News / Page 434

Asian Session – Yen extends gains on safe haven demand

Posted on March 22, 2013 at 7:26 am GMT

Markets were calmer in the Asian session as the weekend looms and investors are unwilling to enter new positions ahead of uncertainty. The yen extended gains from yesterday as the concerns in the euro zone debt crisis fuelled appetite for the safe haven Japanese currency. Also helping support yen was few details from the Bank of Japan’s new governor on monetary easing. Haruhiko Kuroda failed to outline at his inaugural press conference on Thursday on how he plans to achieve [..]

US Session – Dollar falls against yen

Posted on March 21, 2013 at 9:14 pm GMT

Risk was off during the US session on Thursday, as investors waited on the sidelines for developments in the euro zone where renewed concerns over the debt crisis have been ignited. Meanwhile weak economic data from the region earlier in the day weighed heavily on the single currency. The purchasing managers’ (PMI) index for both the euro zone as a whole and Germany and France all showed deterioration in manufacturing activity in March. A report compiled my Markit showed that [..]

European Session – Sterling outperforms after strong UK retail sales

Posted on March 21, 2013 at 12:19 pm GMT

Euro is weaker today, dipping below $1.29 after disappointing economic data highlighted the continuing downturn in the euro zone. The purchasing managers’ (PMI) index for both the euro zone as a whole and Germany and France all showed deterioration in manufacturing activity in March. A report compiled my Markit showed that the German manufacturing purchasing managers’ (PMI) index dropped to a seasonally adjusted 48.9 in March from a February’s final reading of 50.3. Germany is seen as the Europe’s engine [..]

Forex News – Sterling jumps after strong UK retail sales data

Posted on March 21, 2013 at 10:20 am GMT

The British pound rallied sharply against the dollar on Thursday after surprisingly better-than-expected -retail sales data from the United Kingdom. According to a report from the Office of National Statistics, retail sales data ,where excluding fuel, saw a gain monthly of 1.9 percent. Those sales which included fuel volumes also rose, up 2.1 percent, beating expectations for a 0.5 percent increase. Compared to a year earlier, sales increased 2.6 percent. It was reported by the ONS that much of the [..]

Forex News – Euro plunges after weak German PMI data

Posted on March 21, 2013 at 9:20 am GMT

The euro plummeted against most major counterparts after dismal economic data out of Europe on Thursday. Germany, which is the euro zone’s largest economy and seen as the region’s powerhouse, published weaker than expected data with regards to its manufacturing activity. German manufacturing purchasing managers’ (PMI) index fell to a seasonally adjusted 48.9 in March from a February’s final reading of 50.3. Forecasts were for the index to rise to 50.5. A reading above 50.0 on the index indicates industry [..]

Asian Session – Yen advances versus dollar, BOJ’s Kuroda in focus

Posted on March 21, 2013 at 7:13 am GMT

The yen edged higher against the dollar and euro in Thursday’s Asian session. The new Bank of Japan Governor Haruhiko Kuroda begins his new term in office today. Kuroda has pledged for more aggressive policy easing. More monetary stimulus will tend to weaken a currency, so in the longer term yen is bearish. USDJPY opened in Asia at 96.00 and eased down to 95.65 while EURJPY fell to 123.75 from 124.25. Focus will be on Kuroda’s first press conference today [..]

US Session – Dollar rises against yen after Fed meeting

Posted on March 20, 2013 at 9:32 pm GMT

Dollar traded lower against risk currencies in Wednesday’s North American trading session as markets were more upbeat today and the Federal Reserve helped support sentiment. Against the safe haven yen dollar surged. The Federal Reserve announced it will continue its bond-buying policy at $85 billion a month to prop up the US economy. The markets took this as a positive, since such measures have so far helped improve economic conditions. Interest rates were kept at record low. The Fed Chairman [..]

European Session – Pound strong, focus on UK budget

Posted on March 20, 2013 at 12:35 pm GMT

The British pound was the biggest mover in the European session on Wednesday, outperforming against most major counterparts. Sterling jumped higher against the dollar and euro after much better-than-expected UK employment data showed the lowest claimant count level since June 2011. GBPUSD recovered losses made early in the London session when the pair fell to a low of $1.5026 and subsequently rose after the jobs data to $1.5144, higher than the session open price of $1.5088. EURGBP fell from a [..]

Forex News – Sterling rises after UK jobs data and BOE meeting minutes

Posted on March 20, 2013 at 10:06 am GMT

Sterling jumped higher against the dollar and euro after much better-than-expected UK employment data on Wednesday. Data showed the lowest claimant count level since June 2011, giving optimism for the British economy. The official unemployment rate remains steady at 7.8 percent. The data come ahead of a key budget announcement by UK Chancellor of the Exchequer, George Osborne. GBPUSD recovered losses made early in the London session when the pair fell to a low of $1.5026 and subsequently rose after [..]

Asian Session – Markets calm ahead of UK budget and Fed policy meeting

Posted on March 20, 2013 at 7:14 am GMT

Currency markets was calm during the Asian session, with most major currency pairs consolidating after much volatility on Tuesday due to renewed concern over the euro zone debt crisis. The euro hovered at a four-month trough against the dollar. EURUSD tumbled 0.8 percent yesterday to $1.2843, the lowest since November 22 last year. Sterling remained within this week’s range where it has been fluctuating between $1.5070 and $1.5143. In Asia cable traded a tighter 25-pip range as markets are cautious [..]

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