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FX-Foreign Exchange Daily News Monday 6th February, 2012

Monday, February 6th, 2012

As Greece gets ever closer to bankruptcy the talks to resolve the issue of restructuring the private held debt by Greece remains very slow and it appears it is no longer going ahead until there is enough guarantees that Athens can implement more severe austerity reforms. We understand that Athens is now pursuing the banks, insurers and ECB to take losses of about 70% so that Greece can ease its 100 BLN Euro debt burden with a 14.5 billion Euro deadline due to be paid by mid march.

This morning the EUR/USD is trading in the lower end of Monday’s range as the uncertainties in Greece are weighing hard in market sentiment.

The service sector of the UK has started 2012 on a positive note with business and activity expanding at a faster pace. The Business activity index hit the 10 month high pace of 56.0 last month compared t 54.0 in December’s reading. The sentiment also improved as business expectations soared to more than 15 year high.

The Euro zone retail sales declined unexpectedly in December. Retail sales fell 0.4 per cent from November after declining by the same amount in October.

The EUR/JPY is attempting to base around 99.00/98.90 and in the meantime rallies are unlikely to extend above 55 day ma at 1.1.21 and additional resistance at 102.55/60. Below 99.00/98.90 the pair will target 97.04.

The AUD/USD is trading in a tight range around 1.710-30 due to weak inflation report and the retail sales in Australia which after a stronger European opening, the pair has revolved to the downside to test the 1.0700 level.

We report on the current global currency exchange movements and offer our clients the very best currency exchange rates available. Our specialty is the ability to offer competitive time option forward currency contract rates. If this is not the most recent daily currency exchange news report, view the most recent news here Buy and sell currency at the best global currency exchange rates available today through FX-ForeignExchange,0044 (01480) 458400 or 07525 984456. This daily global currency exchange report is for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. FX-currency exchange cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

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Foreign Exchange News Tuesday 31st January, 2012

Wednesday, February 1st, 2012

According to sources this morning the Fiscal Compact has been ratified by 25 of 27countries across the European Union in the first economic summit of the year that was held yesterday in Brussels. This treaty will enforce countries that don’t have a bigger debt ratio than 60% of GDP and to fix their budget balance. Any countries that do not ratify the Treaty will not have access to the bailout fund.

It is thought that the long awaited agreement with regard to the debt swap between Greece and its private creditors may come into fruition shortly. We understand that there are some minor loose ends but the parties have been closing the differences for a debt swap that would see 100 billion taken off of Greece’s debt burden.

House prices in the UK stalled in January and this was mainly caused by the nationwide lack of purchasing power. On a year to year basis prices have fallen by 1.6% last month. The UK economy contracted by 0.2% in Q4, 2011.

The EUR/USD followed the upside during the European session on Monday into the Asian trading sessions climbing upto 1.3199 so far and with the expectation of 1.3200.

Swiss stocks lost ground on Monday after Greece and its private bondholders failed to finalise a debt swap agreement last week.

It is expected by FX analysts that the GBP/USD is attempting to break through a tough resistance situated at 1.5770/80. In case the currency pairs are successful, it will target 1.5810 and 1.5964 next. Supports at 1.5645 and 1.5570 should cover losses if any occur.

We report on the current global currency exchange movements and offer our clients the very best currency exchange rates available. Our specialty is the ability to offer competitive time option forward currency contract rates. If this is not the most recent daily currency exchange news report, view the most recent news here Buy and sell currency at the best global currency exchange rates available today through FX-ForeignExchange,0044 (01480) 458400 or 07525 984456. This daily global currency exchange report is for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. FX-currency exchange cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

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Daily FX News Monday 20th January, 2012

Monday, January 30th, 2012

The weekend has passed and as we understand no agreement has been made in the Greek PSI talks. We understand that its private creditors may come in to fruition shortly ad this is according to representatives dealing with the negotiations. It is thought that despite come minor loose ends that parties have been closing in differences for a debt swap that would see 100 billion Euro wiped off Greece’s debt burden.

With this agreement private investors would receive new bonds with face values half of the existing bonds and with a longer maturity and they would pay an average interest rate of slightly less than 4%. It is thought that the final deal will be put together and announced that a new 130 billion Euro loan programme for Greece which is being pieced together by the “Troika” and this is largely hoped that it will assist Greece in it’s loan borrowing through to 2015.

