The US dollar rose today against most of its major counterparts on the concerns that the financial crisis may spread across the Eurozone and as the macroeconomic reports signaled that the economic recovery in the US persists. The industrial production in the US increased 0.4 percent in November after the decline of 0.2 percent in October. The Consumer Prices Index rose 0.1 percent in November, following the 0.2 percent growth in October. The Dollar Index, which tracks the performance of the greenback … “Dollar Strengthens on European Crisis & Favorable Fundamentals”
Author: admin_mm
Swiss Franc Gains vs. Euro on Debt Concerns, Declines vs. Dollar
The Swiss franc rose against the euro today as the concerns for about the European debt crisis increased the demand for the currency as the safe haven, but dropped versus the US dollar as the yesterday’s reports signaled about the stronger economic growth in the US. The concerns about the state of the Eurozone economy remain in place and strengthened on the prospect of the downgrade of Spain’s credit rating. The dollar was weakened by the expectations of the increase of the Federal Reserve’s bonds purchasing program, but the Fed didn’t … “Swiss Franc Gains vs. Euro on Debt Concerns, Declines vs. Dollar”
Gain IPO At $9 Per Share – 35% Lower Than Midpoint
The IPO of Gain Capital was priced at $9 per share – significantly lower than the $13 to $15 price range expected, so it’s around 35% lower than the $14 midpoint. Gain Capital, which holds the lucrative forex.com domain name, sold only around 407,000 shares in the IPO, with the rest of the 9 million … “Gain IPO At $9 Per Share – 35% Lower Than Midpoint”
Euro Falls as Moody’s May Downgrade Spain’s Credit Rating
The euro dropped today after the Moodyâs Investors Service said that Spainâs debt rating is reviewed for the possible downgrade, renewing the concerns about the spreading of the sovereign-debt contagion across the Eurozone. The Moody’s said that it may downgrade the credit rating because of Spain’s “vulnerability to funding stress”. The leaders of the European Union will meet at the two-day summit in Brussels tomorrow to discuss the permanent system to prevent the fiscal crises. The German Chancellor Angela … “Euro Falls as Moody’s May Downgrade Spain’s Credit Rating”
Gain IPO Only to Cover Expenses?
Fresh reports about the initial public offering of Gain point to a very modest IPO – the company is expected to sell only around 400K of shares, not 11 million as reported earlier. At midpoint, $14 a share, Gain Capital Holding will only raise $5 million – just covering the expenses of the IPO, led … “Gain IPO Only to Cover Expenses?”
Iran Blast Kills Dozens
A blast in a Shiite mosque in Chabaharin southern Iran kills dozens of people. The city is close to the border with Pakistan. The bombing happened early in the morning. 5 months ago, a blast in the city of Zahedan killed 22 people. In many cases, the Baluchian insurgency, wanting independence, took responsibility for the bombing. Iran has … “Iran Blast Kills Dozens”
Canada’s Currency Strengthens on Good Fundamentals
The Canadian dollar rose today on the good fundamentals in Canada and the US, the nation’s largest trading partner, and as the prices for crude oil, the biggest Canadian export, pared losses. Canada’s leading index rose 0.3 percent in November, the same as in October. The seasonally adjusted US Producer Price Index rose 0.8 percent in November. This increase followed the 0.4 percent advance in both October and September. The retail sales in the US posted the increase by 0.8 percent … “Canada’s Currency Strengthens on Good Fundamentals”
Aussie Reaches Parity with Greenback on China’s Interest Rates
The Australian dollar jumped, reaching parity with the US currency, today as China refrained from increasing its interest rates, boosting the commodities and the stocks and increasing the attractiveness of the currency. China was expected to increase the interest rates after the inflation reached 5.1 percent in November. The requirement for the banks to increase their reserves further fueled to the expectation of the interest rates hike. The unexpected decision to hold the rates shook the markets and they still are trying … “Aussie Reaches Parity with Greenback on China’s Interest Rates”
Askobid and Currensee Partner in Europe
Currensee, the forex social network, expands its presence in Europe with a significant partnership with Askobid – a fast growing European broker. Askobid will allow its clients to join Currensee’s trade leader program – enabling following of trade leaders and automatically executing trades. Askobid is based in Cyprus and has clients in Europe and also in Asia. … “Askobid and Currensee Partner in Europe”
Dollar Falls on Talks About Additional Bonds Buying
The US dollar slid today after the Federal Reserve signaled that it may extend its bonds purchasing program and on concerns that the US economic recovery may stall. The currency regained some strength after the favorable macroeconomic reports. The Federal Reserve Chairman Ben S. Bernanke voiced his concerns that the recovery may not be self-sustaining and the additional stimulus may be required to support the economy. These words … “Dollar Falls on Talks About Additional Bonds Buying”