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FX-Currency News Wednesday 21st March, 2012

Wednesday, March 21st, 2012

This morning as we write we see that the EUR/USD cross is advancing for the fifth consecutive session and seems now to have found strong support in the 1.3000 region.

A reports that has been carried out by the EU-ECB-IMF Troika mission has showed how Portugal‘s fiscal adjustment continues to exceed best expectations and this has been called remarkable and estimates that the goal of a 4.5 deficit is still valid according to the review.

In the UK the CPI and core CPI in February was in line with forecasts of 3.4% and 2.4% respectively on a year to year basis. The inflation however is still above the Bank of England limit and this is largely due to the increase of food and alcohol prices.

UK inflation eased to 3.4 per cent in February from 3.6 in January according to the Office for Statistics. The Bank of England’s target for inflation is 2%.

USD/JPY. As we write this morning the depreciation of the Japanese Yen seems unstoppable so far and this is shown by the relentless upside in the cross which was sparked at the beginning of February when it was trading in the 76.20 region.

The EUR/JPY failure to overcome resistance level at 111.57 may result in a dip which is likely to extend down to a support at 1.8.20. There is a bullish outlook which should be preserved as EUR/JPY is heading towards 113.29

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 Daily News Friday 16th March, 2012

Friday, March 16th, 2012

As we write this morning we notice that the USD/JPY has hit another milestone at the 84.00 level. Profit taking didn’t allow the pair to pass beyond 84.17 from where the decline began. After the pair lost its 84.00 handle the pair extended losses to 81.51. Currently the USD/JPY is trading at 84.65. There are currently 10 pips below Thursday’s opening price.

Fitch Ratings also announced yesterday that it has cut the outlook for the UK long term sovereign debt from stable to negative. Fitch has affirmed its AAA rating on the UK but the negative outlook means that there is a greater than 50% chance of a downgrade over a two year horizon.

This morning FX Analysts are seeing that the International Monetary Fund has formally approved a €28 Billion 4 year loan program for Greece as its contribution to the second bailout for the Hellenic Country. The IFM’s board cancelled the previous 3 year SBA program approved in May 2010.

The GBP/USD has had downtrend pressure since February 29th at 1.5991 and upside pressure from March 12th uptrend, since 1.5602 and is at 1.5688 right now. The pair is still trading on to the upside today at 1.5710.

In the USA the number of Americans claiming for unemployment benefit declined to the lowest level since 2008 this week and this suggests that the labor market is gaining momentum. The jobless claims fell by 14,000 to 351,000 according to the Department of Labor yesterday.

Swiss stocks have seen a gain for the seventh consecutive day after the International Monetary Fund approved the second bailout for Greece and the positive news that unemployment has fallen in the US.

This morning as we write the near term outlook for the USD/JY is negative and this is largely due to the possibility that the US Dollar may weaken to JPY 82.23. At the moment the correction is viewed only as temporary, leaving the overall bias bullish.

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 Market News Wednesday 14th March, 2012

Wednesday, March 14th, 2012

Fitch ratings have upgraded Greece’s long term sovereign credit rating from “Restricted Default” to B- which is the lowest level before speculative territory after the Hellenic country completed the private sector involvement (psi) debt swap. The ratings agency has commented that a successful debt restructuring could put upward pressure on Greece’s ratings and that the Country’s debt/GDP ratio could gradually start to decline to around 120% of GDP by 2020.

The USD/CHF cross is advancing for the second consecutive session climbing from the 0.9140 region on Tuesday to today’s high at 0.9274 so far.

In the US month on month retail sales have started to grow at the fastest pace in five months in February, suggesting the world’s largest economy is gaining steam even despite rising gasoline prices. Total retail sales rose 1.1 per cent from January.

The USD/JPY is currently breaking through a resistance at 82.83 and is confirming the point that the currency couple is aiming for 83.80 in the longer term. Supports are located at 82.23, 81.87 and 81.15.

The GBP/USD has rallied from a support at 1.5650/43 but the bias for the cable remains bearish due to a tough resistance area situated at 1.5752/1.5833. Additional support may be found at 1.5599, 1.5581 and 1.5500.

In the UK Januarys ILO unemployment rate is due later on and will give us all an idea of the evolution of the UK economy with may thinking that there will no change from 8.4%

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 Daily News Monday 12th March, 2012

Monday, March 12th, 2012

This morning as we write the EUR/USD is trading at 1.3089 which is approximately 5 pips above the sessions lows. This is largely due to the figures with regard to Japanese confidence data were releases and it has come out worse than expected pushing the USD higher across the board, along with the YEN and has sent equities lower.

