August 2012 | Archive | News | FX Trading

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August 2012 News Archive

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Euro down slightly before Jackson Hole meeting30 Aug at 9 AM

The euro dropped slightly against the dollar yesterday, but most investors are holding on to the hope that the ECB will soon announce concrete steps to tackle the region’s debt crisis. There was little movement in major currencies on Wednesday as traders hunkered down to wait for tomorrow’s key speech from Federal Reserve chairman Ben...

German government criticised Greece bullying28 Aug at 9 AM

Members of the German government have criticised a politician for “bullying” Greece in regards to the Eurozone crisis. Chancellor Angela Merkel said that words should be weighed carefully after her political ally and leader of the Christian Social Union, Alexander Dobrindt, said he expects Greece will have the leave the euro by...

Euro rally ends after four days27 Aug at 9 AM

The euro ended a four-day rally against the dollar on Friday after hitting a high of seven weeks on Thursday. Investors are still optimistic about the common currency, however, as Eurozone leaders seem to be moving towards tackling the debt crisis. The single currency was down 0.3 per cent from Thursday’s high of $1.2590 yesterday, the...

Merkel and Holland meet to discuss Greek debt extension23 Aug at 11 AM

The French are German leaders are due to meet today in Berlin to discuss whether or not Greece will be given more time in order to make the cuts required by its bailout package. Francois Holland, the French president and Angela Merkel, the German Chancellor will also meet Greek Prime Minister Antonis Samaras after Jean-Claude Juncker, the...

Euro clings on but remains vulnerable21 Aug at 10 AM

Despite doubts about whether policymakers and debt-stricken Eurozone countries can come to an agreement this week, the euro remained steady today and stood little changed in Asian trade at $1.2358. This is down from the high of 6 August when the ECB announced that it would lower borrowing costs for Spain and Italy, and the euro still appears...

Euro loses ground on the US dollar18 Aug at 2 PM

The euro’s recent rally was brought to an end on Friday after the currency lost ground on the US dollar but managed to stay relatively even against the yen. The single currency had enjoyed a strong week, with gains accelerating on Thursday after German Chancellor Angela Merkel hinted that there are no disagreements among the region’s...

Dollar gains more ground on the yen16 Aug at 9 AM

Early trading in Asia on Thursday saw the dollar hit a one-month peak versus the yen, climbing further ahead after strong US data this week led to Treasury yields rising and calmed hopes of the Federal Reserve kicking off a new round of quantitative easing. Data released on Wednesday was largely positive as the US industrial output went up...

Euro rises for second consecutive day14 Aug at 4 PM

The euro enjoyed a second successive day of growth on Tuesday, boosted by positive growth data from France and Germany. However, these temporary gains could be short lived as the wider euro bloc remains in a worrying slowdown. Germany released data which showed gross domestic profit had risen by 0.3 per cent over the second quarter, while...

USD/JPY down on fading ECB hopes and growth fears11 Aug at 9 AM

The US dollar lost ground on the Japanese yen on Friday, with renewed global growth worries and fading optimism over whether the European Central Bank would inject fresh stimulus to support struggling euro zone countries. USD/JPY fell to a daily low of 78.40 in European trading, but subsequently recovered to hit 78.42, 0.18 per cent down...

Yen rises before Bank of Japan summit9 Aug at 9 AM

The Japanese yen gained ground on both the euro and the US dollar on Wednesday on the likelihood that the Bank of Japan will opt against launching new action that would weaken the country’s currency at Thursday’s summit. The BOJ has remained calm since April, when it shocked the market by implementing a larger-than-predicted asset...

Euro performing well against dollar7 Aug at 2 PM

The euro rose once more on Tuesday, remaining close to a one-month high versus the dollar and boosted by increased optimism that the European Central Bank is set to launch measures in the near future to reduce Italy and Spain’s borrowing costs. Mounting hopes that the central bank could act by September to lower the embattled nations’...

US jobs data sees dollar fall and euro climb4 Aug at 2 PM

The dollar lost ground on Friday as better-than-anticipated jobs growth in the US in July and optimism that European authorities may be able to contain the bloc’s debt crisis had investors swaying towards risk, leading to the highest daily euro gain for a month. The single currency had already started to climb before the jobs data was...

Euro up as markets predicts ECB action2 Aug at 3 PM

The euro gained ground on the dollar today as investors hedged their bets on the European Central Bank announcing further measures to tackle the euro zone’s debt crisis. Analysts said that investors were waiting to hear whether Mario Draghi, the president of the European Central Bank, delivers strong crisis-fighting plans after his...