The Portuguese football (soccer) star Cristiano Ronaldo, who plays for Spanish champion Real Madrid, could become an asset of the European Central Bank. Real Madrid took a loan of 76.5 million euros from Caja Madrid in 2009 and pledged his contract, and of his Brazilian team mate Kaka as collateral. Caja Madrid was later integrated … “Cristiano Ronaldo Could be Transferred from Real Madrid to”
Category: Forex Bits
Chinese Official / Unofficial Figures Diverge – Hard Landing
Official Chinese figures are always treated with a significant amount of doubt by the markets. Nevertheless, the publication still has a strong impact. However, the recent divergence of the official manufacturing PMI and the unofficial HSBC/Markit PMI makes the grain of salt a bit bigger. For the month of May, the unofficial figure showed deeper … “Chinese Official / Unofficial Figures Diverge – Hard Landing”
5 Reasons Why Greek Tourism is Sinking
The “Arab Spring” helped divert some tourists to southern Europe instead of North Africa during 2011. But now, Greece is expected to see a downfall in tourism in addition to other economic troubles. There are various explanations for these depressing expectations in one of the countries flourishing industries: Violent scenes: The protests in Greece included … “5 Reasons Why Greek Tourism is Sinking”
Tradeo’s Forex Social Network Connects Currency Traders
Tradeo launched its social network for forex traders and it opens up the collective knowledge of a community of currency traders. The community can then make decisions based on that collective wisdom in real time. The company already has agreements with forex brokers, allowing special deals and offers. Gigi Levy, which was the CEO of 888 … “Tradeo’s Forex Social Network Connects Currency Traders”
Iran Moves from Currency to Barter Deals
Sanctions on Iran have escalated recently. Iranian financial institutions were cut off from SWIFT. The Belgium based firm is sometimes considered the “glue” of world’s financial system, enabling international transactions. Iran’s neighbors either shy away from any trade with Iran, or move to alternative ways, bypassing the currency. Currency is a Risk The Iranian rial … “Iran Moves from Currency to Barter Deals”
German Finance Minister Shows Greece the Door
Wolfgang Schäuble, Germany’s finance minister, said that he would regret but respect if a country would leave the euro-zone. This isn’t the firm commitment to keep Greece in the euro-zone, heard usually from his boss Angela Merkel. This statement follows previous musings about Greece being a “bottomless pit” and follow many actions that push Greece … “German Finance Minister Shows Greece the Door”
XTB Launches xTab for trading on iPad
XTB acknowledges the growing popularity of Apple’s iPads and launches xTab. This allows trading anywhere for iPad users. The application also includes commentary for traders. This follows a previous announcement regarding the launch of xStation a few months ago. More and more brokers are entering the mobile and tablet space. Press release for xTab Launch … “XTB Launches xTab for trading on iPad”
MetaTrader Server Teleport Service Launched by Tools4Brokers
Tools4Brokers, a company with 3 years of experience with MetaTrader, is launching a service for forex brokers. The service enables transferring clients and order databases between MT4 servers. Forex software is on the move all the time. MetaQuotes recently announced the integration of the liquidity of CitiFX. For more details about Teleport Service, here is … “MetaTrader Server Teleport Service Launched by Tools4Brokers”
Philly Fed Manufacturing Index Exceeds Expectations
The US Philly Fed Manufacturing Index rose to 10.2 points. A score of 9 was predicted. This adds to the positive signs seen earlier. The Philly index is a forward looking one, which makes it a very important and also a good indicator towards the Non-Farm Payrolls. The downside here is that the employment component dropped to … “Philly Fed Manufacturing Index Exceeds Expectations”
Spain Already Completed Around 25% of 2012 Bond Isuance
The euro-zone’s fourth largest economy, Spain, continues distancing itself from the crisis. Yet another bond auction saw lower yields with a full coverage. As of the beginning of February, Spain has managed to cover nearly 25% of all funding needs. There are 3 reasons for that. Bonds for 2015, 2016 and 2017 all got lower yields than … “Spain Already Completed Around 25% of 2012 Bond Isuance”