Archive for the ‘trading’ Category

Sterling steadied on Monday (September 12) after its first week of losses in four, with traders debating whether the currency had topped out for the moment as they awaited a speech by U.S. Federal Reserve board member Lael Brainard.

The pound dipped last week against the dollar and euro but has broadly done well in the past month as a handful of economic indicators suggested the UK economy was holding up better than expected after June’s vote to leave the European Union.

It was up roughly 0.3 percent at $1.3304 and 84.37 pence per euro by 3.30pm on Monday (September 12).

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South Africa’s biggest private fixed-income money manager will stop lending money to six of the country’s largest state companies because it is concerned about how they are being run, government infighting and threats to the independence of the finance ministry.

Futuregrowth Asset Management, which has about 170 billion rand ($11.7 billion) in assets, shelved plans to lend more than 1.8 billion rand to three state companies on Tuesday (August 30), Chief Investment Officer Andrew Canter said from Cape Town on Wednesday (August 31), without giving more detail.

The fund manager will only resume offering loans and rolling over existing debt once it has determined that what it sees as proper oversight and governance at the companies have been restored.

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The pound tumbled to a new 31-year low on Wednesday (July 6), at one point dipping below $1.28, on fears over the effect of last month’s Brexit vote on Britain’s property market and the prospect of cuts in Bank of England interest rates.

The pound, one of the main vehicles through which financial markets can express concern about Britain’s decision to leave the European Union, fell as low as $1.2798 in Asian trading, its lowest since June 1985. It recovered to about $1.2891 in afternoon trading in London.

That still left it more than 13 per cent weaker than it was before the June 23 referendum, and about 1 per cent lower on the day.

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Prime Minister David Cameron has said Thursday’s (June 23) referendum on Britain’s membership of the European Union was likely to be very close but he also predicted a “remain dividend” in investments if Britons voted to stay in the 28-nation bloc.

With just two days to go until the referendum that will shape the future of Europe, opinion polls have indicated that British public opinion is so divided that the outcome is too close to call.

Meanwhile, Swiss investment bank UBS warned its clients on Tuesday (June 21) it may fail to execute some orders on its electronic trading platform should this week’s Brexit referendum affect liquidity or cause extreme volatility.

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With sterling trades seen too expensive, the yen and Swiss franc are in demand according to in-depth research by news agency Bloomberg.

The UK’s referendum on European Union membership is spurring volatility in the pound, making trading sterling increasingly expensive. Banks are pointing clients toward alternative currency bets or hedges that could fare well regardless of the outcome.

Here is a list of analysts’ favourite trades as written in research notes or recommended in interviews conducted by Bloomberg News in recent days.

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Australia’s dollar rose to a one-month high and bond yields rebounded from the lowest ever as the central bank refrained from cutting interest rates.

The Reserve Bank of Australia left the benchmark rate at a record-low 1.75 percent, as forecast by all but one economist surveyed by news agency Bloomberg. Most expect the central bank to resume easing in August after a quarter-point reduction in May in response to a record-low core inflation reading.

“Last night’s RBA policy statement was judged as lacking an explicit easing bias,” said Jane Foley, a senior currency strategist at Rabobank International in London. “While this assessment has lent the Australian dollar significant support this morning, there are sufficient negative nuances contained within the RBA’s policy outlook to infer that the prospect of an August rate cut remain very strong.”

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The dollar climbed to a two-month high against the euro as traders boosted wagers that U.S. interest rates will rise, starting as early as next month.

The greenback strengthened versus most of its major peers after Federal Reserve Bank of Philadelphia President Patrick Harker said on Monday, May 23 that he could see two to three rate increases this year, echoing remarks by the San Francisco Fed Bank’s John Williams.

Futures are indicating for the first time since March a better-than 50 percent chance that the Federal Open Market Committee will raise rates by its July meeting.

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Less than two months after Goldman Sachs Group Inc. softened its short-term euro forecast after a central-bank policy meeting, the bank is doing the same with the yen.

Japan’s currency is likely to strengthen until Bank of Japan Governor Haruhiko Kuroda rolls out or signals additional stimulus measures, analysts led by Robin Brooks, the bank’s chief currency strategist, wrote in a note to clients on Monday.

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The latest round of online forex trading news highlights the continued fact that traders are adopting a “watch and wait” approach in terms of any significant movements. Part of the reason for this strategy is that there is relatively little data expected to be released over the next few days.

