The euro moved marginally lower vis-agrave;-vis the U.S. dollar today as the single currency tested bids around the US$ 1.3925 level and was capped around the $1.4025 level. Liquidity was light ahead of the long Independence Day holiday weekend. ......
- In equities news overnight: BNP Paribas [BNP.FR] To form a fund management partnership with Greece's Piraeus.The companies plan to set up joint ventures in both Greece and Switzerland and expect to complete the transaction some time in Q4 || ......
I may be alone in wondering why we are all supposed to be manically panicking over swine flu but it doesn#8217;t appear to be any more virulent or fatal than any other flu strain. I do tend to fall into the conspiracy theorist school of thinking and ......
The Czech koruna gave up all of its Wednesday#8217;s gains yesterday as market sentiment turned negative after a release of the US payrolls report. As a result the EUR/CZK rebounded back towards the 26 level. Today, the only item on the domestic ......
In currencies, the US dollar and yen opened the session stronger, however both currencies have since pared their gains as dealers attributed the earlier moves to "stop hunting" and illiquid market conditions. EUR/USD moved below 1.400 in Asia, but ......
EURUSD After falling from 1,4190 this pair's slides reached as low as 1,3930 where further declines was stopped and We might observe quite robust jump above 1,4000 indicating that the market doesn't feel like for bearish scenario. So for today We are s...
EUR/USD Today#8217;s support: - 1.3950(main), where correction is possible. Break would give 1.3938, where correction also may be. Then follows 1.3910. Break of the latter would result in 1.3897. If a strong impulse, we ...
The euro moved sharply lower vis-agrave;-vis the U.S. dollar today as the single currency tested bids around the US$ 1.3990 level and was capped around the $1.4155 level. The common currency gaved back most of yesterday#8217;s gains ahead of the ......
Markets on both sides of the Atlantic are experiencing a fresh bout of risk aversion after North Korea test fired three short range missiles, the ECB left rates unchanged, and US June non-farm payrolls figures reaffirmed a dismal employment environment re...
Yesterday#8217;s main news veered away from financial matters and centred on U turns in government as contentious bills and plans are scrapped in the run up to an inevitable election. Chameleons will be in great demand today because there are two ......
Follow along as John Carter covers his daily market analysis and specific day and swing trading plays he's setting up. Using video that records his voice as well as the charts on his computer screen, John Carter reviews key markets each night such as the stock indexes, gold, oil, currencies, individual stocks and stock options.
This market has been great for day trading but if you don't have a plan and if you over trade you will get killed. In this video I show the best setups that work in this type of crazy volatility market. This is the second video in a series of three
This market has been great for day trading but if you don't have a plan and if you over trade you will get killed. In this video I show the best setups that work in this type of crazy volatility market. This is the third video in a series of three
Major support in the Dow at 9700 has been tested. The question now is will that hold and has capitulation been met? Where do we look to see if capitulation has been met? The answer may surprise you in that
It was the best of times . . . it was the worst financial situation since the great depression. On that cheery note, what I wanted to do tonight is step back and look at the bigger picture and discuss what is going on out there
Well at least these aren't boring times but after a few more months of this some chop and liquidity might be a good thing! Tomorrow is a huge day of course and this is overall what I'm looking at doing and what I'm planning on
Got news? These are some of the most intense news-driven markets I've ever seen and this week will have no let up in site. We've got the vote, employment numbers and of course the imminent threat of more bankruptcies
So after today's rally the stock market is saved right? Hopefully you know the answer to that. This really is a day to day market and there is no point in buying "for the long term" right now. This is what I'm focusing on
Here's my video for Tuesday. My internet went down at 8:00pm last night and didn't come back up for 14 hours which as a trader is about the worst thing that can happen. So here's what I had recorded last night before the internet crashed
Got volatility? I spent a little time recording about 30 minutes of trading activity today. Although it overloaded my systems resources hopefully it shows a few interesting things on trading during crazy times like these
On the basis of its regular economic and monetary analyses, the Governing Council decided to leave the key ECB interest rates unchanged. The current rates remain appropriate taking into account all the information and analyses that have become available since our meeting on 4 June 2009.
Information received since the Federal Open Market Committee met in April suggests that the pace of economic contraction is slowing. Conditions in financial markets have generally improved in recent months. Household spending has shown further signs of stabilizing but remains constrained by ongoing job losses, lower housing wealth, and tight...
