Forex News from InstaForex

[IFX Darika]

The dollar continued to wobble versus other major currencies on Friday, nearing its lowest in a decade versus the Swiss franc while hovering near a recent 5-month low against the euro.

Another batch of economic news from the housing front may provide clues about the ailing sector. Durable goods data is also on tap this morning, and may shed some light on manufacturing activity.

Lingering economic weakness has fueled speculation that the Federal Reserve is preparing a second round quantitative easing measures. The central bank has few arrows left in its quiver, having long ago lowered interest rates to a record low near zero.

The dollar continued its dramatic slump versus the safe haven Swiss franc, dropping to a 2-year low of .9795. A move below 0.9645 would take buck to its lowest in more than a decade.

Dollar weakness has contributed to the rise of gold, which breached the $1300 an ounce mark for the first time today.

The dollar dropped to a 10-day low of Y84.19 against the yen, edging closer to this month's 15-year low of Y82.86.

Against the euro, the dollar held near $1.3439 -- its lowest level since May. After starting September near 1.2600, the buck has steadily lost ground, returning to levels not seen since the start of the European sovereign debt crisis.

Concerns about public debt in Europe have been soothed by austerity measures and the a series of successful bond offerings.

German business sentiment improved unexpectedly in September to the highest level since June 2007, despite concerns of a double-dip in the largest eurozone economy.

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[IFX Svetlana]

The euro area unemployment rate continued to stay at a 12-year high in August as the region's economy started to cool, reflecting slowing trends in global economy. Official figures suggest large disparities in unemployment figures among core and peripheral economies of the single currency bloc.

The euro area unemployment rate came in at 10.1% in August, unchanged from July, data published by Eurostat, the statistical office of the European Union showed Friday. The rate for July was revised up from 10%. The jobless rate was 10.1% since May.

"Eurozone unemployment appears to have reached a plateau at a high level," said ING Bank economist Martin van Vliet.

Around 15.87 million people were unemployed in August. From the previous month, the number of persons unemployed decreased by 20,000 compared to an increase of 9,000 in July. From August 2009, unemployment rose by 0.569 million.

Compared with a year ago, the unemployment rate fell in seven member states, remained stable in one and increased in nineteen. The largest decreases were observed in Malta and Austria, while Estonia and Lithuania showed largest increases.

As the labor market situation improved in some major economies and deteriorated in some peripheral economies, the ING Bank economist said the devil is very much in the detail. When the Spanish and Ireland unemployment rose to 20.5% and 13.9% respectively, the rate fell to 8.2% in Italy.

Data released by Germany's Federal Labor Agency said the number of unemployed decreased sharply by 40,000 in September, taking the level to 3.15 million. The jobless rate fell to 7.5% in September, the lowest since 1992.

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[IFX Darika]

U.S. researchers Peter Diamond and Dale Mortensen, and British-Cypriot Christopher Pissarides have won this year's Nobel Prize for Economic Sciences for their work on how unemployment, job vacancies and wages are affected by government rules and policies.

Announcing the Award in Stockholm on Monday, the Royal Swedish Academy of Sciences said the trio developed a theory that answer the questions why are so many people unemployed at the same time that there are a large number of job openings, and how can economic policy affect unemployment.

On many markets, buyers and sellers do not always make contact with one another immediately. This concerns employers who are looking for employees and workers who are trying to find jobs. Since the search process requires time and resources, it creates frictions in the market. On such search markets, the demands of some buyers will not be met, while some sellers cannot sell as much as they would wish. Simultaneously, there are both job vacancies and unemployment on the labor market.

Diamond analyzed the foundations of search markets, while Mortensen and Pissarides expanded the theory and applied it to the labor market.

"Their models help us understand the ways in which unemployment, job vacancies, and wages are affected by regulation and economic policy," the Committee added.

The laureates' study concludes that more generous unemployment benefits give rise to higher unemployment and longer search times.

Search theory has been applied to many other areas in addition to the labor market. This includes, in particular, the housing market. The number of homes for sale varies over time, as does the time it takes for a house to find a buyer and the parties to agree on the price. Search theory has also been used to study questions related to monetary theory, public economics, financial economics, regional economics, and family economics.

President Barack Obama nominated him as a member of the U.S. Federal Reserve, but Senate rejected it. The White House re-nominated Diamond, but his nomination is pending clearance by the Senate Banking Committee.

The prize-money, worth 10 million Swedish kronor ($1.5 million), will be equally shared by the laureates. The Award also carries a gold medal and citation.

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[IFX Svetlana]

No member state of the European Union recorded a government surplus in 2009, latest data from the statistical office Eurostat showed Friday.

The largest government deficits in percentage of GDP were recorded in Ireland and the U.K. In Ireland, the deficit was 14.4% of GDP and that in the UK at 11.4%. The lowest deficit was recorded in Luxembourg, at 0.7% in 2009.

