News / Page 425

Forex News – Canadian dollar gains after strong GDP data

Posted on April 30, 2013 at 2:54 pm GMT

The Canadian dollar strengthened against the US dollar after better than expected Canadian GDP data on Tuesday. The Canadian economy expanded by a surprisingly faster rate for the month of February, growing at 0.3 percent versus 0. 2 percent expected. Meanwhile, Statistics Canada, government statistics agency, also revised upward GDP for January, to 0.3 percent from 0.2 percent. The main driver behind growth was growth in the oil and gas and manufacturing sectors as well as potash mining. The Canadian [..]

European Session – Euro weighed by ECB rate cut expectations

Posted on April 30, 2013 at 1:26 pm GMT

The European session on Tuesday was relatively quiet leading into the May 1st public holiday on Wednesday when most major markets in Europe will be closed. Major currencies were mostly driven by month end flows and repositioning. Euro was the major mover as a result of economic data releases which weakened it against the dollar by 0.2 percent and is trading in the middle of yesterday’s range. Euro zone inflation dropped more than expected to 1.2 percent in April, the [..]

Forex News – Euro zone inflation falls, unemployment hits record high

Posted on April 30, 2013 at 9:24 am GMT

Euro fell after euro zone inflation data came in lower than the expected 1.6 percent in April and the jobless rate rose. Euro zone CPI data this morning showed that inflation has fallen to a three year low, while the unemployment rate for the region rose to 12.1 percent printing a new record high. The data makes it more likely that the European Central Bank will cut interest rates at its policy meeting later this week. Speculation is growing that [..]

Asian Session – Dollar weak ahead of Federal Reserve meeting

Posted on April 30, 2013 at 6:31 am GMT

The dollar remains weak on Tuesday as investors are cautious while the Federal Reserve begins its two-day policy meeting today. There are growing expectations that the FOMC will continue with its quantitative easing bond purchases as a result of weakening US economic indicators recently. The Fed is currently buying $85 billion of bonds each month in its third round of QE in an effort to boost the US economy. Such measures tend to have a weakening effect on the currency. [..]

US Session – Dollar weak after US data, speculation for more Fed easing

Posted on April 29, 2013 at 7:47 pm GMT

Euro held onto gains in the US session as optimism after Italy formed a new government flowed across the Atlantic over to North American trading. The news that Italian Prime Minister formed a coalition government ended political uncertainty that resulted after inconclusive elections two months ago. EURUSD hit as high as $1.3115, regaining from last week’s losses when euro was hurt by weak German business confidence data. Focus turns to the European Central Bank policy meeting. There is growing speculation [..]

European Session – Euro rallies above $1.31

Posted on April 29, 2013 at 12:43 pm GMT

Euro rallied against the dollar after being buoyed by relief that Italy has finally formed a government, ending two months of political uncertainty following an inconclusive February election. Italy’s Prime Minister Enrico Letta put together a coalition government comprising of the two major political parties of the centre left and centre right. The news also helped the success of the Italian government bond auction today, where Italy sold 6 billion euros of debt at lowest yields since October 2010. Borrowing [..]

Commodities News – Gold prices rebound on weak dollar

Posted on April 29, 2013 at 11:56 am GMT

Gold prices have rebounded from Friday’s sharp dip, climbing steadily in Monday trading to recover most losses. A weak dollar is helping spur buying and buoying the precious metal. The two assets usually have an inverse price relationship. If gold is priced in USD, a weaker dollar makes it cheaper for holders of other currencies to buy gold. Gold prices have climbed over $16 in trading so far today to $ to $1,478.57 an ounce. Since Friday’s low of $1,447, [..]

Forex News – Euro lifted by lower Italy bond yields and formation of Italy government

Posted on April 29, 2013 at 10:00 am GMT

Italy formed a new government on Saturday, after Enrico Letta took over as Prime Minister, ending two months of political uncertainty and gridlock after February’s inconclusive elections. 46-year-old Letta is a moderate leader of the country’s center-left Democratic Party, and his cabinet is a mix of center-right and center-left officials. center-right leader and former Prime Minister Silvio Berlusconi is included in the alliance. German Chancellor Merkel called Letta to congratulate him, invited him to visit Berlin. Currency markets reacted positively [..]

Asian Session – Dollar remains weak, weighed down by soft US GDP

Posted on April 29, 2013 at 6:04 am GMT

The dollar remains weak on Monday as a result of Friday’s softer-than-expected US GDP numbers. Data showed the world’s largest economy expanded by 2.5 percent in the first quarter, missing estimates of a 3.0 percent forecast. The weaker data raised concerns of another year of sluggish growth and spurred fresh bets that the Federal Reserve is unlikely to pull back on quantitative easing in the short term. Focus will now turn to the Fed’s FOMC next Tuesday and Wednesday. USDJPY [..]

US Session – Dollar extends losses against yen after disappointing US GDP

Posted on April 26, 2013 at 8:11 pm GMT

The dollar fell sharply against the yen on Friday, losing 1 percent after extending losses on the back of US GDP numbers missing estimates. Data showed the US economy expanded by 2.5 percent in the first quarter, which was less than the 3.0 percent forecast. The weaker data raised concerns of another year of sluggish growth and spurred fresh bets that the Federal Reserve is unlikely to pull back on quantitative easing in the short term. Focus will now turn [..]

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