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Trading commentary: CaxtonFX
Richard Driver is a Currency Market Analyst at Caxton FX.
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.
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.
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.
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.