Fears of a fresh civil war mount in Lebanon as the indictment of Hezbollah members is nearing. The Special Tribunal for Lebanon (STL) probably has evidence linking senior Hezbollah members to the assassination of former Lebanese Prime Minister Rafik Hariri in 2005. A recent article in Canada’s CBC showed a strong link between the group and the murder. The … “Lebanese Tensions Rise On Upcoming Hezbollah Indictment”
Author: admin_mm
Credit Downgrade for Ireland
S&P downgraded Ireland’s credit to A, following the crisis. As the state takes over the banks’ problems, it’s in higher risk. This was widely expected. Any credit downgrades for Spain or Portugal by any of the the agencies: Fitch, Moody’s or S&P will inflict more damage on the struggling Euro. See more in Alphaville.
North Korea – Situation Stabilized
After the incident in the island of Yeonpyeong, the US committed to safeguard its ally, South Korea. Both China and the US agreed that North Korea’s violence is an unwanted action. There’s still no confirmation or denial from North Korea about the rumored death of Kim Jung Il. The US did however mobilize the U.S.S. … “North Korea – Situation Stabilized”
Dollar Strengthens as US GDP & Manufacturing Expands
The US dollar advanced after the report showed that the US GDP and manufacturing expanded and on concerns for the European debt crisis and the Korean conflict. The preliminary report on the US gross domestic product showed that the US economy grew 2.5 percent in the third quarter of this year. The analysts expected the growth by 2.3 percent. The Manufacturing Activity Index of the Federal Reserve Bank of Richmond rose to 9 in November from October’s reading of 5. The expected value … “Dollar Strengthens as US GDP & Manufacturing Expands”
Euro Slumps as Worries About Debt Crisis Reemerge
The euro experienced the sharp drop today as the optimism about Ireland’s bailout waned and the debt problems in other peripheral economies came to attention. The Irish government announced on the weekend that it would ask for the aid from the International Monetary Fund and the European Union. Now attention are turning also to Portugal and Spain, making one the market participants to wonder how long it’ll take for these countries to follow Greece and Ireland with request … “Euro Slumps as Worries About Debt Crisis Reemerge”
Your Broker Is Not The Enemy
Over the years I have heard so many traders talk about how brokers are out to get their broker is out to get them. They complain about stops being to wide, platforms freezing, and being stopped out when they feel that they shouldn’t have been. These traders then flood message boards and begin to go … “Your Broker Is Not The Enemy”
Spain’s Auction Bond Shows Contagion Signs
Spanish Bond auction today saw yields rising. For three month notes, the rate is 1.743%, higher than 0.951% on October 26th. For 6 month notes the yield was 2.111% instead of 1.285% last time. The 3.25 billion euros raised also fell short of the maximum. See more on Bloomberg. The Irish crisis erupted when investors … “Spain’s Auction Bond Shows Contagion Signs”
GFT DealBook – Separates Multiple Positions
Francesc Riverola reports that GFT announces a new feature – position based trading. Gonçalo Moreira explains that instead of consolidating multiple positions on the same instrument to a single position with an average price, the positions are kept separate, allowing the trader better control. The graphic in the article provides a great explanation. See it … “GFT DealBook – Separates Multiple Positions”
IBFX – Middle East’s Fastest Growing Broker
Michael Greenberg reports that Interbank FX was named the fastest growing broker in the Middle East according to Arabcom’s Middle East Online Trading Awards. IBFX is definitely growing rapidly with branches around the world. It has already been awarded as the fastest growing broker in the US. Full Disclosure: IBFX is an advertiser on this … “IBFX – Middle East’s Fastest Growing Broker”
Malaysian Ringgit Falls as Economic Growth Slows
The Malaysian ringgit dropped today as the report showed the economic growth in Malaysia, as well as in some other Asian countries, slowed. The government report showed that the Malaysian economic growth slowed compared to the 8.9 percent growth in the second quarter. The economies of China and Singapore also expanded with slower pace. The tension between North and South Korea was another reason for the decreasing demand for the Asian currencies. USD/MYR rose from 3.1035 to 3.1170 as of 10:52 … “Malaysian Ringgit Falls as Economic Growth Slows”