Japanese yen has, once again, been strengthening a bit. However, the Bank of Japan‘s new lending program, unveiled last week, seems to be having at least some effect, although the future effect is likely to be a little bit greater. Right now, the yen is strengthening against the US dollar and the UK pound. There is a bit of uncertainty in the markets right now. In the United States, the focus is on the tight Presidential … “Yen Strength Fades a Little on BOJ Lending Program”
Month: November 2012
Euro Inches Higher as Risk Appetite Makes an Appearance
Euro is inching higher, gaining a little after some earlier losses. Risk appetite is making a slight appearance, and that is helping the euro as Forex traders focus on something other than Greece, and as European markets gain a little ground. Earlier, uncertainty about Greece sent the euro lower, and it touched a two-month low. Right now, though, the euro has managed to inch higher as European stocks show some … “Euro Inches Higher as Risk Appetite Makes an Appearance”
FXCM Partners with Spain’s GVC Gaesco
US based forex broker FXCM is partnering with GVC Gaesco, a Spanish financial group that has over 24,000 clients and 2.4 billion euros under management. The partnership includes white-labeling of FXCM’s Trading Station and MT4 to both retail forex traders and CFD clients. FXCM recently announced a partnership with Barclays Stockbrokers. More details about the partnership … “FXCM Partners with Spain’s GVC Gaesco”
ACM Gold & Forex Nominated as the Best Forex Broker
ACM is nominated for the best forex broker in Africa as well as the fastest newcomer and best dealing room in MENA, On November 15-16th, the awards will be handed out in an even in Dubai. For more details, here is the official press release. JOHANNESBURG – ACM Gold & Forex has been nominated as the best forex broker in … “ACM Gold & Forex Nominated as the Best Forex Broker”
Dollar Gains Ahead of Election
The US dollar gained against some riskier currencies, including the euro and the Great Britain pound, but fell against the Japanese yen. Debt woes still plague European countries and uncertainty ahead of the US presidential election makes traders hoard safer assets, including the greenback. Whatever happens after today’s election in the United States, investors preferred to keep safer assets before the outcome will be known. That increased the appeal of the dollar, … “Dollar Gains Ahead of Election”
Pound Drops as Services PMI Reaches 22-Month Low
The Great Britain pound weakened today, falling against the US dollar and the Japanese yen, while erasing its earlier gains versus the euro. The losses followed that data that showed very slow growth of the UK services industries. The services Purchasing Managers’ Index fell from 52.2 in September to 50.6 in October. The index still indicates growth, but the rate of expansion was slowest in 22 months. Analysts have expected the gauge … “Pound Drops as Services PMI Reaches 22-Month Low”
Weekly Outlook for CAD Neutral
Last trading week was not great for the Canadian dollar (CAD) as the currency fell against some majors, including the US dollar and the Japanese yen, but gained versus the euro. What outlook analysts do have for this week? The most important event this week is the presidential election in the United States. The problem is that not only the outcome, but market reaction to it as well, is hard to predict. Last … “Weekly Outlook for CAD Neutral”
Canadian Dollar Drops on Risk Aversion
Canadian dollar is heading lower today as uncertainty prompts risk aversion in the Forex market. Forex traders are concerned right now about risk, thanks to all of the uncertainty about the global economy, oil prices, the eurozone, and the outcome of the US Presidential Election. There is a lot of uncertainty to be had right now, and high beta currencies like the loonie are heading lower as a result. Right now, one of the big factors … “Canadian Dollar Drops on Risk Aversion”
Brazilian Real Falls as Analysts Cut Outlook for Interest Rates
The Brazilian real fell today as analysts revised down their outlook for Brazilian borrowing costs, even though forecasts for economic growth and consumer inflation remained steady. Some indicators, including industrial output, were bad enough to warrant lower interest rates. Problems of the global economy make economists revise their expectations for borrowing costs in various countries and Brazil was not an exception. Experts cut their forecast for Brazil’s main … “Brazilian Real Falls as Analysts Cut Outlook for Interest Rates”
Euro Weakens on Greek Concerns
Once again Greece is the focus of every Forex trader, and uncertainty is dragging the euro down as a result. Meanwhile, the uncertainty regarding the US election is also dragging on high beta currencies like the euro. Right now, the euro is headed lower, weakening a great deal as worries about Greece threaten the situation in the eurozone. Once again, there are concerns about what’s next for the struggling country, and whether or not parliament … “Euro Weakens on Greek Concerns”