admin_mm – Page 1878

November 17
2007

Iran, Venezuela Concerned with Weak Dollar

OPEC summit, which is to be held this weekend, could become a field of discussion of possible dollar abandonment as the official OPEC’s oil currency. Iran and Venezuela, concerned with the dollars continuous fall against other world currencies, are interested in changing oil pricing to other major currencies. Putting this question to the OPEC’s summit discussion list is in the interest of both of those countries. But Saudi Arabia, OPEC’s largest […]

November 16
2007

Marketiva Adds New Trading Instruments

These news isn’t that new, but for Forex traders it would be interesting to know, that Marketiva broker now offers world indexes (Dow Jones, Nasdaq 100, S&P 500, DAX and FTSE 100) and precious metals (gold, silver, platinum and palladium) trading. Metals are now part of the Commodities tab in Marketiva’s Streamster, which may hint for adding other commodities (think of oil) too. Spreads for the new […]

November 16
2007

Dollar Suffers from Lower Industrial Production

EUR/USD stopped its fall today and jumped back up to 1.4670 levels on Forex after today’s Federal Reserve release on industrial production. In this October industrial production fell by 0.5% after 0.2% growth in September and median expectation at 0.1% for this month. That means that FOMC will probably need to adjust U.S. interest rates once again to stimulate economy growth. With the decrease of industrial production, economy of the Unites […]

November 16
2007

Central Bank Leaders To Persuade China

Mervyn King, Bank of England Governor, said during his press conference that he will use the Group of 20 meeting to convince China to speed up the yuan’s appreciation. G20 meeting will be held near Cape Town, South Africa, this weekend on November 17–18 and one of the prevailing topics would be China’s monetary policy. It is hard to believe that Chinese Central Bank official will […]

November 15
2007

U.A.E. Will Lower Its Dollar Peg

Sultan bin Nasser al-Suwaidi, Central Bank Governor, said in Gwacheon, South Korea, today that U.A.E. will end the dirham‘s peg to the U.S. dollar, if it will continue further to depreciate against euro. U.A.E. dirham’s peg to the dollar is almost 30 years old; it started in 1978 and will be probably stopped this or […]

November 15
2007

Minor Update

I’ve updated Forex brokers description pages to use AJAX for broker rating system. So now you can vote for your favorite broker without having to reload a page. It’s not a big thing, but I think that my visitors should be able to do thing in a convenient way :-). If you didn’t rate your Forex broker yet, please Forex brokers, it will take just a few […]

November 15
2007

CPI at 0.3%, Jobless Claims at 330k, Oil Inventories Grow

The release of the not so good news from the U.S. economy caused a wave of bullish dollar speculation on Forex with the increased risk aversion sentiments among traders. Going back from stocks to bonds wasn’t prevented even by the fear of another possible cut rate before the year’s end. EUR/USD fell from almost 1.4700 to the powerful psychological support level of 1.4600. Bureau of Labor Statistics published its consumer inflation data — […]

November 14
2007

Bernanke: More Transparency To Monetary Policy

Federal Reserve Chairman Ben Bernanke spoke on Fed’s communications at Annual Monetary Conference today. In contrast to his predecessors that praised a secretive atmosphere of FOMC‘s decisions, Bernanke said that transparency and more detailed information will help markets to understands monetary policy better. In this context he announced about a new communications strategy of the Federal Reserve. This strategy is set to bring more detailed information to market participants […]

November 14
2007

Low Producer Prices Inflation Helps Dollar

After Bureau of Labor Statistics reported its statistical data for October Producer Price Index (which indirectly affects Consumer Price Index with a time lag) today, U.S. dollar began reclaiming some of its strength against major currencies. Most notably — against Euro which grew significantly against all majors today. After PPI report dollar went back from past 1.4700 levels to 1.4670 levels. […]

November 13
2007

Bank of Japan Pushes Yen Down

Bank of Japan decided to leave its monetary unchanged on today’s meeting upon releasing its monthly statement on the Japanese economic development. BoJ also left no signs of possible interest rates hike in the near future, leaving carry traders with the opportunity to continue using yen as the selling currency. Preceding the BoJ meeting, Prime Minister Yasuo Fukuda spoke about recent yen’s appreciating against major currencies as fast and bearing […]

Author: admin_mm