The Eurozone is looking increasingly Japanese with consistently low GDP growth rates and plummeting inflation levels, which implies the EUR faces upward pressures like JPY once did. Eurozone inflation is running around 0.8% and the region is barely expected to grow 1% a year. In the short-term the main culprit for low growth is austerity … “Eurozone Turning Japanese and What it Means for the EUR”
Month: January 2014
US Dollar Drops on Economic Concerns
Greenback is heading lower today, dropping as economic news softens and results in speculation that the Fed’s taper won’t move forward at a rapid rate. The latest weekly unemployment claims data in the United States shows a slight increase, and that is weighing on the greenback right now. The US dollar is down against its major counterparts as softer economic data is poised to raise questions about the progress of the Federal Reserve taper. … “US Dollar Drops on Economic Concerns”
FxPro wins National Public Champion for Cyprus at the
Cyprus based broker FxPro has been named National Public Champion of Cyprus in the 2013/14 European Business Awards (EBA). The firm was voted out of 375 competitors, and comes as there is fierce competition in the small island nation. The broker aims to win the all’European award. FxPro recently launched SuperTrader – a curated copy trading … “FxPro wins National Public Champion for Cyprus at the”
Thai Baht Drops as Political Crisis Escalates
The Thai baht continues to show tremendous weakness as the political crisis in the country continues to escalate, making investors to take their money away from the country. Thailand’s Prime Minister Yingluck Shinawatra declared a 60-day state of emergency in Bangkok on January 21 to prevent violence that may derail elections scheduled for February 2. The political turmoil makes Thailand a really unattractive country to invest in. Additionally, the crisis may harm country’s economic … “Thai Baht Drops as Political Crisis Escalates”
Aussie Drops After Chinese Manufacturing Report
The Australian dollar dropped today after a report showed an unexpected contraction of the Chinese manufacturing sector. The data made investors worried about growth in the Asian economy and made them less willing to buy riskier assets. The HSBC Flash China Manufacturing Purchasing Managersâ Index fell to 49.6 in January from 50.5 in December. It was the lowest reading in six months. Analysts have expected the gauge to stay unchanged. The news was detrimental … “Aussie Drops After Chinese Manufacturing Report”
Yen Drops as BoJ Maintains Stimulus, Losses Limited
The Japanese yen was weaker today after the Bank of Japan maintained its monetary stimulus at today’s policy meeting. The drop was not particularly big against the US dollar and the yen was trading near the opening level versus the euro and the central bank did not expand stimulus. The BoJ announced today: The Bank of Japan will conduct money market operations so that the monetary base will increase at an annual pace … “Yen Drops as BoJ Maintains Stimulus, Losses Limited”
Will The Dollar Surge In 2014?
Despite the significance it holds on the world stage the Dollar had a dismal 2013 in relation to its peers. In fact the world’s largest currency has broadly been in decline since 2001. Although it has rallied since its record low, the US Dollar has failed to recapture its highs. All this could be set … “Will The Dollar Surge In 2014?”
Forex Meetups going global: 6 cities on February 6th
Forex trading can certainly be a lonely business. Chatting, reading and commenting online helps, but is also limited. FXstreet launched face to face forex meetups around one year ago in Barcelona. They have since reached the major financial centers of New York and London and are now available in 3 additional cities: Sydney, Los Angeles … “Forex Meetups going global: 6 cities on February 6th”
Bank of Canada Sends CAD to New Multi-Year Lows
The Canadian dollar sank today, dropping to new multi-year lows versus the US dollar and the euro, after the central bank maintained its key overnight rate unchanged and signaled that an interest rate cut is possible. The Bank of Canada kept its main interest rate at 1 percent at today’s meeting. As was expected, the tone of the accompanying statement was dovish. The bank said: Inflation in Canada has moved further below the 2 … “Bank of Canada Sends CAD to New Multi-Year Lows”
Euro Continues to Struggle, Even After Debt News
Even though the eurozone debt dropped for the first time in almost six years, and even though a recent poll shows that 57 per cent of investors feel that the worst is over for the eurozone, there are still concerns and the euro is struggling today. In the third quarter of 2013, the level of eurozone government debt fell for the first time in nearly six years. This news, though greeted with some optimism, still … “Euro Continues to Struggle, Even After Debt News”