Forex Previews

Commodities – Gold drops to three-year low below $1,200

Posted on June 28, 2013 at 8:03 am GMT

Gold has tumbled below the key $1,200 level, reaching as low as $1180.11 in early Asian trading hours on Friday. The precious metal has lost over 28 percent in value so far this year, affected by a stronger dollar. The greenback has rebounded as a result of expectations of the Federal Reserve tapering stimulus. Until recently, gold was used by investors as a safe haven asset, to shield their assets from uncertainty in financial markets as well as bold monetary [..]

Forex News – EU Summit concludes with deal on bank rescue system

Posted on June 28, 2013 at 7:33 am GMT

The EU Summit concluded with deals made by European leaders on banks, the EU budget and youth unemployment. A major breakthrough was made on how to deal with bankrupt banks. The cases of Cyprus and Ireland have shown that a state can go too far when saving its banks and might then need help itself. There has been alot of debate recently that it is unfair for taxpayers to “foot the bill”. In the recent banking crisis in Cyprus, deposit [..]

Forex News – Euro slides to 3-week low on dovish Draghi comments

Posted on June 26, 2013 at 10:12 am GMT

The Euro weakened against the dollar after some dovish comments from European Central Bank president Mario Draghi in a press conference on Wednesday in Paris in the French lower house of parliament. Draghi referred to downside risks to the euro zone economy and growth remains fragile, although he believes that it will pick up later in the year. He reiterated that the central bank’s monetary policy will remain accommodative. “We see a gradually recovery picking up by the year end [..]

Forex News – Dollar lifted after strong US durable goods orders

Posted on June 25, 2013 at 1:51 pm GMT

Strong U.S. economic data released in early New York trading on Tuesday helped the dollar rebound from the prior two sessions’ losses. Meanwhile, core durable goods orders excluding transportation were also up 0.7 percent despite estimates for it to remain flat at zero percent. Other positive data showed prices of U.S. single-family homes in April posting the biggest annual gain in seven years. The S&P/Case Shiller composite index of 20 metropolitan regions in the U.S. gained 1.7 percent on a [..]

Forex News – Sterling falls after mild UK inflation data

Posted on May 21, 2013 at 9:24 am GMT

Sterling fell against most major counterparts on Tuesday after the release of UK inflation data. Both consumer and producer price inflation (CPI and PPI) dropped more than had been forecast in April, due to a decline in fuel prices. Core CPI fell to the lowest level since November 2009 while this is the first fall in annual consumer price inflation since September. Data published by the UK Office for National Statistics showed the rate of CPI inflation accelerated at a [..]

Commodities – Silver tumbles to 2-1/2 year low

Posted on May 20, 2013 at 8:38 am GMT

Silver prices fell to the lowest level since September 2010 on Monday morning, reaching as low as $20.30 an ounce before steadying at around $21.40, down 4 percent. On the year, the precious metal has fallen 30 percent. Silver held in exchange-traded products dropped to a four-month low on May 17. Weighing on silver are investor concerns that economic growth may be slowing in China, which happens to be the biggest industrial fabricator after the US and thus a huge [..]

Forex News – Canadian dollar falls after inflation drops below BOC target

Posted on May 17, 2013 at 12:59 pm GMT

The Canadian dollar weakened sharply against the US dollar after data showed that Canada’s annual inflation rate fell to 0.4 percent in April from the previous month’s 1.0 percent . This is the lowest since October 2009 and well below the Bank of Canada’s target range of 1 to 3 percent. Core CPI on a monthly basis also fell to 0.1 percent disappointing expectations for it to remains at 0.2 percent. Contributing to the decline was the fact that gasoline [..]

Forex News – Japanese economy grows at faster pace as Abe’s stimulus takes effect

Posted on May 16, 2013 at 6:54 am GMT

Japan experienced a pick up in the pace of growth in its economy during the first three months if this year. Data released on Thursday showed that GDP increased at 0.9 percent, which was more than the expected 0.7 percent forecasted. Driving growth was an increase in consumer consumption and also an increase in exports. Japan is hugely dependent on exports. On an annualized basis GPD grew 3.5 percent. This is higher than the 2.5 percent growth of the US [..]

Forex News – Bank of England foresees UK growing at faster pace

Posted on May 15, 2013 at 4:23 pm GMT

The UK economy may have some ray of hope for some growth in coming months, based on the Bank of England’s projections. BOE Governor Mervyn King presented his economic forecasts today with the releases of the bank’s quarterly inflation report, predicting that the UK economy will grow at a faster pace while inflation will be lower than expected. However King made no mention of quantitative easing, and whether there will be any more bond buying. Britain’s economy grew 0.3 percent [..]

Forex News – Euro dragged down by weak German investor sentiment data

Posted on May 14, 2013 at 1:50 pm GMT

German investor confidence was weaker in May according to a survey conducted by the ZEW Center for European Economic Research in Mannheim, Germany. The closely watched index is compiled by asking around 275 German institutional investors, to give their outlook for the next 6 months on Germany, and this index rose less-than-expected this month to 36.4. Economists had projected it to rise at least two points from a previous 36.3. The data renewed fears of the euro zone crisis impacting [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms