News / Page 453

European Session – Euro hits 11-mth high above $1.34

Posted on January 25, 2013 at 1:06 pm GMT

The euro strengthened to an 11-month high against the dollar on Friday as 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 in the financial system at the height of the euro zone banking crisis. The higher than expected number of repayments shows those [..]

Forex News – Sterling tumbles after weak UK GDP

Posted on January 25, 2013 at 11:21 am GMT

Sterling took a dive against he euro and the dollar on Friday morning after disappointing UK growth data showed the British economy contracted more than forecast in the last quarter of last year. The pound tumbled to its lowest in 13-1/2 months against the euro and hit a five-month low against the dollar, while UK gilts gained. According to the Office for National Statistics, GDP fell 0.3 percent in Q4, which was a sharper drop than the 0.1 percent expected. [..]

Forex News – Euro rises as German business confidence improves

Posted on January 25, 2013 at 10:39 am GMT

The euro edged up higher against the dollar in Friday’s European session after some key economic data showed German business confidence rose more than forecast in January, adding to signs that Europe’s “powerhouse “is recovering from the slump of 2012. The much anticipated Ifo business climate index reported an increased for a third consecutive month in January, rising to 104.2 in January, the highest reading since June 2012. This was an increase from 102.4 in December. The Munich-based Ifo think [..]

Asian Session – Dollar hits new 2-1/2 year high versus yen

Posted on January 25, 2013 at 7:22 am GMT

The yen sell-off continued into the Asian trading session on Friday after Japanese CPI data showed that consumer prices are still falling and deflation still exists in the economy. This adds more to the case for more monetary stimulus measures by the Bank of Japan, which just this past Tuesday lifted the inflation target to 2 percent in an effort to fight deflation. BOJ Governor Masaaki Shirakawa said he will make “considerable efforts” to achieve the new inflation target. This [..]

US Session – USDJPY breaks above 90.00

Posted on January 24, 2013 at 9:58 pm GMT

A series of upbeat economic data from the US, China and the Euro zone buoyed market sentiment on Thursday, boosting risk currencies as well as US equities and the Standard & Poor’s Index. A slew of positive PMI data gave optimism for global economic recovery, as China’s manufacturing PMI expanded at the fastest rate in two years, and the US preliminary flash PMI rose to a 56.1 in January from 54.0 in December, the strongest rate of growth since March [..]

Forex News – USDJPY extends gains after US unemployment claims fall

Posted on January 24, 2013 at 2:49 pm GMT

Data released by the US Department of Labor on Thursday show that jobless claims fell to the lowest in five years, giving some signs that the sluggish US labor market is improving. The report showed that the number of Americans filing new claims for unemployment benefits unexpectedly fell 5,000 to a seasonally adjusted 330,000, the lowest level since January 2008. Expectations were for claims to rise to 355,000 last week. A pickup in consumer spending last month may be helping [..]

European Session – Euro recovers after better than expected German PMI

Posted on January 24, 2013 at 1:44 pm GMT

Euro experienced some volatility against the dollar on Thursday morning, touching a European session low after weak French PMI data and a record high Spanish unemployment rate but then reversed losses after strong PMI numbers from Germany. The release of a new record high Spanish unemployment rate of 26.02 percent initially weighed heavily on euro but then euro climbed back up after the PMI releases, which showed Germany expanded at its fastest pace in a year. Germany is considered to [..]

Forex News – Euro reverses losses after stronger German PMI

Posted on January 24, 2013 at 12:59 pm GMT

Euro experienced some volatility against the dollar on Thursday morning, touching a European session low after weak French PMI data but then reversing losses after strong PMI numbers from Germany. Also supporting the euro was better than expected Euro-zone composite index, indicating a possible recovery in the region in 2013. The PMI data were compiled by data collector Markit, and surveys around 5,000 firms. It is seen as a good growth indicator. Even though a number below 50 indicates contraction, [..]

Forex News – China on path to recovery after strong PMI

Posted on January 24, 2013 at 10:30 am GMT

China’s economic health in 2013 appears to be improving, based on Thursday’s release of better than expected data from the manufacturing sector. The HSBC flash purchasing managers’ index (PMI) hit a 2-year high in January, which was an encouraging sign for the global economy since China is the world’s second largest economy. The preliminary reading of China’s Purchasing Manager’s Index (PMI) rose to 51.9 in January from the 51.5 final reading for December and the 51.7 forecast. Any number above [..]

Asian Session – Yen weakens, upbeat China PMI lifts sentiment

Posted on January 24, 2013 at 7:26 am GMT

Upbeat data from China lifted market sentiment and risk appetite, resulting in a weaker safe haven yen and boosting the Australian dollar. China HSBC flash PMI hit a 2-year high in January, which was an encouraging sign for the global economy since China is the world’s second largest economy. The preliminary reading of China’s Purchasing Manager’s Index (PMI) rose to 51.9 in January from the 51.5 final reading for December and the 51.7 forecast. Yen weakened, snapping a three- day [..]

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