News - page 4
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
January 5th, 2012
Currencies EUR/USD The pair ended a strongly bearish session yesterday after Germany sold 4.06 billion of euros of 10-year bonds below the targeted quantity of 5 billion of euros, which revived debt concerns and led the sentiment to deteriorate, The common currency slid 0.2 percent to $1.2921
Commodities Oil traded near the highest price in almost eight months in New York as speculation that sanctions against Iran will curb crude supplies countered concern that Europe’s debt crisis will worsen and slow demand. Crude for February delivery was at $103.28 a barrel, up 6 cents, in electronic trading on the New York Mercantile Exchange at 1:59 p.m. in Singapore.
Equities Asian stocks (MXAP) retreated, snapping a two-day rally, after Australia’s services industry shrank and the euro weakened ahead of France’s plans to sells as much as 8 billion euros ($10.4 billion) of debt today. The MSCI Asia Pacific Index dropped 0.5 percent. Japan’s Nikkei 225 Stock Average (NKY) lost 0.8.
read more http://www.acfx.com/landing/?campaignid=CMP-0000000563&utm_source=&utm_medium=text%20ad&utm_campaign=ACFXblog_bhu&utm_term=&utm_content=&utm_landingpageid=LND-0000000199
January 11th, 2012
Currencies EUR/USD The 17-nation currency slid against most of its major peers before Spain and Italy sell securities this week amid concern the nations will struggle to meet funding needs. The euro lost 0.2 percent to $1.2755 as of 6:55 a.m. in London from yesterday in New York.
AUD/USD The Australian dollar declined, snapping two-day gain, as Spain and Italy prepare to auction debt this week amid concern their credit ratings may be cut. Australia’s dollar declined 0.3 percent to $1.0279 as of 4:30 p.m. in Sydney from yesterday in New York, when it appreciated 0.7 percent.
Commodities Oil traded near the highest settlement in almost one week as concern that supplies from Iran will be disrupted countered speculation Europe may enter a recession as it struggles to tame its debt crisis. Crude for February delivery was at $102.27 a barrel, up 3 cents, in electronic trading on the New York Mercantile Exchange at 3:13 p.m. Singapore time.
Gold futures extended sharp gains on Tuesday, trading at the highest level since mid-December as the euro's advance against the U.S. dollar boosted the appeal of precious metals. Gold futures were likely to find support at USD1,606.05 a troy ounce, the previous day's low and short-term resistance at USD1,645.65, the high of December 14.
January 12th, 2012
Currencies EUR/USD The 17-nation currency held a drop from yesterday versus the yen before figures estimated to show European output shrank in November. The euro traded at $1.2712 as of 6:40 a.m. in London from $1.2707 yesterday in New York, when it slid to as low as $1.2662.
NZD/USD New Zealand’s dollar touched a two- month high against the greenback as a report showed China’s inflation cooled for the fifth straight month in December, increasing speculation the Asian nation will provide more monetary stimulus.
New Zealand’s currency gained to 79.81 U.S. cents, the highest since Nov. 9, before trading at 79.55 at 4:09 p.m. in Sydney, 0.2 percent below yesterday’s close in New York.
Commodities Oil rose from the lowest settlement in almost two weeks in New York on concern that a strike in Nigeria and the threat of sanctions against Iran’s nuclear program will curb crude supplies.Crude for February delivery gained as much as 62 cents to $101.49 a barrel in electronic trading on the New York Mercantile Exchange.
Gold prices edged higher on Thursday on concerns about the euro zone debt crisis ahead of Spain's bond auction and a European Central Bank meeting, as robust buying from China and India also supported sentiment.
Spot gold inched up 0.2 percent to $1,644.69 an ounce by 0704 GMT, holding steady above the key 200-day moving average at about $1,636.
ACFX Blog � Forex Trading Community
January 16th, 2012
Currencies EUR/USD Last week on Friday the Euro sharply fell against its majors after the announcement surprised the market with the S&P downgrading France top credit rating by 1 notch to AA+. The euro fell 0.3 percent to $1.2646 at 6:46 a.m. in London from the close in New York on Jan. 13 when it touched $1.2624, the least since Aug. 25, 2010.
GBP/USD The market was hit hard on Friday and sterling extended the weekly losses on news that S&P downgraded France and likely Austria while Germany was safe, all reports were not confirmed with the end of the European session on Friday. The Pound fell against the US dollar to as low as 1.5234 closing the trading week at 1.5317
Commodities Oil traded near the lowest price in almost four weeks as speculation that measures to quell Europe’s debt crisis are failing offset Iran’s call for support to defy a ban on its crude exports. Crude for February delivery was at $98.92 a barrel, up 22 cents, in electronic trading on the New York Mercantile Exchange at 4:20 p.m. Sydney time.
