Forex news

Federal Reserve Chairman Ben Bernanke testified yesterday before the House Budget Committee in Washington. Chairman Bernanke confessed that the Fed’s objective of 2% inflation may not be possible if unemployment in America continues to rise. On Wednesday, the ADP Non-Farm Employment Change numbers came in far below expectations. The Fed [...]

Yesterday was one to remember on Wall Street, with Facebook filing for an initial public offering which could value the social media giant between 75 billion and 100 billion dollars. Facebook’s goal is to raise 5 billion dollars when it starts to sell shares in the spring. The company has produced over one billion dollars in profits [...]

Weak housing data and sluggish consumer confidence in the United States caused investors to dump equities and search for a safer haven with the greenback yesterday. The EUR/USD is down this morning by 0.138% and trading at 1.3066. Gold is down by 0.02% and trading at 1740.05. The Euro took a hit yesterday as investor confidence in the [...]

Tuesday morning in Asia has seen a slide in the U.S. Dollar against other major currencies, as investors appear willing to take slightly more risk in the European market. The positive light on the Euro is coming from investor belief that the European Parliament is heading on the proper course to solving the debt crisis. Greece appears to [...]

Oil continues to decline for the second day after the latest round of talks by European officials. Crude oil is down in Asian trading this morning, valued at 99.02 USD per barrel. The Word Economic Forum, currently taking place in Davos Switzerland, saw Greece and Germany butting heads on the conditions for the next bailout which must be [...]

Iran is attempting to take measures in response to the EU oil trade embargo even before the ban takes effect in July. The ban on Iranian oil was approved on Monday to the chagrin of several Middle East countries along with China and Russia. The United States has commended the EU for the ban. Iranian officials are pointing an accusing [...]

Big news out of the United States took place yesterday during the FOMC Press Conference. Fed Chairman Ben Bernanke announced that interest rates will remain at 0.25% and will probably not change until at least 2014. This announcement came after the conclusion of a two day policy meeting which saw law makers still frustrated over the slow [...]

Yesterday wasn’t the day to be overly optimistic about the global markets, if we put in faith in the belief of the IMF, which predicts that the global economy will expand by 3.3% in 2012, down 0.5% from the previous year. The IMF has also stated that the Euro Zone economy could decline by as much as 4% and experience at least a mild [...]

Despite predictions that a European embargo on Iran was several days or even weeks away, yesterday’s news that an EU embargo on Iranian oil was approved by Brussels did not catch too many people by surprise. Iran’s currency, the rial, experienced a death stroke on Monday, losing 10% of its value after the news hit the markets. The [...]

Energy is down this morning this morning in Asian markets as traders resume activities after the weekend. Crude oil is down 0.22%, trading at 98.11 USD per barrel. Many analysts predict that the price of oil is not expected to decline by any significant amount as political unrest in Nigeria, an impending trade embargo on Iran and the [...]