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Day: December 6, 2011
December 62011
Franc Retreats as CPI Declines
The Swiss franc dropped today after the government report showed that the consumer prices fell last month in Switzerland, leading to the speculation about a possibility of another intervention by the nation’s central bank. The Federal Statistical Office reported that Switzerland’s consumer price index fell 0.2 percent in November, following the 0.1 percent drop in the month before. The expected reading was a 0.1 percent growth. Tomorrow’s report is expected to show that […]
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December 62011
Euro Struggles as France and Germany Try to Reconcile
One of the issues facing the future of the eurozone is the differences in opinion between France and Germany. Since the beginning, the two countries have had different approaches to the monetary union. And, unless those differences can be reconciled, real progress can’t be made in the eurozone. Questions of whether to share debts amongst eurozone states, whether to force individual states to follow stricter guidelines, and a number of other issues continue to divide the two biggest […]
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December 62011
Aussie Drops as RBA Reduces Main Interest Rate
The Australian dollar weakened today after the Reserve Bank of Australia cut its key interest rate as the unfavorable developments in the global economy justified easing of the monetary policy. The RBA cut its cash rate by 25 basis points to 4.25 percent today. RBA Governor Glenn Stevens said in the statement that “the inflation outlook afforded scope for a modest reduction in the cash rate”. The decision hasn’t surprised Forex market participants, but the reaction […]
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December 62011
US Dollar Slightly Higher After Weak Open
US dollar was softer earlier, thanks to a degree of optimism that had Forex traders looking for higher yields. However, the markets are quite ready for true optimism and the dollar has since strengthened against high beta currencies. One of the reasons the US dollar is gaining some strength right now is due to concerns that are, once again, creeping in about the state of the global economy. Some of the earlier optimism […]
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December 62011
Interview with Trading Point — CySEC, Regulation and Forex
More than a year has passed since my last interview with a Forex broker representative. Today, your attention is distracted by the interview with a Cypriot Forex broker, Trading Point. Costantinos Cleanthous, Chief Executive Officer, has answered some questions concerning the company, the regulatory environment created by CySEC and the retail FX industry conditions in general. How would you describe the current state of the regulatory environment created by CySEC? CySEC […]
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December 62011
New Zealand Dollar Retreats as S&P Hurts Market Sentiment
The New Zealand dollar fell today, as well as most other currencies, as the prospects for credit rating downgrades by Standard & Poor’s hurt Forex traders’ confidence and willingness to buy riskier currencies. The FX market is currently in an uncertain position. The summit of the European Union members this Friday will likely have a tremendous impact on the market, but before the meeting the market sentiment can shift in any direction depending on a nature of news. So […]
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December 62011
CAD Attempts to Rally, Again Without Success
The Canadian dollar attempted to rise yesterday as the European leaders gathered to discus possible changes to the European Union regulations, but the currency dropped back as Standard & Poor’s put the credit ratings of the EU countries on review. France’s and Germany’s leaders talked about possible ways to bring closer integration of the Eurozone countries and that was positive for the loonie (as the Canadian currency is often nicknamed for the image of the aquatic bird on the C$1 coin). But then […]
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