Posts Tagged ‘ February ’

Strange Broker — FOREX MMCIS

FOREX MMCIS is a rather strange broker that has been listed on my site today. They state that they were founded in 2007 by an investment company that was on-line since 2004, but all their websites came on-line only on February 29, 2008. They are registered in Panama… [ READ MORE ]

Any Forex Opportunities in U.K. General Election?

U.K. General Election 2010 was held on Thursday, May 6. The outcome of the election has surprised many pound and U.K. stock market bulls by resulting in hung parliament (the first one since February 1974 in U.K.). According to the latest results the seats among the three major parties were divided… [ READ MORE ]

Euro Falls to April Low as Greek Budget Deficit Worsens

EUR/USD fell to it’s minimum level this month as the Greek budget deficit proved to be worse than expected while the fundamentals from U.S. supported the greenback. The currency pair is now trading near 1.3286 after hitting a daily bottom at 1.3276 today — the lowest level since March 26. PPI rose faster than expected in United States, gaining 0.7% in March compared to 0.5% forecast. The gain followed a drop by 0.6% [ READ MORE ]

EUR/USD Falls Before Macroeconomics Released

EUR/USD went down today before the a group of important macroeconomic reports were released. After release, the currency pair corrected up slightly. It’s now trading near 1.3564. Initial jobless claims went up by 24k to 484k last week. They were expected to decline to 440k instead. Net foreign purchases of the U.S. long-term securities were at $47.1 billion in February — up from $15 billion in January. The forecasts were near $29.7 [ READ MORE ]

Euro Fails to Appreciate Against Dollar

EUR/USD failed to go up significantly today and retreated even before reaching the Monday’s high level, as the fundamental indicators hinted a soon rate hike in the United States. The pair is currently trading near 1.3629 and it looks like the traders aren’t quite sure where to go now. Retail sales unexpectedly rose by 1.6% in March after 0.5% increase in February. The forecasts pointed only at 1.2% growth. Such a fast improvement of the U.S. [ READ MORE ]

Dollar Consolidates on Trade Balance Deficit Growth

EUR/USD consolidated today with a previous movement both up and down, as the traders are unsure about the further direction for the pair. The dollar’s dynamics against the euro is affected strongly by the events in Europe and less of the market participants look seriously at the U.S. statistics nowadays. EUR/USD is now trading near 1.3599. U.S. trade balance deficit rose from $37.0 billion to $39.7 billion in February as the imports rose 10 times faster than [ READ MORE ]

EUR/USD Rallies with U.S. Wholesale Inventories

EUR/USD went up significantly today on the background of the rising wholesale inventories in United States, but the main reason for the rally was probably in the Greece’s bailout expectation. The currency pair reached its highest level since Tuesday and is now trading near 1.3470. Wholesale inventories continued to grow in February and increased by 0.6% during that month after a growth of 0.1% during January. The estimate of the wholesale inventories growth was at 0.4%. Initial jobless claims [ READ MORE ]

German Trade Boosts the Euro

German Trade Balance improved in February rising to 12.1 Billion euros versus 11.4 Billion eyed. The gain was primarily driven by surging exports which increased by 5.1% from the month prior and were up 9.6% from the same period a year ago. [ READ MORE ]

Dollar: Bernanke Spooks Investors

To the dismay of currency and equity traders, the message from the Federal Reserve has been relatively consistent. Despite the recent improvements in the labor and housing markets, the U.S. central bank is skeptical about sustainability. As a result, the U.S. dollar and Japanese Yen appreciated against all of the major currencies as [ READ MORE ]

EUR/USD Goes Up Before Some Good U.S. Reports

EUR/USD went up slightly today, showing both upward and downward volatility before the U.S. fundamental reports hinted some continued improvement in the economy. After the reports were released, the currency pair retraced slightly from its higher intraday positions. EUR/USD is now trading near 1.3516. Pending home sales index rose by by 8.2% to 97.6 in February after falling down by 7.8% in January. Now it’s 17.3% above the February [ READ MORE ]

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