Forex Blog | Online Forex Trading - Learn currency trading, forex broker review, trade forex guide - Part 6

All Eyes on ECB As Greece Drops Further Into Recession

Published October 3rd, 2012 by Onlineforex.net

Greek banks flagAs Greece slips into an ever deepening recession with unrest and protests reported across the country, the fate of the Europ hangs by a thread. With increasing risk of a Greek default, the Euro may slip against the dollar from its current high of 1.298/dollar.

Euro against dollar

After a brief rally that surged the Euro to 1.298 against the dollar, the looming threat of an European recession spurred by failing austerity measures in Greece and Spain has once again triggered a downward spiral of the Euro against the dollar. The coming few weeks will be crucial for forex traders are Read the rest of All Eyes on ECB As Greece Drops Further Into Recession »

Greek Bailout is Unlikely

Published September 24th, 2012 by Onlineforex.net

Euro News – Greek Bailout Unlikely as Country’s Deepening Financial Crises Continues

Greece Euro crash
As Greece continues to fail in securing its next ECB bailout, the country’s financial crises only looks set to deepen.

The Euro, which has pared the overnight advance to 1.3046, is likely to face even more near-term headwinds in light of the continuing Greek financial crises. The ECB, European Union and the IMF (Troika), will re-assess Greece’s financial commitments in a week’s time, within which the 11.6B austerity programme – which many feel will not be enough -will remain under review. On the other hand, recent news that Greece may plan on introducing additional taxes is thought could raise an additional 2B in EUR.

Online forex traders will want to take note that President Axel Weber, former president of Bundesbank, has expressed concerns that the ECB may only simply be Read the rest of Greek Bailout is Unlikely »

Euro rises to a 4-month high against the Dollar

Published September 14th, 2012 by Onlineforex.net

Euro rises to a 4-month high against the Dollar as the German Constitutional Court Approves of a multi-billion Euro Rescue Plan

The German constitutional court on 12 September, 2012 approved of the German government’s participation in the Euro zone’s latest rescue plan, pushing the Euro to a 4-month high against the dollar and other currencies. The Court allowed the government to contribute as much as €190 billion Euro to the rescue plan without having to take permission from the German parliament. These terms buoyed the sentiments in the forex market, which was expecting tougher terms from the Court.

German court verdict supporting EURO raise

Within hours of the Courts verdict, the Euro rose 0.35% against the US dollar to close at 1.2899. It continued to rise on 13th September, when it closed at 1.2985. Read the rest of Euro rises to a 4-month high against the Dollar »

Euro weakens despite ECB bond plan

Published September 5th, 2012 by Onlineforex.net

European Central bank in FrankfurtThe Euro weakened on Tuesday, falling 0.2% against the dollar from the two month high it reached on 31st August, which had seen some investors optimistically forecasting that the currency was rallying.

This came after the European Central Bank (ECB) stated that they will be prepared to buy bonds with maturities of up to 3 years. Despite investors welcoming this news, the fall reflects their fears that it may not be enough to contain the European debt crisis.
Read the rest of Euro weakens despite ECB bond plan »

United States outlook, impact on USD/EUR

Published August 23rd, 2012 by Onlineforex.net

Euro Dollar trading valueIn the latest forex news, the US dollar has slid considerably in comparison to other major currencies.

While earlier this month many forecasts were bullish regarding the dollar’s upward trend, analysts have now scaled off this position and are taking a more contemplative approach.

Indeed, the dollar may slide further as is possibly indicated by the relative strength index (RSI) which appears to be setting the stage for a downward trend in the weeks to come. This is especially relevant considering that the Jackson Hole Economic Symposium is on schedule for the following week.

Although the bearish stance for the dollar may continue temporarily, should chairman Bernanke not hint at another round of QE3, sentiments may begin to reverse.
Read the rest of United States outlook, impact on USD/EUR »

COO of Morgan Stanley’s Forex Division Resigns

Published August 19th, 2012 by Onlineforex.net

Morgan Stanley logoMorgan Stanley’s Martine Bond has left her position as Chief Operating Officer of Foreign Exchange and Emerging Markets in favour of a new, as yet unnamed, role within State Street Corporation.

It’s understood that she has been placed on ‘gardening leave’ from her position at Morgan Stanley with immediate effect. Ms Bond made the transition from JP Morgan to Morgan Stanley in 2009, originally working as Global Head of FX Prime Brokerage before being promoted to the COO role managing Forex in March of 2011.
Read the rest of COO of Morgan Stanley’s Forex Division Resigns »

Effect of London 2012 Olympics on Currency Prices

Published August 13th, 2012 by Onlineforex.net

2012 London OlympicsHosting the 2012 Olympic Games cost the British government an estimated £9.3 billion. While this may seem like an exorbitant amount, history has shown that hosting the Olympics can not only be a matter of prestige for a city, but also stimulate local economies and boost tourism, thus providing long term economic benefits.