The Australian dollar has accelerated its downside on Monday after Fitch has placed four of the major banks on rating watch negative. The commodity currency was trimming some of the last weeks gains in Asian Sessions as disappointment circling the Greek front has triggered risk aversion.

The EUR/JPY has been in steady decline since the weekly opening and slipped to a low of 100.97 from an earlier session high of 101.43as an increase in global risk aversion stimulated broad demand for JPY safety. The pair saw an early boost from the reports that the Greek government are close to a new debt swap agreement.

New home sales declined in the US by 2.2% in December. The sales declined to 307,000 units on a seasonally adjusted basis while analysts expected the sales to rise by 2% to 320,000 units. On a positive note the gross domestic product in the US rose 2.8% and ended the economy for 2011 on a positive note.

Spain’s unemployment has increased to 22.8 percent in the last period of 2011 from 21.5 percent in the previous quarter and has surpassed the 5 million mark.

We report on the current global currency exchange movements and offer our clients the very best currency exchange rates available. Our specialty is the ability to offer competitive time option forward currency contract rates. If this is not the most recent daily currency exchange news report, view the most recent news here Buy and sell currency at the best global currency exchange rates available today through FX-ForeignExchange,0044 (01480) 458400 or 07525 984456. This daily global currency exchange report is for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. FX-currency exchange cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

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Friday 27th January, 2012 Fx News

Friday, January 27th, 2012

As we write this morning there are hopes of some progress and this has in turn spurred market optimism. There are rumors circulating that the meeting between the head of the institute of International Finance and senior bankers in Paris resulted in a new private sector creditors offer an interest rate of 3.75%.

The EUR.USD is clinging to 1.3100 after the close in the Asian session where it has traded in 1 1.3080-3115 range. Risk related assets were still well demanded on Thursday although the bid pressure did wane towards the end of trading in America as the PSI failed to deliver positive announcements along the day.

In the US the number of people seeking unemployment benefit rose to a seasonally adjusted 377,000 which was up from a four year low the previous week. In the long term all signals are pointing to a healthier job market.

UK retail sales fell in January according to the confederation of British Industry. Sales declined to -22 from 9 in December with above 0 indicating higher sales volumes and below 0 indicate lower.

GBP/USD The Cable is expected to move unto 1.5770/80 after it breaks through 1.5680 resistance. Initial support may be found at 1.5618 while subsequent lines are located at 1.5579 and 1.5544.

We report on the current global currency exchange movements and offer our clients the very best currency exchange rates available. Our specialty is the ability to offer competitive time option forward currency contract rates. If this is not the most recent daily currency exchange news report, view the most recent news here Buy and sell currency at the best global currency exchange rates available today through FX-ForeignExchange,0044 (01480) 458400 or 07525 984456. This daily global currency exchange report is for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. FX-currency exchange cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

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Friday 27th January, 2012 Fx News

Friday, January 27th, 2012

As we write this morning there are hopes of some progress and this has in turn spurred market optimism. There are rumors circulating that the meeting between the head of the institute of International Finance and senior bankers in Paris resulted in a new private sector creditors offer an interest rate of 3.75%.

The EUR.USD is clinging to 1.3100 after the close in the Asian session where it has traded in 1 1.3080-3115 range. Risk related assets were still well demanded on Thursday although the bid pressure did wane towards the end of trading in America as the PSI failed to deliver positive announcements along the day.

In the US the number of people seeking unemployment benefit rose to a seasonally adjusted 377,000 which was up from a four year low the previous week. In the long term all signals are pointing to a healthier job market.

UK retail sales fell in January according to the confederation of British Industry. Sales declined to -22 from 9 in December with above 0 indicating higher sales volumes and below 0 indicate lower.

GBP/USD The Cable is expected to move unto 1.5770/80 after it breaks through 1.5680 resistance. Initial support may be found at 1.5618 while subsequent lines are located at 1.5579 and 1.5544.

