Richard Driver, Currency Market Analyst, Caxton FX

Trading commentary: CaxtonFX

Richard Driver is a Currency Market Analyst at Caxton FX.

Euro gains anything but spectacular

22 February 2012
The euro traded robustly in the wake of the news that Greece will receive a second bailout and avoid defaulting next month.

Greece deal finally in place

21 February 2012
Eurozone finance ministers have finally struck a deal on granting Greece a second bailout worth €130bn, with the aim of cutting the country’s debt to GDP to 121% by 2020.

People’s Bank of China has cut its reverse ratio

20 February 2012
The major news in the markets this morning is that the People’s Bank of China has cut its reserve ratio, so as to boost lending and stimulate the Chinese economy.

Another missed opportunity to break ground in Greece

17 February 2012
Yet another opportunity to break some ground in Greece was missed at yesterday’s gathering of eurozone finance ministers.

Another missed opportunity to break ground in Greece

16 February 2012
Yet another opportunity to break some ground in Greece was missed at yesterday’s gathering of eurozone finance ministers.

Today’s conference call does not inspire much confidence

15 February 2012
Today’s main event is highly likely to be the conference call between eurozone finance ministers. However, the fact it represents a downgrade from what was meant to be a proper meeting does not inspire much confidence.

Greek austerity vote fails to trigger an upside move for the euro

14 February 2012
The Greek austerity vote failed to trigger an upside move for the euro as Moody’s cut the AAA outlook for the UK, France and Austria to negative, whilst downgrading Italy, Portugal and Spain.

Still no deal between Greece and its creditors

13 February 2012
The headlines today are that the Greek parliament has passed the austerity measures required for the release of a second bailout package.

The Bank of England went with consensus expectations yesterday

10 February 2012
The Bank of England went with consensus expectations yesterday by introducing a further £50bn in quantitative easing, to take the programme up to £325bn.

Another day without a Greek deal

9 February 2012
Another day has gone by without a Greek deal and some newspapers are reporting that a deal will finally arrive today, though we have heard this all before.

Tuesday saw investors get excited about a draft bailout agreement out of Greece

8 February 2012
Tuesday’s session saw investors get excited about a draft bailout agreement out of Greece, with the euro making some impressive gains.

The situation in Greece seems to get more shambolic by the day

7 February 2012
The situation in Greece seems to get more and more shambolic by the day. Yesterday’s “deadline” came and went with a degree of anticlimax and confusion.

Monthly US non-farm payroll update positive

6 February 2012
The monthly US non-farm payroll update came in very positively last Friday, which provided a risk-on tone moving into the weekend.

Sterling holds on to its recent gains

3 February 2012
Sterling held onto its recent gains yesterday, as the latest Construction PMI reading showed that the industry was still in growth territory despite undershooting market expectations.

The pound has another good day against its US counterpart

2 February 2012
The pound had another good day against its US counterpart yesterday, cementing its two-and-a-half month high, as Manufacturing PMI data in the UK showed a surprising return to growth.