News / Page 400

European Session – Pound hits 3-month high versus euro after UK Services PMI

Posted on September 4, 2013 at 12:08 pm GMT

Sterling hit a three-month high versus the euro, up for a for a sixth day in a row after being boosted by U.K. services PMI reached the highest level since December 2006. EURGBP tumbled after the data, down to a session low of 84.25 pence and currently down 70 pips on the week, to the lowest since May 17. GBPUSD also rose on the PMI data to reach a session high of $1.5630, currently up 55 pips going into the [..]

Forex News – UK Services PMI strongest in almost 7 years, lifts sterling

Posted on September 4, 2013 at 9:01 am GMT

Sterling rose after Britain’s dominant services sector grew at its fastest pace in almost seven years last month, suggesting a nascent economic recovery is rapidly building steam, a monthly industry survey showed on Monday. The Markit/CIPS services purchasing managers’ index (PMI) leapt to 60.5 from July’s 60.2. This is the highest level since December 2006 and a surprise from economists forecast of a decline to 59.0. Meanwhile in July, the PMI had also risen from the previous month’s 56.9 in [..]

Asian Session – Aussie extends gains after GDP data

Posted on September 4, 2013 at 6:25 am GMT

Most major G10 currency pairs remained in very tight ranges during the Asian session on Wednesday. The only currency showing visible movement was the Australian dollar which rose after data. The yen also showed further weakness. Holding patterns formed as investors are cautious and stayed on the sidelines ahead of key risk events and a number of data scheduled for releases. Major central banks are holding policy setting meetings tomorrow. On Friday, the most important jobs report is due, detailing [..]

US Session – ISM data shows US manufacturing expands, lifts dollar

Posted on September 3, 2013 at 8:31 pm GMT

The main economic news during the U.S. session on Tuesday was ISM manufacturing which beat expectations and rose in August, causing the U.S. dollar to rise across the board. The ICE dollar index which tracks the USD against six major currencies, surged to an intraday high of 82.50 after the ISM data. The ISM index rose to a two-year high, printing a reading of 55.7 percent from 55.4 percent, despite expectations for a decline to 54.1 percent. The Fed closely watched [..]

European Session – Euro lower as ECB meeting looms

Posted on September 3, 2013 at 11:21 am GMT

The euro is trading lower against the dollar today, reaching a 1-1/2 low as investors are cautious to take on more euros ahead of a key risk event later in the week. The European Central Bank holds its policy setting meeting on Thursday and there is speculation it may keep interest rates low. EURUSD fell to $1.3159, its lowest level since July 22 and currently down 20 pips since yesterday’s close as investors do not want to be long euros [..]

Forex News – Sterling jumps after UK construction PMI rises most since 2007

Posted on September 3, 2013 at 8:58 am GMT

Sterling jumped almost 30 pips against the dollar on Tuesday after data showed expansion in the U.K. construction sector in August, giving a signal that the economy is gathering pace. According to data from Markit/CIPS construction purchasing managers index (PMI) rose to 59.1 last month at the fastest pace in nearly six years to its highest level since September 2007 driven by residential building. The PMI rose from 57.0 in July, staying far above the 50 mark level demarcating growth [..]

Forex News – Reserve Bank of Australia Policy Statement

Posted on September 3, 2013 at 7:38 am GMT

The following is a statement by Glenn Stevens, Governor: Monetary Policy Decision, Septmeber 3, 2013. At its meeting today, the Board decided to leave the cash rate unchanged at 2.5 per cent. Recent information is consistent with global growth running a bit below average this year, with reasonable prospects of a pick-up next year. Commodity prices have declined from their peaks, but generally remain at high levels by historical standards. Inflation in most countries remains well contained. Overall, global financial conditions remain [..]

Asian Session – Aussie jumps after RBA

Posted on September 3, 2013 at 6:18 am GMT

The yen extended losses in the Asian session on Tuesday, reaching a fresh one-month low versus the dollar and Japan’s Nikkei stock average jumped 2.5 percent. Comments from Japanese officials on the proposed sales-tax increase and Fukushima weighed on the Japanese currency. USDJPY opened in Asia at 99.30 yen and climbed higher to 99.69, up 0.4 percent in the session and up 1.2 percent since Monday. EURJPY hit a one-week high of 131.47 today. The Australian dollar had a busy [..]

US Session – USDJPY hovers at 1-mth high in quiet Labor day holiday

Posted on September 2, 2013 at 8:41 pm GMT

The U.S. session was relatively quiet on Monday since North American markets were closed for the Labor Day holiday, keeping market activity minimal. Also many investors are unwilling to take on new big positions ahead of major central bank meetings later in the week and the important U.S. payrolls report on Friday. The ECB, BOE, BOJ and RBA all hold policy setting meetings this week, while the U.S. jobs data could give some indication on when the Federal Reserve is [..]

European Session – Sterling lifted after PMI data

Posted on September 2, 2013 at 11:59 am GMT

The European session on Monday was a busy one after a slew of PMI data from the Euro zone as well as from the United Kingdom. The British pound was the best performer today after the U.K. PMI registered its best reading in nearly 20 years in August, hitting 57.2 and beating forecasts. Also supporting the pound is a huge deal about to be signed between Vodafone and Verizon. Sterling hit a two-month high against the euro after the data, [..]

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.

News

XM Live Chat