Overnight the GBP/USD has traded sideways in the Asian Market having dipped as low as 1.5656 from its opening price and session highs of 1.5674 last at 1.5660. There is no UK specific data due today, price movements will probably be driven by market sentiments in the sessions ahead.

In the US unemployment has remained at 8.3% last month which has indicated that there could be a little stagnation in the US job market. On a positive the US did create 227,000 jobs in February and more people did find work than in the two months prior to this which suggests that the economy’s recent momentum is likely to continue.

In Japan the government ha kept up pressure on the central bank to further supporty an economic recovery. The Bank of Japan appears set to hold monetary policy steady at its regular policy meeting this week.

The USD/CHF currency couple is currently gaining momentum as it is being supported by strong levels at 0.9088/66 and 0.8931. The initial target lies at 0.9246 which guards 0.9317.

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 Foreign Exchange News Friday 9th March, 2012

Friday, March 9th, 2012

The Greece PSI deal has been completed with €172 billion bonds swapped with participation at 85.8% vs expectations running as high as 90/95% although the numbers are staying very much in line with the first initial pre-announcement by Greek officials at the New York close.

The EUR/USD has rallied along with the risk relates assets on Thursday from 1.3140 zone to levels that are shy of 1.3300 on renewed hopes of a successful bond swap. This morning we are seeing the cross grinding lower ahead of the PSI operation and the US NFP due later on.

The Bank of England declared yesterday that is holds the record low 0.5% interest rates and has been at this level for three years.

The European Central Bank has lowered its euro zone growth forecast after holding interest rates at record lows/. They also commented that things would have been much worse without this action to pump a trillion euros into the banking system.

The EUR/JPY currency couple is advancing further. It has overcome a resistance located at 108.75, EUR/JY should focus on attaining109.38/58 . Subsequent levels are situated at 110.26 and 111.57.

The Japanese economy contracted less than the government estimated in the fourth quarter which has improved growth prospects. Gross domestic product fell 0.2 points from the previous three months.

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 Daily News Wednesday 7th March, 2012

Wednesday, March 7th, 2012

As we write this morning the EUR/USD single currency is printing fresh highs as the greenback is showing some signs of weakness on Wednesday. The cross is trading in the red for the second week after yesterday’s sell off hit the risk associated assets. Later today factory orders in Germany as well as US mortgage applications and ADP data are due later on. As we write the EUR/USD is currently at 1.3137 retreating from session highs at 1.3150.

The retail sales in the UK dropped in February for a second month as a decline in clothes purchasing offset the gains from food purchases. Sales at stores that are operating at least one year fell 0.3% on an annual basis. The Bank of England expects slowing inflation to bolster consumption the surge in unemployment and oil prices could curb the spending.

The USD/CVF cross has remained indifferent this morning after the unemployment rate in the Helvetic economy showed no variation in February at 3.4%.

The GBP/USD has failed to rise above the $1.60 level and did not withstand the bearish pressure 1.5650 has now come into play and resistance may be found at 1.5886 and 1.6000.

President Obama announced yesterday a cut in government backed mortgages that he said could help millions of homeowners refinance. part of an election year push to boost the shaky US housing market.

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 5th March, 2012 FX Foreign Exchange News

Monday, March 5th, 2012

As we write this morning the USD/JPY has plunged into the 81.20 zone form a daily high of 81.85. last quoted at 81.25 to record a 0.60% loss so far on the day.

In the UK Barclays Bank revealed that is borrowed 8.2 billion from ECB through Central Banks LTRO. This means that Barclays has become the third bank after HSBC and Lloyds to have accepted this low interest loan opportunity. Analysts have shared controversial views on whether participating in the LTRO is a definite sign of a financial institutions balance sheet stability.

The USD/CHF is currently trading lower this morning as risk sentiment is starting to creep back to the markets and the greenback is showing signs of weakness after the Asian Session. The annual retail sales data for Switzerland in January is due later on today with many expecting around an increase of 2.1% after December 0.6% print.

This has renewed concerns about the strength of the Swiss franc ahead of the SNB’s quarterly monetary policy meeting on March 15th. The acting president T Jordan has stressed that the franc is excessively massively overvalued.