We report on the current global currency exchange movements and offer our clients the very best currency exchange rates available. Our specialty is the ability to offer competitive time option forward currency contract rates. If this is not the most recent daily currency exchange news report, view the most recent news here Buy and sell currency at the best global currency exchange rates available today through FX-ForeignExchange,0044 (01480) 458400 or 07525 984456. This daily global currency exchange report is for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. FX-currency exchange cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

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Foreign Exchange News Wednesday 25th January, 2012

Wednesday, January 25th, 2012

There have been little developments in the Greek bond swap and this is leading people to think that the longer it takes the tougher it will be for Greece and its debt holders to reach common ground over a much needed agreement to avoid a default. This caused an unsettled market earlier in Europe yet this proved to be fleeting with the EUR/USD ending back above 1.3000 as investors appeared to believe once again on a positive conclusion in Greek PSI talks.

The Japanese currency has accelerated its appreciation against its American counterpart yesterday after the publication of the trade balance figures printed a deficit. The cross is posting gains for the third consecutive day and as we write is advancing 0.29% at 77.90.

The UK government debt has reached a record high of GBP 1 trillion after gbp 833 last year according to official data. The current amount of debt represents 64.2% of gross GDP. The officials claim that this shows that the government is spending too much and have called for severe austerity.

As we write this morning the EUR/CHF is pricing at 1.2102 and analysts have pointed to resistances at 1.2100 followed by 1.2130 and 1.2195.

The Bank of Japan has downgraded Japan’s growth outlook but kept monetary policy on hold on Tuesday as strong yen and weak global demand weighed on exports.

We report on the current global currency exchange movements and offer our clients the very best currency exchange rates available. Our specialty is the ability to offer competitive time option forward currency contract rates. If this is not the most recent daily currency exchange news report, view the most recent news here Buy and sell currency at the best global currency exchange rates available today through FX-ForeignExchange,0044 (01480) 458400 or 07525 984456. This daily global currency exchange report is for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. FX-currency exchange cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

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Daily Foreign Exchange News Monday 23rd January,2012

Monday, January 23rd, 2012

As we write this morning we see that the EUR/USD has remained below 1.2905 for the whole of the Asian Session which is a 0.38 retrace of the last leg down 1.2985/1.2855. It is currently attempting the upside around 1.2896.

Over the weakened there has not been any breakthrough news on Greece and the debt negotiations with the private creditors still not agreeing to the terms set by Greece and IIF on a debt swap. With no deal in place the FX market has reacted by dumping a few more Euros which has thus resulted in wide downside gaps through interbank trading. It is expected that the talks will drag into a third week and through to next weekend.

The GBP/USD has opened in London 36 pips below Friday’s close at 1.5576, the GBP/USD pushed its quote to the upside during the Asian Session but during the European opening it’s pressuring the pair down and quoting at 1.5538 after touching 1.5533 a session low

In the US sales of existing home rose for a third consecutive month in December which is a sign that the housing market is gaining momentum. Our purchases grew 5 per cent to a 4.61 million annual rate.

In the UK the 0.6% increase in sales volumes in December has boosted hopes that the economy avoided contraction in the fourth quarter of 2011.

The USD/CAD has opened Monday trading 30 pips above Friday’s close and from 1.0157 high; the pair lost gradually every pip since the Asian session.

We report on the current global currency exchange movements and offer our clients the very best currency exchange rates available. Our specialty is the ability to offer competitive time option forward currency contract rates. If this is not the most recent daily currency exchange news report, view the most recent news here Buy and sell currency at the best global currency exchange rates available today through FX-ForeignExchange,0044 (01480) 458400 or 07525 984456. This daily global currency exchange report is for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. FX-currency exchange cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

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Daily Foreign Exchange News Thursday 19th January, 2012

Thursday, January 19th, 2012

As we write this morning we learn that according to IMF sources the organizations intends to boost its lending capacity by 600 billion dollars and this in the hope that they will be better prepared to shield the global economy from the EU debt crisis. It is thought that Eurozone nations will provide 150 billion dollars whilst the other EU member states might contribute 50 billion.

The EUR/USD bloc currency has climbed as high as 1.2878 during the Asian Session in a continuation of the rally sparked on Monday. It is currently advancing 0.1% at the moment in its fourth consecutive session in positive ground at 1.2865 which is closer to the first hurdle at 1.2879 followed by 1.2898 then 1.2946.

Goldman Sachs reported a profit drop of 58% and the fall in revenues was followed by a deep cut in employee compensation.

In the UK unemployment increased by 118,000 during the three months until November. The unemployment rate rose to 8.4% from 8.3% in the previous reading. The unemployment claims in December increased by 1200.

