Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk


Show news:

05.09.2011 06:52

FOREX: Weekly review

The euro lost ground last week as concerns over eurozone growth and the region’s fiscal crisis weighed on the currency.
The euro suffered as surveys of manufacturing activity across the region came in weaker than expected, revealing that the slowdown in activity had spread from the periphery of the eurozone to its core, with German manufacturing growing at its slowest pace in nearly two years.
This raised speculation that the European Central Bank might abandon its hawkish stance on interest rates at its policy meeting next week and might even loosen monetary policy and cut rates in a bid to stimulate growth in the months ahead.
Adding pressure on the euro were fresh worries over the eurozone debt crisis.
There was sluggish demand at an auction of Spanish government debt and reports that international debt inspectors from the EU, International Monetary Fund and ECB had paused their review of Greece’s austerity reforms, potentially delaying a second bail-out package.
Over the week, the euro fell 1.9% against the dollar, lost 0.9% against the pound and was 1.7% lower against the yen.
The Swiss franc was the biggest beneficiary as investors sought a haven from renewed concerns over eurozone government debt and growth in the region.
The franc rose as speculation receded that the Swiss National Bank would intervene directly in the market and sell the franc.
Indeed, traders said the SNB, which before last week had been active in the forwards market to drive down interest rates and suppress demand for the franc, had pulled back from the interest rate market, giving investors a green light to buy the currency.
Over the week it rose 5% against the euro and climbed 3.1% against the dollar.
The dollar found haven support even as disappointing US jobs data stoked more concern about the health of the US economy and raised speculation of a further round of quantitative easing.
U.S. payrolls were unchanged last month, the weakest reading since September 2010, after an 85,000 gain in July that was less than initially estimated, Labor Department data showed today. The median forecast called for a rise of 65,000.
Fed Chairman Ben S. Bernanke said last week the central bank still has tools to boost a recovery that has been weaker than forecast, while sticking to his view that growth will pick up. He spoke at a conference in Jackson Hole, Wyoming. At last year’s event, he foreshadowed the Federal Open Market Committee’s second round of quantitative easing, the purchase of $600 billion of Treasuries from November through June.
Minutes of policy makers’ last meeting on Aug. 9 showed some FOMC members favored more aggressive action to stimulate the economy. The minutes were released Aug. 30.
On the week, the dollar rose 0.2% against the yen and was up 1% against the pound.

05.09.2011 07:01

STOCKS: Weekly review

05.09.2011 06:40

Techs on USD/JPY:

Market Focus

  • The eurozone started the third quarter on a solid footing, according to PMI survey data
  • Earnings Season in U.S.: Major Reports of the Week
  • German private sector output growth slowed for the second month running in July
  • ECB's Mersch says as conditions normalise, it is unlikely that uncoventional policies will remain necessary
July 2017
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002


All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.

To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

  • © 2011-2017 TeleTrade-DJ International Consulting Ltd

    TeleTrade-DJ International Consulting Ltd is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11.

    The company operates in accordance with Markets in Financial Instruments Directive (MiFID).

  • The information on this website is for informational purposes only. All the services and information provided have been obtained from sources deemed to be reliable. TeleTrade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.

  • TeleTrade cooperates with SafeCharge Limited, which is an electronic money institution authorized and regulated by the Central Bank of Cyprus and is a principal member of MasterCard Europe and Visa Europe. We also cooperate with Moneybookers and Neteller, which offer electronic e-wallet services authorized and regulated by the Financial Conduct Authority.

    Please read our full Terms of Use.

  • To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

    TeleTrade-DJ International Consulting Ltd currently does not provide its services to residents or nationals of the USA, and also doesn't provide retail Forex and CFD accounts to residents or nationals of Belgium.

Connect with Us
Share on
social networks
Request a callback
Top Page