The statistical office postponed the publication of figures for Greece to mid November as it is undertaking a process of quality assessment of statistical source data from public accounts, in cooperation with the Greek Statistical Office and the Greek Court of Auditors.

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[IFX Darika]

U.K.'s sterling continued its strong rally versus most major currencies in early New York trading on Thursday and touched a fresh 5-week high of 1.5708 against the Swiss franc, 16-day high of 0.8706 against the euro, 9-day high of 1.5932 against the US dollar around 8:15 am ET.

If the pound strengthens further, likely target levels are seen at 0.8630 against the euro, 1.60 versus the US dollar and 1.5880 against the Swiss franc.

The pound also reversed its course after hitting a 2-day low against the yen in early trading and touched as high as 129.41 before holding steady around 8:15 am ET. On the upside, the UK currency may target resistance around the 130.30 level.

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[IFX Darika]

The Swiss franc extended its previous session uptrend against the euro and the US dollar in late European trading on Friday. At 5:10 am ET, the franc climbed to a 2-week high of 1.3524 against the euro and nearly a 3-week high of 0.9550 versus the greenback, which may be compared to Thursday's closing value of 1.3618 and 0.9586, respectively.

Against its British counterpart, the franc also spiked up further and hit a 10-day high of 1.5464 by about 5:10 am ET. Currently, the Swiss currency is trading near 0.9575 against the dollar, 1.3547 versus the euro and 1.5490 versus the sterling.

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[Cimmerian]

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[IFX Alexandra]

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[IFX Svetlana]

The Greek economy contracted sharply between July and September, marking the ninth consecutive quarter of negative growth, figures showed on Friday.

The Hellenic Statistical Authority said GDP fell 1.1% compared to three months earlier. That was slower than the 1.5% fall forecast by analysts after the 1.7% drop in the June quarter.

The statistical office said investment and household consumption had the biggest negative influence on growth.

On a year-over-year basis, the Greek economy shrank 4.5%, compared to the 4% fall in the June quarter. Economists had predicted a 4.3% drop.

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[thefxguru]

I hope to win this contest with my visions

[IFX Darika]

Eurozone economic confidence rose to 105.3 in November from 103.8 in October, a survey from European Commission showed Monday. The expected reading was 104.9.

Sentiment in services rose markedly by 2.1 to 10.2 in November, which was the main contributor to the overall improvement. At the same time, confidence in industry improved to 0.9 points.

Further, confidence among consumers gained momentum in November. The reading was minus 9.4. Meanwhile, retailers' sentiment fell to minus 1.5 from minus 1.1.

Separately, the commission said business confidence rose to 0.96 from 0.91 in October. The level of the indicator now stays at its highest since December 2007, suggesting that the recovery in industry will continue in the months ahead.

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[IFX Darika]

The dollar was mixed against other majors on Wednesday, as markets considered the Obama administration's deal to extend Bush-era tax breaks in return for another year of unemployment benefits.

While low taxes and more government spending may provide a lift to the floundering economic recovery, many are warning that the nation faces the wrath of bond markets unless it grapples with runaway deficits.

Europe has been forced to deal with its debt problems this year, as the specter of defaults in Ireland, Greece, Spain, and Portugal threatened the viability of the euro.

The dollar was steady near $1.32 versus the euro this morning. After hitting a 10-month low near $1.4300 in October, the buck improved to $1.2960 as Europe prepared a rescue of Irish debt late in November.

German exports recorded a surprise fall in October, suggesting the rising euro and waning global demand are starting to hurt firms in Europe's largest economy. Belying expectations for no change, exports dropped 1.1% month-on-month.

The dollar dropped against the sterling, hitting $1.5795.

British manufacturers expect production to rise solidly in the next three months on the back of strengthening demand at home and abroad, results of the latest monthly industrial trends survey conducted by the Confederation of British Industry showed Wednesday.

Meanwhile, the dollar rose to Y84.10 against the yen, staying away from a recent 15-year low of Y80.22.

U.S. mortgage applications declined slightly last week, following a huge drop the week before, according to a closely watched housing survey, according to the Mortgage Bankers Association's latest survey.

For the week ending December 3, the Market Composite Index, a measure of mortgage loan application volume, decreased 0.9 percent on a seasonally adjusted basis from one week earlier.

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[BloodySun]

Instantforex has forex news too? So you have inside knowledge on what currencies could be doing? can you send out signals or something i am desperate

[IFX Ekaterina]

Instantforex has forex news too? So you have inside knowledge on what currencies could be doing? can you send out signals or something i am desperate

Yes, we have Forex news feed, but we do not provide trading signals service.

[IFX Svetlana]

The euro raced ahead against the dollar Tuesday morning, as Italian Prime Minister Silvio Berlusconi narrowly avoided a vote of no-confidence and German economic sentiment continued to rise.

