Capital controls and expropriation of depositor funds is normally associated with developing countries, but actually it’s happening within the world’s second most important currency, the Euro. By comparison USD looks like a haven of stability, which could see it firming for much of this year. Though Cyprus is taking its bitter EUR 10 billion bailout … “USD looks like an island of stability”
Month: March 2013
US Dollar Index Slightly Lower in Choppy Trading
US dollar index is slightly lower today as choppy trading is the norm. Many currencies are trading mixed right now, and that includes the greenback. With concerns about the eurozone, and with speculation about continued currency wars some countries attempt to stimulate their economies, there is some thought that the dollar will show relative strength overall. Right now, there is enough risk appetite … “US Dollar Index Slightly Lower in Choppy Trading”
CBI Retail Sales Weaken Pound, Glimmer of Hope Remains
The Great Britain pound dipped today after the CBI retail sales report showed that trading volumes were flat in March, while traders have hoped for growing sales. The currency was able to hold ground against the Japanese yen as the report was not completely negative. Confederation of British Industry released its Distributive Trades Survey, which showed that the index stood at 0 in March, meaning that trading volumes … “CBI Retail Sales Weaken Pound, Glimmer of Hope Remains”
Andrey Pavlov and Ilya Holeu Named People of the Year
FXstreet completed the Best of list by naming Andrey Pavlov and Ilya Holeu, founders of Spotware Systems as people of the year. The company provides the innovative cTrader platform. Pavlov and Holeu were nominated alongside 3 other forex personas. What’s next for them? Here is a quote from the original publication: If 2012 proved to be a … “Andrey Pavlov and Ilya Holeu Named People of the Year”
OANDA Reveals Powerful, Stylish Trading Application
Forex broker OANDA has launched a new significant version of its trading mobile application. The new version, available for Android, iPhone and iPad, includes a totally new charting engine, which shows changes to charts on the fly. The charts never leave the screen. OANDA iPad app – click image to enlarge While some users would … “OANDA Reveals Powerful, Stylish Trading Application”
Aussie Keeps Gains Ahead of Stevens’ Speech
The Australian dollar was little changed today after yesterday’s gains as traders wait for the scheduled speech of Reserve Bank of Australia Governor Glen Stevens. Market participants hope that Stevens’ comments will hint on future monetary policy of the central bank. Investors reduced their bets that the RBA will cut interest rates in the near future. The recent macroeconomic data, especially surprisingly good employment figures, does not push … “Aussie Keeps Gains Ahead of Stevens’ Speech”
Euro: Hard Week Ahead for Forex Traders
Forex market participants had hard time trading last week and it is not likely that this week will be in any way better. Uncertainty and confusion created by the situation in Cyprus leads to volatile and unpredictable moves. Unsurprisingly, the euro is one of the hardest currencies to trade right now. Cyprus will likely remain in the forefront of the news during the current week. An agreement was reached about rescuing the country, but … “Euro: Hard Week Ahead for Forex Traders”
Canadian Dollar Advances with Oil on Aid for Cyprus, Loses Gains
The Canadian dollar advanced today as crude oil gained amid the positive market sentiment caused by the bailout deal for Cyprus. The currency trimmed its gains and fell against the yen as optimism was slowly going away from the Forex market. Futures for crude oil went up 0.7 percent to $94.40 per barrel after reaching $95.65, the highest level since February 20. Other markets also felt optimism, boosting risk-related … “Canadian Dollar Advances with Oil on Aid for Cyprus, Loses Gains”
The Cypriot bail-in model is not necessarily a one-off –
Up to now, Cyprus was defined a “special case” and that justified taxing bank depositors. A fresh comment from the head of the Eurogroup shows that this model could be copied elsewhere. His comment hurt some bank stocks across Europe and also hurt the euro a bit further. Is the Cypriot situation snowballing? Update: EUR/USD … “The Cypriot bail-in model is not necessarily a one-off –”
Yen Higher Now, But First BOJ Meeting Featuring Kuroda is Ahead
Japanese yen is higher across the board today, gaining as Forex traders turn to safe haven in the wake of second thoughts about the Cyprus bailout deal. However, the ability of the yen to sustain its gains is in doubt. The first BOJ meeting with Haruhiko Kuroda is coming up, and many are waiting to see what he delivers. Earlier today, the last-minute Cyprus bailout deal caused a bit of a stir and boosted riskier … “Yen Higher Now, But First BOJ Meeting Featuring Kuroda is Ahead”