The Turkish lira depreciated today after the corruption scandal in the Middle Eastern country made overseas investors reluctant to bring money into the country. The government dismissed 14 police chiefs after several officials and their relatives were detained in an inquiry into graft and corruption. Some politicians tried to lay blame on outside forces that want to damage Turkey’s reputation. Such events create environment that is definitely not healthy … “Turkish Lira Weak amid Corruption Scandal”
Month: December 2013
Euro Struggles to Regain Ground After Credit Rating Downgrade
The European Union experienced a downgrade in its credit rating earlier today. Along with that news, and following on the heels of expectations for a stronger dollar on Fed tapering, it’s little surprise that the euro has been struggling. However, after some earlier losses, the euro has managed to gain some ground. Euro is regaining ground lost earlier as a result of disappointing news. The European Union‘s overall credit rating has been … “Euro Struggles to Regain Ground After Credit Rating Downgrade”
TradeCrowd launches the Contra Copy feature for going against
TradeCrowd, that launched social trading platform in early November, is now introducing new Contra Copy feature: it allows traders to copy trades in the other direction: this makes the contrarian trade much easier. For more details, here is the official press release: LONDON, 11th of December 2013 – TradeCrowd, the producer of its eponymous online … “TradeCrowd launches the Contra Copy feature for going against”
Yen Weakness Continues After BOJ
Yen weakness continues today, thanks in large part to the latest decision from the Bank of Japan. Also affecting the yen’s performance is the fact that there’s a lot of optimism about global economic recovery right now, and that means that the demand for a safe haven like the yen is low. The Bank of Japan decided to maintain its plan to add to the money base each year. The current plan is to add between 60 … “Yen Weakness Continues After BOJ”
This week in the markets: Fed decides to start tapering
By Alex Edwards at UKForex, an international money transfer service. Cable looked fragile at the start of this week, falling to a low of 1.6220 as investors positioned themselves for a possible Fed taper and as UK CPI printed softer than market expectations. CPI in November rose 2.1% from a year earlier, lower than forecasts for … “This week in the markets: Fed decides to start tapering”
Leverate reorganizes management: Doron Cohen is the Chairman of
Leverate, a provider of software solutions for brokers, is making management changes following its strong growth. Doron Cohen is stepping down from co-CEO and will assume the role of Chairman of the Board of Directors. Ran Strauss will continue as the sole CEO and will handle the day-to-day company activities. For more details, here is the … “Leverate reorganizes management: Doron Cohen is the Chairman of”
Monetary policy divergence will guide future price actions of
We have already witnessed a divergence in monetary policy. While the Fed has already reduced its monetary stimulus, the ECB and the BOJ seems more dovish in their approach. The ECB is ready to consider additional monetary policy measures. Thus the divergence in monetary policy among the developed economies is likely to play a critical … “Monetary policy divergence will guide future price actions of”
Canadian Dollar Shows Unexpected Strength
The Canadian dollar was surprisingly strong as it was rising yesterday and continued to rally today even as the Federal Reserve tapering announcement made riskier currencies less attractive to Forex traders. As most other currencies, the loonie dropped against the US dollar on the day when the Fed decided to trim its stimulus program. Some analysts argue that the current rally is nothing more than a short-term correction after the big move … “Canadian Dollar Shows Unexpected Strength”
Dollar Keeps Gains After Tapering
The US dollar maintained gains against most of its major peers today as the Forex market was digesting the Federal Reserve policy announcement. The currency fell against the Japanese yen intraday, but recovered later. The Fed announced yesterday that it is reducing the size of its monthly asset purchases from $85 billion to $75 billion per month. The dollar surged on the news and the rally has not lost momentum still … “Dollar Keeps Gains After Tapering”
Sterling Does Not Give Ground, Retail Sales Help
The Great Britain pound is still resilient, correcting after yesterday’s big rally, but not much. The currency yet again got support from positive domestic economic data that signaled about robust recovery. The sterling was demonstrating healthy performance at the beginning of the current trading session and did not fall far since then. Retail sales helped the currency, showing 0.3 percent growth in November from October. … “Sterling Does Not Give Ground, Retail Sales Help”