forex news

Asian Session – Euro extends losses ahead of Eurogroup meeting

Posted on October 8, 2012 at 6:05 am GMT

Euro gave back all gains made against the dollar as low risk appetite and low volumes dominated the Asian session this Monday. After a sharp rise against the dollar and most major counterparts on Friday following a better than expected US nonfarm payrolls report, euro fell as focus turned back to the debt crisis in Europe. The Eurogroup meeting will be held later in Luxembourg today, where finance ministers will meet to discuss Greece’s progress toward meeting austerity targets and [..]

US Session – Gold down $20 after improved US jobs report

Posted on October 5, 2012 at 7:09 pm GMT

Risk appetite increased after the US nonfarm payrolls report showed more jobs were created than expected. The US economy added 114,000 jobs in September. This drove down the unemployment rate to 7.8 percent, its lowest since January 2009. Euro and most risk currencies were boosted as risk was back on after the NFPs. EURUSD reached a high of 1.3070 in New York trading, up from 1.2996 before the data. The British pound peaked at a high of $1.6215 before easing [..]

Forex News – Euro surges after better than forecast NFP

Posted on October 5, 2012 at 1:09 pm GMT

Euro and most risk currencies jumped after a better than expected US nonfarm payrolls report today. The NFP for September printed a total of 114,000 jobs created last month compared to expectations for 113,000. The unemployment rate fell to 7.8 percent from 8.1 percent , which is the lowest level since January 2009. The dollar surged against the safe haven yen, with USDJPY jumping to 78.86 within thirty minutes of the news from 78.42 beforehand. Euro hit a high of [..]

European Session – Quiet session ahead of US nonfarm payrolls

Posted on October 5, 2012 at 12:08 pm GMT

The European session was quiet as investors are in a wait-and-see mode ahead of the release of the closely watched US nonfarm payrolls report. EURUSD hovered around the 1.3000 level in the wake of ECB press conference yesterday at which Mario Draghi reaffirmed the commitment to support the euro and control the pressure on sovereign debt rates via the OMT program. Sterling was little changed as well ahead of the US jobs report release at 8:30am New York time. GBPUSD [..]

Asian Session – Yen gains after BOJ holds off from more stimulus

Posted on October 5, 2012 at 6:05 am GMT

Yen gained against the dollar and euro after the Bank of Japan kept monetary policy unchanged and refrained from introducing additional stimulus measures. The central bank kept its benchmark interest rate between zero and 0.1 percent and monthly bond purchases at 1.8 trillion yen. In reaction to the news, USDJPY dipped to an Asian session low of 78.26 from a high of 78.56. EURJPY edged down to 101.85 from 102.26. Focus now turns to the next meeting on October 30. [..]

U.S. Session – EURUSD hits 2-week high after Draghi comments

Posted on October 4, 2012 at 10:05 pm GMT

The euro extended its gains against the dollar in the New York session after the European Central Bank refrained from cutting interest rates. The ECB pledged that it stood ready to buy the debt of troubled euro-zone states. Also ECB President Mario Draghi said in his monthly news conference that rate cuts had not been discussed when the ECB decided to keep its benchmark interest rate unchanged at 0.75 percent. This suggests the ECB has no serious concerns about the [..]

European session – Euro boosted after ECB policy meeting

Posted on October 4, 2012 at 1:05 pm GMT

The euro was boosted after the ECB left interest rates unchanged and ECB President Mario Draghi announced that the central bank’s bond-buying decision eased euro zone tensions. The benchmark rate was left at 0.75 percent. EURUSD surged to a high of 1.2991 going into the U.S. session, up from a European session low of 1.2876. Euro was also supported due to a successful Spanish government bond auction earlier today which provided some reassurance to the markets. Sterling jumped against the [..]

Forex News – Euro lifted after ECB leaves rates unchanged

Posted on October 4, 2012 at 12:25 pm GMT

The European Central Bank announced after its policy meeting today that it kept the benchmark interest rate unchanged at 0.75 percent. It also left the deposit rate unchanged. While the decision was widely expected, the euro still edged up to a European session high of $1.2966, up from a session low of $1.2918. As inflationary pressures in Europe fail to abate it leaves the ECB in an awkward position of needing to stimulate growth, but hesitant to do so by [..]

Forex News – Sterling jumps after BOE meeting

Posted on October 4, 2012 at 11:48 am GMT

Sterling jumped against the dollar and euro after the Bank of England announced its decision to keep interest rates and its bond purchase programme unchanged. The benchmark rate was kept at 0.5 percent and the asset purchase stock at 375 billion pounds. Immediately after the news, GBPUSD surged to 1.6116 from around 1.6106 beforehand, while the euro edged lower to 80.31 pence from around 80.39 pence. The Bank of England opted against expanding its bond purchases since the U.K. economy [..]

Asian Session – Yen falls to 2-week low against dollar

Posted on October 4, 2012 at 5:52 am GMT

The dollar continued its ascent against the yen during the Asian session on Thursday, pushing the Japanese currency to a two week low. The yen has been undermined by speculation of more monetary easing by the Bank of Japan. BOJ has been under intense political pressure to offer more stimulus to spur growth and also weaken the yen. Meanwhile the dollar is being supported as a result of some upbeat U.S. economic data yesterday on improved job and service sector [..]

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