February 2012 | Archive | News | FX Trading

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February 2012 News Archive

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Euro investors watch Italy27 Feb at 9 AM

The political stalemate created by the elections in Italy has resulted in increased borrowing costs for the struggling nation. Investors a now looking to see what impact the situation will have on a 10-year bond auction. The results will give investors a clue as to which direction the euro will go in. The single currency lost 0.1 per cent...

Yen firm as euro drops20 Feb at 9 AM

Positive economic data coming out of Germany gave the euro a brief boost before the single currency dropped against fears that a fragmented government in Italy following elections at the weekend could damage reform plans. The euro was also hurt by reports that recession across the eurozone could be deeper than anticipated. Following a high...

Yen devaluation not meant to hit exchange rates13 Feb at 12 PM

As Japan continues to implement policies to weaken the yen the G7 group has announced that it will not be targeting lower exchange rates. Finance ministers said exchange rates should not be manipulated and should be governed by market forces. A statement has been released in which central bank governors and ministers said they agreed that...

Euro up on positive economic data6 Feb at 9 AM

Encouraging economic data coming out of the eurozone and the expectation that the European Central Bank will remain steady with its current policy when it meets on Thursday saw the euro continue to gain strength. Business optimism saw the single currency reverse its dip against political uncertainty in Italy as the country approaches...

Euros hopes rest on ECB29 Feb at 6 PM

The euro slipped up on Wednesday due to hopes European banks will go for the cheap three-year cash offered by the European Central Bank, which strengthened risk appetite. The euro moved 0.1 per cent up to $1.3476, having already ascended 0.5 per cent on Tuesday. It stayed near a two and a half month peak of $1.3486 which was set last...

Euro drops slightly due to profit taking28 Feb at 6 PM

The euro suffered modest losses on Tuesday, but the yen kept overnight gains before more cheap cash from the ECB floods in that could increase risk appetite and put pressure back on the yen. Standard & Poor's decision to cut Greece’s ratings to 'selective default' did not cause surprise as Athens' exertions to decrease its debt was...

Yen drops further, euro stays firm27 Feb at 6 PM

The yen dropped to a seven-month low compared to the dollar, while the euro stayed firm due to investors continuing to relax negative bets before of a new injection of money by the ECB. The Japanese currency has faced pressure since the shock relaxing by the Bank of Japan a few weeks ago, and had dropped to depths not witnessed since...

Euro hovers at two and a half month high24 Feb at 6 PM

The euro lingered at a two and a half month high yesterday, keeping the gains it made the day before following data on successful German business feeling made traders cover their short-term positions. The single currency improved one per cent the day before, spiking well over the Ichimoku cloud, and breaking its 90-day average after...

Yen and pound under pressure23 Feb at 6 PM

The yen dropped in Asia on Thursday, after hitting a seven month low against the dollar, while the pound also struggled following the Bank of England’s February policy meeting’s minutes being more dovish than expected. These factors helped the euro stay steady, even after surveys by PMI suggested the euro zone might may well slide...

Euro levels against dollar22 Feb at 6 PM

The euro levelled against the dollar, after almost hitting a two-week high, as financiers' focus changed to the problems associated with implementing the Greek bailout package and its implications for the economy of the euro zone. Finance ministers of the euro zone agreed on a 130-billion-euro ($172 billion) bailout to stop a default next...

Small rise for euro with Greek deal expected21 Feb at 6 PM

The euro increased on Monday due to expectations that policymakers in the euro zone will approve Greece's second bailout but concerns over how the deal will be implemented and loose monetary policy in the euro zone will probably cap any gains in the common currency. Analysts predicted the bailout deal worth 130 billion euro to be signed...

Hague claims eurozone was built with no exits20 Feb at 6 PM

William Hague, the UK Foreign Secretary, warns of problems for Greece if it abandons the euro. He told Andrew Marr that the country will have to prepare to take action to prevent euros from leaving the country, perhaps even setting up border controls, reports the BBC. Finance ministers of the Eurozone will discuss a bailout package...

Euro gains due to Greek hopes17 Feb at 6 PM

The euro stuck to gains in Asia, having climbed due to hopes that Greece is about to clinch a second bailout package, while better risk appetite lowered the yen. The single currency stayed at $1.3132, after rebounding from a three-week low around $1.2973. It found support at $1.2975. Traders said positive news about Greece could allow the...

