The euro, along with the Swiss franc (which is tied to the shared 18-nation currency due to the ceiling introduced by the Swiss National Bank), was the weakest major currency on the Forex market this week. Persisting speculations about monetary easing from the European Central Bank in June continued to erode the strength of the currency. The euro dropped last week after the ECB suggested a possibility of additional economic stimulus next month, and it was expected … “Second Week of Losses for Euro due to ECB Speculations”
Month: May 2014
NZ Dollar Loses Shine Despite Favorable Fundamentals
The New Zealand dollar lost its previous strength, falling yesterday and extending its decline today. Domestic fundamentals still look very favorable for the currency, and this means that reasons for the drop should be found outside of the country. The most likely reason for the drop is the general risk-negative sentiment on the Forex market. Traders were in a pessimistic mood as news from Europe were poor, and this, coupled with signs of economic slowdown … “NZ Dollar Loses Shine Despite Favorable Fundamentals”
Euro Heads for Another Weekly Loss
The euro dropped today as investors were fleeing bonds of Europe’s peripheral economies, adding to pressure on the European Central Bank to stimulate the struggling economy. The currency was heading for a second weekly loss versus the US dollar and the Japanese yen, and it will be the third week of decline against the Great Britain pound. Securities of such countries as Greece and Portugal were losing value as investors had lack of confidence in the countries’ economic performance. The surplus … “Euro Heads for Another Weekly Loss”
CitiFX TradeStream and ForexInnovation collaborate on Institutional MT4 Algo-trading
CitiFX TradeStream and ForexInnovation announced their partnership for the automated MT4 trading solutions via a CitiFX Margin Trading account. More details are available here via the press release: CitiFX TradeStream provides traders with access to high-quality aggregated liquidity, sourced from multiple top-tier providers including Citi, with the benefit of having Citi as the trade counterparty. … “CitiFX TradeStream and ForexInnovation collaborate on Institutional MT4 Algo-trading”
UK Pound Continues to Show Strength
UK pound continues to show strength today, following up on yesterday’s rebound. Sterling is gaining particularly against the euro, although it is higher against other major currencies as well. The United Kingdom is emerging as one of the stronger of the major economies, and that is helping the UK pound right now. Sterling is up against most of its major counterparts, gaining ground as disappoints appear on every side. One … “UK Pound Continues to Show Strength”
Dollar Index Continues to Climb as Risk Aversion Rises
The dollar index continues to climb, remaining above the 80.0000 level, as risk aversion continues to be the story. In many cases, dollar strength is mostly due to the weakness of currencies like the euro and the Canadian dollar — even though the dollar is down against other individual currencies like the yen. Right now, the US dollar index is on the rise, and a lot of that increase is coming from euro weakness. The dollar index is … “Dollar Index Continues to Climb as Risk Aversion Rises”
Yuan Drops, Intervention Suspected
The Chinese yuan slid today, heading to a weekly loss, on speculations that the central bank intervened to prevent appreciation of the currency as a measure to help local exporters. Analysts think that this week’s drop is a result of an intervention from Chinese policy makers, who prefer the yuan to be weak. Chinese officials denied the intervention, saying that the currency’s moves were in accordance with balance of supply and demand. The People’s Bank of China increased … “Yuan Drops, Intervention Suspected”
Hopes for Reforms from New Government Boost Indian Rupee
The optimism about the election results in India continued to support the rupee, making the currency rally today. The currency has risen 2 percent over the week, demonstrating the biggest advance since September. The results of the vote will be announced today, but for now all the signs show that the opposition Bharatiya Janata Party should have a landslide victory. The index of local shared jumped 5.2 percent, the biggest gain in five years, to the all-time … “Hopes for Reforms from New Government Boost Indian Rupee”
AUDNZD Dips Remain Attractive To Buyers
Technical Bias: Bullish Key Takeaways • Australian dollar remains elevated against the New Zealand dollar. • Possible inverse head and shoulders formation might the AUDNZD pair higher. • USDJPY support at 1.0800, and resistance at 1.0870. Australian dollar after failing around the 1.0880 resistance zone has moved lower against the New Zealand dollar. However, the … “AUDNZD Dips Remain Attractive To Buyers”
Risk Appetite Wanes, Demand for Yen Grows
The Japanese yen rallied today against all other major currencies as various concerns put the Forex market in a risk-off mode, meaning that traders preferred safer currencies. Economic data from Japan also helped to buoy the attractiveness of the currency. News from Europe was mostly disappointing, reminding investors that Europe has plenty of troubles and it has hard time getting rid of them. While US data was … “Risk Appetite Wanes, Demand for Yen Grows”