This morning as we write the Sterling is posting minimum loses on Thursday ahead of the opening bell in London. The Cable has also followed the single currency in the upside since Monday, after risk appetite was boosted by successful auction bonds and strong European and Chinese data.

The extended decline of the USD/CHF has led the pair to lose the 0.9500 handle and recently the 0.9400. The pair remains close to the psycological level and the European opening volume is strengthening the cross to attempt at holding ground.

We report on the current global currency exchange movements and offer our clients the very best currency exchange rates available. Our specialty is the ability to offer competitive time option forward currency contract rates. If this is not the most recent daily currency exchange news report, view the most recent news here Buy and sell currency at the best global currency exchange rates available today through FX-ForeignExchange,0044 (01480) 458400 or 07525 984456. This daily global currency exchange report is for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. FX-currency exchange cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

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FX-News Tuesday 17th January, 2012

Tuesday, January 17th, 2012

As we write this morning the sterling (GBP/USD) is advancing for the second day and is currently firmly trading in the 1.5360-76 range and this is ahead of the inflation data due later today and the expectation is that there will be a sharp drop in the CPI figures in the months ahead.

The EUR/USD single currency is keeping alive the upside that sparked in the first hours on Tuesday, trading at the moment in the upper end of the range propped by stronger than expected data from the Chinese economy and the news of the EFSF downgrade to AA + by Standard & Poor seems to be well digested.

It was announced yesterday that the UK plans on making London the central international hub of Chinese Yuan trading and Mr. Osborne added that Britain was perfectly located to serve as a Gateway between Asia and Europe. This is good news for the global currency exchange Industry.

In Europe new car registrations in Europe declined 5.8% in December to 995,404 with registrations down across the board with the exception of Germany and the European automobile manufacturers association.

The Asian market seems to have grown on unexpected Chinese growth data as retail sales grew by 18.1% in December higher than the consensus of 17.1% and November 17.2%. Being the major business partner, China’s sentiment has spread to Australia, South Korea and Japan.

We report on the current global currency exchange movements and offer our clients the very best currency exchange rates available. Our specialty is the ability to offer competitive time option forward currency contract rates. If this is not the most recent daily currency exchange news report, view the most recent news here Buy and sell currency at the best global currency exchange rates available today through FX-ForeignExchange,0044 (01480) 458400 or 07525 984456. This daily global currency exchange report is for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. FX-currency exchange cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

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Monday 16th January, 2012 Foreign Exchange News

Monday, January 16th, 2012

FX analysts are predicting that there will not be much time left for the dust to settle following the mass Standard and Poor rating cut of 9 Euro zone countries. The bloc leaders now face the real possibility of Greece being the first to default on its debt following the collapse of talks between Greece and IIF over the coupon on replacement bonds. It looks like it is going to be a very interesting and monumental week with the interbank market getting louder and louder that a return to Drachma is imminent.

The YEN has resumed its appreciation against the greenback after the improvement in the Consumer Confidence index to 38.9 in December from 38.1 and the 0.1% increase in the Domestic Corporate Goods PI MoM in the same period.

On Friday Barrack Obama formally notified the congress that US government needs to borrow another $1.2 trillion to meet existing commitments. Congress should vote during the next 15 days on the approval of the proposal that may raise debt ceiling to about 16.4 trillion. The government was near default in 2011 exceeding its debt ceiling.

The AUD/USD has seen the Australian dollar trading near a range of 1.0250/10300 range so far this Monday, last quoted near the Asian open, around 1.0280.

The outlook for the EUR/USD will remain negative as long as a cluster of resistances at 1.2913/20 stays in place. As we write the pair is moving towards 1.2530/88.

The EUR/USD has risen ahead of the French debt auction trading at 1.2672. Markets will be eyeing the sovereign sale to understand the repercussions of the one notch downgrade by the S & P rating agency.

We report on the current global currency exchange movements and offer our clients the very best currency exchange rates available. Our specialty is the ability to offer competitive time option forward currency contract rates. If this is not the most recent daily currency exchange news report, view the most recent news here Buy and sell currency at the best global currency exchange rates available today through FX-ForeignExchange,0044 (01480) 458400 or 07525 984456. This daily global currency exchange report is for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. FX-currency exchange cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

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