News / Page 472

Forex News – Swiss franc weakens versus euro

Posted on November 19, 2012 at 9:39 am GMT

The Swiss franc weakened against the euro on Monday, after comments from Swiss National Bank Alternate Governing Board member Thomas Moser at a conference in Mumbai. Moser said that the SNB believes that the franc is still overvalued against the euro at the current rate of 1.20 CHF. The SNB set this cap on 6th September 2011 in order to curb franc strength as the Swiss currency was rising sharply due to safe haven demand against the euro zone crisis. [..]

Asian Session – USDJPY hits 7-month high

Posted on November 19, 2012 at 6:55 am GMT

Risk sentiment improved in reaction from the first meeting between Congress and Obama was taken positively. US President Barack Obama met congressional leaders from both parties on Friday to begin talks on cutting the country’s deficit, with the two sides stressing a willingness to find common ground to avert the “fiscal cliff”. Better sentiment on many regional bourses in Asia led to broad dollar weakness and helped euro and risk currencies gain. Yen hit a seven-month low against the dollar [..]

US Session – Euro bounces after optimistic US fiscal meeting

Posted on November 16, 2012 at 8:00 pm GMT

Investors took some risk off the table in the late US session on Friday after some hope emerged from the “fiscal cliff” talks between US President Obama and Congressional leaders. Without a compromise, the sharp fiscal tightening could eventually push the U.S. economy back into recession. House Speaker John Boehner said he had constructive talks with the President regarding the budget and would accept government revenue increases coupled with spending cuts. President Obama began his first face-to-face talks today with [..]

Commodities – Gold trades lower for second day

Posted on November 16, 2012 at 3:27 pm GMT

Gold prices traded lower on Friday, dipping for a second straight day. Spot gold dipped to $1,704.79 on Thursday, after tumbling $20 following a report from the World Gold Council indicating that demand for bullion weakened in the third quarter. On Friday, gold revisited close to those levels, touching a low of $1,705.53. The World Gold Council released a report stating that global gold demand fell 11 percent in the third quarter from a year ago. Pressuring prices was slumping [..]

European Session – Dollar firm in quiet Europe session

Posted on November 16, 2012 at 1:47 pm GMT

The European Session was quite as there was an absence of key economic data and no fresh headlines from Europe regarding Greece. A mainly risk off tone prevailed, with most currency pairs in consolidation on the last trading day of the week. This helped support dollar and the US Dollar Index rose, trading close to its early September highs. Euro eased gradually in the European session due to unwinding of prior longs after a rally from Thursday with little reason [..]

Forex News – Euro zone reports trade surplus in September

Posted on November 16, 2012 at 12:29 pm GMT

Euro zone trade balance report was released today showing a surplus in September, according to the European Union statistics office Eurostat on Friday. Exports from the seventeen-member euro region to the rest of the world exceeded its imports by 9.8 billion euros ($12.5 billion),resulting in an increase in its surplus. This trade balance was more than five times the level in the same month a year ago which had 1.7 billion surplrus in September 2011. A breakdown of the trade [..]

Asian Session – USDJPY pauses after sharp rally

Posted on November 16, 2012 at 6:47 am GMT

Yen saw consolidation for most of the Asian trading session after a sharp two-day decline ahead of the dissolution of Japan’s parliament before elections are called in December. Yen has been under selling pressure on speculation that Japan’s opposition party will take power after elections next month and increase pressure on the Bank of Japan to expand monetary easing and reduce interest rates. Such a move usually has a weakening effect on a currency. USDJPY rallied yesterday all the way [..]

US Session – Dollar hurt by Philly Index, yen continues to fall

Posted on November 15, 2012 at 8:15 pm GMT

Yen remained the big mover today, losing 1.5 percent against the dollar. The safe haven yen was sold off after the leader of Japan’s main opposition party proposed a move toward negative interest rates. The Japanese currency began its downfall on Wednesday when the country’s prime minister called for a dissolution of parliament on Friday and snap elections. The opposition is expected to win, which is more aggressive towards policy easing. USDJPY shot up to a high of 81.45 yen [..]

Forex News – Sandy causes spike in US jobless claims

Posted on November 15, 2012 at 2:36 pm GMT

The number of Americans applying for initial unemployment benefits shot up to 439,000 for the week ended November 10, from 361,000. This brings the first time claims number to the highest in eighteen months. Superstorm Sandy which battered parts of the U.S. East Coast a couple of weeks ago, meant many unemployment offices were closed due to flooding or power outages so people could not go make jobless claims. This resulted in more people seeking unemployment benefits last week as [..]

European Session – USDJPY shoots up again

Posted on November 15, 2012 at 12:45 pm GMT

Euro managed to move higher against the dollar in the Europe trade ignoring a weak GDP report that showed a contracting euro zone economy in the second quarter. The flash GDP numbers were marginally better than forecast but still showing a decline. However it was not enough to weigh on the euro, as the driver remains to be the situation on Greece. Meanwhile, GDP from France and Italy were higher than expected and this data overrode the EZ GDP since [..]

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