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Day: February 5, 2018
February 52018
[Poll] Will Retail Forex Trading Ever Get Banned?
For quite some time already, my April fool jokes about the foreign exchange market closing down or the government monopolizing it no longer seem so outlandish as they definitely looked like back in 2009 and 2011. With the current regulatory situation being very close to an outright ban of retail FX trading, will it take long for the coordinated effort by developed countries to outlaw speculative Forex trading completely? The legality of trading […]
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February 52018
EUR/USD Reverses Earlier Gains, Halts Decline After US Services Sector Data
While EUR/USD was moving up at the start of the current trading session, it halted its rally at 9:15 GMT and started to move down subsequently. The currency pair attempted to rebound following the release of US services sector data, but it had limited success so far. Markit services PMI slid from 53.7 in December to 53.3 in January according to the final estimate. It was unchanged from the preliminary reading and in line […]
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February 52018
Euro Drops Against US Dollar on Weak Eurozone Retail Sales Data
The euro today gave up all its gains and traded much lower after the release of weak Eurozone retail sales data in the mid-European session. The euro had rallied to new daily highs following the release of positive Eurozone services PMIs by IHS Markit earlier in the session. The EUR/USD currency pair lost over 60 points to decline from a high of 1.2475 to a low of 1.2407 at the time of writing. The euro’s steady decline was precipitated […]
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February 52018
Pound Slips After Growth of Britain’s Services Sector Slows
The Great Britain pound fell against its most-traded rivals today, though held its ground against the US dollar, after growth of Britain’s services sector slowed unexpectedly. The seasonally adjusted IHS Markit/CIPS UK Services PMI slipped from 54.2 in December to 53.0 in January. While the index stayed above the neutral 50.0 level, indicating that the sector continued to grow, the growth was the slowest in 16 months. Ahead of the report, […]
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February 52018
Australian Dollar Recovers After Opening Lower
The Australian dollar rose against some of its major rivals today but that is after opening below the Friday’s close. Macroeconomic data released in Australia over the course of the trading session was generally supportive to the currency. The Australian Industry Group Australian Performance of Services Index increased from 52.0 to 54.9 points in January. The ANZ Commodity Price Index rose 0.7% in January from the previous month after logging three […]
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