The Chinese yuan rose today on the speculation that China’s foreign reserves, which are largest in the world, would support the currency despite the European debt troubles and the tensions among North and South Korea. China continues to show the fast economic growth, supporting the yuan. China’s Manufacturing PMI rose from 54.7 in October to 55.2 in November. The International Monetary Fund estimated that China’s gross domestic product expanded 10.5 percent this … “Yuan Appreciates as China’s Economy Continues to Grow”
Author: admin_mm
French Style QE? Not So Fast
Jean-Claude Trichet’s press conference after the rate decision holds high hopes – according to a hint he made and comments from several market officials, he might introduce a massive quantitative easing program – buying bonds of peripherals Euro-zone countries in hundreds of billions of Euros and lowering their yields. Lower yields will ease the markets and allow … “French Style QE? Not So Fast”
FXCM IPO Successfully Completed – Worth $1 Billion
FXCM was indeed completed late on Wednesday in New York – one FXCM share is was priced at $14, the midpoint between the $13-$15 dollar range. All in all, the US broker raised almost $211 million before expenses. The FXCM stock will begin trading on Wall Street from December 2nd under the obvious symbol FXCM, … “FXCM IPO Successfully Completed – Worth $1 Billion”
Loonie Climbs vs. Greenback as Global Economic Outlook Brightens
The Canadian dollar surged against its US counterpart as the signs of the global economic growth boosted crude oil and increased the appeal of the commodity currencies. The currency slipped versus the euro, which strengthened today against other major currencies. The sentiment across the markets was really positive yesterday. The MSCI World Index gained as much as 2.2 percent. One of the reasons for the optimism was the statement of European Central Bank’s President Jean-Claude Trichet, who … “Loonie Climbs vs. Greenback as Global Economic Outlook Brightens”
Aussie Rebound After Decline as Global Economy Recovers
The Australian dollar rose today against its US counterpart on the signs of the global recovery after it declined previously on the slower Australian economic growth. The euro outperformed the Australian currency. China’s Manufacturing PMI advanced from 54.7 to 55.2 in November, while it was expected to rise marginally to 54.8. The JPMorgan Global Manufacturing PMI rose from 53.7 in October to 53.9 in November, its highest level since July. The Markit Final … “Aussie Rebound After Decline as Global Economy Recovers”
GBP/USD Resistance Works Like a Charm
GBP/USD isn’t one of the most predictable pairs out their. It tends to be quite choppy. Yet in recent trading, there’s one super strong line – 1.5650. It was first tested as a support line in the middle of October, stopping cable’s fall for two straight days. After the Irish crisis intensified and British exposure … “GBP/USD Resistance Works Like a Charm”
Hezbollah / Israel Exchange Warnings on Lebanon Tensions
The situation in Lebanon is still tense towards the expected publication by the Special Tribunal for Lebanon, investigating the murder of former Prime Minister Rafik Hariri. According to one unconfirmed report, it’s expected on Thursday, December 2nd, but other reports say it will happen until the end of the year. In the meantime, Hasan Nasrallah, … “Hezbollah / Israel Exchange Warnings on Lebanon Tensions”
FXCM IPO May Happen Today – Net Income Expected $197
The IPO of FXCM might happen today, December 1st after all. There have been contradictory reports on different news sites – some say it will happen today, and some tomorrow. The latest report by Globesfrom 13:00 GMT today, says that the IPO will happen today, and that FXCM will receive a net income of 197.1 … “FXCM IPO May Happen Today – Net Income Expected $197”
GBP/USD – Impulsive Decline Underway!? Elliot Wave Analysis
Cable fell sharply in the past week when US dollar gained across the board. Price broke through the support channel line connected from 1.5299, September lows which was a key breakout for a change in trend. As such we believe that an impulse structure is unfolding from 1.6300 region with a red wave 3) in … “GBP/USD – Impulsive Decline Underway!? Elliot Wave Analysis”
Gold: A Corrective Pull-back?!
Gold is trading higher for the past few days, but an upward structure from 1329 lows is showing signs of a corrective recovery after the trend changed direction on 9th of November. Important resistance region that traders should pay attention on for a potential reversal from a wave 2 high, is between 1390-1400 zone. We … “Gold: A Corrective Pull-back?!”