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US Session – Yen falls to 5-1/2 year low versus Aussie

Posted on April 11, 2013 at 7:48 pm GMT

The yen weakened for a second day on Thursday, with the US dollar breaking a new four-year high within two days as investors sold off the Japanese currency in the wake of Bank of Japan stimulus measures. USDJPY got so close to the key 100 yen level and hit 99.93 in the late US session.The pair has rallied 7 percent since the BoJ pledged at its policy meeting last week to inject about $1.4 trillion into the Japanese economy to [..]

European Session – EURUSD hits 6-week high after Italy bond auction

Posted on April 11, 2013 at 12:11 pm GMT

The euro surged to a six-week high versus the dollar after news of a successful Italian sovereign bond auction resulted in lower yields. Spain’s borrowing costs also fell, with the 10-year bond yields reaching the lowest since November 2010. The bond auctions show that optimism amongst investors is improving and it appears that Italian election risk already appears to be getting priced out and markets are getting less concerned about the political conundrums that are continually plaguing Europe. EURUSD broke [..]

Asian Session – Aussie falls after weak jobs data

Posted on April 11, 2013 at 6:08 am GMT

USDJPY pulled back after nearing just 0.1 percent away from the key 100 yen level in the late US session when it hit 99.86. The pair reversed direction and eased down to a low of 99.35 in Asia. The dollar was propelled to a new four-year high yesterday after the FOMC minutes of the last Federal Reserve policy meeting, which revealed that several members seeing end of quantitative easing by year’s end and the Fed will likely begin slowing its [..]

XM adds PaySafeCard as a Funding Option

Posted on April 10, 2013 at 9:32 pm GMT

We are pleased to announce the addition of PaySafeCard as a deposit option at XM. Clients residing in Europe can securely fund their accounts via PaySafe by logging in to the Members Area and entering the amount they wish to deposit along with the 16-digit code at any time at the Deposit tab. Funds deposited via PaySafe are instantly credited to clients’ MT4 accounts. PaySafeCard deposits are accepted in the following countries and currencies: EUR Accounts PaySafe is available for [..]

US Session – USDJPY hits new 4-year high after FOMC minutes

Posted on April 10, 2013 at 1:51 pm GMT

The most part of the European session morning was uneventful until the arrival of the US session. USDJPY received the most action, as several headline news within a time period of one hour rattled markets and caused the pair to see-saw. USDJPY opened in Europe at 99.12 and climbed to a session high of 99.57 but finding resistance just below Tuesday’s highs of 99.65 and unable to break past it. In early US session trading, a press release on an [..]

Asian Session – Yen weakness remains

Posted on April 10, 2013 at 5:40 am GMT

Yen weakness remained in tact in a quiet Asian session on Wednesday. Most major currency pairs were range bound. Lack of fundamental news or key economic data kept major pairs in consolidation mode. The downside bias of yen though still exists based on the recent bolder monetary policy of the Bank of Japan. Easier monetary policy being undertaken by the central bank will have a weakening effect on the Japanese currency as it has begun purchasing Japanese government bonds. These [..]

US Session – Dollar weakness lifts gold to 1-week high

Posted on April 9, 2013 at 6:50 pm GMT

The US trading session on Tuesday was relatively quiet, with the market mainly following through with the previous trend, as there was a lack of any major fundamental news or key US data to change direction. The dollar remained weak as investors will likely stay sidelined ahead of the FOMC meeting minutes due on Wednesday. Investors will wait to see the outlook of the Federal Reserve and hints on further monetary policy. Meanwhile, data released today showed US wholesale inventories [..]

European Session – Sterling gains after upbeat UK manufacturing data

Posted on April 9, 2013 at 12:05 pm GMT

The euro had a mixed morning after a series of European data was relatively muted. In Germany, the February trade surplus increased to 16.8 billion euros, more than the expected 15.0 billion. Germany is Europe’s largest economy so the data is important. Meanwhile, the trade deficit widened in France to minus 6 billion in February from an expected minus 5.4 billion, and up from a previous minus 5.7 billion. EURUSD opened the European session at $1.3032, pulling back from 3-week [..]

Asian Session – Dollar weakens versus euro after Bernanke comments

Posted on April 9, 2013 at 6:19 am GMT

The euro rose for a fifth day against a broadly weaker dollar and the yen edged lower against major peers during the Asian session Tuesday. Easier monetary policy being undertaken by central banks in the U.S. and Japan have had a weakening effect on the dollar and yen. Late on Tuesday night Federal Reserve Chairman Ben Bernanke said economic conditions are not where he expects them to be raising speculation that more QE (quantitative-easing) is likely. This hurt the dollar. [..]

US Session – Yen falls to weakest level since May 2009 versus dollar

Posted on April 8, 2013 at 7:38 pm GMT

Yen extended losses against most major peers in the US trading session on Monday as the Bank of Japan’s begins its monetary easing following its announcement at the policy meeting last Thursday. Such measures include increasing the monetary base by purchasing Japanese government bonds (JGBs) to an annual pace of about 50 trillion yen, with the aim of fighting deflation and stimulating the economy. The dollar broke past 99 yen to peak at 99.31 yen in late US session trading. [..]

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