In Japan, household spending 2.3% in January from the same period last year and unemployment rose by 0.1%.

In the week ahead the EUR/USD is expected to seek for lower levels. At the moment the pair is approaching an uptrend at 1.3156 which guards 1.3072. The ERUR/USD is capped by 1.3322 and 1.3389

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 News from FX Foreign Exchange on Friday 2nd March, 2012

Friday, March 2nd, 2012

There has been a meeting with the euro zone finance ministers in Brussels and the Euro group president Jean-Claude Juncker has said that Greece has taken all of the legal action required to secure a second bailout from the euro zone countries which is paving the way for the first tranche to be paid out by March 20th.

The disbursements of the EFSF bonds and final approval require a successful completion of the debt restructuring and a final assessment of Greek measures from the troika. It is highly likely that the vote will come in the form of a teleconference on Friday March 9th.

With the dust starting to settle market traders are now looking towards the ISDA resolve as it has ruled that there is no credit event after the recent bonds swap.

As we write this morning the GBP/USD is under slight pressure before the European opening having traded at a narrow range of 1.5939 – 1.5964 during the Asian session and was last seen at 1.5942 late in New York.

In the UK manufacturing grew for a second month in February which has added positive signs to the economy that it could avoid recession this quarter. The Japanese stocks declines on Thursday as the JPY edged higher which has dimmed the outlook for exporters.

The EUR/USD is currently bearish and is expected to decline even further. The support area of 1.3199 has already been attained with targets lying at 1.3141 and 1.3070.

The USD/CHF is starting to challenge resistance this morning at 0.9066/88 and this has to be overcome in order for the price to inch higher.

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-Foreign Exchange Daily News 29th February, 2012

Wednesday, February 29th, 2012

As we write this morning the EUR/USD is trading a little lower ahead of the second 3 year LTRO auction due later on today. The consensus on the market us that they expect a take up of about €400 bn – €500 bn. According to many analysts. Far less or far above that range could be considered negative for the markets, triggering a risk off event.

The GBP/USD tough resistance zone at 1.5898/1.5927 did not manage to halt the pair. Therefore GBP/USD is now aiming for 1.6000 with supports located at 1.5901 and 1.5894.

The Irish Prime Minister Enda Kenny has just announced that Ireland will hold a referendum on the EU new fiscal treaty. Irish people will be asked for their authorization in a referendum to ratify the European stability treaty and have said that referendum is required but government will push the yes vote.

Confidence in the single currency bloc has risen more than expected in February which is hopefully a sign that the economy is recovering after a contraction in the fourth quarter. In the US consumer confidence has risen to a one year high in February as consumers are becoming more optimistic on the outlook of the country’s economy.

In Japan the year on year retail sales advanced 1.9 per cent in January, after increasing 2.5 per cent in December according to the Ministry of Economy, Trade and Industry on Tuesday. Sales had been boosted by a surge in demand for cars.

As we write this morning the EUR/USD is heading towards 1.3550 with a possibility to extend current bullish correction up to 1.3628.

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-Foreign Exchange Daily News Friday 24th February, 2012

Friday, February 24th, 2012

Yesterday saw the Greek government approving a law which allows the execution of the debt swap for private creditors. The debt swap constitutes a crucial part of the Euro zone bailout package approved by the Euro group on Tuesday, this is meant to reduce Greek debt by a 100 billion euros. Supposedly, the country’s liabilities are supposed to decrease from 160% GDP to 120% by 2012.

This morning we see that the bloc currency EUR/USD is trading lower on Friday ahead of the GDP figures in Germany which are due a little later. They hit a fresh two month high at 1.3379 earlier in the Asian session but the cross is now leading back to the 1.3360 region which means they are now trading in a narrow range of almost 20 pips.

The BBA mortgage approvals which were released on Thursday raised more than expected and the CBI industrial order expectations recovered today more than analysts forecast.

There was more evidence that the labor market is improving as the number of Americans filing first time claims for unemployment insurance payments held at a four year low. Applications for jobless benefits were unchanged in the week ending Feb 18th at 351,000 which is the smallest amount since March, 2008.

In Germany business confidence improved more than expected in February and has defied fears that the euro zone largest economy has slipped into recession.

Both near and long term outlooks are bullish for the USD/JPY. Levels at 80.17/79.97 and 79.85 provide sufficient support for the pair to challenge 80.41

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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