Forex Previews

Forex News – Sterling tumbles on expectations of more QE

Posted on February 20, 2013 at 9:44 am GMT

Sterling tumbled after the release of the Bank of England’s Monetary Policy Committee (MPC) meeting minutes which called for more quantitative easing (QE). Despite the MPC unanimously voting to keep interest unchanged at 0.5 percent, they were split over QE and 6-3 voted in favour of more asset (bond) purchases. MPC members who voted were outgoing BOE governor Mervyn King, executive director for markets Paul Fisher and external MPC member David Miles. Expectations of more bond purchases from the current [..]

Forex News – Euro jumps after German ZEW investor confidence rises

Posted on February 19, 2013 at 10:12 am GMT

Euro jumped against the dollar and European shares rose after a report showed German investor confidence rose much more than expected by over 16 points in February. EURUSD jumped to $1.3372 within a few minutes of the data at 1000GMT from $1.3340. The closely watched ZEW sentiment index increased to 48.2 from a previous 31.5 in January. Economists had forecast a rise to 35.3.This is the third increase in a row. Germany is Europe’s largest economy and is perceived to [..]

Forex News – Euro zone weakness continues: ECB President Draghi

Posted on February 18, 2013 at 4:03 pm GMT

European Central Bank President Mario Draghi spoke in front of the European Parliament on Monday, giving a slightly more dovish outlook on euro zone economic recovery. He believes growth remains weak. He expressed concern on the recent rise in the euro. He said exchange rates will be monitored to see if they have an impact on growth and prices. Below are highlights of some comments made by Draghi today: REGARDING FOREX “The exchange rate is not a policy target but [..]

Forex News – ECB’s Nowotny lends support to euro

Posted on February 18, 2013 at 2:03 pm GMT

The euro was supported from a further drop after comments today from European Central Bank policy makers,Ewald Nowotny, who played down worries on the euro exchange rate. “The euro’s gains against the Japanese yen are also not dramatic”, Nowotny told journalists in Vienna today. Nowotny who was speaking in Vienna today said the “euro’s exchange rate should not be dramatised”. He explained that the single currency was moving within standard exchange rate ranges and he added that growth in the [..]

Forex News – Cyprus Presidential elections go to second round

Posted on February 17, 2013 at 8:35 pm GMT

Presidential elections were held in Cyprus this Sunday with Conservative leader Nicos Anastasiades taking the lead. However he was not able to gather enough votes to secure an outright win, meaning a second round of elections will be held the following Sunday. Cyprus is a small island nation in the Mediterranean and a member of the European Union. It is the fifth EU country to seek a bailout as the country’s debt ridden banks dragged the economy into one of [..]

Forex News – G20 meeting concludes in Moscow

Posted on February 17, 2013 at 8:12 pm GMT

The G-20 meeting of finance ministers and central bankers from the twenty richest nations took place in Moscow over the weekend. Below are some comments by various officials made at the end of the meeting: IMF MANAGING DIRECTOR CHRISTINE LAGARDE “As emphasized by the G-20, global growth is still weak, with unemployment remaining unacceptably high in many countries. The weak global performance derives from policy uncertainty, private deleveraging, continued fiscal drag, as well as insufficient progress on rebalancing global demand. [..]

Forex News – Dollar jumps versus yen after upbeat US data

Posted on February 15, 2013 at 2:13 pm GMT

The dollar erased some losses against the yen after better than expected US manufacturing data lifted sentiment on Friday. The New York State manufacturing index expanded in February for the first time in seven months, gaining almost 18 points to +10.04 from -7.78. The previous last six months showed single digit negative numbers so today’s data was good news. The index now records the highest level since last May 2012 and is the largest one-month increase since December 2010, and [..]

Forex News – Sterling hurt by poor retail sales data

Posted on February 15, 2013 at 11:27 am GMT

Sterling tumbled against the dollar after disappointing UK retail sales data. According to a report from the UK Office for National Statistics, sales volumes including automotive fuel declined 0.6 percent in January on a on the month. This was surprising and confounded economists’ forecasts for higher sales. The main reason was unusually snowy weather which hurt food stores in particular, which resulted in many small grocers closing until the bad weather was over. Data showing sales excluding fuel also fell [..]

Forex News – BOJ governor defends currency policy

Posted on February 14, 2013 at 9:45 am GMT

The Bank of Japan outgoing governor Masaaki Shirakawa gave a press conference on Thursday, talking about the outlook of the Japanese economy and the central bank’s monetary policy. Below are some comments made by Shirakawa: On Japan’s economic outlook: “Japan’s economy is likely to gradually recover, and that recovery could pick up momentum from the middle of this year. “There is a growing chance that consumer prices could rise by 1 percent in fiscal 2014. “Our assumptions about prices and [..]

Forex News – Euro declines after weak German GDP

Posted on February 14, 2013 at 8:41 am GMT

The euro dropped sharply against the dollar after disappointing German growth data showed Europe’s largest economy contracted more than forecast in the fourth quarter. Declines were also seen for France. EURUSD lost 0.5 percent to $1.3381, moving lower from yesterday’s one-week high of $1.3519. On February 1, the euro hit a 15-month high of $1.3709. Germany, which is seen to be Europe’s engine of growth, showed a contraction of 0.6 percent in the last quarter of 2012 due to weak [..]

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