The Indian rupee declined today against the US dollar, which was supported by speculations about tighter monetary policy. Fundamentals were not bad for the Indian currency, though, and may yet alleviate the pressure on the rupee. The Dollar Index ended its two-day loss today, pushing other currencies down. Economists say that capital inflows into India remain strong and may help the currency to pare losses. The Indian government is … “Indian Rupee Drops, Fundamentals Remain Positive”
Month: May 2013
Baht Weakens Ahead of Policy Meeting
The Thai baht fell today, ahead of tomorrow’s central bank meeting, as persisting speculations about reduction of stimulus by the US Federal Reserve continued to undermine strength of riskier currencies. The Bank of Thailand will conduct its monetary policy meeting tomorrow. Analysts think that an interest rate cut is probable. Meanwhile, the Dollar Index advanced 0.2 percent to 83.865 as the greenback continued to rally, weakening other currencies. USD/THB advanced 0.54 … “Baht Weakens Ahead of Policy Meeting”
FXCM Intends to Privately Offer $125 Million of Convertible
US based Forex Broker FXCM announces that if market conditions (and other conditions) allow, it will offer $125 million in convertible senior notes, that are due in 2018. The money will be used for general corporate purposes and future acquisitions, among other uses. FXCM recently reported a record in revenue during Q1. For more on … “FXCM Intends to Privately Offer $125 Million of Convertible”
Gold Is Sideways, But Still Bearish Within Larger Trend
Gold prices found some support last week and reversed back to the base channel line once again. This could react as resistance in the current black wave 4 which is now making a more complex wave structure than we firstly thought. We can see that price is slow, sideways, choppy and more importantly the recovery … “Gold Is Sideways, But Still Bearish Within Larger Trend”
Bank of Israel Surprises Again, Shekel Weakens
The Bank of Israel surprised Forex market participants for the second time this month, cutting interest rates yet again on today’s meeting. The Israeli new shekel weakened after the decision. The BoI cut its main interest rate by 0.25 percentage point to 1.25 percent today, following the unexpected rate cut on May 13. The bank commented on the decision: The decision to reduce the interest rate for June 2013 by 0.25 percentage points, to 1.25 percent, … “Bank of Israel Surprises Again, Shekel Weakens”
FxPro WebTrader Will Be Powered by Panda Trading Systems
Panda Trading Systems, a provider of online trading software systems, will power the brand new MetaTrader 4 trading platform launched by FxPro. When FxPro announced the closing of the Australian offices, it talked about focusing on new products, and we now get one of the fruits. For more details, here is the press release: Panda … “FxPro WebTrader Will Be Powered by Panda Trading Systems”
Morning Commentary- May 27, 2013
With the U.K. and United States both observing bank holiday’s today, volumes will most likely be light and therefore could make for some interesting trading patterns and volatility. Data flow has been almost non-existent, although the overnight session did kick off with the release of the minutes from the Bank of Japan’s (BoJ) latest monetary … “Morning Commentary- May 27, 2013”
ACTIV Financial Market Data Integrated into PFSOFT
PFSOFT, which provides trading software platforms, has completed an integration with ACTIV Financial. PFSOFT will now offer data from ACTIV on the Protrader platform. This expansion joins the recent announcement from PFSOFT: it offers Alpari UK’s Liquidity. For more on the integration with ACTIV, here is the official press release: New York, NY – May XX, … “ACTIV Financial Market Data Integrated into PFSOFT”
USD/JPY: Trading the US CB Consumer Index May 2013
US CB (Conference Board) Consumer Confidence Index is based on a monthly survey of about 5,000 households regarding their opinion of the economy. Its release often has a strong impact on market prices. A higher reading than the market forecast is bullish for the dollar. Here are all the details, and 5 possible outcomes for USD/JPY. Published … “USD/JPY: Trading the US CB Consumer Index May 2013”
Won Gains as Exporters Sell Dollars
The South Korean won gained today as local exporters were selling dollar, while signs of economic growth attracted overseas investors to South Korean assets. Last week, the won has dropped to the lowest level since April 12, spurring exporters to convert their earnings to the local currency and profit from the favorable exchange rate. The Composite Consumer Sentiment Index rose from 102 in April to 104 in May, suggesting that the South … “Won Gains as Exporters Sell Dollars”