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| Cable opens firmer but off overnight highs
March 3, 2010 at 1:39 PM
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| | Cable opens firmer but off overnight highs By Gerry Davies || March 3, 2010 at 06:34 GMT || 0 comments || Add comment Cable sits at 1.5025, up from a North American close Tuesday around 1.4960, but someways from overnight high of 1.5075. Article in FT which suggests Prudential's deal to buy... | | |
| EUR/USD eeks out some marginal gains in Asia
March 3, 2010 at 1:00 PM
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| | Browse > Home / All, Budget/Politics, Economy, Europe, Regions / EUR/USD eeks out some marginal gains in Asia EUR/USD eeks out some marginal gains in Asia By Gerry Davies || March 3, 2010 at 05:53 GMT || 0 comments || Add comment EUR/USD up at 1.3640 from North American close Tuesday around 1.... | | |
| Sterling's slippery slope
March 3, 2010 at 12:58 PM
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| | The 25 per cent fall in the value of the pound over the past couple of years has amounted to a bigger depreciation than in any single post-war sterling crisis. Most see this as a healthy correction of an over-valued currency, which has given us a more competitive exchange rate just when we needed it... | | |
| Asian FX market wrap: sterling recovers some ground
March 3, 2010 at 12:00 PM
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| | Cable rallied almost 100 pips after doubts began to emerge whether Prudential may have to pull out of AIG deal and therefore un-do FX hedging EUR shorts further un-nerved by reports that US Dept of Justice were investigating hedge fund activity Australian Q4 GDP as expected at 0.9% UK consumer co... | | |
| U.S. Said to Tell Hedge Funds to Save Euro Trading Records
March 3, 2010 at 11:52 AM
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| | The U.S. Department of Justice has sent notices to hedge funds telling them not to destroy trading records involving bets on the euro, according to a person who has seen the requests. The notices went to at least some of the hedge funds whose executives attended an idea dinner hosted by New York-... | | |
| Fed's Kocherlakota:Slowr Grwth On Political,Comm R-Estate Risk
March 3, 2010 at 11:28 AM
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| | Narayana Kocherlakota, president of the Minneapolis Federal Reserve Bank, warned Tuesday of slow progress in economic growth and the employment picture, caused by uncertainties surrounding legislative initiatives from Washington and ongoing problems in the banking sector tied to commercial real... | | |
| Australia May Pause on Rate Increases at Next Meeting
March 3, 2010 at 11:00 AM
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| | Australia's central bank, the first in the Group of 20 to raise interest rates this year, may pause next month as Governor Glenn Stevens weighs whether inflation is a bigger threat than Europe's sovereign debt crisis. Reserve Bank of Australia policy makers, who increased the benchmark interest ... | | |
| MIT Professor Diamond Said to Be Contacted for Fed Governor Job
March 3, 2010 at 10:07 AM
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| | The White House has contacted Peter Diamond, an economics professor at the Massachusetts Institute of Technology, about joining the Federal Reserve's board of governors, according to two people familiar with the discussion. Diamond, a specialist in taxation and behavioral economics, has written ... | | |
| Greece Set to Outline New Austerity Measures Wednesday
March 3, 2010 at 9:18 AM
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| The Greek government is expected to outline Wednesday a new austerity package of about €4 billion ($5.42 billion) in an effort to cut its huge budget deficit by four percentage points this year, government officials said Tuesday. "The new package will most likely be announced on Wednesday. First ... | | |
| Japan's Wages Rise for First Time in 20 Months on Overtime Pay
March 3, 2010 at 9:11 AM
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| | Japan's wages rose for the first time in 20 months in January as the economic recovery prompted employers to keep workers on the job for longer hours. Monthly wages including overtime and bonuses advanced 0.1 percent from a year earlier to 273,142 yen ($3,080), the Labor Ministry said today in To... | | |
| Recent Recommended Trades by AceTrader
March 3, 2010 at 8:38 AM
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| | Update Time: 02 Mar 2010 18:55GMT DAILY USD/JPY OUTLOOK - +88.60+ Although dlr's rebound fm a one-month low of 88.70 (NZ) y'day suggests recent decline fm 92.16 has made a temp. low, as renewed selling below indi cated res at 89.51 has capped recovery, 'one more' fall twd 88.55 is likely b... | | |
| Australian Economy grows at fastest rate in two years
