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100% Double Up Welcome Bonus at XM

Posted on October 22, 2012 at 8:18 pm GMT

XM is offering new clients an exceptional 2-tier bonus package: the Double Up Welcome Bonus. Clients who open a MICRO, STANDARD, or EXECUTIVE trading account, or fund their existing trading account for the first time between Monday 22nd October 22:00 GMT and Thursday 15th November 21:59 GMT, can benefit now from a 100% Double Up Welcome Bonus on initial deposits of up to $600 plus an additional 30% bonus on further deposits exceeding $600. The 2-tier bonus promotional offer, running [..]

US Session – Canadian dollar weakens ahead of BOC policy meeting

Posted on October 22, 2012 at 7:45 pm GMT

Dollar strengthened in the US trading session taking back losses made in the prior European session. With a lack of key economic data on the calendar today, the dollar mainly took direction from stock markets. Wall Street extended losses today, marking the worst single-day slide in nearly four months as US corporate earnings disappointed. The soft earnings are an indication that the global economy is still fairly weak in its recovery and investors are turning to the dollar as a [..]

European Session – Euro hit 5-1/2 month high against yen

Posted on October 22, 2012 at 12:32 pm GMT

Euro rose sharply against the yen and also gained versus the dollar in the European trading session after being lifted by Spanish regional election results on Sunday. Spanish Prime Minister Mario Rajoy gained a majority in his home region which was a boost to his government’s confidence, which was much needed after recent falling approval ratings amidst tough austerity measures. Markets see this a positive for the euro since the renewed support for Rajoy’s government is an obstacle removed with [..]

Forex News – Spain elections pave way for bailout

Posted on October 22, 2012 at 8:50 am GMT

Spanish Prime Minister Mariano Rajoy won a sweeping victory in regional elections on Sunday, indicating that voters offered some respite to his 10- month-old government amid a tough austerity drive. This helped lift market sentiment and boosted euro in early Asian trading on Monday. Rajoy won a majority in the northwestern region of Galicia, which happens to be his home region, where his People’s Party won 41 of the 75 seats. Socialists lost almost half of their votes. Rajoy’s win [..]

Commodity News – Oil prices supported by Middle East tensions

Posted on October 22, 2012 at 8:16 am GMT

Crude oil halted Friday’s sharp decline to edge up slightly in Monday trading. A softer dollar is helping lift the commodity as risk appetite improved in the Asian session. Oil prices have recently been weighed down by concerns of a slow global economic recovery after data showing tepid recovery in the world’s two largest economies, the United States and China. However, China’s economic recovery is expected to improve, albeit at a slow pace. Nevertheless, the world’s second largest consumer of [..]

Asian Session – Yen falls after Japan trade deficit widens

Posted on October 22, 2012 at 5:59 am GMT

Yen tumbled in early Asian trading session after a report showed Japan’s trade deficit widened the most since May 2011, which was two months after the devastating earthquake which hit the country. Exports declined more than expected by 10.3 percent in September from a year earlier, leaving a trade deficit of 558.6 billion yen. A 9.9 percent export decline was forecasted. The weak trade report raises speculation that there will be additional stimulus measures by the Bank of Japan, which [..]

US Session – Dollar gains across the board, euro falls

Posted on October 19, 2012 at 7:25 pm GMT

Dollar gained against most risk currencies in the New York trade due to safe haven flows as market sentiment faded on disappointing US economic data and weak corporate earnings. A report showed existing home sales in the United States declined in September to an annual rate of 4.75 million versus 4.83 million in August. Meanwhile news out of the European Union leaders summit that ended today provided little to boost sentiment. Although an agreement was reached to establish a single [..]

Forex News – Euro falls after existing home sales dip in US

Posted on October 19, 2012 at 3:17 pm GMT

Risk appetite fell after US data showed the number of existing home sales fell last month compared to August. The euro fell to a session low against the dollar as investors scrutinized the data, concerned that the US housing sector recovery is still a long way off. According to the National Association of Realtors, the number of existing home sales declined to 4.75 million in September from an upwardly revised August figure of 4.83 million. Today’s figure was in line [..]

Forex News – Canada’s inflation remains steady

Posted on October 19, 2012 at 1:42 pm GMT

Canada released CPI data today, showing that consumer prices did not ruise as much as expected in September as inflation remained steady. Statistics Canada reported that annual CPI remained unchanged at 1.2 percent, matching the prior month. Expectations were for the headline inflation rate to tick up to 0.3 percent but there were also few signs of price pressures in the future. The current inflation rate is the lowest level in more than two years. Although there were gains in [..]

European Session – Euro dips as EU Summit fails to address Spain

Posted on October 19, 2012 at 12:38 pm GMT

Markets are a little on the quiet side as risk appetite begins to fade ahead of the weekend. There was little from fundamentals and in fact there was some disappointment over the latest EU summit. Eventhough EU leaders reached an agreement to establish a single bank supervisor for the euro zone by early next year, there was no clarity on potential financial aid for Spain. Speaking to the press after talks at the EU summit, Spanish Prime Minister Mariano Rajoy [..]

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