British Olympic medal’s impact on cash reserves

The 2012 London Olympics have provided much needed cash reserves to the beleaguered British economy, which announced earlier in July that GDP output fell by 0.7 percent in the second quarter of the year. The games have been very successful, thanks in part to the British team’s exceptional performance.
Read the rest of Effect of London 2012 Olympics on Currency Prices »

Euro decline vs. Dollar after London Olympic 2012

Published August 7th, 2012 by Onlineforex.net

Euros clampedDominating Forex trading news is the Euro’s continued decline versus the dollar. The new low of 1.229 has hit many traders and this trend is predicted to continue for some time. The faltering of the Euro is seen to have been partially caused by fresh Greek unemployment figures, this data now showing that the number of jobless youths in Greece has hit a record high.
Read the rest of Euro decline vs. Dollar after London Olympic 2012 »

OnlineForex.net Android app

Published July 30th, 2012 by Onlineforex.net

Android OnlineForex.net appWe are happy to present the first, basic but useful, initial version of our currency trading Android app for OnlineForex.net, where you can follow our most recent news posts, the daily currency rate fluctuations for the major currency pairs, use our forex glossary, read some of our articles, e.g. “Learn to trade Forex online”, see all of our online forex videos when you are on the go and much more.

Get the Android forex app on Google PlayAll of this is specifically brought to you in mobile format and you can now download our app directly from Google Play.

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- Android app file size: 163k
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Screenshots from the OnlineForex.net app

Android Onlineforex.net appAndroid app broker reviews from OnlineForex.netVideos about currency trading onlineBeginners guide in forex app

UK to Keep its AAA Rating

Published July 29th, 2012 by Onlineforex.net

Standard and Poor’s Confirms that UK will keep its AAA Rating in a Move which Leaves Forex Traders Divided

United Kingdom flagThere has been much talk of a double dip recession following the disappointing UK growth figures released earlier this week and concerns had been growing that the UK would imminently lose its AAA rating as it became only the second industrialised nation to fall back into recession.
Read the rest of UK to Keep its AAA Rating »

Volatility on the European market continues – IMF rescue package for Spain

Published July 24th, 2012 by Onlineforex.net

The week ahead looks to highlight concerns underpinning the European sovereign debt situation. The main story still is that of volatility on the European market; the single currency’s future viability questioned by many traders worldwide.

Spain is becoming more and more of a concern

Spain flagThe concerns with Spain’s ability to manage a flailing economy have grown since the IMF rescue package was approved. Spanish yields have tipped well over seven percent, trading at 7.39% after hitting a European-era high of 7.56%. Attempting to mitigate further volatility, Spain has banned short selling for three months while Italy, feeling the effects as well has banned short selling financials for one week. There are now fears that Spain may indeed seek a full bailout, as regional governments have begun to express concern for their ability to manage internal debts. Spanish and Italian bank shares were the worst hit followed closely by their domestic indices; the Ibex at one point dropping nearly five percent.

Greece’s debt reduction

Greek debt reductionFurthermore, creditors are expected to begin auditing Greece’s progress on debt reduction. This audit determines whether the country is to be approved for an additional 31.5 billion euros. With political and social unease, a quickly shrinking economy and many investors questioning whether Greece will meet its August deadline, there has been speculation of true insolvency should their financial situation worsen.

EUR/USD at two-year low

USD Dollar USAGreek Euro SpainBecause of these protracted jitters, the euro has fallen to a two-year low against the US dollar to trade at $1.2082. Furthermore, it has fallen to an eleven-year low to the Japanese yen. Below $1.20, many online Forex traders have taken a bearish stance.

Euros long term survival

Europe EUR currencyOn the other hand, some Forex traders have taken the attitude that any position would have to be long due to such market volatility. This, of course, is under the assumption that the euro will remain in its current form. Indeed, the lack of real movement in the precious metals markets, traditional safe havens, illustrates that many believe the markets may incur still more losses in the near term. Nonetheless, taking a long position in the euro may indeed be one of the few hedges against what remains as the most volatile era for decades.

Spanish recession and EUR/USD signals

Published July 15th, 2012 by Onlineforex.net

Spain flagIn recent Forex trading news, it is clear that all eyes continue to be on the economies of both Spain and Italy. Although the ECB’s intervention into the Spanish sovereign debt crisis initially raised investor sentiment, a subsequent backslide occurred, causing Spanish bond rates to hover near the dangerously high level of 7 percent. If we combine this factor with Spain’s request to be given more time to reach its deficit targets in exchange for further domestic austerity measures, Read the rest of Spanish recession and EUR/USD signals »

JPY and USD Strengthen on the Back of Disappointing Chinese Trade Data

Published July 11th, 2012 by Onlineforex.net

Japan YenDisappointing Chinese trade data saw Asian stocks declining and the US Dollar and Japanese Yen gain ground as traders turned to these safe haven currencies. The Chinese report showed that imports grew by only 6.3 percent in June, compared to May’s figures of 12.7 percent and the 11 percent analysts had forecasted. This is disappointing and places a question mark on Asian growth as many of the economies in the area rely on China as their main source of demand.

