Forex Market Commentaries From FXCC – Daily Commentaries on the biggest stories from the world of Forex Trading & Currency Exchange.
Gold futures are likely to edge higher this week in low volume trade, helped by a weaker dollar overseas, though prices could be weighed by poor demand as jewelers’ continue their protest against levies. A director at Commtrendz Research commented: [quote]Improvement in the US economy will drive risk appetite[/quote] The most-active gold for June delivery on the Multi […]
Gold Sitting On The Sidelines Ahead Of FOMC Read More »
Organization of Petroleum Exporting Countries (OPEC) oil output rose in March to its highest since October 2008 as higher supply from Iraq and further recovery in Libya’s production offset a drop in shipments from Iran. Supply from the 12 members of the OPEC averaged 31.26 million barrels per day (bpd), up from 31.16 million bpd
OPEC March Figures Support Increased Production Read More »
Despite the holiday-shortened week in the euro area, US markets remain open on Good Friday and even the payrolls are scheduled for Friday. Ahead of the payrolls, we will receive the non-manufacturing ISM, the ADP report, factory orders and weekly claims. These data should give us a latest update on the economy in the US
It’s All About Jobs In The US This Week Read More »
In 2009, the People’s Bank of China used Shanghai to kick off a trial program to permit Chinese companies to settle cross-border trade in yuan—which has now expanded to include the rest of the country. Once again a new trial program will be launched in Shanghai. The yuan-fund program is “under preparation”, Fang Xinghai, director-general
A New Chinese Currency Initiative Read More »
The EUR/USD extended the downward correction that started earlier this week. The move was to a large extent inspired by end of quarter repositioning. Negative headlines on the European economy and risk-off sentiment on the equity markets were no help. And of course, instigated by Fed Chairman Bernanke’s comments. A late session rebound on the
Weekly Review Of The EUR/USD Read More »
The EU commission, which is warning that euro-zone governments shouldn’t get complacent, also favours a much bigger firewall. It argues one is needed to signal to the market in advance that other euro-zone governments stand ready to backstop our bigger member states under pressure, and calm contagion. By implication, if the firewall isn’t big enough, the market will doubt the
It’s Magic – Turning 80 Billion Euro Into 1 Trillion Read More »
European share markets have closed lower, with investors hesitant after recent gains on concerns over China and the eurozone and data showed the British economy in worse shape than first thought. The British economy contracted 0.3% in the final three months of 2011 compared to the previous quarter, the U.K. Office for National Statistics reported
US And EU Markets End The Day Down Read More »
A week ago, the US jobs report, showed a reduction in unemployment claims, earlier in the month, the jobs report showed consistent new hiring’s. The US economy has been on a slow recovery path. This past week, some negative housing data and consumer sentiment reports along with a downbeat speech by Fed Chairman Bernanke has
US Economic Recovery Supported By Durable Goods Report Read More »
This past weekend, Germany said it was willing to back a temporary increase in euro-zone funds to help prevent the debt crisis in the bloc’s periphery from jumping to other member states, according to a report Monday. According to Angel Gurria, secretary-general of the OECD: [quote]Euro-zone finance ministers meeting this week need to boost the
OECD Tells EU To Man Up Read More »
So which comes first? Jobs or home sales? Purchase contracts to purchase previously owned homes in America, unexpectedly dropped last month, suggesting a loss of momentum in the housing market after recent signs of improvement. The National Association of Realtors (NAR) reported its Pending Home Sales Index, based on contracts signed in the prior, dipped
It's The Chicken And Egg Story Read More »
