News / Page 488

European session – Euro boosted after ECB policy meeting

Posted on October 4, 2012 at 1:05 pm GMT

The euro was boosted after the ECB left interest rates unchanged and ECB President Mario Draghi announced that the central bank’s bond-buying decision eased euro zone tensions. The benchmark rate was left at 0.75 percent. EURUSD surged to a high of 1.2991 going into the U.S. session, up from a European session low of 1.2876. Euro was also supported due to a successful Spanish government bond auction earlier today which provided some reassurance to the markets. Sterling jumped against the [..]

Forex News – Euro lifted after ECB leaves rates unchanged

Posted on October 4, 2012 at 12:25 pm GMT

The European Central Bank announced after its policy meeting today that it kept the benchmark interest rate unchanged at 0.75 percent. It also left the deposit rate unchanged. While the decision was widely expected, the euro still edged up to a European session high of $1.2966, up from a session low of $1.2918. As inflationary pressures in Europe fail to abate it leaves the ECB in an awkward position of needing to stimulate growth, but hesitant to do so by [..]

Forex News – Sterling jumps after BOE meeting

Posted on October 4, 2012 at 11:48 am GMT

Sterling jumped against the dollar and euro after the Bank of England announced its decision to keep interest rates and its bond purchase programme unchanged. The benchmark rate was kept at 0.5 percent and the asset purchase stock at 375 billion pounds. Immediately after the news, GBPUSD surged to 1.6116 from around 1.6106 beforehand, while the euro edged lower to 80.31 pence from around 80.39 pence. The Bank of England opted against expanding its bond purchases since the U.K. economy [..]

Asian Session – Yen falls to 2-week low against dollar

Posted on October 4, 2012 at 5:52 am GMT

The dollar continued its ascent against the yen during the Asian session on Thursday, pushing the Japanese currency to a two week low. The yen has been undermined by speculation of more monetary easing by the Bank of Japan. BOJ has been under intense political pressure to offer more stimulus to spur growth and also weaken the yen. Meanwhile the dollar is being supported as a result of some upbeat U.S. economic data yesterday on improved job and service sector [..]

US Session – Dollar extends gains, oil dips

Posted on October 3, 2012 at 7:45 pm GMT

The U.S. dollar strengthened against most major counterparts today after two positive economic reports. One report showed that U.S. Service sector activity expanded at the strongest pace in 6 months. The September ISM non-manufacturing index rose to 55.1 from 53.7. The U.S. services sector makes up 80 percent of the economy and so this helped lift sentiment. Meanwhile, earlier in the day the ADP report showed that private U.S. employers added more jobs last month than expected, creating 162,000 jobs. [..]

European Session – Dollar surges against yen after ADP jobs data

Posted on October 3, 2012 at 1:02 pm GMT

Euro was little changed against the dollar during a mostly quiet European session this Wednesday. EURUSD traded between 1.2876 and 1.2936. Investors are waiting for key events that will likely shift markets more. These two events are the ECB press conference tomorrow as well as the U.S. nonfarm payrolls on Friday. Today we had some EU PMI data, though nothing to shift euro substantially. Many investors are also waiting on any news if Spain will ask for a bailout. Sterling [..]

Forex News – Sterling falls after weak UK economic data

Posted on October 3, 2012 at 12:26 pm GMT

The British pound weakened further against the dollar and the euro after soft U.K. economic data eroded confidence in the prospect of a sustained recovery in the British economy. Data on Services PMI indicated that U.K. service sector growth slowed in September and services providers shed jobs for the first time in ten months. The service sector makes up a large portion of the UK economy and hence its recovery is quite important for the country’s overall economy . The [..]

Asian Session – Aussie extends losses after gloomy trade data

Posted on October 3, 2012 at 5:47 am GMT

The Australian dollar extended its decline today after data showed Australia’s trade deficit was wider than forecast. The aussie has been falling since yesterday when the Reserve Bank of Australia cut interest rates to 3.25 percent and more cuts are expected. The trade deficit widened to AUD 2.03 billion, the largest in three years. AUDUSD fell to a low of 1.0209 in the Asian session, down 1.5 percent since yesterday. Euro gave up gains made yesterday when it reached a [..]

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