Forex Broker

Waiting on Private Payrolls

Broker — Fri, 03 Sep 2010 18:01:55 +0000

Markets are anxious ahead of today’s critical payroll report. The Forex Market settled into an easy range during the Asian session and traders don’t seem to be in any kind of hurry to open new positions given the uncertainly of today’s US data. One of the core themes this summer has been the seesawing fate of the US economic data and the probability of a double dip in the wider global economy….

Markets Await Non-Farm Payrolls Report

Broker — Fri, 03 Sep 2010 07:52:15 +0000

G10 Advancers and Decliners vs USD
	GBP	0.09
	JPY	0.08
	CHF	0.04
	EUR	0.01

The markets have been trading in a rather tight range this morning, unsurprisingly considering the all important US non-farm payrolls number is to be released later in the day. Asian equities are largely tilting towards the green this morning as a combination of better than expected data from the US last night has kept risk appetite inflated in the build up to the jobs report due out at 1230 GMT….

Australian Trade Surplus Shrinks

Broker — Thu, 02 Sep 2010 11:40:23 +0000

G10 Advancers and Decliners vs USD
	JPY	0.30
	GBP	-0.08
	EUR	-0.12
	CHF	-0.15

Asian equity markets have opened on a positive note this morning following the strong gains posted in the US session yesterday on the back of increased risk seeking resulting from better than expected economic data out of the US. The ISM manufacturing index bettered analysts estimates at 56.3 actual v 52.8 exp while the ADP employment reading showed a drop in new jobs added, showing a decrease to…

FX Market Skittish Before ECB

Broker — Thu, 02 Sep 2010 11:40:20 +0000

The rally in risk appetite boosted by strong Chinese and Australian data yesterday was further encouraged after our last article by stronger than expected US ISM numbers. Forex risk correlated currencies, such as the Euro, moved lock-in-step with the data. EURUSD rallied above 1.2800 and the S&P climb above 1080. However, US rates weren’t invited to the party as players remained unsure – 10…

Chinese & Australian Data Supports Risk Appetite

Broker — Wed, 01 Sep 2010 15:23:48 +0000

The better than expected Chinese PMI and Australian GDP gave risk appetite a boost and allowed for the accumulation of risk-correlated trades. However, our gut feeling is that the summer risk on/off pattern is still in effect and we suspect the Asian momentum will fade as we get a slew of economic data today. The Asian surprise print help momentarily suspend the market’s obsession with global…

Looking Forward to US Data

Broker — Tue, 31 Aug 2010 18:55:29 +0000

With the UK on a long weekend yesterday, Forex traders had a slight pause in what has been a frenzied month. Enjoy it while you can, because September is notorious for being a volatile month and especially in the equity markets. This summer will be remembered (or maybe not) for its schizophrenic trading and a failure to maintain any meaningful directions or themes. This morning there is a…

Weaker economic data pushing for reduced risk appetite

Broker — Tue, 31 Aug 2010 08:46:16 +0000

G10 Advancers and Decliners vs USD
	JPY	0.52
	CHF	0.26
	EUR	-0.20
	GBP	-0.25

The JPY was poised for a fourth monthly gain versus the USD, the longest winning streak in more than 18 months, as concerns the global economic recovery is faltering boost demand for JPY and was also set to complete monthly advances against all of its 16 major counterparts before data this week forecast to show US jobs fell and after a New Zealand finance company filed for receivership. Japan’s…

BOJ intervenes to weaken the JPY; investors see this as “not enough”

Broker — Mon, 30 Aug 2010 12:07:11 +0000

G10 Advancers and Decliners vs USD
	JPY	0.17
	GBP	-0.03
	CHF	-0.26
	EUR	-0.37

The USDJPY pared gains on speculation the BOJ’s decision to introduce more credit-easing measures won’t be enough to weaken the currency from near a 15-year low while the EURJPY also trimmed gains after the bank expanded a corporate loan program by 10 trillion JPY ($116 billion), falling short of expectations it would unveil more steps, such as buying Japanese government debt, to support the…

BoJ Action Fails to Halt JPY Appreciation

Broker — Mon, 30 Aug 2010 12:07:09 +0000

Before we get into this week, let’s quickly talk about Jackson Hole. Right now it seems that the Market is just a few steps ahead of policymakers as there is growing feeling that central banks and bankers lack the essential tools needed to control this recovery. The decisions from this small group over the past few months all appear to be knee-jerk reactions – never intelligent stewardship or…

All eyes trained on Yen intervention talks, Bernanke speaks today

Broker — Fri, 27 Aug 2010 12:27:33 +0000

G10 Advancers and Decliners vs USD
	EUR	0.02
	CHF	-0.06
	GBP	-0.15
	JPY	-0.34

The JPY fell, reversing earlier gains versus the EUR and the USD, on speculation Japanese policy makers will take measures to halt the currency’s advance, weakening versus 15 of its 16 major counterparts after reports Prime Minister Naoto Kan will speak today on his policies to fight deflation and curb the JPY’s strength. The JPY also retreated after Japanese Finance Minister Yoshihiko Noda said…