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Richard Driver, Currency Market Analyst, Caxton FX

Richard Driver, Currency Market Analyst, Caxton FX

Trading commentary: CaxtonFX

Richard Driver is a Currency Market Analyst at Caxton FX.

Conditions not positive for the euro

Posted on: 18 September 2012

Conditions weren’t so positive for the euro and riskier assets on Monday. The markets had to take a breather at some point after last week’s rallies and investors decided to do so yesterday.

Will Greece be cut some slack?

Posted on: 17 September 2012

There were hints on Friday that Greece may finally be cut some slack, with IMF chief Christine Lagarde suggesting that the country may be allowed more time to make the necessary fiscal adjustments.

Fed announces QE3

Posted on: 14 September 2012

So the US Federal Reserve has finally done it; it announced QE3 last night in the form of additional mortgage backed security purchases amounting to $40bn per month.

The euro’s strong session

Posted on: 13 September 2012

The euro had an unsurprisingly strong session as it surfed the positive sentiment that flowed after the German Constitutional Court’s relieving approval of the European Stability Mechanism.

Moody’s threatens to downgrade US AAA credit rating

Posted on: 12 September 2012

Ratings agency Moody’s gave the US dollar another sucker punch yesterday by threatening to downgrade the United States’ AAA credit rating if the Congress does not make any headway on the US fiscal cliff.

Markets calmer yesterday

Posted on: 11 September 2012

With the major market interest resting with events from Wednesday onwards, things were noticeably calmer on Monday.

US job data pushes leaves dollar weak

Posted on: 10 September 2012

In last week’s action-packed start to the month, we had to wait until very late on for the major swings in the exchange rates that seemed so likely.

Market reflects on Draghi’s comments

Posted on: 7 September 2012

The market couldn’t initially work out what it thought about ECB President Draghi’s comments yesterday. After first declining, the euro is back on the up at familiar levels...

Market sentiment turned positive yesterday

Posted on: 6 September 2012

Market sentiment turned positive towards the euro again on Wednesday, as reports from two ECB officials confirmed that the central bank’s top dog Mario Draghi is in favour of unlimited bond-buying.

UK ecomony not all doom and gloom

Posted on: 5 September 2012

It's not necessarily all doom and gloom with respect to the UK economy, with the UK services sector (possibly given a leg up by the Olympics last month) returning to a comparatively robust pace of growth.

Euro firm ahead of ECB meeting

Posted on: 4 September 2012

With North America on holiday, Monday’s session represented a quiet start to September. The euro was firm as the market set its sights on potential ECB bond-buying on Thursday.

Bernanke fails to offer fresh hings of QE3

Posted on: 3 September 2012

Friday’s all-important Jackson Hole meeting saw Fed Chairman Ben Bernanke fail to offer any fresh hints that QE3 is imminent.

More jawboning from EU leaders

Posted on: 31 August 2012

Thursday’s session saw plenty more jawboning from EU leaders, this time from Spanish PM Rajoy and French President Hollande.

Merkel praises Italy’s efforts at economy reform

Posted on: 30 August 2012

Wednesday’s meeting between Merkel and Monti saw the former praise Italy’s efforts to reform its economy.

Strong day for single currency yesterday

Posted on: 29 August 2012

Tuesday was a strong day for the single currency, as the market turned a blind eye to some more alarming news from Spain in the form of anther Catalonian aid request.