23 Jan
Posted by: Bethany Colton in: Forex Analyzer
WTI Crude Oil (NY Close): $99.58 // +1.12 // +1.14%
Geopolitical tension appears to be taking over as the main catalyst for crude oil prices.
Like other high beta currencies, the pound is finding support against the US dollar today as risk appetite makes an appearance on the FX market.
The pound is gaining as good news in Europe bolsters equities, as well as riskier currencies. There is some hope that the eurozone will be able to get through this, as French costs come down, a Greek appears almost worked out, and buyers are willing to take Spanish bonds.
Pound often moves up when equities do well, and right now equities are getting a boost from good news in the US, as well as in Europe.
16 Jan
Posted by: Bethany Colton in: Forex Analyzer
Hungarian talks with the IMF and EU reached stalemate as international lenders seem to keep a firm stance towards Budapest. According to comments after the meeting of Tamas Fellegi, Hungarian negotiator, and Christine Lagarde, IMF chief, there are several obstacles to the deal with IMF: Christine Lagarde’s top priority is probably the assurance of central bank’s independence.
Although the IMF does not directly push Hungary to abandon further changes in constitution, it wants to see trilateral agreement of IMF-EU-Hungary. Tha Read more…
13 Jan
Posted by: Caitlin Mirams in: Forex News
I stopped trading the USD/JPY last year because it was proving to be very difficult and the big price swings were becoming less and less frequent. Well the bad news is that it seems to have got even worse in 2012, and the USD/JPY pair looks as if it is on a life support machine at the moment.
For this reason I dont think anyone should be trading the USD/JPY pair at the moment.