Currencies » Fx Empire Network

March 15, 2013| FX Empire Analyst - Barry Norman

The US Dollar Eases As Traders Book Profits

The dollar rose to a 7-month high and a 3-month peak versus the euro on Thursday as positive US data contrasted with economic and political concerns in the euro zone. The dollar also rose to a 6-month peak against the Swiss franc and the Norwegian krona, after central bank policy decisions and accompanying comments in Switzerland and Norway pushed those currencies lower. The dollar index closed at 82.605, down from 82.936 the prior day after traders took advantage of the...

September 20, 2012| FX Empire Analyst - Barry Norman

Forex Fundamentals

The greenback declined against the euro and other major currencies, after US economic data boosted equities, while the Japanese yen ended a short-lived drop against several rivals after the Bank of Japan surprised markets by expanding its own asset-purchase program. The ICE dollar index, which measures the greenback against a basket of six currencies, fell to 79.113 versus 79.226 late Tuesday in North America. Sales of previously owned homes and work on single-family projects climbed in August to the highest levels...

April 23, 2012| FX Empire Analyst - Barry Norman

Central Banks Take Center Stage

This is going to be a busy week for the central bank committees and the markets will be waiting on news, announcements and indications of what the banks are going to decide. On Wednesday we will hear the Federal Open Markets Committee Interest Rate Announcement. There is a clear division among the FOMC policy makers on when the Fed should start tightening monetary policy. Some policy makers have called for an exit and rate hikes as early as this year,...

February 25, 2012| FX Empire Analyst - Barry Norman

February Ends and March Rolls in with a Slew of Economic Events

A big economic week in the United States dominates overseas news in the week ahead, with GDP data for the fourth quarter due. When one month end and another in the middle of the week, the markets is inundated with economic data. It will keep the markets hopping. Around the globe there will be a lot of news and data. Lets not forget the G-20 conference in Mexico starting on today. The G20 is a forum for informal discussion which seeks...

February 03, 2012| FX Empire Analyst - Barry Norman

The World Waits On The All Important US Jobs Reports

It seems that global markets today are hinged on the US Jobs report. This week, we have seen mixed data out of the US, but overall the news has been positive. Yesterday, Fed Reserve Chairman Bernanke, addessed congress and although his remarks showed concern, he admitted that the US economy was slowly recovering. Promising that the Fed’s were watching closely and would do whatever it takes to keep the recovery moving along. Overall, manufactuing and durable goods reports have been...

February 02, 2012| FX Empire Analyst - Barry Norman | Comments (2)

Federal Reserve Chairman Ben Bernanke Testifies Before Congress

Federal Reserve Chairman Ben Bernanke testified before congress today. His remarks were short and to the point. He basically reiterated the FOMC statements of last week, maintaining a cautious tone on the U.S. outlook that interest rates are likely to remain near zero until at least through late 2014. He also noted that the US economy was still fragile and in a slow recovery and was not necessarily protected from Europe and that it was too soon to tell if...

January 26, 2012| FX Empire Analyst - Barry Norman

US Markets Up USD Down

The greenback continued to drop against most major currencies today continuing losses after a two major U.S. economic reports showed jobless claims and durable-goods orders jumped. One positive and the other negative. The move downward spiral comes the day after the Federal Reserve said interest rates may remain at current levels until late 2014, reducing the appeal of the USD to international investors, regardless of the positive comments about growth and the economy. The dollar index dropped to 79.248, and is...

January 26, 2012| FX Empire Analyst - Barry Norman

The FOMC Statement Heard Around The Globe

On Wednesday afternoon, in the US or in late evening in Europe, the Federal Reserve Open Market Committee made their most recent statement and comments on the US economy and their forecast for interest rates in the US. Most foreign exchange analysts, traders and professionals pay close attention to this statement, they read and interpret every nuance of the presentation, to understand exactly what the US Fed is trying to tell the public, but they also try to figure out...

January 25, 2012| FX Empire Analyst - Barry Norman

Did David Cameron See The Writing On The Wall When He Walked From The New EU Treaty

In 2010, the Euro-zone executive board said it would study whether the WU should go alone in imposing a tax on financial transactions after G20 leaders failed to agree on the issue. In September 2010, then president of the European Commission Jose Barroso officially presented the plan of creating the new financial transactions tax. The Global Financial Markets Association issued a statement saying that the proposed European financial transaction tax (FTT) will hike the cost of trading foreign exchange by up to 18 times,...

January 07, 2012| FX Empire Analyst - Barry Norman

US Economic Data Up… Markets Ignore

While Friday's big US jobs report beat expectations, some analysts said it was skewed by seasonal factors. Others said the response was muted because investors were anticipating a big gain. Investors are so worried about the European situation, that all else palls in comparison. US jobs reports beat forecasts, but still did not excite investors. Unemployment dropped unexpectedly, and still investors did not respond. Retail sales were up and consumer sentiment was climbing. US Automotive sales and manufacturing increased. An entire...

