News / Page 423

US Session – Euro falls after Draghi hints on further rate cuts

Posted on May 6, 2013 at 8:44 pm GMT

After a quiet European session, the euro finally made a move during the US session and fell against the dollar after European Central Bank President Mario Draghi said that the central banks is ready to cut interest rates again if needed. Draghi’s remarks come just a few days after the ECB cut the main interest rate by 25 basis points to a record low 0.5 percent. After last week’s ECB policy meeting, Draghi also mentioned the possibility of negative interest [..]

European Session – Yen extends weakness

Posted on May 6, 2013 at 11:26 am GMT

Monday’s European session was fairly muted as the UK markets were closed for a bank holiday so trading volumes were light. The rest of the European markets were open and euro zone PMI data were released. The Final Services PMIs released today came slightly higher than expected, with the exception of Spanish PMI, but there was little reaction since the data did not show any significant turnaround and the numbers remain in contraction territory. Most major currency pairs were consolidating [..]

Asian Session – Australian dollar weighed by weak retail sales numbers

Posted on May 6, 2013 at 6:33 am GMT

The Asian session on Monday was mostly quiet since Japanese markets were closed for a public holiday. The only major economic data released in the session was the Australian retail sales numbers. The Australian dollar fell sharply against the US dollar after disappointing numbers were printed. Australian retail sales fell 0.4 percent in March (month over month) versus the expected 0.1 percent decline, and down from February’s 1.3 percent increase, according to a report from the Australian Bureau of Statistics. [..]

US Session – USDJPY surges on US jobs, Dow hits record

Posted on May 3, 2013 at 8:42 pm GMT

Market sentiment was high on Friday after the closely watched US nonfarm payrolls report which showed more jobs were added to the economy than predicted and the unemployment rate unexpectedly declined to a four-year low. The dollar outperformed against the yen and briefly gained against the euro and sterling. Meanwhile US equity markets also gained, as the Dow Jones Industrial Average briefly broke above 15,000 for the first time. The S&P also hit a record high, topping at 1,600. The [..]

European Session – Dollar surges after strong nonfarm payrolls

Posted on May 3, 2013 at 1:13 pm GMT

The dollar surged after the much anticipated US jobs data on Friday which came in much higher than predicted. In the lead up to the data the dollar remained subdued for the most part of the European session. Euro was strong and showed alot of activity early on in the session, rising right after the open and losses made yesterday as a result of the Mario Draghi’s remarks yesterday that the European Central Bank was open to adopting negative interest [..]

Forex News – Sterling lifted by strong UK services PMI

Posted on May 3, 2013 at 11:41 am GMT

Sterling gained 0.2 percent to hit a session high of $1.5570 on Friday after data showed the services sector expanded at its fastest pace in eight months. Britain’s service sector makes a large part of the economy, so the data is quite encouraging and helped boost the pound. According to data, the purchasing manager’s index (PMI) for the service sector beat estimates and printed a reading of 52.9 in April, versus the 52.4 forecast. The data comes a day after [..]

Commodities News – Gold gains as ECB continues with loose monetary policy

Posted on May 3, 2013 at 8:24 am GMT

Gold has gained 1.5 percent since the announcement of interest rate cuts by the European Central Bank on Thursday to a record low 0.5 percent. As the president of the ECB, Mario Draghi said the central bank will continue with stimulus measures, this pushed investors to the safe haven precious metal. Analysts have attributed recent strength in gold prices to expectations that central banks across the world are increasingly adopting looser monetary policy and flooding the financial system with money. [..]

Asian Session – Euro consolidates post-Draghi losses, focus shifts to US jobs data

Posted on May 3, 2013 at 6:27 am GMT

The euro stabilized against the dollar after taking a nosedive in reaction to the European Central Bank Chief’s hints on negative interest rates. Mario Draghi spooked investors during his post ECB-policy meeting news conference on Thursday when he mentioned that the central bank would consider a deposit rate below zero, meaning that euro zone banks would have to pay to keep their funds at the ECB. The euro fell sharply after Draghi’s comments after having being lifted on news that [..]

Forex News – Dollar rises after US jobless claims fall

Posted on May 2, 2013 at 8:33 pm GMT

The dollar rose to the highest level against the yen on Thursday after upbeat US employment related data. A report showed the number of Americans filing initial jobless claims dropped sharply last week to its lowest level since the 2008-09 recession. The data is encouraging and give optimism that the US labor market is still healing even though there are still sign of weakness in the broader American economy. New filings for state unemployment benefits dropped 18,000 to a seasonally [..]

US Session – Euro drops to $1.30 after ECB Draghi’s comments

Posted on May 2, 2013 at 8:14 pm GMT

The euro was volatile today after the European Central Bank policy meeting. Soon after the ECB announced it cut the main interest rate by 25 basis points to a record low 0.5 percent, the euro jumped above $1.32. However, the euro soon reversed direction and dropped hard after ECB President Mario Draghi began his conference. He mentioned that the ECB is open to easing monetary policy even further if necessary in the future. What accelerated euro’s decline was Draghi remarks [..]

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