Mixed US data trims USD CAD losses16 Feb at 6 PM

The dollar clipped losses compared to the Canadian dollar on Wednesday, following mixed economic data from the States, while investors persisted to watch Greece’s movements towards a second bailout. USD/CAD moved back from 0.9939, the lowest since February 9 for the pair, hitting 0.9965 which is still down 0.24 per cent, reports the...

Italy, Spain and Portugals credit ratings cut15 Feb at 3 PM

Ratings agency Moody's has lowered the credit ratings of a number of Eurozone countries including Italy, Spain and Portugal. Other countries that have been downgraded include Slovakia, Slovenia and Malta. France, Britain and Austria have been put on a "negative outlook", which suggests there is a 30 per cent chance of a reduction...

Euro gains after Greek deal14 Feb at 6 PM

The euro increased against the dollar a day after Greece accepted new austerity measures, but there are still concerns about difficulties in the country's bid to circumvent a disorderly default, which limited gains. The Greek parliament accepted a package of wage, job cuts and pensions on Sunday, furthering hopes Athens will secure more...

British Expats turn to dollar13 Feb at 6 PM

Many British savers are demanding accounts that are dollar-denominated, claims Lloyds TSB International. The high street bank has recently nearly doubled the rate that it offers on one-year fixed-rate accounts that are in dollars from 1.5 per cent to 2.8 per cent, reports the Telegraph. Nicholas Boys Smith of Lloyds TSB International...

Euro near two month high10 Feb at 6 PM

The euro stuck to recent gains, trading near the two-month high compared to the dollar and yen following Greece’s agreement to the deal on reforms, which is necessary to avoid a chaotic default which would destabilise the euro zone. But investors questioned whether Greece will actually adhere to the harsh demands in the package and...

Euro drops as Greece doesn’t sign deal9 Feb at 6 PM

The euro dropped from a two-month high when Greek political parties did not sign off austerity measures, although hopes that a deal will be struck shortly did limit the damage. Lucas Papademos, the Greek prime minister, said in a statement that political leaders are in agreement on all of the points related to the bailout package except...

Dollar falls again8 Feb at 4 PM

The dollar dropped against the majority of its counterparts on Tuesday as investors embraced risk due to reports of a second Greek bailout package. The dollar fell against the euro to 1.3244, a 0.87 per cent loss. This was due to reports that officials in Greece are completing a final draft of the bailout, and there will be a meeting...

Pound up on the dollar7 Feb at 6 PM

The pound gained against the dollar on Monday, due to upbeat euro zone data, however sterling is still under pressure over concerns of the result of Greek debt talks. GBP/USD came back from 1.5729 to 1.5761, down 0.33%, reports Forex Pros. This was boosted by official data from Germany, which showed that German factory orders increased...

FOREX Euro weakens as Greek deadline approaches6 Feb at 6 PM

As reported by Reuters, risk sentiment and the euro weakened slightly first thing Monday morning in Asia as markets became anxious about the impending deadline for Greece to secure a second rescue package. Greece's coalition parties are due to tell the EU by today whether they agree to the difficult terms offered in a new bailout package...

FOREX-G3 currencies subdued in US jobs test lead up3 Feb at 3 PM

Major global currencies have been subdued as investors backed off in the lead-up to a US job report which could reinforce the risk sentiment seen recently, or unravel it, reports Reuters. Markets were also concerned of a potential official intervention to weaken the Swiss franc and the yen, after Swiss and Japanese authorities indicated...

FOREX Euro sees massive losses while China PMI rises2 Feb at 6 PM

The euro experienced massive losses in Asia early on Wednesday after a hectic overnight sell-off destroyed days of hard-sought gains, as investors remained cautious about Japanese intervention to control the strong yen. As Reuters reports, the stock market's current focus is on China's manufacturing industry report for January, in which...

Dollar under pressure as appetite for risk increases2 Feb at 12 PM

The dollar dropped against the yen, reaching a new three-month low for a third day in a row, increasing the prospects of Japan acting to weaken the yen. The greenback also dropped against the euro following the release of manufacturing data from a number of countries including Germany and China, which increased risk sentiment. The...

euro up thanks to Greek debt hope1 Feb at 9 AM

The euro climbed on Tuesday thanks to hopes of a debt restructuring deal in Greece that will prevent a disorderly default. The dollar increased it's recent losses against the yen, hitting a three-month low, as it is still under pressure following the Federal Reserve’s decision to maintain interest rates extremely low until late 2014,...