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News – Ex- British PM Margaret Thatcher dead at 87

Posted on April 8, 2013 at 1:06 pm GMT

Ex-British Prime Minister, Margaret Thatcher, died on Monday at the age of 87 years old. Thatcher was the first female British Prime Minister and was named the “Iron Lady” due to her tough and outspoken policies during her term in office from 1979 to 1990. She won three election victories as leader of the UK Conservative party, and was the longest serving British Prime Minster since the early 19th century. Thatcher was famous for crushing trade unions in Britain and [..]

European Session – Yen inches lower in quiet session

Posted on April 8, 2013 at 10:20 am GMT

The European Session was quiet on Monday with the absence of key economic data releases during the session. Most currency pairs consolidated after high activity on Friday following the US nonfarm payrolls. However, most of the focus today was on the Japanese yen. The yen reached its weakest in nearly four years as a result of new bolder aggressive monetary policy easing from the Bank of Japan. USDJPY briefly touched the 99.00 yen for the first time since June 2009, [..]

Asian Session – Yen hits new 3-1/2 year low

Posted on April 8, 2013 at 6:23 am GMT

The yen began the new trading week by extending losses against most major currencies as investors continued the sell off in the currency due to the Bank of Japan’s pledge to ease monetary policy. The central bank announced that it would expand its bond purchases within two years to fight deflation, and reports have emerged today that the BOJ will being these purchases immediately.The BOJ began by offering to buy 1.2 trln yen of JGBs with a maturity of over [..]

US Session – Dollar hurt by weak jobs data

Posted on April 5, 2013 at 7:27 pm GMT

The dollar weakened against the euro and other currencies after a dismal US jobs report on Friday, disappointing markets which had expected a higher number than the 88,000 jobs created in March. Expectations were for at least 190,000. Meanwhile, February’s numbers were revised up to a 268,000 gain, that was higher than the first estimated figure of 236,000. The euro rose above the key $1.3000 level immediately after the data and then extended higher in the late US session to [..]

Forex News – Dollar falls after worse-than-forecast nonfarm payrolls

Posted on April 5, 2013 at 1:08 pm GMT

The dollar weakened sharply against most major counterparts after a huge disappointment in US jobs data. The much anticipated nonfarm payrolls report showed that only 88,000 jobs were created last month, the smallest in nine months, much lower than forecasts of 200,000 jobs. Meanwhile, February’s numbers was revised up to a 268,000 gain, that was higher than the first estimated figure of 236,000. The official unemployment rate, derived from a separate survey of households, was forecast to hold at 7.7 [..]

European Session – Consolidation as markets await nonfarm payrolls

Posted on April 5, 2013 at 11:13 am GMT

Currency markets were quiet during the European session on Friday as many investors preferred to wait on the sidelines ahead of key US economic data. The nonfarm payrolls report is due at 1230GMT. Consensus is for a drop in job creation, with estimates ranging from 198,000 to 200,000, lower than the previous month’s number of 236,000. The official US unemployment rate is expected to remain unchanged at 7.7 percent. Overall market sentiment appears to be relatively upbeat, with most major [..]

Asian Session – Yen reaches fresh 3-1/2 year low against dollar

Posted on April 5, 2013 at 6:15 am GMT

The yen extended losses in Friday’s Asian session to reach a fresh 3-1/2-year low after suffering its biggest one-day tumble since late 2008 in the previous day, when the Bank of Japan surprised markets by announcing bold monetary policy to attack deflation. The dollar rose as high as 97.18 yen, a level not seen since August 2009. Profit taking towards the end of the session led the pair lower, last at 96.35. Yesterday the USDJPY gained 3.6 percent after the [..]

Forex News – Draghi comments on downside risks to euro zone

Posted on April 4, 2013 at 8:36 pm GMT

The European Central Bank held a policly meeting on Thursday and announced its decision to maintain the benchmark interest rate at 0.75 percent, as widely expected. The following are highlights of the ECB President Mario Draghi post-meeting news conference: DOWNSIDE RISKS “The downside risks include the possibility of even weaker than expected domestic demand, and slow or insufficient implementation of structural reforms in the euro area. These factors have the potential to dampen the improvement in confidence and thereby delay [..]

US Session – Euro surges after ECB Chief Draghi’s press conference

Posted on April 4, 2013 at 7:40 pm GMT

Central bank meetings around the world were in the spotlight on Thursday. The European Central Bank and the Bank of England kept monetary policy unchanged while the Bank of Japan dared to differ and adopted more monetary policy easing. The dollar surged against the yen immediately after the BOJ announced it will double the size of its monetary base in two years by purchasing more bonds and stocks, all in an effort to fight deflation and stimulate the economy by [..]

European Session – Sterling gains after BOE announces no rate change, no QE

Posted on April 4, 2013 at 12:07 pm GMT

Central bank policy meetings dominated the news on Thursday. The day began with the Bank of Japan expanding stimulus measures and the Bank of England and European Central Bank keeping rates and policy steady. The euro briefly popped higher against the dollar after the ECB announced it left the key interest rates unchanged at 0.75 percent. This was broadly expected by the markets, what is more important is the press conference by ECB President Mario Draghi due at 1230GMT. Markets [..]

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