The Great Britain pound retreated today against the US dollar and erased previous gains versus the Japanese yen as Britain’s economy expanded last quarter slower than was previously estimated. Month-on-month, gross domestic product rose 0.7 percent in the second quarter of 2013, the same as the preliminary reading, after expanding 0.4 percent in the first quarter. Yet the annual increase was at 1.3 percent, down from the previous estimate of 1.5 percent. … “Pound Retreats as GDP Misses Forecasts”
Month: September 2013
Sterling Jumps with Retail Sales
The Great Britain pound climbed today as retail sales unexpectedly jumped this month, extending the unending stream of positive macroeconomic data from the United Kingdom. The Confederation of British Industry high-street sales balance was at 34 percent in September, on an annual basis, up from 27 in August. Analysts have promised a drop to 24. Barry Williams, Asda Chief Merchandising Officer for Food, and Chair of the CBI Distributive Trades Survey Panel, said: … “Sterling Jumps with Retail Sales”
EUR/USD Gains on German Consumer Climate & US Budget Talks
The euro gained against the US dollar today as the German consumer climate remained positive and as the budget talks in the United States were hurting the greenback. The shared 17-nation currency was flat versus the Japanese yen and weakened against the Great Britain pound. The GfK German Consumer Climate (the indicator which reflects economic expectations of consumers in Germany) rose a little from 7.0 for September to 7.1 for October. The report said: German consumers are expecting … “EUR/USD Gains on German Consumer Climate & US Budget Talks”
Your Forex Success Is Hidden In You
Each day millions of people trade in foreign exchange market. Among this great number of traders there are found ones with high income and those who haven’t yet found the key of trading. If we draw a back glance at the history of Forex trading we’ll see that becoming a successful trader and making much … “Your Forex Success Is Hidden In You”
South Korean Won Falls on Intervention Concerns
The South Korean won weakened today on concerns that the nation’s central bank will intervene to rein the currency’s rally that may hurt the South Korean economy. Bank of Korea Governor Kim Choong Soo signaled that the central bank may act in response to increasing volatility on financial markets. The won was rising after absence of quantitative easing tampering from the US Federal Reserve resulted in risk appetite and higher demand … “South Korean Won Falls on Intervention Concerns”
NZ Dollar Drops as Trade Deficit Swells
The New Zealand dollar dropped today after the trade balance deficit unexpectedly swelled last month, decreasing chances for an interest rate hike from the central bank. The trade deficit widened to NZ$1.2 billion in August up from NZ$771 million in July. Analysts have expected it to stay near the previous value. Traders now bet on 75 basis points interest rate hikes over the next 12 months down from … “NZ Dollar Drops as Trade Deficit Swells”
USD/JPY: Trading the US Pending Home Sales Sep 2013
US Pending Home Sales indicator is released monthly, and provides analysts with a snapshot of the health of the housing sector. A higher reading than the market prediction is bullish for the dollar. Here are all the details, and 5 possible outcomes for USD/JPY. Published on Thursday at 14:00 GMT. Indicator Background Pending Homes Sales is a key … “USD/JPY: Trading the US Pending Home Sales Sep 2013”
FXCM Buys Faros Trading
US based forex broker FXCM buys 50.1% of foreign exchange intelligence company Faros Trading LLC. Faros provides unique research and will add to the capabilities of the publicly traded broker. For more details, see the press release below: NEW YORK–(BUSINESS WIRE)– FXCM Inc. (NYSE:FXCM), a leading online provider of foreign exchange, or FX, trading and … “FXCM Buys Faros Trading”
OANDA buys Currensee
OANDA, one of the largest forex brokers, has bought the first forex social network and copy trading firm Currensee. Both firms put an emphasis on technology. More details are available in the press release below: LONDON – September 24, 2013 – OANDA, a pioneering global provider of innovative foreign exchange trading services and parent company … “OANDA buys Currensee”
US Dollar Unfazed by Poor Domestic Fundamentals
Macroeconomic data from the United States was significantly worse than traders have counted on, but it did not bother the US dollar which was able to profit from the risk-negative sentiment on the Forex market. The Richmond Fed index of manufacturing activity sank from 14 in August to 0 in September. It was a complete (and frustrating) surprise to specialists who have anticipated an increase to 17. The Conference Board Consumer Confidence … “US Dollar Unfazed by Poor Domestic Fundamentals”