Towards the end of 2012, Greece finally received some aid and another reduction of debt. European leaders, led by Germany, preferred to avoid the politically sensitive question of writing off loans to Greece. Many see this as inevitable, and Angela Merkel even raised this option in a trial balloon. However, she prefers pushing this back … “European Focus Moving from Debt Crisis to Core Economies”
Month: January 2013
USD/JPY & GBP/JPY Reach Record High Since 2010
The Japanese yen fell to the lowest level since June 2010 against the US dollar and to the lowest since May 2010 versus the Great Britain pound amid the positive market sentiment and on prospects of further stimulus from Japan’s central bank. It is expected that the central bank will continue to work closely with the government to stimulate the economy. According to speculations, the BoJ may add to its goals specific unemployment level. Whatever … “USD/JPY & GBP/JPY Reach Record High Since 2010”
Euro Jumps as ECB Anticipates Recovery
The euro surged today after the European Central Bank left its monetary policy unchanged and President Mario Draghi said that Europe’s economy should start to recover this year. The shared European currency reached the highest level since May versus the Japanese yen. According to some polls, as much as the one third of analysts has though that the ECB is going to slash rates. That did not come true … “Euro Jumps as ECB Anticipates Recovery”
Brazilian Real Rises Even amid Negative Domestic Fundamentals
The Brazilian real advanced today amid the positive sentiment created by the news from China and Europe, even as the data suggested that Brazil’s industrial output declined, spurring speculations that the central bank will keep interest rates record low. Brazil’s heavy-vehicle traffic declined 3.1 percent in December from a year ago and cardboard sales dropped 0.9 percent, suggesting that industrial production weakened. That may cause the Central … “Brazilian Real Rises Even amid Negative Domestic Fundamentals”
Fiscal Cliff – Just a Ledge
US politicians did it again: they reached a temporary solution in the last minute, or actually after the last minute. While the fiscal cliff was averted, a significant part of the problems were just pushed back to the end of February. Perhaps this time, can they reach solutions before the deadline? * This article is … “Fiscal Cliff – Just a Ledge”
Rand Drops amid Labor Unrest in South Africa
The South African rand dropped today as concerns about the worker strikes overshadowed the positive trading data from China. The news from China boosted commodity currencies, but the local problems did not allow ZAR to profit from that. China’s exports rose in December more than was expected, resulting in the trade surplus of $31.6 billion, which was above the forecast of $20.1 billion. The Standard & Poorâs GSCI Index … “Rand Drops amid Labor Unrest in South Africa”
US Dollar Drops as Risk Appetite, Gold Rise
US dollar is dropping today, heading lower as risk appetite makes an appearance, and as gold rises, putting downward pressure on the greenback. For now, there is optimism, and that is helping currencies like the euro and the Aussie against the US dollar. The latest news out of China is an unexpected trade surplus. This news has been helping risk appetite today, since the thought is that China will be able … “US Dollar Drops as Risk Appetite, Gold Rise”
BOE, As Expected, Stays the Course
The Bank of England has, as expected by most analysts, decided to stay the course on interest rate policy and the current asset purchase program. The news has led to very little change on the Forex market, with the pound still weak against the euro, but gaining against the US dollar. Today’s Bank of England announcement was to keep the interest rate at 0.5 per cent, while keeping the asset purchase program steady at 375 billion pounds. … “BOE, As Expected, Stays the Course”
FXCM and Tradency cooperate to offer mirror trading
US based Forex broker FXCM has decided to make Tradency’s Mirror Trader part of their core services. This will enable FXCM clients to use mirror trading capabilities using their regular live account. This interesting cooperation will be probably be well-received by traders. The world of mirror trading is growing. Here is more information from the … “FXCM and Tradency cooperate to offer mirror trading”
NZD/JPY Reaches Record High Since 2008 as Stocks Rally
The New Zealand dollar advanced yesterday and kept its gains today as optimism returned to the Forex market and stocks rallied on hopes for corporate earnings in the United States. The currency reached the highest level since 2008 against the Japanese yen. The Standard & Poorâs 500 Index of shares rose 0.3 percent yesterday. Analysts estimated that earning of S&P 500 companies increased as much as 2.9 percent last quarter. The MSCI World Index … “NZD/JPY Reaches Record High Since 2008 as Stocks Rally”