The euro was trading broadly higher against other most-trading currencies today as concerns about the situation in Greece eased after the Greek government talked about a way it is going to handle its international debt. Greek Finance Minister Yanis Varoufakis proposed a plan according to which outstanding debt will be swapped for new growth-linked bonds. This will allow to avoid a debt writedown and reduce risk for creditors. The market … “Greek Finance Minister Talks About Debt Swaps, Euro Rallies”
Month: February 2015
Plenty of Reasons for Canadian Dollar to Rally
The Canadian dollar gained against safe currencies, namely the US dollar and the Japanese yen, today. The currency also trimmed its losses versus the euro though remained below the opening level against the shared 19-nation currency. There were plenty of reasons for the Canadian dollar to rally. The most important of them was the rally of crude oil. Another one was the weakness of the US dollar after a stream of disappointing macroeconomic data from the United … “Plenty of Reasons for Canadian Dollar to Rally”
cMirror – Spotware’s copy-trading platform goes live
Spotware Systems announces the launch of cMirror, that joins its cTrader platform and allows copy trading. Copy-trading is going strong. Here are more details from the official press release: Spotware Systems Ltd is thrilled to announce today that it’s highly anticipated mirror-trading platform “cMirror” has now gone live. For the past year, traders around the world were … “cMirror – Spotware’s copy-trading platform goes live”
USDJPY: Recovers, Eyes More Strength
USDJPY: With USDJPY bouncing off lower level prices to strengthen on Tuesday, it now faces further upside pressure. However, the pair will have to break and hold above the 118.86 level to prevent a return to the downside. On the downside, support comes in at the 117.00 level where a break will target the 116.50 … “USDJPY: Recovers, Eyes More Strength”
Great Britain Pound Bounces as UK Construction PMI Rises
The Great Britain pound gained against the US dollar and erased previous losses versus the Japanese yen today. The currency gained ground after a report showed that growth of the UK construction sector accelerated last month unexpectedly. The Markit/CIPS UK Construction Purchasing Managersâ Index rose from 57.6 in December to 59.1 in January. It was a surprise considering that analysts promised a drop to 56.9. Unlike yesterday, the sterling is able … “Great Britain Pound Bounces as UK Construction PMI Rises”
New Zealand Dollar Sinks After RBA Decision
The New Zealand dollar sank today after the surprise interest rate cut from the Reserve Bank of Australia. The announcement led to talks that the central bank of New Zealand may follow suit. The unexpected decision of the RBA made economists speculate about possible monetary easing from the Reserve Bank of New Zealand, which changed its tune to the dovish one. Traders watch will employment data that will be released … “New Zealand Dollar Sinks After RBA Decision”
US Dollar Drops After Disappointing Data
Concerns that the United States might be seeing a slowdown in its economic growth are weighing on the greenback today. Recent economic data has been softer than expected, and that is bringing the dollar lower in Forex trading. On Friday, a report indicated that economic growth in the United States slowed to 2.6 per cent in the fourth quarter of 2014. This had already set the stage for a slightly lower greenback when yesterday’s … “US Dollar Drops After Disappointing Data”
GBP/USD: 1.38 is the new target; staying short – Morgan
Cable continues battling the 1.50 line amid speculation about the timing of the next move by the Bank of England. Mark Carney and co. are meeting soon, but no change is expected anytime soon. The team at Morgan Stanley stays short and revises the target down to 1.38: Here is their view, courtesy of eFXnews: Morgan Stanley’s … “GBP/USD: 1.38 is the new target; staying short – Morgan”
Aussie Tanks on RBA Cut
Australian dollar is heading much lower today, dropping across the board following a rate cut from the Reserve Bank of Australia. Concerns about economic growth are weighing on policymakers, and they feel that this is the best move they can make to help spur the economy forward. Monday night the Reserve Bank of Australia said that it is cutting its benchmark rate from 2.50 per cent … “Aussie Tanks on RBA Cut”
Sterling Unable to Keep Gains
The Great Britain pound attempted to rally today as the manufacturing Purchasing Managers’ Index rose but the currency was unable to hold onto gains and retreated below the opening level as of now. The Markit/CIPS UK Manufacturing PMI ticked up from 52.7 in December to 53.0 in January, a bit higher than analysts expected. The sterling climbed to 177.69 against the Japanese yen after the report but was unable to maintain the rally. The sterling was in a consolidation … “Sterling Unable to Keep Gains”