FXCM - Daily FX
Oanda - Dean's FX
- Week in FX Europe May 13-18
The collapse of efforts to form a Greek government this week has reinforced, for many, the bullish outlook for the big dollar. The run-up to Greek parliamentary elections on June 17 will be marked by continued concerns about a disorderly exit from monetary union. The market currently sees contagion fears making inroads with other periphery economies. Moody’s downgraded sixteen Spanish banks by one to three notches and they still have another eleven EU members to vet by next month. The [...] - Loonie the first to hike?
Canada looks like a safe bet to be the first amongst the G8 members to hike rates. Last month’s inflation figures were a tad stronger than expected, topping Governor Carney’s +2% inflation target. Despite the small breach, no CBank in this stuttering economic environment would be rushing to raise rates. Canada’s outperforming metrics, employment, housing and manufacturing data still have to combat specific external headwinds that scream for extending domestic accommodative policies. The BoC has been very vocal about being [...] - RBA Rate Cut Squeezes AUD
Asian bourses have ended trading, hitting four-month lows as weaker US data added to rising worries over Europe. Commodities and their currency sensitive pairings are not immune to the surround sound of contagion fears. Gold has been able to dig itself out of Monday’s bear market trap, ending on a high, and in the black. The same cannot be said for the Aussie, usually a strong yellow metal supporter, which is seen as higher risk because of the country’s commodity [...] - Greek Contagion Pushes Markets into Red for Year
World shares slid and German borrowing costs hit record lows on Friday as a deepening Spanish banking crisis, uncertainty about Greece’s future in the euro zone and lacklustre U.S. data bolstered safe-haven assets.
World stocks, as measured by the MSCI index, dropped 0.7 percent and are now below where they began the year, having relinquished all the first-quarter gains fuelled by the European Central Bank’s injection of more than a trillion euros of three-year money.
That rally is now a distant memory [...] - US Banks Up Insurance Sales On Euro Debt
U.S. banks increased sales of protection against credit losses to holders of Greek, Portuguese, Irish, Spanish and Italian debt in the last quarter of 2011 as the European debt crisis escalated.
Guarantees provided by U.S. lenders on government, bank and corporate debt in those countries rose 10 percent from the previous quarter to $567 billion, according to the most recent data from the Bank for International Settlements. Those guarantees refer to credit-default swaps written on bonds.
JP Morgan and Goldman Sachs [...]
gftforex.com
- Canadian Dollar Gets a Boost in Forex Trading
Loonie heads higher in currency tradingpfont face="verdana, arial, helvetica, sans-serif" size="2"Canadian dollar is getting a boost in forex trading on the currency market today, heading higher on better economic news, and higher commodities./font/p pfont face="verdana, arial, helvetica, sans-serif" size="2"Loonie is getting help as the a href="http://www.fxstreet.com/news/forex-news/article.aspx?storyid=3aa91d78-7fc7-44c0-812c-2cf3f31c96f7"CPI rises/a in Canada. The news once again underscores the relative strength of the Canadian economy, especially when compared to the United States, or to the eurozone. /font/p pfont face="verdana, arial, helvetica, sans-serif" size="2"Also helping the loonie in currency trading is the fact that commodities are rising. Gold prices are higher today, and oil prices -- after days of disappointment -- are gaining. Canadian dollar receives special support from oil prices, since oil is one of Canada's major resources./font/p pfont face="verdana, arial, helvetica, sans-serif" size="2"And, of course, the greenback is down on general optimism and risk appetite stemming from today's a href="http://blog.gftuk.com/public/item/275221"Facebook IPO/a.nbsp;/font/ph3See Also/h3ullia href="http://www.gftforex.com/land/?aid=7356" target=%quot;_blank%quot;Canadian Dollar in Forex Trading/abr/Currency market news/li/ul
topforexnews.com
- Bad Week for Loonie in Spite of Some Good News
The Canadian dollar had a pretty bad week as talks about the European debt crisis plagued the Forex market, driving traders away from riskier commodity currencies.(...)Read the rest of Bad Week for Loonie in Spite of Some Good News (150 words) Posted on Forex News. - Chile’s Central Bank Holds Main Interest Rate, Peso Advances
The Chilean peso rose even after Chile’s central bank refrained from increasing interest rates. Good prospects for the nation’s economy and possibility of an interest rate hike in the future may be responsible for the currency’s gains.(...)Read the rest of Chile’s Central Bank Holds Main Interest Rate, Peso Advances (187 words) Posted on Forex News. - Euro Drops to 4-Month Low, Closes Above Opening Level
The euro reached the lowest level in four months against the US dollar and the lowest in three months versus the Japanese yen today on fears that the European crisis is escalating. The currency was higher on the day though.(...)Read the rest of Euro Drops to 4-Month Low, Closes Above Opening Level (137 words) Posted on Forex News. - Risk Appetite, Better Situation Help UK Pound
UK pound is being helped on two fronts today. General risk appetite, with the focus on the Facebook IPO, is helping the sterling against the US dollar. On the other hand, pound is higher against the euro, as concerns about what’s happening in the eurozone make the pound a preferred choice as a European safe haven currency. (...)Read the rest of Risk Appetite, Better Situation Help UK Pound (127 words) Posted [...] - US Dollar Lower as Risk Appetite Makes an Appearance
US dollar is lower today as risk appetite makes an appearance in the markets. As commodity prices rise, and equities see a bit of a reprieve from recent troubles, the greenback is pulling back. Concerns about Europe remain, but they are being trumped by other news — especially the imminent Facebook IPO. (...)Read the rest of US Dollar Lower as Risk Appetite Makes an Appearance (137 words) [...]
CNN MONEY
- Postal Service's next deadline: Aug. 1
The next deadline facing Congress to save the U.S. Postal Service is Aug. 1. That's when the agency won't have enough money to make a $5.5 billion payment to a retirement fund mandated by law.img src="http://feeds.feedburner.com/~r/rss/money_latest/~4/Wj5csXPiYuA" height="1" width="1"/ - GM won't advertise in the 2013 Super Bowl
General Motors will not advertise during this year's Super Bowl game, the automaker said Friday.img src="http://feeds.feedburner.com/~r/rss/money_latest/~4/6eb8OP5Mk_Y" height="1" width="1"/ - New York penthouse sells for a record $90 million
An unnamed buyer paid more than $90 million for a Midtown Manhattan penthouse, the highest price ever paid for a New York apartment, according to the building's developer.img src="http://feeds.feedburner.com/~r/rss/money_latest/~4/r5PyJv8OP1o" height="1" width="1"/ - Anti-social: Zynga tumbles after Facebook IPO
Social media stocks just aren't feeling the love, despite Facebook's highly-anticipated stock market debut.img src="http://feeds.feedburner.com/~r/rss/money_latest/~4/rtGvlo8TcPY" height="1" width="1"/ - Thrilled and bummed by Google's self-driving car
My first ride in Google's self-driving car was, all at the same time, thrilling, fascinating and a little disappointing.img src="http://feeds.feedburner.com/~r/rss/money_latest/~4/WR9pqByzFEk" height="1" width="1"/
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