The Malaysian ringgit rose somewhat today, but was still heading to weekly loss as the risk aversion sentiment on the market deterred Forex traders from buying risky currencies. The Federal Reserve released the minutes of its last January policy meeting this week, showing that some members of the board talked about varying pace of asset purchases. Traders interpreted such words as a sign that the Fed is going to slow the purchases … “Ringgit Gains, Still Heads to Weekly Loss”
Month: February 2013
Japanese Yen Weaker as World Leaders Fail to Criticize Stimulus
Japanese yen is weakening again, dropping as world leaders fail to criticize Japan’s aggressive easing efforts in the name of economic stimulus. Without pressure to stop easing, there is speculation that Japan’s campaign to weaken the yen will soon be back on track. Even as US President Barack Obama prepares to meet with Japanese Prime Minister Shinzo Abe, the yen is dropping. Many thought that Japan would … “Japanese Yen Weaker as World Leaders Fail to Criticize Stimulus”
Turkish Lira Heads to Weekly Decline
The Turkish lira fell today and headed to significant weekly decline as this week’s interest rate cut by the nation’s central bank reduced attractiveness of lira-denominated bonds. The yield on Turkish debt maturing in two years fell to the record low of 5.67 percent yesterday. The Turkish central bank explained its recent rate cuts by concern that the overvalued currency had led to increasing current-account deficit. The lira was also weak as the last minutes … “Turkish Lira Heads to Weekly Decline”
Forex Crunch wins Best Fundamental Analysis Report at FXStreet
Forex Crunch is honored to announce that the site won the “Best Fundamental Analysis Report” award in FXStreet’s Best Awards 2013. We thank everybody who voted for us among the wide audience and the professional jury. The prize is for the section “How to trade events” written by Kenny Fisher. FXStreet is one of the … “Forex Crunch wins Best Fundamental Analysis Report at FXStreet”
Euro Struggles on Disappointing Bank Pay Back News
The news that European banks planned to repay ECB crisis loans on an early schedule has been helping the euro in recent weeks. Therefore, when the report came that banks hadn’t repaid as much as some expected, the euro took a hit. The 17-nation currency is struggling today. Euro touched a low not seen for six weeks today following the release of a report on European banks’ repayment of crisis loans. The European Central Bank … “Euro Struggles on Disappointing Bank Pay Back News”
FX Solutions Leave the US Retail Market – Clients go
Another forex broker shuts down its activities in the United States. FX Solutions, of the City Index Group, leaves the country and clients will be able to trade with GAIN Capital (forex.com). Gain Captial recently received the clients of GFT, which also ceased operations in the US. It will be interesting to see if other … “FX Solutions Leave the US Retail Market – Clients go”
Eurozone to shrink in 2013: Why this is good news
An economic slump in the Eurozone could be good news for sterling if the European Central Bank, who are now forecast to cut interest rates at some point this year, do indicate further monetary stimulus. The pound has endured another torrid week, falling across the board against its major trading partners as negative sterling sentiment … “Eurozone to shrink in 2013: Why this is good news”
tradable extends reach to India – partners with Tradenext
The Danish startup tradable continues expanding its activities and is now announcing a partnership with Tradenext, an FSA regulated forex broker. tradable recently partnered with CorrSight and Knowsis to provide apps for its AppStore. For more details on the partnership with Tradenext, here is data from the official press release: The first Indian-owned FSA-regulated Forex broker … “tradable extends reach to India – partners with Tradenext”
GBP Strong vs. USD & EUR, Falls vs. JPY
The Great Britain pound rose erased its losses against the dollar after reaching the lowest level since July 2010 yesterday and maintained the gains today. The currency was also strong versus the euro, but stayed weak against the Japanese yen. The United Kingdom’s public sector net borrowing recorded -£11.4 billion in January, the largest surplus in five years. Part of the surplus consisted of the transfers from Bank of England’s asset purchase … “GBP Strong vs. USD & EUR, Falls vs. JPY”
FX Market Returns to Risk-Off Mode, CAD Weakened
The Canadian dollar fell today against its US peer and the Japanese yen as risk appetite came off the markets and crude oil, as well as other commodities, declined. The currency gained on the euro. April futures for crude, the major Canada’s export, slipped to $92.63 per barrel in New York, the lowest price since January 7. The Standard & Poorâs 500 Index went down 0.9 percent. The S&P GSCI Index of 24 commodities … “FX Market Returns to Risk-Off Mode, CAD Weakened”