News / Page 444

US Session – Euro falls on ECB chief Draghi comments

Posted on February 18, 2013 at 4:43 pm GMT

The US trading session on Monday was quiet since North American markets were closed for public holidays. In the US it was Presidents Day and in Canada it was Family Day. This resulted in light volumes and most currency pairs remaining in ranges. The euro moved slightly lower after being weighed by dovish comments from European Central Bank President Mario Draghi who was speaking at the European Parliament today. Draghi said the euro’s recent strength marks downside risks to the [..]

Forex News – Euro zone weakness continues: ECB President Draghi

Posted on February 18, 2013 at 4:03 pm GMT

European Central Bank President Mario Draghi spoke in front of the European Parliament on Monday, giving a slightly more dovish outlook on euro zone economic recovery. He believes growth remains weak. He expressed concern on the recent rise in the euro. He said exchange rates will be monitored to see if they have an impact on growth and prices. Below are highlights of some comments made by Draghi today: REGARDING FOREX “The exchange rate is not a policy target but [..]

Forex News – ECB’s Nowotny lends support to euro

Posted on February 18, 2013 at 2:03 pm GMT

The euro was supported from a further drop after comments today from European Central Bank policy makers,Ewald Nowotny, who played down worries on the euro exchange rate. “The euro’s gains against the Japanese yen are also not dramatic”, Nowotny told journalists in Vienna today. Nowotny who was speaking in Vienna today said the “euro’s exchange rate should not be dramatised”. He explained that the single currency was moving within standard exchange rate ranges and he added that growth in the [..]

European Session – Pound and yen under pressure

Posted on February 18, 2013 at 1:19 pm GMT

The two major currencies that underperformed on Monday were the yen and the British pound. Sterling fell to a seven-month low against the dollar after comments from Bank of England policymaker Martin Weal signalled it was necessary to take measures to boost the sluggish UK economy. Such measures result in weakening the pound and spooked investors who sold it off. The pound has been under pressure since last week’s grim Bank of England quarterly inflation report which expects inflation to [..]

Asian Session – Yen resumes weakness after G20

Posted on February 18, 2013 at 7:12 am GMT

The yen resumed weakness against most major counterparts at the start of Monday trading after the G20 meeting over the weekend did not directly criticize the Japanese government for its recent monetary policies that have resulted in a weaker yen. The G20 reiterated its pledge to refrain from competitive devaluations and said monetary policy would be directed only at price stability and growth. Recently Japan has been in focus and raised concern of a currency war since its bold reflationary [..]

Forex News – Cyprus Presidential elections go to second round

Posted on February 17, 2013 at 8:35 pm GMT

Presidential elections were held in Cyprus this Sunday with Conservative leader Nicos Anastasiades taking the lead. However he was not able to gather enough votes to secure an outright win, meaning a second round of elections will be held the following Sunday. Cyprus is a small island nation in the Mediterranean and a member of the European Union. It is the fifth EU country to seek a bailout as the country’s debt ridden banks dragged the economy into one of [..]

Forex News – G20 meeting concludes in Moscow

Posted on February 17, 2013 at 8:12 pm GMT

The G-20 meeting of finance ministers and central bankers from the twenty richest nations took place in Moscow over the weekend. Below are some comments by various officials made at the end of the meeting: IMF MANAGING DIRECTOR CHRISTINE LAGARDE “As emphasized by the G-20, global growth is still weak, with unemployment remaining unacceptably high in many countries. The weak global performance derives from policy uncertainty, private deleveraging, continued fiscal drag, as well as insufficient progress on rebalancing global demand. [..]

US Session – Yen extends losses as G20 meeting begins

Posted on February 15, 2013 at 8:33 pm GMT

The yen weakened against the dollar and euro as the G20 meeting beings in Moscow this weekend. New reports say that the G20 draft communique does not directly criticize Japan for yen weakness. So investors interpreted this as the G20 not concerned so much about the currency falling so sharply. The G20 is expected to urge members to avoid competitive devaluation, but not echo the G7 view that exchange rates should not be a target of policy. Finance ministers and [..]

Forex News – Dollar jumps versus yen after upbeat US data

Posted on February 15, 2013 at 2:13 pm GMT

The dollar erased some losses against the yen after better than expected US manufacturing data lifted sentiment on Friday. The New York State manufacturing index expanded in February for the first time in seven months, gaining almost 18 points to +10.04 from -7.78. The previous last six months showed single digit negative numbers so today’s data was good news. The index now records the highest level since last May 2012 and is the largest one-month increase since December 2010, and [..]

European Session – Yen holds gains ahead of G20

Posted on February 15, 2013 at 1:36 pm GMT

The euro remained under pressure on Friday, after being weakened yesterday by disappointing data showing a drop in GDP in the euro zone which is sinking more deeply into recession. The figures are likely to keep alive expectations of an interest rate cut by the European Central Bank. The euro fell 0.3 percent to $1.3305, its lowest since January 24. The euro also fell against the yen by 0.6 percent to 122.88, the lowest since January 30. It hit a [..]

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