The Feedburner counter passed the 3000 mark for the first time – 3000 regular regular readers, with slightly more than half of them using email. You’re welcome to follow regular updates via Email or RSS. A new design of the site is in the works and will hopefully be ready before the end of the … “3000 Readers in Forex Crunch”
Category: Forex Bits
Fundamental Overview – Market Movers 11/29/2010
The greenback continued to show a lot of strength, making nice gains against the vast majority of major currencies last week,Only the New Zealand Dollar made a nice +0.6 percent gain versus the green note. The past week’s talk of defaults from Irish banks continued to some extent last week as the Irish financial crisis … “Fundamental Overview – Market Movers 11/29/2010”
AUD/USD Parity only 80 Pips Away
The Australian dollar exploded on the bad employment data from the US and made 200 today. Just before markets close, AUD/USD is at 0.9920, after already reaching 0.9940. 0.9915 is a minor line of resistance. Closing above this line will open the road for AUD/USD parity early next week. The Aussie suffered from weak GDP … “AUD/USD Parity only 80 Pips Away”
Retail Forex Industry – $200 Billion / Day
According to recent research by LeapRate, online financial trading is growing very quickly. The report shows that $200 billion exchange hands in daily trade forex. Francesc Riverola emphasizes that this is a tremendous growth of 2000% over the past 10 years, when the retail market was only at $10 billion a day. Very impressive indeed!
GBP/USD Struggles With Resistance After Services PMI
The purchasing managers’ index for the services sector came out within expectations – 53 points. This helped cable move forward, but it’s still struggling with the mighty 1.5650 line, that capped it throughout the week. The British pound has been enjoying the improvement in Europe – the hopes of a real resolution to the debt … “GBP/USD Struggles With Resistance After Services PMI”
Gain Capital IPO Scheduled for week of December 13
The second IPO of a forex broker is due in about two weeks. Gain Capital, which holds the lucrative domain name forex.com, will make its initial public offering on the week of December 13th. Renaissance Capital, Greenwich, CT (www.renaissancecapital.com) reports that the stock price will range from $13 to $15. It’s amazingly the same target … “Gain Capital IPO Scheduled for week of December 13”
FXCM IPO Indeed Successful – Shares Trade at High End
The FXCM stock now trades in the New York Stock Exchange at around $15 per share. The initial IPO aimed at a price of between $13 to $15 and the IPO closed at $14 – at the midpoint. Indeed, the IPOs handled by Credit Suisse were successful, with the price of shares being above IPO … “FXCM IPO Indeed Successful – Shares Trade at High End”
Jobless Claims Disappoint This Time
US unemployment claims had a setback, jumping to 436K – within the previous 430K-500K range. The market expected 425K. It’s also a big jump in comparison to last week’s outstanding 407K figure. The moving average for four weeks is still improving. We should still get a good result in the Non-Farm Payrolls tomorrow. Now the … “Jobless Claims Disappoint This Time”
Spanish Yields Are Falling Before Trichet
The yields on ten year Spanish government bonds are dropping. At the moment they stand at 5.13% 5.10%, a significant drop from yesterday’s 5.3% and 5.6% earlier in the week. This is a sign of high hopes that the market is expecting a big bond buying scheme that will lower the yields and return liquidity … “Spanish Yields Are Falling Before Trichet”
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”