posted by Admin on Feb 18
The US Dollar moved higher as traders fled the Euro and Australian Dollar once again, and there was some bullish indications from the release of the Fed minutes. Following a good run, some of the sparkle has run out of the Euro, with investors appearing to prefer the relative safety of the US Dollar. The push higher was furthered as minutes showed that Federal Reserve policy makers had discussed asset selling.
Market News
US housing starts figures released yesterday rallied to a 6 month high
The Bank of Japan held rates at 0.1%, as expected last night, by a unanimous vote. Their economy continues to pick up.
The IMF announced that they planned to sell 191 tonnes of gold on the open market as opposed to central banks.
Major Economic News
TIME MARKET DATA
1330 US PPI
posted by Admin on Feb 17
The Euro registered its biggest single day move to the upside since July 2009 as concerns about euro zone debt subsided. The rebound for the Euro signals that traders think the sell-off may have been overdone, with the number of Euro short positions being reduced as risk appetite softens.
Market News
The UK’s CPI came in as forecast at 3.5%, well above the government’s target of 3.5%
Unemployment levels in the UK rose by 23,500 in January to its highest level since April 1997
The Bank of England minutes were released showing that members voted 9-0 to pause the asset purchasing scheme
The minutes from the last FOMC meeting are scheduled to be released at 1900 GMT
Major Economic News
TIME MARKET DATA
1330 US HOUSING STARTS AND PERMITS
posted by Admin on Feb 16
Whilst many traders remain cautious about the Euro, it has moved higher in trade on expectations that European finance ministers will not say anything new on the debt issues that surround the Greek economy. Yesterday the European Chief Jean Claude Juncker said that Greece had until March 16th to propose new measures to trim their deficits.
Market News
With the US markets shut for Presidents Day yesterday, the US Dollar inched ever so slightly higher in relatively thin trade
European finance ministers picked Portugal’s Victor Constancio to be the new deputy president of the ECB at the end of May
The latest data from the CFTC shows record short positions against the Euro
Minutes released from the latest RBA meeting showed that they decided to leave interest rates on hold in order to assess the impact of past rate hikes
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TIME MARKET DATA
0930 UK CPI
posted by Admin on Feb 11
The Euro rose once again as we edged closer to the EU summit. Leaders are scheduled to meet today, and traders will be looking for details on how the other European nations plan to help debt-stricken Greece. The Euro is now at three-week highs against Sterling, breaking through the 200 day moving average.
Market News
Civil Servants went on a 24 hour strike in Greece yesterday to show their frustration with government spending cuts
Australian jobs data rose once again for the fifth straight month, with unemployment now at 11 month lows
Ben Bernanke stated yesterday that he may raise the borrowing rate to banks as the initial step in his exit plan from the current monetary policy
Mervyn King left the door open for the Bank of England to re-start their quantative easing programme in the future.
Major Economic News
TIME MARKET DATA
DELAYED DUE TO HEAVY SNOWFALL IN US