Thus, overnight Forex tsraders saw the USD gain ground while the AUD (Australian Dollar) and NZD (New Zealand dollar) slipped. Clearly, many online traders opted to mitigate risk and buy up the greenback and Yen. Read the rest of JPY and USD Strengthen on the Back of Disappointing Chinese Trade Data »

Eurozone PMI, GDP growth and solvency of the Eurozone

Published July 3rd, 2012 by Onlineforex.net

GDP growth overviewRecent Forex trading news highlights the continued fragile state of both the European and United States economies. Nonetheless, the US dollar varied in narrow ranges as liquidity tightens ahead of the July 4th bank holiday in America.

Eurozone PMI

Across the Atlantic in Europe, many online traders are eager to hear what the ECB and the Bank of England will state in their monthly policy announcements. Most traders foresee additional easing on Read the rest of Eurozone PMI, GDP growth and solvency of the Eurozone »

The OnlineForex.net logo and other forex videos

Published July 2nd, 2012 by Onlineforex.net

Sometimes we traders also need to take some time off from trading. Why not take the opportunity to relax by looking at some of the OnlineForex.net promotional videos below. For you that know us, you will recognise the OnlineForex.net song featured in the popcorn video. Hope you like the videos! Read the rest of The OnlineForex.net logo and other forex videos »

German Unemployment Report May Weaken Euro and Confirm Bleak Outlook for the Eurozone

Published June 27th, 2012 by Onlineforex.net

Germany flagThe German Unemployment Report is expected to support the bleak outlook for the Eurozone as unemployment in the area’s largest economy is forecasted to increase in June. Undoubtedly, the forecast for the Eurozone is not a rosy one, especially considering Greece is expecting a 9% contraction of their Read the rest of German Unemployment Report May Weaken Euro and Confirm Bleak Outlook for the Eurozone »

Euro/Dollar year-to-date lows – Spanish bonds all-time highs

Published June 25th, 2012 by Onlineforex.net

Europe, EuroUSA, DollarThis past week has seen a number of financially important events; from Greek election results to Spanish bonds surpassing all-time highs. Any signals of enthusiasm regarding Greece’s elections quickly faded and the overall value of the Euro has continued on a downward trend. The forex bears still seem firmly in place in both European and international market trading.

While the immediate threat of an imminent Greek default being averted initially caused a slight rally in European markets, a broader analysis revealed investors’ sentiment still remains shaky; Read the rest of Euro/Dollar year-to-date lows – Spanish bonds all-time highs »

Pro-Bailout Greek Party Wins Elections Yet Euro Still Likely to Fall Against US Dollar

Published June 18th, 2012 by Onlineforex.net

Greek parliamentary electionsGreece’s recent general elections had much of the world holding their breaths as the fear that an anti-Eurozone party would come out victorious. The doomsday scenario many feared was that Greece would revert to the drachma and cancel its bailouts, leading to massive losses for the Eurozone as well as the potential for an even greater disaster, with Spain and Italy teetering on the edge. Fearing excessive volatility on the markets some online Forex trading brokers even shut down private trading on Sunday, the 17th of June.

While the “end of the Eurozone” scenario did not come to pass as the pro-Eurozone Read the rest of Pro-Bailout Greek Party Wins Elections Yet Euro Still Likely to Fall Against US Dollar »

Greek elections

Published June 17th, 2012 by Onlineforex.net

Greece flagRegardless of the outcome of today’s Greek elections, get ready for a hectic week in the marketplace!

With Greece holding elections today, we thought this may be a good time to let you know how this event may impact the marketplace when it reopens at 21:00 GMT tonight. Following the failure of Greek politicians to form a new government after the first round of elections in May, nervous investors sent riskier currencies and commodities plummeting. Now with new elections being held, the prospect for fresh market volatility is virtually guaranteed.

Read the rest of Greek elections »

Young trader spent $320,000 at British Club

Published March 13th, 2012 by Onlineforex.net

Armand De Brignac from Champagne CattierThe young businessman, probably somewhere in his 20′s, recently visited the Playground Club in Liverpool where he spent close to 320,000 dollars (203948,80 GBP) on liquor. He ordered a 30-liter (6,6 gallons) bottle of the world’s most expensive champagne, a double Read the rest of Young trader spent $320,000 at British Club »