News / Page 466

Asian Session – Euro breaks above $1.31

Posted on December 5, 2012 at 7:09 am GMT

Euro was lifted higher in the Asian session, buoyed by optimism of the Greek bond buyback deal which will help cut the country’s debt load and alleviated fears of a default by Greece. EURUSD opened in Asia at $1.3092 and edged higher to $1.3123, the highest since October 18. Euro is also being supported also by broad dollar weakness. The dollar has been weighed down by lack of progress in the US fiscal cliff talks, and there is less than [..]

US Session – Dollar weak over US budget impasse

Posted on December 4, 2012 at 8:57 pm GMT

Euro consolidated gains against the dollar, hovering at six-week highs on optimism of the Greek bond buyback deal where private debt will be bought at higher than planned prices in order to attract investor interest. European finance ministers at the Ecofin meeting in Brussels today expressed their confidence that the bond buyback will be a success for Greece, enabling the indebted country to reduce debt and receive the next aid installment from the troika. EURUSD hit as high as $1.3107, [..]

Forex News – Canadian dollar rises after BOC statement

Posted on December 4, 2012 at 3:01 pm GMT

The Canadian dollar strengthened sharply against the US dollar after the Bank of Canada interest rate decision and policy statement on Tuesday. The Canadian central bank kept the benchmark interest rate unchanged at 1 percent but kept it rate hike bias. Thus an increase in the rate will likely occur despite a soft economy right now. In a statement the BOC said the following: “Over time, some modest withdrawal of monetary policy stimulus will likely be required, consistent with achieving [..]

European Session – Euro continues advance to fresh 6-week high

Posted on December 4, 2012 at 1:30 pm GMT

Euro advanced to a fresh six-week high against the dollar, as sentiment remains buoyed after news from Monday that Greece unveiled better-than-expected terms for its debt buyback. The bond buyback is a crucial part of a debt deal reached last week by Greece’s international lenders to help reduce the country’s debt burden and also be eligible for more financial aid. EURUSD opened the European session at $1.3065 and climbed to $1.3097, extending gains by 0.8 percent since markets opened in [..]

Forex News – Euro extends gains vs. Swiss franc to hit 6-week high

Posted on December 4, 2012 at 10:54 am GMT

Euro jumped 0.4 percent against the Swiss franc in early European trading on Tuesday, reaching the highest level in six weeks. EURCHF extended gains to 1.2144 from the previous day in reaction to news that the largest banks in Switzerland will launch negative interest rates, and charge a fee for some deposits in francs. The aim is to limit the holdings of Swiss francs by depositors. Switzerland wants to protect its currency from investors seeking a safe haven from the [..]

Forex News – RBA lowers rate by quarter-point to boost economy

Posted on December 4, 2012 at 7:52 am GMT

The Reserve Bank of Australia announced it cut its overnight cash rate by a quarter-point to 3.0 percent following a policy meeting on Tuesday. The last time the rate was at this quarter of a century low was back in 2009 during the global financial crisis. One of the main reasons the central bank decided to lower the rate was due to the fact that the Australian dollar is strong and an elevated currency hurts industries such as manufacturing and [..]

Asian Session – Aussie jumps after RBA statement

Posted on December 4, 2012 at 7:03 am GMT

The Reserve Bank of Australia (RBA) announced it cut its main cash rate by 25 basis points to 3.0 percent following its monthly policy meeting. It cited that it based its decision due an uncertain world outlook, a high currency and soft export prices. The quarter-point rate cut was as expected but the RBA didn’t clearly point to another cut soon. This caused the aussie to jump to $1.0456 from $1.0407. Euro consolidated gains against the dollar during the Asian [..]

US Session – Dollar underperforms after weak manufacturing data

Posted on December 3, 2012 at 8:59 pm GMT

The euro outperformed the dollar today on upbeat sentiment as markets react positively to news that Greece is finally doing something to reduce its debt load. Investor confidence level strengthened after the announcement of details of a debt buy-back and at better than expected prices. EURUSD gained for a fourth straight session to hit a six-week high of $1.3074 on news that something has been put together on the Greece issue. This is the highest level since October 22. Meanwhile [..]

Forex News –Greece announces attractive bond buyback offer

Posted on December 3, 2012 at 2:07 pm GMT

The Greek government announced today that it launching a bond buyback offer where it would spend 10 billion euros to buy back its bonds at a price range above market expectations in order to attract sufficient investor interest. Markets reacted positively to the news, which sent the euro up to a six-month high against the dollar during the European trading session. The bond buyback program is key to reducing the country’s ballooning debt and avoid bankruptcy. It also a requirement [..]

European Session – Euro extends gains on Greek bond buy back

Posted on December 3, 2012 at 1:18 pm GMT

Euro hit a six-month high against the dollar today in reaction to news that Greece launched a bond buy back offer much better than expected. The aim is to reduce its ballooning debt and unfreeze long-delayed aid. Greece said it is prepared to open bids to repurchase bonds issued earlier this year and would spend 10 billion euros to buy back bonds setting a price range above market expectations to ensure sufficient investor interest. EURUSD hit a high of $1.3073, [..]

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