BetOnMarkets - Bet On Markets

Trading markets across the world have become somewhat calm and tranquil waters ahead of US Federal Reserve chief, Ben Bernanke’s congressional meeting on Capitol Hill later today. There were slight increases for the Dow Jones and the Nasdaq during this morning’s trading sessions but, as a rule, investors at many online trading and betting sites like BetOnMarkets have seen relatively flat markets throughout Wednesday morning.

As investors and speculators across the world eagerly await the news from Washington, most markets have seen little to no movement. Whether Forex markets, indices, commodities markets or stocks and shares, the markets have all been on a ‘go slow’ today.

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BetOnMarkets - Bet On Markets

The trading week has just drawn to a close and it was a great ending for anybody with US dollars bets on their books. Bettors at BetOnMarkets saw the US dollar thrive on Friday as news of strong consumer sentiment, coupled with other key factors, propelled the greenback up the charts.

The dollar was pretty much up right across the board as the US released details of its strongest consumer sentiment figures for just under six years, something that anybody who was betting on the dollar at BetOnMarkets today became well aware of. However, it wasn’t just this news that favoured the dollar during Friday’s trading sessions. With these encouraging figures being brandished about, there is now every possibility that, as a knock on effect, we will see the US Federal Reserve starting to curb its quantitative easing program, something that many investors and traders believe will happen.

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Etoro

The British pound finished the week with a flourish, making gains against other popularly traded currencies such as the euro and the US dollar. At eToro (your capital is at risk) and other leading trading sites, Forex traders saw the British pound soar, following the news that the Bank of England was to keep the base level interest rate unchanged.

There were a number of factors that contributed to the pound’s high-flying finish to the week’s trading sessions, many of which surrounded the Bank of England’s monetary policy meeting on Thursday. After the meeting, incoming Bank of England Governor, Mark Carney did sterling no harm by saying that the current position of the bank’s policy may be just what the UK economy needs.

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Etoro

We’re often telling you about the GBP/USD or the EUR/USD currency pairs being traded online at sites such as eToro (your capital is at risk) but we don’t often mention the AUD/NZD. However, with an interest rate decision to be made by the Reserve Bank of New Zealand and continued high unemployment in the country, the New Zealand dollar has been losing ground across the board during the first two days of the trading week, especially against its Australian counterpart.

For the past 8 months or so the AUD/NZD currency pair has been losing ground but many observers and market insiders believe that the Aussie dollar will have somewhat of a resurgence, as it has been experiencing over the past couple of days, even though the Reserve Bank of New Zealand is expected to keep to the current 2.5% base interest rate. This is because much of the discussion and language coming from officials at Reserve Bank of New Zealand has led many to believe that the central bank is in a more hawkish mood, backed by rising house prices and an increase in private sector credit and, even though no interest rate hike is on the cards, the Kiwi has still felt the pressure recently.

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AvaFX

This morning online Forex traders at AVAFX saw the US dollar strengthened by low unemployment figures, as the Greenback made gains against most of its major counterparts. On the day the US unemployment numbers reached a five-year low, the dollar saw bullish movement before a poor US manufacturing indicator restricted further growth for the dollar.

The GBP/USD currency pair dropped 75 pips during the London trading session, reaching a low of 1.5954 before recovering to 1.5980. The dollar also made headway against the Swiss franc, with the USD/CHF currency pair climbing by over 50 pips during the London trading session. However, later today the US Preliminary UoM Consumer Sentiment figures are released, which, if lower than expected, could well undo all of the dollar’s progress in an afternoon. Keep one eye on the economic news bulletins for those figures, as you will need to make those trades quickly if you’re to try and beat the field to the best prices.

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HY Markets

Online Forex traders at HY Markets and other internet trading sites saw the US dollar lose ground against over a dozen other currencies during Tuesday’s trading sessions. It came as no surprise to many when the US dollar slid, ahead of the Federal Reserve meeting that’s scheduled for later this afternoon.

Many market analysts believe that the Fed will continue with their easing strategy and they are expected to announce an expansion to their asset purchasing plan, which will almost certainly weaken the greenback against its international counterparts. The anticipation of such announcements from the Federal Reserve has led many Forex traders to start selling the dollar, which has had the usual knock-on effect to its value.

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AvaFX

Right now, the USA is counting the votes for the 2012 United States Presidential Election, which is being battled out by President Obama and Republican Mitt Romney but this massive event hasn’t slowed trading of the US dollar down at the world’s various Forex markets or harmed the greenback’s value. In fact, online Forex traders at AVAFX actually just saw the US dollar climbing as the votes are counted in the election, and with plenty of trading activity taking place too, as news that Romney may be ahead made it to the headlines and encouraged the buying of dollars.

At the time of writing this article, Bloomberg were scoring Romney ahead of Obama 21-3, which many analysts and traders believe will destabilise the dollar to a degree, possibly seeing it fall against many of its counterparts such as the Australian dollar, the British pound and the euro. However, if Obama retains office, it is widely speculated that the dollar will be boosted thanks to the belief that the President will continue with his support of bonds and track record of keeping interest rates low.

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Etoro

As one of the most ferocious hurricanes ever to hit New York landed, millions of US citizens have been left without power, 15,000 flights have been cancelled, at least 40 people have lost their lives, an estimated $40-50 billion is needed to clear up the destruction that Hurricane Sandy has left in its wake and, this giant storm has caused the closing of the New York Stock Exchange for two days straight – the first time since 1888! Unsurprisingly, nobody is shocked to hear that the closing of the New York Stock Exchange slowed trading both on the world’s trading floors and at leading online Forex brokers such as eToro (your capital is at risk).

It’s not just the New York Stock Exchange that has been forced to close for two days following the devastation left behind by Hurricane Sandy. The NASDAQ also closed operations and it will also be out of action until Wednesday, just like the NYSE. Traders at eToro and other leading online Forex brokers witnessed many currency pairs becoming stagnant thanks to the closing of the NASDAQ and the New York Stock Exchange.

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Etoro

The euro has seen some tough times over the past couple of years, as the economies of member states such as Greece, Spain and Italy have struggled. However, currently the euro is holding its own at Forex markets across the world, thanks to speculation that the European Central Bank (ECB) will be taking measures to ease the debt crises in Spain and Italy, where the cost of borrowing has become massively high.

During the early Monday trading sessions, Forex traders at eToro (your capital is at risk) saw the euro climb by 1 per cent against the US dollar, up to $1.2290. Last Monday the euro climbed to a one-month-high of $1.2444 against its US counterpart but the rally was short lived, as the euro tumbled for the rest of the week. However, Monday once again looks like a good day for the euro.

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AvaFX

Today, weak German figures have devalued the euro, with the single European currency falling as low as $1.2040 against the US dollar during Tuesday’s New York Trading session. France, the EU’s third biggest economy behind Great Britain, also harmed the euro’s strength as news that their factory activity fell at an alarming rate, its fastest drop since early 2009, leading to Forex traders at AVA FX and other sites selling the euro.

By the close of Tuesday’s New York trading session the euro had recovered to $1.2062, climbing from its $1.2040 trough. Many online Forex traders at AVA FX, along with traders and analysts across the globe, believe that the euro is likely to drop below the $1.20 level against the greenback. However, with the scheduled Federal Reserve meeting next week, when US fiscal policy makers discuss the idea of even more economic stimulation which could in turn harm the progress of the US dollar, even against the ailing euro, traders have aired on the side of caution for now.

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