – MahiFX, the online foreign … “MahiFX Introduces Foreign Exchange Currency Converter”
Pound Rallies as UK Fundamental Data Beats Expectations
The Great Britain pound advanced versus the US dollar and the euro today as almost all economic reports from Britain were better the expected, while the eurozone provided a set of disappointing data, increasing the appeal of the sterling as a haven from Europe’s crisis. The house price balance of Royal Institution of Chartered Surveyors improved to -7 percent in October from -14 percent in September. The Consumer Price Index rose from 2.2 percent in September to 2.7 … “Pound Rallies as UK Fundamental Data Beats Expectations”
Swiss Franc Gains vs. Euro, Drops vs. Dollar
The Swiss franc gained against the euro today, but fell versus the US dollar. The macroeconomic data from Europe was bad today, weakening the shared European currency versus the Swiss currency. Yet fundamentals in Switzerland were not impressive either, limiting gains of the Swissie. The franc has dropped versus the euro in the first half of September, but was continuously rising since the middle of the month, yet it is still far … “Swiss Franc Gains vs. Euro, Drops vs. Dollar”
GBP/USD: Trading UK Claimant Count Change November 2012
The UK Claimant Count Change measures the change in the number of people claiming unemployment benefits. Along with the Unemployment Rate, which is released at the same time, it provides a snapshot of the UK employment sector. A reading which is better than the estimate is bullish for the pound. Here are the details and 5 … “GBP/USD: Trading UK Claimant Count Change November 2012”
USDJPY Technical Update – 12/11/2012
The dollar/yen pair has seen extended downside after price was capped on the 2/11/12, when it hit the 50% retrace of the last swing lower from 84.17 – 77.12. This level coincides with the historical 80.55-65 price pivot area on the USD/JPY. This price pivot is clear to see on the attached daily timeframe chart. Guest … “USDJPY Technical Update – 12/11/2012”
US Dollar Mixed as Forex Traders Consider the Future
US dollar is mixed today as Forex traders consider what is likely to be next. Earlier, the greenback saw some general gains against high beta currencies, but has since lost ground to the euro. Concerns about Greece and the eurozone are there, but not enough to keep the euro really down today. The US dollar index has dropped a little bit after the open, even though there … “US Dollar Mixed as Forex Traders Consider the Future”
Euro Struggles Higher as Greece Weighs
Euro is struggling higher against the US dollar today, gaining ground after earlier losses. Greece is weighing on the 17-nation currency, limiting its gains and causing a certain amount of wariness. Greece is looking to raise funds this week. The embattled country is on the verge of defaulting on 5 billion euros of debt. Unfortunately, there are projections that a treasury bill auction to be held by Greece on Tuesday will only … “Euro Struggles Higher as Greece Weighs”
FXCM Reports Higher Trading Volume in October
US based Forex Broker FXCM reported higher trading volume in October than in September, but lower than in October 2011. The company also reported Q3 results, and they show a rise of 5% in revenue in comparison with Q3 2011. The same pattern of growing trading volume on a monthly basis with a decline year-over-year … “FXCM Reports Higher Trading Volume in October”
EUR/USD: Trading the German ZEW Nov 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 10:00 GMT. … “EUR/USD: Trading the German ZEW Nov 2012”