March 3, 2010 at 8:29 AM
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| | THE economy grew at 0.9 per cent in the three months to the end of December, its fastest pace since the March quarter 2007, the quarterly national accounts released today showed. The Australian Bureau of Statistics (ABS) data showed gross domestic product (GDP) grew 2.7 per cent in the year to D... | | |
| Australia GDP Growth Accelerated to 0.9% Last Quarter
March 3, 2010 at 7:55 AM
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| | Australia's economy grew in the fourth quarter at the fastest pace in almost two years, underscoring the central bank's decision yesterday to boost borrowing costs for the fourth time in five meetings. Gross domestic product climbed 0.9 percent from the third quarter, when it gained a revised 0.... | | |
| U.K. Consumer Confidence Reaches Two-Year High, Nationwide Says
March 3, 2010 at 7:47 AM
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| | U.K. consumer confidence jumped in February to a two-year high after the economy exited its worst recession on record, Nationwide Building Society said. The index of sentiment increased six points from the previous month to 80, the customer-owned lender said in an e- mailed statement today. A ga... | | |
| UK Feb Consumer Confidence Hits Highest Level In Over 2 Years
March 3, 2010 at 7:45 AM
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| | UK consumer confidence in February rose for the second consecutive month to hit its highest level since January 2008, according to the Nationwide Consumer Confidence survey. The Nationwide Consumer Confidence Index rose to 80 in February from 74 in January and there was also some upward momentum ... | | |
| April Gold Surges to Major 50% Level
March 3, 2010 at 7:35 AM
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| | The impending weaker Dollar helped to boost April Gold on Tuesday. The rally tested a major 50% price at $1136.75. Regaining this level will be a sign of strength and could trigger a further rally to $1158.50. The recent weakness in the British Pound and Euro has put gold at an all-time high in... | | |
| Euro Posts Closing Price Reversal Bottom; Appears Ready to Turn Trend
March 3, 2010 at 7:34 AM
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| | The EUR USD posted a closing price reversal bottom after positive comments from Greek officials encouraged weak shorts to lighten up their positions. After touching a new low for the year overnight, the EUR USD turned around as the lack of fresh selling pressure scared some of the weaker shorts out... | | |
| UK Feb Shop Price Inflation Drops; Fresh Food Deflation - BRC
March 3, 2010 at 7:28 AM
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| | UK shop price inflation declined in February, with food price inflation falling to a record low level due to base effects, according to the British Retail Consortium-Nielsen Shop Price Index. The overall Shop Price Index was up 1.7% on the year in February, down from 2.3% in January. This was dr... | | |
| UK Consumer confidence at highest level for two years
March 3, 2010 at 7:21 AM
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| | New data will today reveal encouraging signs of recovery in the labour market and consumer sentiment, with the latest Nationwide Consumer Confidence survey and the Report on Jobs from the Recruitment and Employment Confederation and KPMG both showing positive trends. Confirming official labour ... | | |
| Services Industry in Australia Contracts at a Slower Pace in February
March 3, 2010 at 7:07 AM
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| | Australia's services industry shrank in February at a slower pace amid rising demand among banks and transport companies. The performance of services index rose 0.9 points to 48.3 from January, Commonwealth Bank of Australia and the Australian Industry Group said in Sydney today. A figure below ... | | |
| The Dollar nears it's cyclical Ides of March
March 3, 2010 at 6:08 AM
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| | below I have inserted a chart of the dollar going back 20 years. In it I have inserted the 3 year cycle which you see is very consistent. Notice that the next year plus time zone in the 3 year cycle has not been kind to the dollar over the last 20 years. It is possible that the pattern has changed... | | |
| Euro Rises From 10-Month Low as Greece to Set New Deficit Cuts
March 3, 2010 at 5:03 AM
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| | March 2 (Bloomberg) -- The euro rose from its lowest level against the dollar since May after the Greek government said it will announce new deficit cuts tomorrow, increasing speculation that a solution to its debt crisis may be nearing. The Canadian dollar surged after the nation's central bank ... | | |
| Is the Carry Trade Alive Again?