The Swiss National Bank (SNB) is continuing the policy introduced in March whereby it implemented a firm relaxation of monetary conditions. Despite the emergence of some encouraging signs, the global economic situation remains unfavourable and further economic deterioration cannot be ruled out. In Switzerland, the economic situation is difficult; the...
Financial market sentiment had generally improved on the month, although strains remained and many spreads continued to be elevated. The publication of the outcomes of the stress tests for 19 major US banks on 7 May had been received positively. Sentiment had probably also been supported by the mounting evidence...
At the Monetary Policy Meeting held today, the Policy Board of the Bank of Japan decided, by a unanimous vote, to set the following guideline for money market operations for the intermeeting period: The Bank of Japan will encourage the uncollateralized overnight call rate to remain at around 0.1 percent.
Before reviewing the latest indicators of activity in the key economies, members noted that only a small number of countries had recorded growth in real GDP over the past six months, with many countries experiencing large falls. For the world as a whole, GDP outcomes were not likely to be...
The Official Cash Rate (OCR) will remain unchanged at 2.50 percent. Reserve Bank Governor Alan Bollard said: “The economic outlook remains weak both in New Zealand and in other countries. However, there are signs that international economic activity is stabilising, and international financial conditions are improving. We expect the New...
Reports from the twelve Federal Reserve District Banks indicate that economic conditions remained weak or deteriorated further during the period from mid-April through May. However, five of the Districts noted that the downward trend is showing signs of moderating. Further, contacts from several Districts said that their expectations have improved,...
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent. The Bank Rate is unchanged at 1/2 per cent and the deposit rate is 1/4 per cent. Information received since the Bank's April Monetary Policy Report (MPR) is broadly consistent...
On the basis of its regular economic and monetary analyses, the Governing Council decided to leave the key ECB interest rates unchanged. The current rates are appropriate taking into account our decisions of early May, including the enhanced credit support measures, and all the information and analyses which have become...
NFA's rules designed to help customers in the U.S. but some traders are confused at the new rules and what it all meansThe NFA recently imposed a rule (2-43 (b)) that will eliminate the ability of some dealers to offer stop-loss and limit orders. As a market-maker for forex, GFT is already fully compliant with this rule and will not be affected — you will still be able to place stop and limit orders with us. Some dealers have gone as far as asking their customers to transfer their account overseas as to avoid the new NFA rule. At GFT, our customers can keep their account stateside and have full access to stop and limit orders through all DealBook® platforms. The new rule also eliminates "hedging," which is really misunderstood when it comes trading currencies. Read the reasons why here. Finally, some forex dealers have recently experienced a decline in net capital. As world-leading company, GFT has $80 million in net capital, which greatly exceeds the NFA's minimum net capital requirement and is $20 million above the next largest U.S. forex dealer. Read the facts from the NFA here. Read the facts from GFT here. Read other forex industry opinions here.See AlsoRead GFT's Official Response to the NFA rule
Pound and euro pull back briefly in forex tradingEconomic activity has shown signs of slowing again in Britain and in the euro zone as "economic green shoots" continue to wither. GFT's Boris Schlossberg comments on the flagging economies on the other side of the Atlantic in FX360: The stall in economic activity confirms our suspicion that the recovery trade is losing momentum as final demand remains lackluster. As we noted earlier the overall picture, “indicates stability, but little further improvement in both EZ and UK and does not augur well for risk currencies going forward.” The Aussie remains the one exception amongst the majors as Australia continues to benefit from Chinese demand. On the news, the pound and the euro pulled back in forex trading slightly. The U.S. dollar is gaining some favor as a safe haven.See AlsoEuro in Forex TradingWorld currencies on the FX market
While a recently adopted National Futures Association (NFA) rule is forcing some forex brokers to discontinue the use of stop and limit orders to protect positions, GFTannounced today that their platform is fully compliant with all NFA regulations and, as such, customers trading with GFT will not be affected. Click here for more information >>See Also
GFT traders not affected by ruleThe NFA has enacted a new rule that will eliminate the ability of traders to hedge open trades. Many traders are nervous that they will no longer be able to place stop-loss or limit orders. As GFT has already been following this rule and will experience no changes. Customers with GFT will be able to continue to place stop-loss and limit orders. There will be more information posted on FX360 shortly.