The Mannheim-based Centre for European Economic Research or ZEW said its economic sentiment indicator for Germany climbed to 4.3 points from November's 1.8 points.

However, the euro fell from its early highs after a flurry of US economic data signaled the nation's recovery may be on a sustainable path.

Traders also re-assessed Berlusconi's slim victory as the sun came up in New York. The 11th hour win for the Italian PM may ensure political stability for a few months, but his ruling coalition has been severely damaged by the close vote.

The euro rose to a 3-week high of $1.3497 against the dollar, but dropped a penny from there amid the release of US data.

Retail sales in the U.S. increased by more than anticipated in the month of November, according to a report released by the Commerce Department on Tuesday, with the data likely to add to recent optimism about the holiday shopping season.

And the Labor Department released a report on Tuesday showing that total producer prices for November increased by more than economists had been expecting.

Boosted by energy costs, producer prices increased by 0.8 percent in November after rising by 0.4 percent in each of the two previous months.

The euro kept its gains versus the sterling after rising to a 2-week high of 0.85.

The single currency also remained firm against the yen, edging just above Y112 to its highest level in about three weeks.

Looking ahead, the Federal Reserve will announce its latest decision on interest rates at 2:15 pm ET. No change in rates is expected, but commentary on the nation's economy will be closely watched.

News are provided by InstaForex.

[IFX Darika]

During early European deals on Thursday, the euro showed mixed trading against other major currencies.

The euro climbed to more than a 3-week low of 108.55 against the yen in Thursday's early European deals at 4:30 am ET. The euro is now worth 108.65 against the yen, compared to yesterday's close of 109.47. On the downside, 108.4 is seen as the next target level for the euro.

The euro that rose to a 6-day high of 0.8528 against the pound in early European session on Thursday at 3:20 am ET eased thereafter. Currently, the pair is trading near yesterday's close of 0.8516.

After reaching a high of 1.3153 against the dollar at 2:20 am ET Thursday, the euro fell. The euro-dollar pair is now trading near yesterday's close of 1.3109.

The euro soared to 1.2518 against the Swiss franc at 2:40 am ET Thursday. Thereafter, the euro-franc pair fell, but rebounded after touching a low of 1.2459 at 3:20 am ET. The pair is presently worth 1.2510, up from yesterday's close of 1.2472.

Traders are now likely to focus on the New York session, in which the U.S. personal income and spending, durable goods orders, new home sales - all for November, University of Michigan's final report on consumer confidence for December and the weekly jobless claims for the week ended December 18 are slated for release.

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[screw]

Im in a eurusd short now but not because of this news, simply because I think there's pressure coming onto it from China raising interest rates for obvious reasons to devalue the dollar.

[igotskillz]

EURUSD might bounce back up so bec cautious where you put your stops.

[IFX Darika]

In European deals on Friday, the U.S. dollar recouped some of its early losses against the currencies of Europe, Japan and Switzerland. The dollar thus recovered from a 1-month low against the euro, 1-week low against the franc and a 9-day low against the yen.

As of now, the dollar is worth 82.85 against the yen, 1.3360 against the euro and 0.9651 against the franc.

In a surprise move, the People's Bank of China today raised banks' reserve requirement ratio by 50 basis points.

It was the seventh such rate hike since 2010. The last hike was on December 10. The central bank said new rates will be effective from January 20.

News are provided by InstaForex.

[IFX Svetlana]

The euro held its recent gains against other major currencies on Thursday amid mounting evidence that the monetary union will survive a prolonged sovereign debt crisis.

It appears for now that Spain and Portugal will not join Greece and Ireland in accepting debt relief from neighbors and the International Monetary Fund.

The Iberians conducted successful bond auctions earlier this week, allowing central bankers to turn attention to fighting inflation in the euro zone.

The European Central Bank acknowledged inflationary pressures in Tuesday's interest rate setting announcement.
While US policy makers are expected to maintain accommodative monetary policy in 2011, the inflation fighters at the ECB will likely tighten if prices continue to rise above their 2 percent target.

In economic news from the region, Germany's Federal Ministry of Economics and Technology raised its 2011 growth forecast. The ministry now sees 2.3% expansion for Germany this year, faster than the 1.8% growth it had predicted in October.

Extending this week's strong gains, the euro rose to $1.3537 against the dollar -- its highest level since late November.

From the US, a Commerce Department report showed a steeper than expected drop in housing starts in the month of December, However, the report also showed a much bigger than expected increase in building permits.

The euro touched a monthly peak of Y115.15 versus the yen on Tuesday, and was little changed from that mark today.

The single currency also continued its comeback bid against the Swiss franc, reaching a 5-week high of CHF 1.2996. The euro touched a record low of CHF 1.24 earlier in January.

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