March 3, 2010 at 4:56 AM
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| | Don't you miss the glory days of the carry trade? Just buy a currency with a high interest rate, and sell one with a low interest rate and just watch your account grow, but then around the world interest rates zoomed toward zero. The Forex market lost its compass. Now we are here waiting around f... | | |
| No end in sight to sterling slump
March 3, 2010 at 4:30 AM
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| | Sterling remained under intense pressure amid continuing concerns over a hung Parliament which could derail plans to dig the country out of its current fiscal hole. The pound remained broadly flat against the dollar after plunging by 4 cents on Monday to a ten-month low, but stayed below the key... | | |
| Greece Said to Announce $6.5 Billion in Deficit Cuts
March 3, 2010 at 4:24 AM
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| | The Greek government will announce as much as 4.8 billion euros ($6.5 billion) of additional deficit cuts tomorrow, bowing to pressure from the European Union and investors to do more to tame the region's biggest shortfall, a person familiar with the plan said. The new measures will include high... | | |
| ForexLive US wrap-up: Lots of volatility but not much new ground
March 3, 2010 at 4:23 AM
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| | * Bank of Canada leaves rates unchanged at 0.25% , risks roughly balanced * Fitch: UK should aim to cut deficit to 3% by 2014 * KC Fed's Hoenig: Fed should raise rates to 1%, but not suddenly; must be prepared to hike while unemployment still high * BOE to issue 3-year bonds denominat... | | |
| USDJPY: Strong View
March 3, 2010 at 3:59 AM
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| | As you by now well know I am fundamentally bullish USDJPY for the long term. Leaving aside the fundamental economic problems of the Japanese economy, the BOJ has recently pretty much committed to pursue QE until they can somehow manufacture inflation, the debt to GDP ratio is 200% and rates are at 0... | | |
| New Forex Information Portal
March 3, 2010 at 3:50 AM
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| | There is a new site called Forex Pop which has a composite list of some of the best blogs on Forex Trading. Winners Edge Trading is pleased to be part of the list in which all of our newest posts will be put on the front page of Forex Pop. This is a page where a forex trader could book mark and t... | | |
| CAD Extends Advance, NZD Bucks Trend
March 3, 2010 at 2:44 AM
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| | The Canadian dollar extended the rally from Monday and remains the best performing currency against the greenback, while the New Zealand pared the previous day's advance and slipped back below the 200-Day SMA (0.6950) to reach a low of 0.6924. | | |
| Stocks Holding Gains but Rally is Slowing.
March 3, 2010 at 1:59 AM
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| | U.S. equity markets are trading higher, but the rally appears to be slowing due to the lack of fresh buyers. Strong overnight support led to a higher opening this morning, but the rally has stalled. | | |
| Dollar Mixed; Euro May Post Reversal Bottom
March 3, 2010 at 1:58 AM
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| | The U.S. Dollar is trading mixed against most majors as traders try to decide whether it has reached the end of the rally, This morning's surge to the upside in the March Dollar Index fell short of the recent main top at 81.43 before turning lower. This is an indication that the selling may be... | | |
| Dollar Mixed; Euro May Post Reversal Bottom
March 3, 2010 at 1:56 AM
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| | The U.S. Dollar is trading mixed against most majors as traders try to decide whether it has reached the end of the rally, This morning's surge to the upside in the March Dollar Index fell short of the recent main top at 81.43 before turning lower. This is an indication that the selling may be... | | |
| How to Not Lose Your Entire Account
March 3, 2010 at 1:29 AM
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| | Have you ever blown an account? I've never met a trader that hasn't. The scenario usually plays out like this. You have a few profitable trades under your belt and you get a bit of confidence, and you see what you believe is another good trade, but it begins to go against you. No problem, "It will... | | |
| Euro Off 9-1/2 Month Low; Canadian Dollar Gains
March 3, 2010 at 12:29 AM
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| | The euro was little changed versus the dollar Tuesday after hitting a 9 1/2-month low earlier as investors awaited Greece's new austerity plans to tackle its debt crisis. Sentiment on the single currency remained negative, analysts said, with Greece's biggest public sector union calling for a 24-... | | |
| BOE Plans to Sell 3-Year Bonds in Dollars
March 3, 2010 at 12:14 AM
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| | The Bank of England said it plans to sell three-year bonds in dollars to finance its foreign-exchange reserves. The U.K. central bank hired Barclays Capital, BNP Paribas SA, Goldman Sachs Group Inc. and JPMorgan Chase & Co. to manage the issue, which will be benchmark in size, it said in a statem... | | |
