Posts Tagged ‘personal finance’

Another crazy day as Draghi ramps up the rhetoric

Friday, July 27th, 2012

Mike Paterson’s daily Forex brief

One thing I’ve learnt over 30 years in the FX market is always expect the unexpected and so it proved yesterday when ECB President Draghi came out in the midday sun with all guns blazing (more…)

Pound lower on awful GDP data

Thursday, July 26th, 2012

Mike Paterson’s daily Forex brief

The Pound has come in for a timely reality check following yesterday’s worse than expected provisional Q2 GDP data which came in at – 0.7 % and –0.8% year on year. (more…)

Good two-way business again as traders tread warily in thin markets

Wednesday, July 25th, 2012

Mike Paterson’s daily Forex brief

Yesterday’s poor Richmond Manufacturing Index data from the US sent stocks tumbling and FX traders jumped on the band wagon to buy US Dollars again, perversely, as the risk-off sentiment targets other, more suspect, currencies first. (more…)

Eurozone fears persist as Moody’s issues warning on Germany

Tuesday, July 24th, 2012

Mike Paterson’s daily Forex brief

We’ve seen a day of relative consolidation but fears over the Eurozone persist as Spanish bond yields rise to new Euro-era highs and ratings agency Moody’s issued a negative warning on core member countries (more…)

Euro weakens again as Spain and Greece return to the spotlight

Monday, July 23rd, 2012

Mike Paterson’s daily Forex brief

Just as you thought the market was dealing itself into a little hole so the old Eurozone fears came dancing back to the fore and with renewed concerns over Spain and Greece defaults we’ve seen the Euro under attack once again. (more…)

A mixed bag again as traders wait for next move

Friday, July 20th, 2012

Mike Paterson’s daily Forex brief

We’ve seen less movement in the past 24 hours but still seen some volatility as traders look for more clues as to the next real move. (more…)

Up and down and up and down we go… (again…)

Thursday, July 19th, 2012

Mike Paterson’s daily Forex brief

Another day of ups ‘n downs in the wonderful world of foreign exchange as better than expected US corporate earnings gave a cheer after yet another sell off in earlier trading. (more…)

A roller-coaster ride as Fed Chairman Bernanke disappoints but QE3 not ruled out

Wednesday, July 18th, 2012

Mike Paterson’s daily Forex brief

Yesterday’s eagerly awaited testimony to Congress by Fed Chairman Ben Bernanke set the markets reeling as he failed to give clear signals that he was about to open the up the easing sluice gates. (more…)

Dollar weakens as traders anticipate QE3 plans from Bernanke today

Tuesday, July 17th, 2012

Mike Paterson’s daily Forex brief

After another wobble yesterday morning EURUSD rose steadily from lows of 1.2175 to recent highs of 1.2314 as traders started to speculate that Fed Chairman Ben Bernanke will tend toward further monetary easing when he testifies before Congress later today. (more…)

Euro finds respite on short-covering but fears remain

Monday, July 16th, 2012

Mike Paterson’s daily Forex brief

On Friday I suggested we might see some covering of long USD/ short Euro positions in the absence of any further impetus and so it proved. (more…)

Euro remains under pressure as concerns continue

Friday, July 13th, 2012

Mike Paterson’s daily Forex brief

Continuing concerns over the Eurozone and the US Fed’s FOMC minutes, released on Wednesday which suggested that they’re not in a rush for QE3, have given the Euro another tough 24 hours. (more…)

More of the same as traders remain bearish

Thursday, July 12th, 2012

Mike Paterson’s daily Forex brief

The USD $ has continued to be the traders’ choice at the moment as the global uncertainty casts its giant shadow over the markets. (more…)