Chinese quietly set about forex reserve diversificationEarlier this year, China made a rather strident call for a global reserve currency. This call was for the world to use International Monetary Fund "special drawing rights." Most countries scoffed at the notion, and, having planted the idea, China backed off. Even recently, China expressed its current support of the U.S. dollar as a reserve currency. But China isn't one to just give up. China is patient, and takes the long view. Earlier this year, China arranged a currency swap with Argentina. Additionally, China is looking to have its major finance centers settle loans in yuan. There is even an agreement with Hong Kong in the works for exchanges in the yuan. Clearly, China is looking forward to a day (and it may be two or three decades in the future) when the U.S. dollar may not be the dominant reserve currency. The Forex Blog offers this on the gradual change: Even China has stated that its reserve policy will not feature any sudden changes. In sum, “It seems safe to say that the Chinese are pursuing a rather logical path. They will continue to accumulate dollar reserves, as doing so fits their three-adjective criteria [liquidity, safety and returns], while also pushing for international acceptance of an alternative to the dollar in a new global currency.” This is smart thinking. China has been taking one solid step at a time as it builds toward economic superpower status. The country has been diversifying in recent months, buying energy concerns and looking to European investments. While America's dominance has certainly lasted quite a while, China is looking toward the day when it make take her place. See AlsoCurrency News and InformationForex trading and more
What does this mean for euro zone economic stimulus efforts?For the first time since 1991, the euro zone has seen a drop to inflation. Inflation has fallen to below 0%, introducing a definite trend toward deflation (although the economy is not in a state of deflation right now). The euro zone has been criticized in recent months for its lack of economic stimulus measures, and some see this information as proof that more should have been done. However, euro zone leaders maintain that they are doing what is necessary. They have some economic stimulus measures in place, but leaders are concerned that they might overdo it, leading to high inflation. Indeed, euro zone leaders are taking a "wait and see" approach, reports the Financial Times: The ECB believes the impact of its measures have still to feed through into the economy. But it faces a difficult balancing act. Even though the inflation outlook justified further action, the central bank feared “that more aggressive easing now could risk financial stability and or a too sharp acceleration of inflation over the longer-term,” said Nick Kounis, European Economist at Fortis Bank. Even with this news, the euro is heading a little bit higher in forex trading against the U.S. dollar. On top of that, in the long term the euro is expected to do well. The U.S. has racked up a lot of debt, and there are concerns that America has gone too far with economic stimulus -- increasing the probability of hyper-inflation. See AlsoEuro in Forex TradingForex trading with global currencies
British economy contracts most in 50 yearsThe U.K. economy shrank dramatically in the first quarter of 2009, reports the Office for National Statistics. Indeed, the British economy saw its biggest contraction in 50 years, with a 2.4% decline in gross domestic product. This decline was more than analysts predicted, and serves as a reminder that economic recovery in Britain is going to be a long, slow process. Indeed, as the report was made, the Bank of England warned that prolonged economic weakness is to be expected. There were some upbeat comments, however. These comments revolved mostly around the idea that economic contraction is coming to a halt, and that at sometime expansion will begin. As expected, the news did little to help the sterling in forex trading on the currency market. See AlsoU.K. Economy and Currency NewsForex trading on the currency market
July 3rd, 2009 - RTS rolls out Deutsche Boerse's new interfaces, the Enhanced Transaction Solution and Enhanced Broadcast Solution, along with the new Xetra Release 10.0.
July 2nd, 2009 - NYSE implements Super Display Book system
July 1st, 2009 - Neonet's European Consolidated Market Data powers NASDAQ OMX's Market Replay Europe
July 1st, 2009 - FESE, LIBA and MTFs agree on a number of potential tick size regimes
June 30th, 2009 - Fidessa wins Waters' Best Sell-side OMS award for second year running
June 30th, 2009 - Numerix first analytics company in the region to provide local quantitative support
June 30th, 2009 - TradingScreen to become Citi’s next generation buy-side EMS
June 29th, 2009 - Turquoise announces liquidity partners for July launch of its aggregation and order routing service
June 29th, 2009 - Neonet's buy-side clients can now access UBS suite of trading strategies for equities execution
John Knuff, Global Business Development Director at Equinix talks about the announcement that ISE will locate their new trading platform at the Equinix New York data centre, offering global connectivity to ISE trading clients.