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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.

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.

Greek exit from eurozone rumours circulating again

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.

Another strong session for the euro yesterday

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.

Pound at three month highs against US dollar

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.