Posts Tagged: currency

The rally between the euro and the dollar reached a two-month low level as the European Central Bank is ready to announce the interest-rate decision after Mario Draghi stated that the crisis has started to affect Germany. Euro was the single currency weakened versus all of the 16 counterparts after Market News International declared that the ECB is unwilling to purchase the government bonds after a decline in the lending costs. The yen improved its position due to the fact that investors sought assets among the re-elected president Obama is trying to prevent the fiscal cliff. Also, the British pound rose against the euro currency as the Bank of England restrained to elevate the asset-purchase program.

Euro dropped 0.3% to $1.2734 reaching the lowest level since the 7th of September. Lee Hardman, the currency strategist at the Bank of Tokyo declared that the following: Draghi’s comments may have encouraged speculation that the ECB may present a more dovish Read more »

The yen succeeded to strengthen its position against the dollar and has reached the strongest level in the last week as the second round of easing of the Bank of Japan disappointed investors. The Bank of Japan stated after the policy meeting today that it developed the asset-purchase program by approximately from 11 trillion yen to 66 trillion yen. The demand for the yen currency as a refuge asset increased substantially as the tropical storm Sandy ravaged the entire American Northeast coast. Also, the pound increased against the dollar before a report forecast showed that the UK retail sales rose.

Head of the Japan foreign exchange research at Nomura Securities stated that the 10 trillion increase of the yen seems as a minimum expansion and that the failure to reach 15 trillion is a high disappointment for markets. Also, he declared that the yen is being purchased as a result of the damages created by Sandy. The Read more »

The yen weakened 80 against the dollar for the first time in the last three months. There are signs that the yen is close to contraction as fanned speculation that the Bank of Japan will bring more impulse. The dollar has managed to maintain a gain of 8 days against the yen, which is considered the longest streak in the last seven years. The US provided two-year notes that rose to the highest level since June against the Japanese peers that attracted money to the dollar-based assets. The Australian dollar had 3 days of losses before the data forecast showed that the level of inflation was the slowest in 13 years, which lead to a cut of the borrowing costs provided by the Reserve Bank.

The Japanese lawmakers apply pressure to the Bank of Japan in order to loosen the monetary policy stated Derek Mumford, the Director of Rochford Capital, a currency risk-management company. Mumford also declared that Read more »

Today, the euro managed to rise against the US dollar and against other important currencies after the Spain reports considered requesting a line of credit after the credit line from the bailout fund of Europe. The currency climbed to $1.2973 in Tokyo and up to $1.2953 in North America.

The European Council President Herman Van Rompuy has created a plan in order to improve the situation in the euro zone. Gabriele Steinhauser explains how to euro zone plan isn’t have and how it can put the neighboring on a serious edge. The Financial Times stated the fact that the country was prepared to make a formal request, but the announcement was delayed due to the fact that it could affect other euro-zone countries such as Italy.

Michael Turner, the currency strategist at RBC Capital Markets stated the fact that if the story is true and the timing is right, the euro currency can gain further support. Also, Stan Read more »

The Dollar Index achieved a one month high after the debt of Spain was cut off. The euro currency has a weak position against most of its counterparts before Italy has to sell bonds today among the deep economic crisis in Europe. The Australia’s dollar has strengthened its position after the country added workers since May. The yen has recorded a rise although the rest of its rivals have declined.

Europe has shared the currency at a low level of $1.2826 and wasn’t seen at this level since October 1. Was traded as $1.2837 and has decreased 0.3 % from yesterday. This analysis leads to the conclusion that the dollar has reached a higher level. The fiscal outlook in Spain can lead to a fall to a junk status of the currency.

The Dollar Index is used to pursue the dollar against the major currencies. Today, the DXY has reached a level of 80.205, a level Read more »

Asian Stock markets opened higher today. NIKKEI started the day at 10,008.00, previous close was 9,889.72. HANG SENG opened at 22,077.55, previous close was 21,902.40. Asian stocks are climbing on optimism that U.S. lawmakers will reach an agreement before the deadline. Another factor fueling investors’ expectation is strong U.S. corporate earnings. Fund manager at Shinkin Asset Management, Naoki Fujiwara said “The market may stay strong throughout the day on hopes that U.S. earnings will continue to cheer investors. If Intel Corp’s results later in the day are good, tech shares may continue climbing”. It seems that further gains will depend on Japanese corporate earnings due out next week.

Asian session is going flat today. We see some USD strength against other major currencies except JPY. Gold fell below $1,600 level after President Barack Obama backed a deficit reduction plan released by a bipartisan group of senators. The proposal, which seems to include constructive ideas to deal with the Read more »

Asian Stock markets are sliding slowly today. NIKKEI started the day at 9,921.50, previous close was 9,974.47. HANG SENG opened at 21,767.80, previous close was 21,804.75. Drop in U.S. stocks, concerns over European sovereign debt and the lack of progress in U.S. debt ceiling negotiations are the most important factors that are making the markets nervous. Senior strategist at Daiwa Asset Management, Yoshinori Nagano said “In the U.S., as well as concern about the economy, with the debt talks stalling the outlook for the country is still unclear. We are unable to see the end of the sovereign debt crisis in Europe, and fears are refusing to abate. The results of what is happening in Europe are beating down bank stocks here”.

Europe’s debt problem is getting very serious and President Obama is running out of time. U.S. dollar has been under pressure amid growing concern U.S. lawmakers will fail to reach a deal on the country’s debt Read more »

The Currency market is going flat during the Asian session while Asian stock markets opened lower. Fears of slowing U.S. economy and concerns slowing global growth are affecting the markets. NIKKEI started the day at 9,371.21, previous close was 9,380.35. HANG SENG opened at 22,806.98, previous close was 22,949.56.

Yesterday the euro dropped after a German official mentioning that a second Greek bailout was not yet certain. Later on, Eurogroup President Jean-Claude Juncker’s comments fueled selling in the euro. In his speech he was saying that the euro was overvalued. Drop in the euro was limited as the market participants have been expecting a rate hike in July. At this point, the FX market is looking to European Central Bank meeting on Thursday. If ECB president Jean-Claude Trichet hints at a rate hike, the focus will turn toward interest rate differentials and it obviously pull money towards the euro.

Still many analysts think that a restructuring of Greece’s Read more »

The principle that stands behind the Forex market is related to the fact that this financial market is probably the most volatile financial market in the world. This means that the values of all the currencies can drastically change overnight and this can lead to gaining huge profits. But all the Forex traders know that the most important thing they have to take into consideration when trading on this financial market is the news. This news can refer to the political and geographical situation of a country, to some other financial factors that severely influence the market and to the sentiment assimilated to each and every currency at a certain moment of time. A good trader has to be continuously updated in all these fields as the market fluctuations can be largely foreseen based on these factors. It is true that nobody can guarantee that certain news will necessarily and immediately affect the value of a currency, but Read more »

Trading on the Forex market is an incredible experience that will make you completely live the moment as it is a job full of adrenaline. The Forex market is quit risky, so you always have to keep yourself up-to-date in order to make sure that you are on your winning path. As the Forex market is also very versatile, it will always provide huge quantities of adrenaline to traders. But, this is one of the few jobs that allow you to win big. So, if you become an experienced Forex trader, if you develop your sense of reality and if you manage to trade without letting your emotions confuse you, you will have the chance to gain big amounts of money by just working from your computer.

Here are a few tips you should keep in mind when trading Forex if you are serious about becoming a winner:

Stay updated with the news. If you are not Read more »