| British House Prices Probably Won't Fall This Year, RICS Says
March 2, 2010 at 11:50 PM
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| | U.K. house prices probably won't fall this year as the shortage of homes and low interest rates support the property market, the Royal Institution of Chartered Surveyors said. "With housing supply continuing to be tight and interest rates likely to remain low, it seems unlikely that prices will ... | | |
| BOE Must Eventually Face Day of Reckoning
March 2, 2010 at 11:48 PM
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| Another Monday, another percent in the S&P 500. Like Colt .45, the legend of Magic Monday works every time. Tuesday, however, is a different story; although equities are largely unchanged on the day, news that Greek public sector workers are planning to strike in protest of the government's... | | |
| Chart of the Day - 3/02/2010 – USD/JPY
March 2, 2010 at 11:43 PM
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| Price action on USD/JPY, a daily chart of which is shown, has just formed a tight consolidation after having made a strong bearish run in late February. This occurs within the context of a continuing parallel downtrend channel that has been in place since the 2009 high in April. Having just... | | |
| Currensee now supports Oanda
March 2, 2010 at 11:30 PM
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| | Currensee, Inc., the first Forex trading social network connecting traders from around the world based on real-time trades, today announced the first of its kind, real-time support for OANDA utilizing the OANDA API. This secure, automatic connection enables OANDA traders from around the world to... | | |
| Dollar May See 'Deeper Pullback' Versus Yen: Technical Analysis
March 2, 2010 at 11:28 PM
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| | March 2 (Bloomberg) -- The dollar remains in a downtrend against Japan's currency and may weaken below 87 yen, JPMorgan Chase & Co. said, citing trading patterns. The greenback faces "an important test" this week with a potential decline below the 88.55 to 88.25 yen level targeting a move to as l... | | |
| Aussie Rides the Rate Hike
March 2, 2010 at 10:46 PM
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| | The Australian dollar enjoyed the rate hike and approached a technical resistance line. A break of this line depends mostly on the upcoming GDP. Update on technicals and fundamentals of this strong currency. | | |
| Bank of Canada holds rates, sees no early hike
March 2, 2010 at 10:44 PM
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| | The Bank of Canada held its key interest rate unchanged on Tuesday at the all-time low of 0.25 percent, as expected, and upheld its conditional commitment to keep rates at that level until the end of June. While acknowledging stronger-than-expected economic growth and inflation, the bank also sug... | | |
| Canada Keeps Lending Rate 0.25%, Cites Faster Prices
March 2, 2010 at 10:35 PM
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| | The Bank of Canada kept its benchmark interest rate at a record low today, and said that inflation and economic output have been higher than policy makers expected, signaling rate increases in coming months. The target rate for overnight loans between commercial banks remained at 0.25 percent, wh... | | |
| EU Comm: Clear Need For More Greece Steps; No Talks Of Rescue
March 2, 2010 at 10:28 PM
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| | The European Commission sees a clear need for the Greek government to take additional measures to cut its budget deficit and did not discuss plans to bail out the debt-stricken country during a visit to Athens Monday, a spokesman for the Commissioner for Economic and Monetary Affairs, Olli Rehn,... | | |
| Optimism Continues to Support Stock Market Rise
March 2, 2010 at 10:19 PM
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| | Investor optimism over a resolution to the sovereign debt problem in Greece and improvements in the U.S. economy are helping to boost U.S. equity markets following a change in trend to the upside on Monday. Traders expect the trend to continue today as the charts indicate very little resistance to... | | |
| Political Uncertainty, Debt Concerns Send British Pound Down Sharply
March 2, 2010 at 10:19 PM
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| | The GBP USD plunged following reports that a poll indicated that the minority party may win the upcoming election. Such a move will mark the first time since 1974 that the minority party has gained such power. Investors feel that this drastic change will stall the country's efforts to shore up the U... | | |
| Geithner Leading Search for Fed Vacancies Points to Support for Bernanke
March 2, 2010 at 9:38 PM
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| | The search to fill vacancies at the Federal Reserve is being led by President Barack Obama's Treasury secretary and chief economic adviser, indicating Chairman Ben S. Bernanke will get support for his policies as he tries to sustain growth while withdrawing monetary stimulus. Donald Kohn, 67, sa... | | |
| FXCM Greece opens up
March 2, 2010 at 9:20 PM
