The new continue flowing from the large, publicly traded broker FXCM. After publishing that it intends to privately offer $125 million of Convertible Senior Notes, FXCM now announces the pricing of the private offering of $150 million of 2.25% Convertible Senior Notes due 2018. Things are moving fast. More details are in the press release below: … “FXCM Announces Pricing of Private Offering of $150 Million”
Month: May 2013
Ringgit Suffers from Anticipation of Fed’s QE End
The Malaysian ringgit fell today as speculations about an end to US Federal Reserve’s quantitative easing continued to eat away risk appetite, spooking investors from riskier currencies. Last week’s comments of Fed board members suggested that reduction of stimulus is indeed probable. Such possibility was undermining strength of higher-yielding currencies and continued to do so today. Yesterday’s positive data from the United States increased chances for tighter … “Ringgit Suffers from Anticipation of Fed’s QE End”
Bank of Thailand Cuts Interest Rates, Baht Weakens
The Thai baht weakened today after the central bank eased its monetary policy on concerns about slowing economic growth. The Bank of Thailand cut its main interest rate by 0.25 percentage point to 2.5 percent. Such decision was expected by market analysts. The bank voiced worries about economic slowdown: The Thai economy in the first quarter of this year grew less than expected from tepid domestic demand, which … “Bank of Thailand Cuts Interest Rates, Baht Weakens”
EUR/USD: Trading the US Pending Home Sales May 2013
US Pending Home Sales is released every month, and provides analysts with a snapshot of activity in the housing sector. A higher reading than the forecast is bullish for the dollar. Here are all the details, and 5 possible outcomes for EUR/USD. Published on Wednesday at 14:00 GMT. Indicator Background As a home purchase is likely the most expensive purchase a consumer … “EUR/USD: Trading the US Pending Home Sales May 2013”
Yen Declines on Outlook for Continuing Monetary Accommodation
The Japanese yen fell today on outlook for continuing accommodation from the Bank of Japan that will push the currency to the downside. Weaker currency is one of the aims of the central bank that should support economic recovery. BoJ board member Ryuzo Miyao said that the central bank has taken all necessary steps to facilitate economic growth. He noted that the monetary policy will continue to put “downward pressure on rates” … “Yen Declines on Outlook for Continuing Monetary Accommodation”
Canadian Dollar Mixed Ahead of BoC Meeting
The Canadian dollar fell against its US peer today as traders were speculating about an end to Federal Reserve’s quantitative easing. At the same time, the currency was little changed versus the euro and rose against the Japanese yen. The US dollar was firm today, following strong performance against commodity currencies last week. The rally of the greenback resulted in weakness of other currencies. Mark Carney will conduct his last meeting … “Canadian Dollar Mixed Ahead of BoC Meeting”
Market Volatility Prevalent in Japan
The recently volatility surrounding the Nikkei has been match by the yen and its surprising climb prior to the weekend. The rise in yields on the long end of the Japanese curve is creating a headwind for the BOJ. Despite a holiday in the US on Monday (Memorial Day), the Nikkei declined 3.5% only to … “Market Volatility Prevalent in Japan”
Economic Data Supports the US Dollar
Economic data is supporting the US dollar today. With the best economic confidence readings in a long time, some think that the Fed will be forced to reduce its easing efforts sooner rather than later. This is adding fuel to the fire for the US dollar today. The Conference Board is reporting that the consumer confidence index has risen to a five-year high of 76.2. This is a vast improvement over … “Economic Data Supports the US Dollar”
Panda TS Buys Polar IO – Enters Binary Options World
The news from Panda Trading Systems continue pouring in. After announcing that FxPro WebTrader will be powered by Panda Trading Systems, the Israeli software provider now announces that it is acquiring Polar IO Software, Ltd., a software company that specializes in development of front end interfaces for binary options, as well as pricing algorithms for various types … “Panda TS Buys Polar IO – Enters Binary Options World”
Euro Falters Even as Yields Drop
Euro is heading lower today, faltering even as yields in the eurozone drop. With the ECB expected to keep loose monetary policy the norm, it is little surprise that the euro is finding reason to struggle today. Bond yields of debt-ridden eurozone countries are falling today. Spanish and Portuguese bond yields fell as indications that the European Central Bank will continue to support economic recovery and risky assets became … “Euro Falters Even as Yields Drop”