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Trading commentary: CaxtonFX
Richard Driver is a Currency Market Analyst at Caxton FX.
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.
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.
Posted on: 11 September 2012
With the major market interest resting with events from Wednesday onwards, things were noticeably calmer on Monday.
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.
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...
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.
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.
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.
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.
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.
Posted on: 30 August 2012
Wednesday’s meeting between Merkel and Monti saw the former praise Italy’s efforts to reform its economy.
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.
Posted on: 28 August 2012
Rumours continued to circulate on Friday that Greece could temporarily exit the eurozone but it seems the market applied the appropriate level of scepticism to these dubious reports.
Posted on: 24 August 2012
Eurozone growth data may have been weak even by the very low global standards that are being set at present, but the figures were at least not as bad as expected.
Posted on: 23 August 2012
The pound helped itself to a new 3 month high against the US dollar yesterday as the release of last nights minutes from the Federal Reserve came in more dovish than expected.