Currency Markets Patiently Awaiting President Draghi’s Plans
Was ECB President Draghi’s promise to defend the integrity and future of the euro premature? All we have so far is a bunch of guesses of what the future defense of the euro might be.
Author: CashBackForex.com
Speculators Reduce USD Long by Over 45,000 Contracts
Commitment of Traders (COT) Report 24 July 2012. The latest COT report shows that speculators reduced their net USD long by 45,518 contracts.
Anticipating This Week’s Currency Drivers
Currency markets last Friday continued to digest Thursday’s statement from ECB President Draghi, trying to glean how markets will be influenced by such changes. No doubt rumours will continue to swirl until we get confirmation of the...
Draghi Comments Buoy The Euro And The Equity Markets
The European Central Bank President, Mario Draghi, at a meeting in London yesterday, led cheers for the future of the euro. Draghi said: “Within our mandate, the ECB is ready to do whatever it takes to preserve...
Speculators Increase USD Long and Euro Short
Once again currency futures speculators increased their euro and Swiss franc shorts. The total euro short advanced to 204,608 contracts and the SF to 35,035. Since the Swiss National Bank has pegged the franc with the euro,...
Can We Believe The Chinese Economic Numbers?
Friday 13th 2012. One of the reasons given for the modest rally in European stocks today is the Chinese GDP released last night. It had been estimated the quarters GDP would be down to 7.7%, last year it...
More Euro Difficulties Seem Likely
Yesterday in Madrid Spanish Prime Minister Mariano Rajoy, bending to the wishes of Berlin and Brussels, announced the next dose of austerity, intended to produce €65B in savings. The previous austerity measures have sent unemployment soaring, 24% overall...
Will Negative Japanese Economic News Harm The Yen?
To the chagrin of the Bank of Japan, who would prefer to have a lower yen, and the many Japanese exporters harmed by the elevated yen, the turmoil in Europe continues sending haven buyers to seek the...
Economic Numbers Continue Bearish – Where Do We Buy The Swiss Franc?
Continuing from last Thursday’s trend when the Europeans and the Chinese cut their bank rates, and the Brits commenced another £50B of quantitative easing, Friday’s numbers continued bearish. Most significant were the US employment numbers.
Late Week Economic Data Keeps Currency Markets On Edge
The markets are being bombarded with an abundance of late week data, and there is more to come Friday. Much of the data has been properly anticipated.