News / Page 442

Asian Session – Yen tumbles, sterling extends losses

Posted on February 25, 2013 at 5:56 am GMT

The yen sank to a near three-year low against the dollar in early Monday trading after the Japanese government announced the candidates for the new Governor of the Bank of Japan. The likely nomination is current Asian Development Bank President Haruhiko Kuroda, who is seen as favouring bold monetary policy. The incumbent, Masaaki Shirakawa steps down on March 19. USDJPY opened in Asia with a gap higher at 94.50 yen compared to Friday’s close of 93.38. This is the highest [..]

Forex News – UK loses AAA rating after Moody’s downgrade

Posted on February 24, 2013 at 6:36 pm GMT

The United Kingdom was downgraded by Moody’s this weekend by one notch from AAA to AA1, being the first ratings agency to strip the country of its prized triple-A rating. This is the first time the UK as lost its top notch rating since 1978, which Moody’s said was due to expectations that growth will “remain sluggish over the next few years”. It also said that the UK government’s debt reduction programme faced significant “challenges” ahead. In reaction to the [..]

EU News – Conservative Anastasiades wins Cyprus Presidential Elections

Posted on February 24, 2013 at 6:14 pm GMT

Presidential elections were held in Cyprus this Sunday with Conservative leader Nicos Anastasiades winning a majority of votes in the second round. The first round a week ago led to a run-off due to a lack of clear majority for any candidate. 66-year old Anastasiades who has been the leader of the Democratic Rally party since 1997, gathered 57.5 percent of the vote, up from last week’s 45.4 percent of the votes. His leftist rival Stavros Malas, took 42.5 percent [..]

US Session – Euro remains weak below $1.32

Posted on February 22, 2013 at 9:03 pm GMT

The euro extended losses against the dollar in late US session trading on Friday to hit a new six-week low, and is on track for the third week of losses. A series of negative headline news weighed on the single currency. The European Central Bank announced that second LTRO (Long Term Refinancing Operation) repayments were lower than anticipated, meaning the ECB’s balance sheet will shrink at a slower than expected pace. The LTRO is a cheap three-year loan that was [..]

European Session – Euro falls on lower LTRO repayment

Posted on February 22, 2013 at 11:54 am GMT

The euro fell back down today after a series of negative headline news. The European Central Bank announced that second LTRO (Long Term Refinancing Operation) repayments were lower than anticipated. Euroepan banks will be repaying 61.1 billion euros of this second LTRO, on February 27, which was much lower than the expected 122.5 billion estimate. The LTRO is a cheap three-year loan that was offered to banks in the euro zone in order to help increase liquidity in the financial [..]

Asian Session – Aussie rises after RBA governor plays down another rate cut

Posted on February 22, 2013 at 5:56 am GMT

The Australian dollar rose after Reserve Bank of Australia governor Glenn Stevens said in a speech today that the current level of interest rates are appropriate. He also expressed his opinion that he doesn’t think the exchange rate on the aussie is too high. The RBA chief said there was already a good deal of policy stimulus in the economy, giving little indication the central bank will consider easing rates again soon. The RBA slashed rates by 125 basis points [..]

US Session – Dollar holds strong while euro breaks below $1.32

Posted on February 21, 2013 at 9:02 pm GMT

The dominant theme on Thursday was dollar strength, which held strong a day after the boost it received from the Federal Reserve policy meeting minutes. Meanwhile weak euro zone PMI data today added to euro’s weakness. The ICE dollar index hit its highest level in six months at 81.508, the highest level since September 5. The Fed meeting minutes indicate that the Fed could slow or stop its bond buying program and end QE. A report today showed the euro [..]

Forex News – Dollar drops after weak manufacturing data

Posted on February 21, 2013 at 3:47 pm GMT

The dollar fell further against the yen and the euro after disappointing Philadelphia Federal Reserve index showed manufacturing activity in the U.S. Mid-Atlantic region declined unexpectedly in February. The dollar had weakened earlier due to weak jobs data. The weekly unemployment claims figure rose by much more than forecast. Applications for initial jobless benefits rose for the first time in three weeks, returning to levels seen prior to the holiday period. According to a report from the Labor Department, claims [..]

European Session – EURUSD falls below $1.32 on weak PMI

Posted on February 21, 2013 at 11:38 am GMT

The euro plunged against the dollar in Thursday’s European session after weak economic data sent the currency below $1.32 for the first time in six weeks. The Purchasing Managers’ Index (PMI) for bother manufacturing and services industries in the euro zone showed contraction and missed estimates in February. The disappointing economic data highlighted the weakness in euro zone economic recovery and is keeping alive the likelihood of an interest rate cut by the European Central Bank in coming months. Markit [..]

Forex News – Euro extends losses as euro zone data miss forecasts

Posted on February 21, 2013 at 9:34 am GMT

The euro extended losses in the European session to fall to a fresh six-week low against the dollar after disappointing economic data highlighted the weakness in euro zone manufacturing activity. The weak data is keeping alive the likelihood of an interest rate cut by the European Central Bank in coming months. Markit Economics said in a report published today that the composite index of both manufacturing and services industries in the euro zone fell to 47.3 from 48.6 in January, [..]

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