If anything, the details which have emerged are far from promising. Once again, economic figures released from China have echoed weakness while the recent sell-off in oil (regardless of short-term technical gains) highlights that markets are still in a sluggish position.
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The forex market is the biggest global trading market and is increasingly opening up to Bitcoin investors. More and more forex brokers are accepting bitcoin trades and this has grown considerably throughout 2015.

Bitcoin traders are renowned for their high risk attitudes and acceptance of greater risk for potentially larger profits. In general the market for Bitcoin trades has been extremely volatile, while the forex market is relatively stable.
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The Greece crisis reached new corners of the globe recently with its latest haphazardly turn away from progress. Today Monday June 29th, markets suffered across Asia to Europe in the wake of Greece shutting down its banks for a week, ahead of a debt default that now seems more probable than ever.

Oil prices saw a sharp drop and the Euro declined against the dollar, while Japan’s Nikkei 225 index fell 2% to 20,283.98 points.
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The World’s financial markets have been shocked by the news that the world’s second biggest bank HSBC is reviewing its headquarters in London and is considering moving elsewhere, probably to its natural base in Hong Kong.

HSBC have had their headquarters in London since 1992, after they purchased Midland Bank, one of the UK’s ‘big four’ banks.
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There is still much uncertainty in global markets, with jitters in Europe having an effect on the US dollar.

A recent 5.8 per cent drop in German exports coupled with a downward revision of growth forecasts for the country has had a negative knock-on effect on the dollar, owing to the potential for a weak US export market.

Although the dollar has largely retraced earlier losses, investors are still dovish, with the federal reserve bank keeping interest rates low. The recent meeting of the fed also raised concerns about how a strong dollar may further affect US exports.
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As you all know by know, we normally cover currency trading and forex news specifically here at OnlineForex.net. However, the IPO by one of the largest Internet companies in the world can not be missed. By the end of the day on Friday, Alibaba Group Holding Ltd had completed its first day of trading stock shares on the New York Stock Exchange.

The company has been in the spotlight over the past week as its executive chairman and founder, Jack Ma, announced his intentions to expand his business beyond the confines of China and bring Alibaba to the attention of a wider audience in Europe and the US.

Jack Ma founded the company in the late 1990’s and it is believed that after a hectic day of trading on Friday, it now has a market value of $231 billion.
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The two days gains shown by the Pound have been halted, as figures show that mortgage approval rates dipped to their lowest rate in nine months during April.

The approval rate dropped as a result of the tightening of lending rules used by the banks.

Banks have been tightening the rules that they apply to mortgage lenders for several months.

In April, new rules demand that borrowers show they will be able to afford repayments even if the interest rate rises.

While the decline in mortgages has hit the Pound’s ascent, it may have helped to quell fears surrounding the property market.

Officials were set to meet to discuss what actions, if any, needed to be taken to prevent the property growth from becoming more of a problem.
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All eyes are on the continuing developments in the Balkan region of the world.

As was expected, the so-called referendum in Crimea is said to have reported that ninety-seven per cent of ethnic Russians wish to secede from Ukraine and join the Russian Federation.

This has caused a massive ripple effect in the currency markets as of late. With both the European Union and the United States threatening very real sanctions, currency traders are already closely watching the value of the ruble in relation to its other major currency counterparts.
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The Confederation of British Industry’s most recent quarterly survey, covering the three months to the start of September, puts British business confidence at its highest for nearly seventeen years.

The consequences for forex trading are likely to be an increase in confidence in the pound and a strengthening of its value against the US dollar, which has already been weakened by the US government shutdown.
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Foreign exchange currencies change in just a few seconds. This trading option is more volatile than ever as more transactions are currently in process. There are yet economic changes this week as analysts see the potential of short term charts. This would provide further opportunities for big levels to watch out for.

The EUR/USD has low volatility with a low level of 1.3000 so no other expectations are to be seen until this week. The best currency for long-term outlook is the EUR/USD since it still ranges from 1.2800 to 1.3200. Added to that, the RSI and the short term average are on neutral as technically seen in the chart.
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Morgan 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.
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Ex-Barx David Cooney launches new proprietary-built retail forex trading platform MahiFX with focus on tight spreads.

The official launch date is February 20th 2012 but on February 2nd MahiFX had the initial release party to a selected number of Forex specialists. We at OnlineForex.net were some of the selected few participating in the London financial district, in top of the world famous Gherkin building.

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