Search

Client support: Phone: (+357) 22314160

FX & CFD trading involves significant risk

News

Show news:


05.12.2012 08:02

Forex: Tuesday’s review

 

 


Yesterday the euro approached to a seven-week high against the dollar after Greece announced a better-than-expected conditions for repayment of debt, thus fueling optimism that Athens will continue to receive international assistance to avoid a possible default. Recall that Greece said it will spend 10 billion euros to buy back the bonds at a price that exceeded market expectations. Note that this news has helped to significantly reduce yields of Italian and Spanish bonds below.

The U.S. dollar weakened to a six-week low against a basket of currencies, as the uncertainty associated with the achievement of an agreement on the prevention of spending cuts and tax increases, remains.

Analysts say that the euro will hold the position until the end of the year, but they also warned that the currency could come under selling pressure in 2013 due to the deterioration in the economy in the eurozone.

The British pound fell against the dollar, as the published data from Markit Economics showed that the PMI in the UK construction sector has fallen, dropping while below 50 to 49.3, up from 50.9 in October. Note that analysts expected drop to 50.5.

The dollar index, which tracks the dollar against a basket of six currencies, fell 0.2% to 79.729, approaching with up to a six-week low at 79.612.

Note that the concern about preventing a "financial cliff" in the U.S. caused by the fall in the dollar, even though the currency acts as a safe haven in times of uncertainty. According to analysts, the dollar will remain weak due to the relatively positive developments in the euro area.

The Canadian dollar rose sharply against the U.S. dollar, which was caused by the decision of the Bank of Canada to leave interest rate unchanged.

Australian dollar at the beginning of session slightly declined as the Reserve Bank of Australia said about lowering the rate by 0.25% to reach 3.0. But in spite of this decision, which was expected for many, the exchange rate began to rise sharply. It is learned that this trend was due to the fact that some analysts predicted that the rate would be reduced by 0.5%.


Market Focus

  • Donald J. Trump was inaugurated as the 45th president of the United States
  • Canada: Retail Sales, m/m, November 0.2% (forecast 0.5%)
  • U.S.: Nonfarm Payrolls, January 227 (forecast 175)
  • Eurozone: Consumer Confidence, January -4.9
March 2017
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002

Quotes

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
Online
consultant
Request a callback
Top Page