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| | Looks like FXCM doesn't stop even for a second. Less than a month since launching another East European client with Czech Patria Direct using its Trading Station platform FXCM now expands into the Mediterranean and opens a local office in Greece which until now wasn't a very known Forex hub. With... | | |
| BOC Statement
March 2, 2010 at 9:01 PM
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| | The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent. The Bank Rate is unchanged at 1/2 per cent and the deposit rate is 1/4 per cent. ... | | |
| EUR wait and see for Greece
March 2, 2010 at 8:14 PM
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| | Despite the crowded sterling trade, the expected RBA rate hike, the general malaise of the EUR, Capital markets are twiddling their thumbs in a 'wait and see mode'. This week, barring today's BOC rate announcement, we have the ECB and BOE to ponder on Thursday and the 'crème de la crème' Friday's... | | |
| ForexLive European Morning Wrap: Busy morning. USD gives up early strength
March 2, 2010 at 8:02 PM
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| | ForexLive European Morning Wrap: Busy morning. USD gives up early strength By Gerry Davies || March 2, 2010 at 12:53 GMT || 0 comments || Add comment Swiss Q4 GDP +0.7% q/q, +0.6% y/y, stronger than median forecasts +0.4%, -0.4% respectively Greek public sector union calls 1-day strike again... | | |
| U.S. Auto Sales May Hit 'Speed Bump' on Snow, Toyota
March 2, 2010 at 8:00 PM
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| | Toyota Motor Corp.'s recalls and snowstorms across the U.S. may have slowed the rebound in auto sales in February, keeping some shoppers out of showrooms and dashing the industry's hopes for bigger gains. Toyota's deliveries probably fell 10 percent to drag the company to its lowest U.S. market s... | | |
| Daily Technical Strategist: EURUSD
March 2, 2010 at 7:46 PM
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| | EURUSD: Pressure Remains Towards The 1.3442 Level And Beyond. EURUSD: Although a reversal of most of its intraday losses is currently seen, we will like to see the pair strengthen further through the 1.3682/91 levels to give us | | |
| Snow Slows February US Auto Sales, Dealers Say
March 2, 2010 at 7:38 PM
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| | Bad weather and worse public relations dented U.S. new vehicle sales in February, slowing the pace of the struggling industry's nascent recovery, according to auto dealers. For many dealers, more inventory meant stronger sales in February vs. miserable year-ago business, but others said unusuall... | | |
| Collapse of the Pound, State of Euro and more, on the Video Outlook
March 2, 2010 at 7:19 PM
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| | In the weekly interview on Forex TV, I spoke with Julie Sinha about the collapse of the Pound, the factors that will influence the Euro, American Non Farm Payrolls and more events. In addition, I covered expected technical breakouts, including some the EUR/AUD cross as well. Enjoy! | | |
| Daily strategy - Sell Sterling rallies
March 2, 2010 at 7:08 PM
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| | There will be continuing fears over the UK government debt situation, especially as there is likely to be further speculation that the UK AAA credit rating will be downgraded. Potential selling pressure will tend to increase when there are increased fears over an indecisive general election result.... | | |
| European Inflation Slows on Weakening Recovery
March 2, 2010 at 6:58 PM
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| | March 2 (Bloomberg) -- European inflation slowed in February after rising unemployment and a weakening recovery prompted households to scale back spending. Consumer prices in the 16-nation euro region rose an estimated 0.9 percent from a year earlier after increasing 1 percent in January, the Eur... | | |
| EU Sets Clock Ticking on Greece as Merkel Talks Near
March 2, 2010 at 6:46 PM
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| | March 2 (Bloomberg) -- The European Union set the clock ticking on Greece's attempts to cut the bloc's largest budget deficit. As Prime Minister George Papandreou prepares to meet Germany's Angela Merkel on March 5, EU Monetary Affairs Commissioner Olli Rehn yesterday said Greece must reveal new ... | | |
| FOREX, COMMODITIES, STOCKS QUICK OUTLOOK March 2nd : Cliff's Two Minute Drill
March 2, 2010 at 6:30 PM
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| | NB: THE FOLLOWING IS AN ABRIDGED VERSION FOR A FAST OVERVIEW OF ALL MAJOR GLOBAL STOCK, FOREX, AND COMMODITY MARKETS -- FULL ANALYSIS AND CHART ILLUSTRATIONS OF RECOMMENDED TRADES GO TO http://fxmarketanalysis.wordpress.com/ AND SELECT "DAILY OUTLOOK" FOR TODAY Stocks: Prior Day: Asia down, Europ... | | |
| FOREX, COMMODITIES, STOCKS OUTLOOK March 2nd:Analysis, Key Events, Trends, Trades
March 2, 2010 at 6:27 PM
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| | Stocks: Prior Day: Asia down, Europe, USA up Today: Asia, Europe up. Risk Rally struggles, overcoming bad data from the US, on positive Asia results. Many Daily Charts near or penetrating Strong Support/Resistance as risk assets reverse higher. - FX: Short term bias to risk currencies vs. risk c... | | | | 
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