July 2013 | Archive | News | FX Trading

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July 2013 News Archive

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Dollar down ahead of Fed meeting31 Jul at 9 AM

The dollar has dropped against the euro as investors and analysts expect the Federal Reserve to continue its loose monetary policy. Recently the greenback rallied because Fed chairman Ben Bernanke suggested that quantitative easing could be reined in on the back of positive growth in the US economy. However, second quarter gross domestic...

US dollar in the doldrums24 Jul at 9 AM

A basket of major currencies has been given a boost as the US dollar remains weak. However, just how weak the greenback remains will depend of Chinese data due to be published today. If the second biggest economy on the planet shows disappointing growth, investors are likely to return to the dollar for comfort. The euro has been given some...

US dollar down 17 Jul at 9 AM

The dollar has weakened as Ben Bernanke, head of the US Federal Reserve, is expected to avoid being too hawkish in front of Congress. Investors are watching closely to see how a tapering back of quantitative easing will eventually impact the markets. The dollar index, a measure of the greenback against a number of other leading currencies,...

Dollar remains strong as pound flounders10 Jul at 10 AM

The US dollar is performing well against a basket of other leading currencies. The strength of the greenback has been aided by a drop in the value of the euro and sterling as the Bank of England and the European Central Bank look like keeping a loose money policy in place for some time to come. Although the ECB has said his comments were...

Dollar expected to strengthen against positive jobs data3 Jul at 9 AM

The release of jobs statistics on Friday will be closely watched by analysts as positive figures will support the Federal Reserve’s decision to look at wrapping up its stimulus programme. Anticipation that the figures will be encouraging has helped boost the strength of the dollar. The greenback was most recently up against the yen by...

Euro creeps up against the dollar31 Jul at 9 AM

The euro climbed higher versus the dollar today but stayed below its recent three-week peak, while the Australian dollar reached a four-month high, helped by expectations that central banks could add more stimulus. The common currency edged up by 0.1 per cent from Monday’s late US trade to $1.2274, but stayed stuck below Friday’s high...

USD/CHF trading around 0.980030 Jul at 4 PM

Following a dramatic fall last week, the USD/CHF rebounded on Monday in European trading, as investors await on news from this week’s Federal Reserve and ECB meetings. The AGE FX Italian team said that in monitoring the spread between the 200-day moving average and the spot price, a very interesting level is approaching. It explained...

Mario Draghi indicates new ECB effort to save euro27 Jul at 11 AM

European Central Bank president Mario Draghi has said his organisation will work to save the euro. The official’s comments, in which he said the ECB would put forth “whatever it takes” to resolve the crisis, created a rally of sorts in European markets on Thursday, with Italy’s primary share index closing at 5.6 percentage points...

Euro vulnerable as weak PMI data darkens outlook26 Jul at 9 AM

The euro lost ground on the dollar yesterday after weak economic data from Germany fuelled concerns over slowing growth in the continent’s largest economy, and seemed set to extend losses on increasing concerns that Spain may require a full bailout. Figures from Germany’s purchasing managers’ index (PMI) arrived a day after the...

Euro exchange rate floats near two-year low25 Jul at 9 AM

The euro neared two-year lows in Asian trading on Wednesday as investors gave it a wide berth following a global stocks sell-off amid increasing fears that troubled Spain could need a full-scale bailout. Mounting Spanish borrowing costs are increasing concerns for the stability of the region and European Union officials revealed that...

Euro struggles on growing Spanish concerns24 Jul at 9 AM

The euro slumped to a two-year trough versus the dollar on Monday and close to a 12-year low versus the yen on concerns that Spain may need a full sovereign bailout. Driving the gloom, Spanish bond yields climbed to their highest mark since the creation of the euro, despite finance ministers in the euro zone approving loan terms of up to...

Dollar gains on escalating Greek debt woes talks23 Jul at 6 PM

The dollar went up against the majority of global currencies in early trade on Monday following weekend reports that Greece is not on course to hit debt targets and may lose its bailout funding access. Increasing Spanish bond yields further fueled greenback demand in what was a risk-off trading session. During Monday morning’s Asian...

Latin American currencies down on Spain bailout concerns20 Jul at 4 PM

Latin American currencies dropped on Friday as mounting fears that Spain would require a full-blown bailout steered investors towards the relatively safe US dollar. The debt crisis in the euro zone appeared to be worsening after the Valencia region in troubled Spain announced it would be requesting the aid of its central government to pay...

Euro steadies against dollar19 Jul at 6 PM

The euro steadied versus the greenback in Asian trading today but stayed under pressure following reports that German Chancellor Angela Merkel spoke of her fears about the debt crisis in the euro zone, a factor which benefitted the safe-haven yen. In an interview published on the website of her Christian Democratic Union party, Merkel said...

