The euro is getting some help today, thanks to the latest German ZEW data. The latest sentiment data offers a high not since for more than three years, and that is providing support for the euro, even as Forex traders start to shift their focus toward the Federal Reserve meeting in the United States. The latest German ZEW economic sentiment poll headed up to 49.6 for September. This represents a huge jump from … “Euro Gets Help from Improved German ZEW”
Month: September 2013
UK Inflation Report Sends Pound Lower
The latest report on inflation out of the United Kingdom was disappointing, and is weighing on the pound. Without inflation to indicate economic growth and a need for tightening, the Bank of England is likely to continue its asset purchase program for a little while longer. Even though there have been some indications of economic growth for the United Kingdom, the relatively tame inflation rate is preventing the Bank of England from preparing to scale back its asset … “UK Inflation Report Sends Pound Lower”
GOLD: Triangle Pattern Is Pointing Lower
GOLD has turned bearish last week and made a sharp decline towards 1300 with a personality of an impulsive price action; a strong and large move in a short period of time. As such, we believe that the precious metal is in a new bearish period which could bring the price even back to June … “GOLD: Triangle Pattern Is Pointing Lower”
Remarkable come-back by the Indian rupee – will it
The Indian rupee has recovered strongly in the last few weeks which has coincided with the arrival of the new governor of the Reserve Bank of India, Dr. Raghuram Rajan (who started his new job on 4th September 2013) and he has been credited with the 8 per cent rally in the Indian currency against the … “Remarkable come-back by the Indian rupee – will it”
Selecting the best forex provider
With the amount of money involved in the forex industry, it is no surprise that traders these days have a wealth of options open to them when choosing their preferred forex broker. Unlike the stock market, where prices are maintained by a single exchange, forex prices fluctuate on what is known as the ‘interbank’ market … “Selecting the best forex provider”
Dollar Rebounds After Decline
The US dollar slid yesterday, but managed to rebound and advanced today even though Forex traders felt uncertainty about future monetary policy of the US central bank. The news about withdrawal of Treasury Secretary Lawrence Summers from the race for the office of Federal Reserve Chairman shook the Forex market, igniting speculations that monetary policy will remain accommodative for a long time. Negative fundamental reports supported such outlook. The Empire … “Dollar Rebounds After Decline”
Aussie Jumps with Risk Appetite, Loses Gains
The Australian dollar jumped today after investors’ appetite for risk bolstered riskier currencies. Yet the Aussie trimmed gains against the Japanese yen and retreated versus the US dollar as of now. News that Lawrence Summers is no longer a candidate for the office of Federal Reserve Chairman together with less-than-shiny economic data from the United States reduced probability of smaller stimulus. This resulted in optimism and willingness to risk among Forex traders. … “Aussie Jumps with Risk Appetite, Loses Gains”
Won Gains as Summers’ Withdrawal Creates Risk Appetite
The South Korean won advanced today with help of the risk-positive market sentiment. The Forex market shifted to the risk-on mode after Treasury Secretary Lawrence Summers withdrew from the race to the leadership of the Federal Reserve. Summers was considered to be less dovish candidate for the office of Chairman compared to Janet Yellen. After the news of his withdrawal, traders became less certain that the Fed will tighten its monetary policy in the near future. … “Won Gains as Summers’ Withdrawal Creates Risk Appetite”
Euro Heads Higher on Summers Fed Withdrawal
Risk appetite is making an appearance, thanks in large part to the news that Lawrence Summers has withdrawn his name for consideration as the head of the Federal Reserve when Ben Bernanke’s term is up. The news has provided a boost for the euro, even though there are questions about the sustainability of the eurozone’s fledgling recovery. Lawrence Summers made it clear earlier that he does not wish to replace Ben Bernanke … “Euro Heads Higher on Summers Fed Withdrawal”
Geopolitical Issues Give Yen a Boost Against the Dollar
Yen is trading mostly higher today, strengthening against the greenback as geopolitical issues take center stage. With a national holiday closing markets in Japan, there is little that can be done other than look at the wider geopolitical goings-on — and that is providing the yen with a little bit of a boost. There is plenty of uncertainty around the world, and that is giving the yen a boost against the dollar … “Geopolitical Issues Give Yen a Boost Against the Dollar”