News / Page 447

Forex News – Swiss franc dips as SNB defends 1.20 CHF cap

Posted on February 11, 2013 at 3:12 pm GMT

The Swiss franc weakened against the dollar and euro on Monday in reaction to comments from policy markers about the Swiss National Bank’s commitment to defend the cap on the franc. Back in September 2011, the SNB imposed a 1.20 franc floor in the EURCHF exchange rate in an effort to limit the appreciation of the Swiss currency at the height of the crisis when euro was tumbling and demand for the safe haven franc was high. Today, SNB board [..]

European Session – Euro rebounds against yen

Posted on February 11, 2013 at 2:11 pm GMT

The euro rebounded against the yen and sterling in Monday’s European session, recovering some losses after a sharp dip last week. Last Thursday, remarks from European Central Bank chief Mario Draghi hurt the single currency when he expressed concern about the recent strength of the euro. The euro rose by around 1.1 percent against the yen to hit a session high of 125.37 yen, although it remained well below the 34-month high of 127.69 hit on February 6. After touching [..]

Forex News – Sterling drops off 2-week high versus euro

Posted on February 11, 2013 at 12:59 pm GMT

The British pound pulled back from a two-week high against the euro during London session trading on Monday. After a sharp rally last week, the pound was due for a correction as investors booked profits. Sterling is down 0.8 percent as the euro climbed to 85.37 pence, giving the EURGBP pair a rebound from a two-week low of 84.46 struck on Friday. Euro weakened against the pound after comments by European Central Bank President Mario Draghi on Thursday after he [..]

Asian Session – Euro steady in calm Asian session

Posted on February 11, 2013 at 7:10 am GMT

The Asian session was quiet on Monday as most currency pairs were consolidating after sharp movement last week. Trading volumes were overall mostly light since most regional markets in Asia were closed for the Lunar New Year holiday celebrated in Japan, China, Hong Kong, Singapore, Malaysia and South Korea. The euro hovered near a two-week low against the dollar, after falling sharply by over 1 percent last Thursday in reaction to comments by European Central Bank President Mario Draghi who [..]

Forex News – EU leaders agree on bloc’s first budget cuts

Posted on February 10, 2013 at 9:07 pm GMT

The European Union budget deal was finalized at the EU Summit in Brussels on Friday after around 24 hours of marathon talks by EU leaders on belt-tightening, while maintaining spending on farm subsidies and infrastructure. This was the first ever budget cut in the Union’s 56-year history. EU leaders of the 27 member countries agreed on 34.4 billion euros of cuts until the end of this decade, meaning EU government will contribute slightly less to this budget over the next [..]

US Session – Pounds rallies while euro extends decline

Posted on February 8, 2013 at 9:19 pm GMT

The euro extended losses in the US session on Friday and moved lower against the dollar. The catalyst behind the descent was the EU budget deal that was reached today at the EU Summit in Brussels. Leaders of the 27 EU countries reached an agreement on a seven-year budget plan for the region which includes spending cuts and austerity measures. EURUSD fell to a two-week low of $1.3352 in late US session trading , the lowest since January 25. It [..]

Forex News – Sterling strengthens against euro

Posted on February 8, 2013 at 3:30 pm GMT

Sterling was one of the best performing G10 currencies this week, especially against the euro. This was mainly due to the differing monetary policies of the Bank of England and European Central Bank. The Bank of England announced on Thursday it left the key interest rate at a record low 0.50 percent and maintained the asset- purchase program at 375 billion pounds. The market was expecting the incoming BOE governor Mark Carney to be more aggressive on policy but in [..]

European Session – Yen gains versus dollar, euro

Posted on February 8, 2013 at 11:56 am GMT

Euro is consolidating Thursday’s sharp decline against the dollar. European Central Bank President Mario Draghi’s comments sent the euro to a two week low of $1.3369. Draghi showed some concern over the recent strength in euro and warned of its effects on inflation and growth in the still fragile euro zone economy. Losses were limited today due to encouraging data from German that showed the second strongest trade balance on record. Sterling edged up in the London session and revisited [..]

Forex News – Yen spikes on Japan Fin Min comments

Posted on February 8, 2013 at 10:12 am GMT

The yen spiked sharply in early European session trading on Friday. The dollar fell as much as 1 percent after Japanese Finance Minister Taro Aso’s comments. His comments come on the heels of Prime Minister Shinzo Abe’s pledge that he wants to “correct” excessive yen gains. Taro commented that the Japanese currency has weakened more than it should have during its recent decline and was more than intended. The dollar-yen exchange rate has reached around 90.00 from around 78.00 yen [..]

Asian Session – Euro consolidates losses below $1.34

Posted on February 8, 2013 at 7:08 am GMT

The Asian trading session was quiet on Friday, mostly in consolidation mode after much activity yesterday. The euro fell to a two week low against the dollar on Thursday after comments by European Central Bank President Mario Draghi who highlighted the dangers of a strong euro and the effect it might have on inflation. He said euro strength will be monitored and that the ECB’s monetary policy is still accommodative. Draghi’s remarks were interpreted to mean that he left the [..]

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