Japan’s forex brokers report a drop of 35% in currency forex trading volumes between July and August, when 50:1 leverage limit was introduced. Oz Golan writes on Michael Greenberg’s site about the phenomenon and says that it may have an effect only for a short time, as traders will be more profitable due to lower … “Japanese Forex Volume Falls”
Author: admin_mm
Euro Slips on Disagreement Between EU Policy Makers
The euro slid today as the European policy makers were divided on today’s meeting in their opinion on how to deal with the Eurozone sovereign-debt crisis. The official of the European Union met today in Brussels to discuss the possible ways out of the debt crisis. Didier Reynders, the Belgian Minister of Finance, whose country holds the EU presidency until the end of this year, proposed to increase the â¬750 billion ($1 trillion) bailout fund. Angela Merkel, the Chancellor … “Euro Slips on Disagreement Between EU Policy Makers”
Outlook for Interest Rates Weakens New Zealand Dollar
The New Zealand dollar slipped today on the speculation that the New Zealand policy makers would refrain from increasing the interest rates because of the slower economic growth. The New Zealand budget deficit was NZ$7.45 billion ($5.7 billion) in the four months ended October 31st. That’s NZ$798 million more than was predicted in May. The deficit together with the slower household consumption and business borrowing decreases the possibility of the interest rates … “Outlook for Interest Rates Weakens New Zealand Dollar”
Spanish Yields On the Rise
Yields on 10 year government bonds are on the rise again. They rose to 5.11% after falling on Friday under 5%. Spain’s bonds serve as a good gauge for investor confidence in the continent. While Portugal hasn’t been “saved” yet, the EU / IMF fund still has money to handle Portugal. Spain is already too … “Spanish Yields On the Rise”
Spain Under Pressure
Spain is trying to calm the markets and convince investors that its economy is still attractive in the long term. Indeed, Spanish bond yields have dropped from the highs seen, but that’s thank to external intervention from the ECB. Jean-Claude Trichet bought bonds from Ireland and Portugal and that eased the pressure on Spanish bonds … “Spain Under Pressure”
Irish Pound Comeback?
Ireland may eventually leave the Euro-zone, abandon the Euro currency. That’s what chief executive in PIMCO, Mohamed A El-Erian thinks. Will the Irish pound, IR£, the currency Ireland had before the Euro, make a comeback? In an interview on CNBC, quoted by the Irish Times, El-Erian said that bailouts for Portugal and Spain are imminent, … “Irish Pound Comeback?”
Foreclosure Freeze Extended
The mortgage mess isn’t in the headlines, but it still with us. The big banks are still trying to sort out the paperwork, and now they leverage the holiday season to extend the foreclosure freeze. So, now it’s a seasonal thing. But if the foreclosure freeze lasts beyond mid-January, after the holidays are over, the … “Foreclosure Freeze Extended”
Elliott Wave: S&P Gains Means More Upside For AUD/USD
Uptrend on Aud/Usd shown from 0.8065 May lows is unfinished since the pair formed only a three wave A)-B)-C) decline from the most recent 1.0181 highs. As such, we believe that this retrace was only a temporary pull-back, probably a corrective blue wave (4) which is part of an impulse structure. On our daily chart … “Elliott Wave: S&P Gains Means More Upside For AUD/USD”
Belgian Bailout?
Didier Reynders, Belgium finance minister, said that enlarging the European aid fund from the current 750 billion euros is possible. He also mentioned that the IMF, that participates in the fund, also supports enlarging it. The consensus is that the fund is sufficient for bailing out Portugal, but won’t be sufficient for a Spanish bailout. … “Belgian Bailout?”
Dollar Falls This Week as Concerns for US Economy Return
The gains of the US dollar at the beginning of this week were outweighed by the losses in the second half as the poor employment data raised the concerns for the US economy and damped the demand for the US currency. At the start of the week the dollar was still supported by the demand for the safe haven, caused by the troubles in Europe and the Korean conflict. Later the greenback was weakened as the demand for the safety was diminished by the hopes that the meeting of the European Central Bank’s policy makers would provide some … “Dollar Falls This Week as Concerns for US Economy Return”