Unlike most readers of this periodical I’m not a huge Twitter person. In other words I rarely check Twitter or am constantly on it to insure that I’m not missing out on anything. Yesterday I was perusing some of my tweets and found an interesting story published by Bloomberg on the prospect of a BRICS … “Ramifications of a BRICS World Bank”
Month: March 2013
About Slovenia and the Debt Crisis
Following the crisis in Cyprus, there was fresh talk about a bailout for Slovenia, and not for the first time. The crisis in Cyprus already tripled the country’s borrowing costs and could shut its market access. On the other hand, Slovenia’s story is more similar to Ireland than to Cyprus, for good and for bad. … “About Slovenia and the Debt Crisis”
Euro Ends Hard Week with Losses
The euro was trying resisting the forces that were pulling it down, but was largely unsuccessful, falling against other major currencies. This was not a straight move down though and the week ended on a bright note. As it was predicted, the week was not an easy one for traders. The euro was up one day and down the very next. Yet not everything was completely bad as the general direction … “Euro Ends Hard Week with Losses”
Won Retreats as Tension Between Koreas Rises, Recovers from Losses
The South Korean won fell today as tension between the country and North Korea are rising. The poor domestic fundamentals did not help the currency either. Yet it has managed to erase its losses as of now Animosity between South Korea and its northern neighbor was rising after North Korea performed a test of nuclear device last month. Meanwhile, the communist state said that military drills performed by South … “Won Retreats as Tension Between Koreas Rises, Recovers from Losses”
Yuan Rises with Help of PBoC
The Chinese yuan advanced today as the People’s Bank of China raised its reference rate, allowing the currency to rise. Positive expectations for macroeconomic data from the country also helped the currency. The PBoC set the daily fixing 0.08 percent higher to 6.2689 per dollar, the strongest level since May. According to analysts’ estimates, China’s manufacturing Purchasing Managers’ Index rose from 50.1 in February to 51.6 in March. The official data will be … “Yuan Rises with Help of PBoC”
US Dollar Ready to End the Week on a High Note
US dollar is set to end the week on a high note, thanks to better data out of the United States, combined with safe haven demand. Volume is relatively low, though, thanks to the fact that many markets are closed for Good Friday ahead of the Easter holiday on Sunday. US dollar is higher today, thanks to a combination of solid economic data out of the United States, as well as a desire for safe haven. The dollar … “US Dollar Ready to End the Week on a High Note”
cTrader Launches Open API
Spotware Systems, the company behind cTrader and cAlgo, announced an open API called Spotware Connect. Third party developers can now connect and build their own cTrader systems. The company’s founders recently won an award from FXstreet: people of the year. Here are more details about the API from the press release: Spotware Systems, developers of … “cTrader Launches Open API”
BOJ: Expect only a small change in the first meeting
For traders of the Japanese yen, the first BOJ meeting under the new leadership is a huge event, as expectations are very high. However, the BOJ may announce only a limited policy change at first, before making a bigger move., as Christopher Vecchio of DailyFX explains in detail. In the interview below, Vecchio also addresses the … “BOJ: Expect only a small change in the first meeting”
UK Pound Steady as Long Weekend Begins
While the FX market doesn’t close for holidays, equity markets in the United States and Europe are closed for Good Friday, and that is affecting volume. UK pound is mostly steady against its major counterparts as traders assess the situation from the last two weeks and get set for a new week and a new month. UK pound is mostly steady right now as Forex traders review the events of the past couple of weeks, … “UK Pound Steady as Long Weekend Begins”
Yen Submits to Concerns About Inflation
The Japanese yen has succumbed to concerns about the expected intervention from the Bank of Japan, falling against other most-traded currencies (though rising against the US dollar) after fear came off the Forex market. It is not a surprise that the yen retreated as traders have less fear about Cyprus. They do not feel need for the safety of the currency in such conditions. And the pledge of BoJ Governor Haruhiko Kuroda to reach … “Yen Submits to Concerns About Inflation”