Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk


Show news:

31.08.2012 07:42

Forex: Thursday’s review



Yesterday the euro continued its yesterday's decline against the dollar on negative sentiment in the market, as well as a sharp decline in stock markets at the opening of trading. At the same time, the Spanish Prime Minister Mariano Rajoy said that Spain will wait a formal request for financial assistance, and the International Monetary Fund said that the European Central Bank should take steps to mitigate the policy. Investors are also slow to cover short dollar positions that are open in the expectation that Bernanke will announce the beginning of the third phase of quantitative easing in Jackson Hole on Friday, as the outcome of this speech is unclear. The single currency rose slightly amid lower borrowing costs in Italy. Italy sold a ten-year treasury bills in the amount of 4.0 billion euros, 3.0-4.0 billion euro target. The ratio of applications to cover was 1.42 versus 1.29 previously.

On stronger dollar also weighed data on consumer spending, which rose in July for the first time in three months, gaining 0.4%. A separate Labor Department report showed that the number of initial claims for unemployment benefits in the U.S. has changed, from a revised upward index last week.

During the first half of the day's pound rose against most currencies after data showed that the number of approved applications for mortgage loans increased in July, thus indicating a recovery from the recession in June. Data from the Bank of England showed that the number of mortgage approvals rose to the level of 47,312 in July. But even these positive data have not helped the pound to hold their positions, and as a result the currency plummeted, updating the yesterday's low. This trend was caused by the Prime Minister of Spain, Mariano Raho.

His speech also contributed to the decline in value the Australian dollar, which lost its position against most major currencies. But the decline began after a government report that the number of approved applications for housing construction fell in July to -17.3%, reaching the minimum values ​​at the same time in the last ten years in the background of the fact that most of the investment now accounts for the mining industry, which is now at its peak. We also learned that the profitability of Australian 10-year bonds continued to decline, fixing the fall for 10 consecutive days, and is on the verge of the long fall, at least since 1990.

Canadian dollar continues to decline relative to the 16 major currencies after yesterday's data showed that the U.S. economy, which is the largest trading partner, increased by more than the initial estimate. Was supported by the fall in output today's U.S. data, which proved positive.

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