January 06, 2012| FX Empire Analyst - Barry Norman

Asian Markets Down On New EU Banking Concerns

Asian share market dropped this as new worries over the outlook for European banks trumped better-than-expected U.S. economic data, hurting regional financial and exporter stocks. US data for the week has been very upbeat, with more jobs data due out today, the significant Non Farms Payroll report is expected to beat forecasts, although unemployment is expected to climb up to 8.7% Asian worries increase as the markets began to realize that some of Europe's main banks won't be able to...

December 27, 2011| FX Empire Analyst - Irit R

Markets Facing Low Volume Trading During Last Week In 2011

The year 2011 is coming to an end, and markets are facing low volume trading, noting that many markets are closed today including UK and Australia, but the US data that came out today showed that the US economy improved lately. While eyes still focused on Italian bond’s sales, as their results are expected to come out later on this week which could make movement in markets, yet the European and American stocks managed to rise after the better than...

December 23, 2011| FX Empire Analyst - Irit R

Low Volume Trading Before Christmas Eve

Still the market is facing low volume trading, as investors are entering the holiday season, one day only to Christmas and trading is becoming thinner and the market's movement is limited in tight ranges, yet with some appetite for risk. And despite the slowdown in US economy’s growth during the third quarter, and despite the report that came today and showed a lower than expected income and spending in the US economy, nevertheless, jobless claims declined to the lowest level...

December 23, 2011| FX Empire Analyst - Barry Norman

Retailers Slashing Prices and Opening Longer Hours in Hopes of Last Minute Sales

Retailers are rolling out the red carpet, slashing prices and increasing store hours, in hopes of driving in these last customers of the holiday. Some retailers are offering after Christmas sale prices now, Anne Taylor Shops have discounted the entire store by 60%. While sprinkled markdowns are commonplace every year, discounts across entire stores — which analysts say are more widespread than last year — suggest merchants are stuck with too much merchandise. Usually retailers begin marking down slow turning...

December 22, 2011| FX Empire Analyst - Irit R

Stocks Edge Up After US Confidence Improves in November

Mix sentiments were spread among investors after the data that was released today, as the British data showed a better than expected growth in the final reading of the third quarter, furthermore, the US jobless claims declined last week to give some hope in markets. However, the US GDP report showed a slowdown in growth during the third quarter as today’s reading came below expectation to reach a growth by 1.8% compared with the previous and the estimated reading of...

December 21, 2011| FX Empire Analyst - Irit R

Pessimism Returned to Market and USD Trimmed Some Losses

By the start of the European session, currencies benefited from the optimism which extended from yesterday’s trading, yet optimism didn’t last as the European Central Bank offered more than expected loans for the euro-area banks. Knowing that the BoE released its meeting minutes today, where the vote to keep the rates at 0.50% and the Asset Purchase Facility at 275 billion pounds was unanimous, as policy makers await the impact of the program that will end in February. Noting that Asian...

December 20, 2011| FX Empire Analyst - Irit R

Investors’ Appetite for Risk Strengthens After the German and U.S. Data

Glimmer of hope returned to the markest following the release of German and U.S. data today, where Germany issued the IFO Business Climate index which came above expectations, which boosted risk appetite among traders, furthermore, the U.S housing data showed a rise in housing starts and building permits higher than forecasted. Moreover, Spain managed to sell as much as 3.7 billion euros of 3-month bills on 1.735% yields, down from 5.11% an auction earlier, while demand for the Spanish debt was 2.9 times the quantity offered compared with the previous of 2.8%. In addition, Spain...

December 19, 2011| FX Empire Analyst - Irit R

Caution Still Hovering While US Stocks Managed to Rise

Concerns continue to spread within the broad markets since this morning persisting till the opening of the US session, since investors are heading towards the low yielding assets after the announcement of the North Korean Leader’s death. Asian markets faced huge losses during today’s session, as Kim Jong’s death created fears regarding the global growth, noting that the Japanese relations may be affected after his death. Furthermore, the European finance ministers didn’t reach till now to a final solution on...

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December 19, 2011| FX Empire Analyst - Irit R

Kim Jong-il Death Trigger Caution

Risk aversion was seen across the global financial markets today after North Korean leader Kim Jong-il, 70, died on Dec. 17 of a sudden illness. Demand on safe haven intensified on fears of regional instability. Sharp losses were seen across Asia today while in Seoul Kospi Index fell by 3.43% as Kim Jong-il death triggered worries about global growth and muted hopes for nuclear talks with theUS. In South Korea alert levels were raised while the central bank was asked...

December 15, 2011| FX Empire Analyst - Irit R

Unstable Markets as Sentiment is Fragile and Data Disappoint

Markets remain under pressures although some correction was seen this morning following the sharp losses suffered yesterday. Concerns over the outlook of the European debt crisis will persist today after Fitch downgraded five major European banks. Yesterday yields on Italian 2-year bonds rose to a record high of 6.47%, the highest since 1997, while German yields fell to 0.29% highlighting that traders are heavily targeting safer investments as the global economic growth is being further damaged by the European debt...