Gold posted its biggest one-day drop in 2-1/2 weeks on Friday, as France and Austria were stripped of their coveted triple-A ratings amid the downgrades of nine euro zone nations, and Greece's talks with creditor banks stalled.
blog.acfx.com
January 17th, 2012
Currencies EUR/USD The euro had a quiet trading day yesterday as it remained lower as French bill auction eyed . EUR/USD hit 1.2626 during European afternoon trade, the daily low; the pair subsequently consolidated at 1.2666, easing down 0.08%.
GBP/USD The Pound consolidated yesterday as trading Volume remained lower due to US Bank holiday and lack of fundamental aspect. GBPUSD hit 1.5274 during European session, the daily low; the pair is trading higher at the moment of writing this report, first major resistance level is at 1.5393.
Commodities Oil rose to the highest level in three days as France pushed for faster enforcement of a ban on Iranian imports and Saudi Arabia’s energy minister said the world’s biggest crude exporter wants prices at $100 a barrel. Crude for February delivery rose to as high as $100.40 a barrel in electronic trading on the New York Mercantile Exchange, up $1.70 from the Jan. 13 closing price.
Spot gold climbed about 1 percent on Tuesday, encouraged by revived risk appetite that lifted markets across the board, after China announced better than expected economic growth in the last quarter of 2011. Spot gold gained 0.9 percent to $1,658.19 an ounce by 0509 GMT, heading for a second consecutive session of gains.
ACFX Blog � Forex Trading Community
17th
bloomberg tv said
greek is discussing with bankers to see whether greek govt will go default
as it has to come up with billion of euro to clear greece debt
since ECB hold most of the greek bond, kick greece out of EU, problem still remain
therefore
I think the only solution could be merge greek with another eastern european country
dissolve the whole greece civil servant govt -- then don't have to pay the civil servant salary (10% of the population are)
then slow down infrastructure of greece, it try to remain biblical olympic era anyway
this might be a solution -- i think
try to see how euro / usd in forex being affected this week !
Yuan rises on strong GDP data, weaker dollar
SHANGHAI: China's yuan rose slightly on Wednesday, as better than expected GDP data and a weaker dollar overnight prompted a stronger central bank mid-point. The yuan traded around 6.3116 at midday, 34 pips stronger than Tuesday's close, after the central bank set the mid-point stronger at 6.3205.
Fears of a slowing economy had dampened expectations of yuan appreciation in recent weeks, as traders expected the central bank to hold the yuan steady in order to protect exporters amid weak external demand and lower-than-expected trade data growth in December.
But China's economy grew 8.9 percent in the fourth quarter last year, higher than 8.7 percent growth that economists had expected. Stronger growth could give Chinese policymakers more freedom to push further yuan appreciation this year, in an attempt to encourage domestic consumption.
Traders said the GDP data led to moderately stronger appreciation expectations on Tuesday and Wednesday.
But the trend was interrupted in early trading Wednesday, as two foreign banks -- apparently working in concert -- made large speculative dollar purchases, said a trader at a city commercial bank in Shanghai. Some other traders followed suit, hoping to ride the wave.
As a result, the yuan weakened slightly in early trading, as the dollar reached an intra-day high of 6.3183 But the market had shifted in the other direction by late morning, as customer demand for yuan pushed the rate back down, and the speculators were forced to cover their positions.
"Some people took the trade too far," said the trader, referring to the speculative bet against the yuan. Even before the GDP figures, renewed appreciation pressure had been evident, as the yuan had strengthened from the mid-point fix every day this year.
Such pressure marked a shift from the last three months of 2011, when the yuan frequently closed weaker than the mid-point price. Traders say this shift is the result of seasonal pressures. At the end of last year, demand for dollars was strong, as foreign companies converted yuan profits into dollars prior to re-patriation.
In the early days of 2012, however, traders are seeing increased demand from Chinese clients who want to convert dollars into yuan to pay for domestic spending and salaries in advance of the Lunar New Year holiday that begins this weekend.
In the offshore non-deliverable forward market, one-year NDFs traded at 6.2920 by midday, 110 pips stronger than Tuesday's close. The rate implied 0.31 percent appreciation over the next year, up from 0.19 percent appreciation implied at Tuesday's close.
The onshore spot rate has now risen 8.2 percent since it was depegged in June 2010.