The pound retreated from the round 1.60 area on a weak current account figure. The deficit was almost double the early expectations, and hit 9.4 billion. A deficit of 5 billion pounds was predicted. Also the deficit for Q4 was revised to the downside, from 10.5 to 13 billion. British GDP came out at as … “GBP/USD Lower on Weak Current Account”
Category: Forex Bits
TransferUnion Getting Closer With Guaranteed Greek Bonds
Will Greece issue AAA bonds? This is a possibility discussed now. Greek bonds may carry a European Investment Bank guarantee, possibly giving it the perfect rating. With rich countries directly guaranteeing Greek bonds, there is no other way to look at it but as a TransferUnion that Germans are wary of. The current schemes for … “TransferUnion Getting Closer With Guaranteed Greek Bonds”
New Greek Plan Already Has Holes?
Greek newspapers report that 3.8 billion euros are “missing” from the new Greek austerity plan. This was reported by Greek newspapers, quoted by a Greek LSE student, Matina Stevis, and is now weighing heavily on the euro. It’s probably an error on the revenue side. Is this plan too optimistic once again. The newly appointed … “New Greek Plan Already Has Holes?”
Bankers & Fools
After a tense week with world markets teetering on the edge of collapse Angela Merkle finally met with her French counterpart Nicholas Sarkozy and they ended the seventh month chill in their once cozy relationship. According to The Independent, they faced a serious impasse regarding bank haircuts in the “déjà vu all over again” Greek financial … “Bankers & Fools”
Will Merkel and Sarkozy Boost the Euro?
German chancellor Angela Merkel and French president Nicolas Sarkozy are meeting to discuss the situation in Greece and might come to some compromise regarding the participation of the private sector. The euro is currently rising on hope for some kind of solution. A positive statement can boost the euro and provide a better ending after … “Will Merkel and Sarkozy Boost the Euro?”
A Quick Glimpse at Forex
What is forex? Yes, the answer is long, but here’s a chance to get quick explanations and many interesting figures in one graphic image. CMS Forex has made a nice infographic explaining it. While it doesn’t and can’t provide the full picture, it looks great. CMS Forex, that was acquired by Gain a few months … “A Quick Glimpse at Forex”
Trichet Softens His Tone on a Possibility that A Country
The head of the ECB, Jean-Claude Trichet, begins understanding that things have changed. Contrary to his words less than three weeks ago, he now hints that some countries could leave the euro. On May 27th, Trichet totally ruled this out. He gave an interview and said that it is entirely realistic for a country to … “Trichet Softens His Tone on a Possibility that A Country”
FXCM Sees Higher Volume, More Trades in May
US based forex broker FXCM published key metrics for the month of May. Most components show nice rises from April 2011 and from May 2011. This includes volume of trades, number of trades and also the number of tradeable accounts. The only metric that is slightly lower is the number of active accounts. The action … “FXCM Sees Higher Volume, More Trades in May”
James Chen Appointed as Director of Technical Research and
If you haven’t heard already, James Chen has been appointed as the director of technical research and education at FXDD. Chen is a highly regarded analyst and educator, which I am always happy to recommend and link to. Chen previously worked at FX Solutions, and publishes his analysis also on his site FXPath. He is … “James Chen Appointed as Director of Technical Research and”
Never Risk More Than 2% of Your Account At Once
The tip in the headline is my contribution to a great project by FXStreet in which experts share their tips. For newbies, it is important to have enough breathing space to learn before they burn out their account. In the article published here, I elaborate on this matter. I am honored to participate in this … “Never Risk More Than 2% of Your Account At Once”