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Forex News – German consumer sentiment rises

Posted on January 29, 2013 at 10:35 am GMT

Euro is keeping steady against the dollar on Tuesday, remaining in a range since Friday, and showed little change after today’s German consumer sentiment data. The GFk Consumer climate index was released early in the European trading session, showing a rise for the first time in four months heading into February. It rose to 5.8 going into February from an upwardly revised 5.7 in January. It gives evidence that concerns over the euro zone debt crisis are fading and Germans [..]

Forex News – Aussie rebounds on improved business confidence

Posted on January 29, 2013 at 9:27 am GMT

Australian dollar bounced from month lows against the US dollar on Tuesday after being boosted by a report showing a strong rebound in Australian business confidence. Data showed that business morale improved as local businesses embraced signs of recovery in the global economy. A survey by the National Australia Bank (NAB) showed an increase in the index to plus 3 points in December, which much better than the previous level of minus 9 in November. The sharp movement in the [..]

Asian Session – USDJPY remains buoyed

Posted on January 29, 2013 at 7:11 am GMT

The US dollar remained the dominant currency during the Asian session. In the absence of news flow and no tier one economic data, currency pairs were mostly in consolidation mode in Asia. The greenback gained against most major counterparts on Monday. Yesterday in the US session, economic data releases were mixed but strong durable goods orders helped underpin the dollar. Orders rose 4.6 percent in the month of December, up from 0.8 percent the previous month. Focus this week will [..]

US Session – Sterling extends losses for third day

Posted on January 28, 2013 at 9:55 pm GMT

The dollar was a little choppy against the yen in Monday’s US trading session. Better-than-expected US durable goods data briefly lifted the dollar. Durable goods rose 4.6 percent in the month of December, up from 0.8 percent the previous month. However, a disappointing pending home sales report in December showed numbers fell 4.3 percent, bringing dollar back down to previous levels. USDJPY hit a new 2-1/2 year high of 91.24 early in Monday’s Asian session but subsequently moved lower on [..]

Forex News – US durable goods orders rise, helping USDJPY bounce

Posted on January 28, 2013 at 2:01 pm GMT

Dollar extends gains versus yen after upbeat US economic data today. Durable goods orders rose more than expected in December by 4.6 percent, after a 0.8 percent gain the prior month. A 1.8 percent gains was forecast. The dollar moved back up against the yen to regain earlier losses. USDJPY hit 91.08 after the data at 8:30 am New York time compared to 90.85 before the data. Durables goods data released by the US Commerce Department today show the change [..]

European Session –Pound extends losses to 13-1/2 low versus euro

Posted on January 28, 2013 at 12:32 pm GMT

The euro pulled back from an 11-month high against the dollar during Monday’s European session as investors took profit after a sharp rally recently. Markets are more confident about economic recovery in Europe, following recent upbeat news out of the region. EURUSD was due for a correction and eased down from Friday’s high of $ 1.3477 but remained supported above $ 1.3424. Sterling fell to a 13-1/2 low against the euro on Monday on concerns over the UK economy. Disappointing [..]

Forex News – British pound extends losses against euro and dollar

Posted on January 28, 2013 at 10:50 am GMT

Sterling fell to a 13-1/2 low against the euro on Monday on concerns over the UK economy. Against the dollar, the pound fell to a five-month trough. Disappointing GDP data released on Friday highlight the weakness in the economic recovery in Britain and raises the prospects of more quantitative easing by the Bank of England. Data showed that growth slowed more than expected in the last quarter of last year, with GDP contracting by 0.3 percent. This raises concerns of [..]

Forex News – Fitch downgrades Cyprus

Posted on January 28, 2013 at 8:45 am GMT

Cyprus had its sovereign creditworthiness lowered late on Friday by Fitch Rating to B from BB- with a negative outlook. The small Mediterranean EU member country was downgraded because of ongoing uncertainty regarding the capital needs of some of the nation’s banks. The total recapitalisation costs of the banking sector could be up to 10 billion euros, although Fitch anticipates that this figure may include a degree of headroom. If fully realised it would increase the size of the necessary [..]

Asian Session – Euro hovers at 11-month high

Posted on January 28, 2013 at 7:03 am GMT

The euro remained buoyed near an 11-month high against the dollar in Monday’s Asian session as markets are more confident about economic recovery in Europe, following recent upbeat news out of the region. On Friday, the European Central Bank said European banks will repay more of its loans than economists forecast. These banks obtained cheap three-year loans from the ECB though the LTRO scheme (Longer-Term Refinancing Operations) which the central bank launched last year in an effort to boost liquidity [..]

US Session – Euro strengthens as European banks repay LTRO loans

Posted on January 25, 2013 at 9:45 pm GMT

The euro edged up even higher during the US session on Friday to hit a new 11-month high against the dollar. Boosting the euro was news that the ECB said European banks will repay more of its loans than what had been forecast. These banks obtained cheap three-year loans from the ECB though the LTRO scheme (Longer-Term Refinancing Operations) which the central bank launched last year in an effort to boost liquidity in the financial system at the height of [..]

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