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US Session – Dollar rallies against yen after US data

Posted on June 27, 2013 at 7:18 pm GMT

The dollar rallied sharply against the yen in the US session after data gave investors reason to change their expectations that the Fed will taper stimulus soon. The economic data on Thursday was not strong enough to end quantitative easing and most likely the fed’s bond buying stimulus measures will stay in place for the time being. Data showed consumer spending in the US rebounded in May and new applications for unemployment benefits fell last week, but the numbers did [..]

European Session – Sterling tumbles on weak GDP figures

Posted on June 27, 2013 at 12:16 pm GMT

Currency markets were somewhat calmer in European trading on Thursday. Investors feel less nervous that the Federal Reserve will cut off stimulus soon after Fed Bank of Richmond President Jeffrey Lacker said yesterday that the Fed is far from cutting back on its $85 billion a month bond purchase program, which is helping the economic recovery in the US. The weaker dollar helped riskier assets perform better today currencies like the euro, which rallied and moved off yesterday’s three-week low [..]

European Session – Euro tumbles to 3-week low as Draghi comments weigh

Posted on June 26, 2013 at 12:20 pm GMT

The markets in the European Session continued to be driven by dollar strength, which flowed over from yesterday’s string of positive U.S. economic data. Focus now turns to key upcoming data on U.S. GDP revisions, which will be closely watched considering that the Fed will lay significance on further positive data in order to begin tapering stimulus. Euro was weighed by dollar strength as the divergence in economic recovery between the euro zone and the U.S. widens. European Central Bank [..]

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 [..]

Asian Session – Yen rebounds against dollar as China concerns linger

Posted on June 26, 2013 at 6:02 am GMT

A relatively quiet Asian session on Wednesday as most major currency pairs consolidated and dollar held onto gains made yesterday following a string of positive US economic data. Data on improving homes sales, durable goods orders and consumer confidence showed the United States economy is strengthening, fuelling speculation that the Federal Reserve has more room to scale back monetary stimulus. Last week Fed Chief Ben Bernanke signalled the central banks could being tapering its $85 billion a month bond purchase [..]

US session – Dollar surges against yen after US homes sales rise

Posted on June 25, 2013 at 8:08 pm GMT

Currency markets made a complete U-turn in the US session, as the dollar changed direction and rebounded following a series of strong economic data which gave investors optimism that the economic recovery in the US is gaining momentum. This raises expectations that the Federal Reserve will taper stimulus later this year and cut back on its bond buying program. This sent US bond yields higher and lifted the dollar. Early in the session, durable goods data as well as consumer [..]

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 [..]

European Session – Euro steadies as China concerns ease

Posted on June 25, 2013 at 12:33 pm GMT

Most risk currencies and commodities as well as equities saw some recovery in the European session after recent losses as a result of concerns of liquidity conditions following developments from U.S. and China central banks in the past few days. There’s been a bit of profit-taking on dollar gains and the ICE dollar index retreated from near three-week highs. Volatility in currencies surged since the Federal Reserve signaled last week it may start tapering stimulus later this year. Risk aversion [..]

Asian Session – China growth concerns weigh on risk appetite, yen gains

Posted on June 25, 2013 at 9:38 am GMT

China still dominates the news and is weighing on market sentiment as investors fear that a cash squeeze in the world’s second largest economy could affect economic growth. Risk appetite was dampened as the Shanghai stock exchange tumbled more than 6 percent to the lowest since 2009, the worst in four years. China’s short-term cash rates are rising after the People’s Bank of China (PBOC) allowed money market funding to tighten last week. The aim is to control the country’s [..]

European Session – Sterling hits seven-week low against dollar

Posted on May 21, 2013 at 11:59 am GMT

The British pound was the biggest mover in the European Session on Tuesday after weaker-than-expected UK inflation data. Sterling fell to a seven -week low against the dollar after the data, reaching $1.5139 and down 0.7 percent in the session. The pound also fell against euro to 84.91 pence per euro. The UK inflation data gives room for the Bank of England to implement more stimulus measures to boost the economy if necessary. These quantitative easing measures tend to weaken [..]

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