January 2013 | Archive | News | FX Trading

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January 2013 News Archive

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Euro jumps against the greenback30 Jan at 2 PM

The euro has settled just below $1.35 as positive economic data is released from Germany and things seem to be improving for banks across Europe. The Federal Reserve is also expected to announce that quantitative easing will last beyond this year, something that will drive the dollar down. At one point the euro hit $1.3496, the highest it...

Yen remains strong despite BOJ stimulus plans23 Jan at 9 AM

Plans announced by Bank of Japan to kick start the economy did not go as far as many analysts were expecting resulting in the yen holding its own against the dollar and the euro. Although the bank intends to double its inflation target and introduce asset buying at the beginning of next year the moves have not provided immediate...

Yen makes gains as the euro drops16 Jan at 9 AM

Following a meeting by the European Central Bank last week that resulted in positive comments about the state of the euro by president Mario Draghi, the single currency lost recent gains by dropping against both the yen and the dollar. Support by Draghi has been offset by Eurogroup chief Jean-Claude Juncker who warned that euro was too...

Euro drops ahead of ECB meeting9 Jan at 9 AM

The value of the euro has dropped ahead of a meeting by the European Central Bank that is likely to result in rates being kept on hold. There is also talk that France is looking at having its debt rating downgraded. However, a spokeswoman for the French Finance Ministry said the rumours were unfounded. The currency has remained steady as...

Fiscal cliff avoidance causes dollar to drop2 Jan at 10 AM

A deal between the White House and Congress over spending cuts and increasing the tax on America’s wealthy has driven the value of the dollar down but will mean the US will avoid sinking back into recession. The greenback retreated by 0.4 per cent against a number of other major currencies. Positive feeling about the state of the global...

Euro off recent profit taking peaks30 Jan at 6 PM

The euro came off the six-week highs it achieved against the dollar today, with investors taking profits made on the currency's strongest weekly rally for more than a quarter while awaiting a debt deal to be agreed by the Greek government and its private creditors. As reported by Reuters, tension concerning Greece increased after there...

Euro hits five-week high against the dollar27 Jan at 6 PM

Speculation of development in Greek debt negotiations combined with the outcome of the U.S. Federal Reserve’s policy meeting allowed the euro to reach a five-week high compared to the dollar on Thursday The dollar was weakened by the Fed’s conclusion to keep that interest rates at very low levels for at least the next two years....

Dollar stays off post Fed levels26 Jan at 6 PM

The dollar steadied in Asia on Thursday, giving back a fraction of its gains versus the Japanese yen, but losses were experienced against other rivals as more dovish-than-anticipated outcomes to the Federal Reserve's most recent meeting started pressuring it overnight. As reported by Reuters, the Federal Reserve's Chairman Ben Bernanke...

Yen Slightly Down25 Jan at 6 PM

The yen reached a one-month low against the US dollar, with it’s greatest drop in a day since October. However traders do not expect follow-through sales as many people will wait for the imminent conclusion of the Federal Reserve's policy meeting and financial centres in Asia are still closed for the Chinese Lunar New Year holidays,...

Euro back down after Greek obstacle24 Jan at 11 AM

The euro is back down after a three-week peak compared to the dollar, after finance ministers in the euro zone rejected an offer to restructure Greek debt by private creditors, with many still fearing a default. At its lowest, the euro was worth just $1.2988, but steadied at $1.2995, as reported by Reuters. On Monday, it increased more...

Euro falls as Greece fails to agree with creditors23 Jan at 2 PM

The euro has slipped over the weekend from $1.2930 on Friday, to $1.2882 as a debt swap deal has failed to materialise in Athens following talks with creditors. A positive result is needed if Greece is to avoid a damaging default. Trading in Asian territories such as Singapore, Hong Kong and China is expected to remain subdued because of...

Euro remains high ahead of China report20 Jan at 12 PM

The euro is continuing to hold against the yen and the dollar following a bonds sale in Spain, and as risk sentiment is boosted in France. However, maintaining a two-week high is likely to depend on how HSBC reports on manufacturing in China since the beginning of the year. The euro has managed to hit $1.2972 having plunged to a 17-month low...

Aussie dollar hits high against pound19 Jan at 4 PM

The Sydney Morning Herald has reported how Australian travellers and UK expats must be cheering, in the wake of the AUD hitting its highest rate in 27 years against the pound. The AUD rose to 67.96 pence last night, which is its highest recorded level since 1985, before hovering around that mark today. In the last three years, the dollar...

Euro registers a slight rise18 Jan at 12 PM

The euro has rallied slightly as appetites were stoked by strong data from China and a survey of German economic sentiment which was better than previously anticipated. Commodity currencies have also advanced. The single currency has also been given a much needed leg-up by a treasury-bill auction in Spain which saw strong demand. However,...

EU bailout fund downgraded17 Jan at 4 PM

Credit ratings experts Standard & Poor's today downgraded the EU's bailout fund from AAA to AA+, as reported by BBC News. The EFSF, or European Financial Stability Facility, bases its rating on ratings of the nations that guarantee it. The downgrade of both Austria and France by S&P on Friday meant that there weren't enough AAA...

Euro struggles on Asian markets 17 Jan at 2 PM

The euro had trouble maintaining the headway it had made in Asian markets today. The common currency had fared well in short-covering, but anxiety over Greek debt crisis meetings and the upcoming auction of Portuguese bonds caused traders to exercise caution. The euro settled at $US1.2775, a climb of 0.2 per cent, which was short of the...

US dollar recovers in major trading 16 Jan at 2 PM

The US dollar pulled out of its downward slide in early trades in the US today. The ongoing crisis in euro using countries is believed to have tipped trading sentiment back towards the greenback. In dollar trading against the euro during the morning, the greenback showed 1.2807, but recovered and hit 1.2736. Earlier, the euro had gained...

Euro still under pressure15 Jan at 2 PM

In early Asian trading today, the European common currency was still under duress following credit ratings downgrades of some of its members. Standard & Poor removed AAA statuses from France and other eurozone countries on Friday. Stalled debt talks between the Greek government and a number of its international creditors have...

US Dollar hits new highs14 Jan at 2 PM

The US dollar climbed yesterday following France’s confirmation that its triple A credit rating was about to be downgraded. France's Finance Minister corroborated the rumour that Standard & Poor was going to cut back the country’s credit risk level. The euro spent most of the day in steady decline against the dollar as rumours...

Bond sales help Asian euro rally11 Jan at 2 PM

Successful Spanish and Italian debt sales helped the euro stay steady in Asian trading today. The euro peaked at $US1.2846, which was well above the 16-month low set on Wednesday when it dropped to $US1.2660. Yesterday’s debt sales by Spain saw it offload double the amount of bonds that had been forecast at lower rates. The Italian...

Dollar continues gains on Euro10 Jan at 2 PM

The dollar extended its gains over other major currencies yesterday as worries over euro zone debt problems created demands for the security of the greenback. In US trading yesterday morning, the dollar rose steadily against the euro and peaked at 1.2694. The fall of the euro was sparked when Fitch Ratings stated that the European...