AUD/JPY on the up18 Jul at 9 AM

AUD/JPY climbed on Tuesday due to broad Australian dollar purchasing interest on the back of a less dovish than anticipated Royal Bank of Australia minutes release, which revealed that the country’s central bank is not looking to cut rates in the near future. The pairing managed to rise to a high of 81.62 before falling to 81.57 versus...

US dollar down ahead of Bernanke testimony17 Jul at 6 PM

The dollar was marginally weaker against the euro and most other key currencies on Tuesday, prior to Ben Bernanke’s – the chairman of the Federal Reserve – testimony, with investors of the opinion that he would give indications that further monetary stimulus was likely on the back of recent disappointing data from the US. More...

Euro and dollar down16 Jul at 6 PM

The euro fell versus most currencies on Monday, dropping to a three-and-a-half-year low versus the sterling an a six-week low against the yen, as investors worried about the delay in using bailout funds for the troubled eurozone countries. The region’s single currency slipped versus the dollar, although declines were mitigated by...

AUD/USD – China GDP met with bid orders13 Jul at 2 PM

The Australian dollar and its New Zealand counterpart are both on the up even though China’s economic growth dropped below eight per cent during the second quarter of 2010, to a year-on-year of 7.6 per cent. Recently estimates had been downgraded, so although the data fell to a 13-month low, it is not as bleak as some had expected. Since...

AUD/USD holds at 1.0250 before Australian jobs data12 Jul at 10 AM

The Australian dollar was 0.6 per cent higher versus the its US counterpart at close of trade on Wednesday at 1.0250 after hitting a three-day high of 1.0280 on the back of an intraday low of 1.0178. In spite of the greenback’s rally during late trading after minutes from the Federal Reserve meeting hit risk appetite, AUD/USD maintained...

Dollar falls ahead of fed minutes; euro remains weak11 Jul at 4 PM

The dollar lost ground today as the release of US Federal Reserve minutes from June’s meeting neared, with traders and investors wary of hints of a further round of asset buying during the months ahead. The euro remained weak on uncertainty over how policymakers intend to tackle the region’s debt crisis after it emerged that a German...

Eurozone meeting an afterthought in Tuesday trading10 Jul at 4 PM

Last night’s European meeting successfully provided the outline for support of Spain as well as the timescales involved, but the details are not due to be officially laid out until European finance ministers meet for a second time on 20 July. UBS strategy analyst Geoffrey Yu said that talks continued on Tuesday, although with lower...

Euro climbs from two-year low9 Jul at 6 PM

The euro rebounded from a two-year low versus the dollar today, but remained highly fragile on fading hopes that a meeting between eurozone finance ministers on Monday will show any progress in containing the debt crisis in the region. Eurozone finance chiefs will attempt to come up with ideas to reinforce the common currency but their...

Canada dollar hits two-year high against euro6 Jul at 9 AM

The Canadian dollar climbed to a two-year high versus the euro following the European Central Bank’s decision to cut interest rates in order to try and stimulate growth. The loonie hit a seven-week high against the US dollar, as data showed faster-than-anticipated employment growth in the US, Canada’s largest trading partner....

Euro falls broadly after ECB rates cut5 Jul at 4 PM

The euro slumped versus a number of currencies today, including a one-month low versus the dollar, following the news that the European Central Bank had opted to cut its interest rate to an all-time low as well as reduce the deposit rate to zero in order to help combat the debt crisis in the eurozone. Analysts said that even though the...

Euro falls on bond redemptions4 Jul at 11 AM

The euro edged down on bond redemption-related spending today, with some investors out of action because of the US Independence Day holiday, while others geared up for Thursday’s European Central Bank policy meeting. The single currency fell by 0.2 per cent to $1.2588, remaining above the low on Tuesday of 1.2559. Immediate resistance...

Euro falls against dollar ahead of ECB decision3 Jul at 6 PM

The euro lost ground on the dollar on Tuesday as investors hedged their bets on the European Central Bank lowering its benchmark interest rate during its meeting on Thursday due to disappointing eurozone data and concerns over a European plan to help indebted countries. Signs coming from the eurozone were largely discouraging, with...

Euro falls as EU summit optimism calms2 Jul at 2 PM

The euro fell versus the dollar on Monday, losing some ground after delivering its biggest one-day rally for eight months last week, with initial euphoria triggered by a summit agreement to tackle the crisis within the eurozone losing some of its momentum. The single currency climbed by roughly 1.7 per cent on Friday, the biggest one-day...