News / Page 479

European Session – Euro rebounds after Italian debt sale

Posted on October 30, 2012 at 1:11 pm GMT

Euro reversed losses against the dollar and advanced during the European session today, helped by a successful Italian debt auction and Spanish GDP not being as bad as expected. European equity markets rose today, also helping lift sentiment as results from BP Plc and Deutsche Bank AG beat analyst estimates, showing good resilience of European companies. The Italian government was able to meet its sale target on 10 year bonds today, lowering borrowing costs. Also Spain contracted less than forecast. [..]

Forex News – Germany's unemployment rises

Posted on October 30, 2012 at 11:14 am GMT

Germany released unemployment data today showing that more Germans are out of work in October compared to September as joblessness rose for a seventh consecutive month. The disappointing data signal that Europe’s powerhouse is not immune to the debt issues that have plagued the euro zone periphery. According to the jobs report issued by Germany’s Labour Office, the number of people out of work increased by 20,000 from September to October, bringing the total jobless amount to 2.937 million. This [..]

Forex News – Yen stronger despite Bank of Japan easing

Posted on October 30, 2012 at 8:27 am GMT

The Bank of Japan announced fresh easing measures after its policy meeting today, making it the second time in two consecutive months, as the central bank is under pressure to take steps to boost the flagging Japanese economy. The BOJ has been under pressure recently to take bolder action amidst a series of disappointing economic data. Last week, trade data showed Japanese exports are on the decline while the country is a risk of deflation. In order for the government [..]

Asian Session – Yen gains after further BOJ easing

Posted on October 30, 2012 at 6:58 am GMT

Yen gained against most major counterparts after the Bank of Japan announced that it eased monetary policy. This was already expected and had already been priced in by the markets. The BOJ increased its asset purchase scheme by 11trillion yen ($138 billion) in an effort to boost the Japanese economy and fight deflation. Many believe this still falls short and is unlikely to make a big difference to the struggling economy. Dollar and euro fell against yen after the news [..]

US Session – Dollar, gas futures gain ahead of Sandy

Posted on October 29, 2012 at 8:50 pm GMT

Risk aversion dominated the markets today leading to a stronger dollar and higher US treasury prices due to safe haven flows. Trading was thin due to the closure of US equity markets as a result of Hurricane Sandy about to hit New York and surrounding areas. US markets will be closed on Tuesday as well. Gasoline and heating oil futures gained as dealers hedged against the risk of power outages and flooding from Hurricane Sandy that could damage refineries and [..]

Forex News – Hurricane Sandy shuts down US markets

Posted on October 29, 2012 at 2:15 pm GMT

The US trading session on Monday is expected to be quiet due to the closure of US stock markets as President Obama declared a state of emergency for the east coast region as a result of Hurricane Sandy. According to a decision reached by the US Securities and Exchange Commission (SEC) late on Sunday night, the New York stock exchange will suspend operations on Monday and possibly on Tuesday as well. “We support the consensus of the markets and the [..]

European Session – Euro heads lower on euro zone debt woes

Posted on October 29, 2012 at 1:02 pm GMT

Euro dropped against the dollar in early European session trading on Monday, down 0.3 percent since Friday’s close. The single currency is being weighed down by euro zone debt woes in relation to Greece and Spain. Today we had data on Spain’s retail sales, which fell 12.6 percent from a year ago, while tomorrow we expect Spanish GDP numbers, also expected to be weak. Meanwhile Germany released CPI data today, showing regional inflation is coming in stronger, which limits the [..]

Forex News – USDJPY consolidates ahead of BOJ meeting

Posted on October 29, 2012 at 10:28 am GMT

The Japanese yen is holding steady against the US dollar, trading mostly sideways since the start of trading on Monday. After clawing back some losses on Friday, the Japanese currency was little changed as investors wait on the sidelines ahead of the Bank of Japan’s policy meeting on Tuesday. There are strong expectations that the BOJ will expand policy easing as part of a plan to stimulate growth in a sputtering economy, especially after data last week showed declining exports. [..]

Asian Session – Light trading volumes ahead of tomorrow’s BOJ

Posted on October 29, 2012 at 6:46 am GMT

Most major currency pairs were little changed during Monday’s Asian session compared to the close on Friday. Trading volumes were low as there are no key events on the economic calendar today. Most important data will be released tomorrow, when the Bank of Japan is to announce its new monetary policy measures. Also key risk event is on Friday when the US non-farm payrolls are due. Meanwhile, trading is expected to be light especially during the US session today due [..]

US Session – Euro rebounds after US GDP

Posted on October 26, 2012 at 7:42 pm GMT

Euro rebounded in the US session but was flat on the day, closing around the same level it had opened this Friday. After reaching a two week low in European trading, EURUSD rebounded to $1.2933 in early New York trading as risk appetite picked up after US GDP data showed the US economy grew by more than expected in the third quarter. US gross domestic product expanded 2 percent in the third quarter, beating economists’ expectations and up from a [..]

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