EUR USD
EUR/USD Retreating Again
June 30, 2010 · Leave a Comment
Having reached an intraday high around 1.2297 in the past hour, EUR/USD is again retreating from the 1.2300 area, despite market is on risk aversion mood. Strength of the common currency comes from crosses such as EUR/CHF and EUR/GBP short covering, after past journeys’ slump, pulled them to multi years or even historical lows. Some profit taking of sellers amid strong gains reached yesterday are supporting the case. However, euro is still unable to overcome static resistance against greenback, the above mentioned 1.2300 zone. Read more about the Euro… Read More →
USD JPY
USD/JPY Tests Daily Lows
June 30, 2010 · Leave a Comment
USD/JPY moved away from 88.70 and fell to test daily lows around 88.35 after Moody’s put on review Spain’s Aaa rating. The pair is still moving in a narrow range between 88.70 and 88.35 but weakened after the Yen gained momentum across the board following the announcement and a decline in US stocks. Read more about the Dollar and the Yen… Read More →
GBP USD
GBP/USD Hits Fresh 3-Day Low
June 30, 2010 · Leave a Comment
The pound fell to a fresh 3-day low against the U.S. dollar on Wednesday, after official data showed that U.S. private sector employment fell more than expected in June. GBP/USD hit 1.4965 during European afternoon trade, the pair’s lowest since June 25; the pair subsequently consolidated at 1.4970, shedding 0.62%. Read more about GBP and USD… Read More →
Geopolitical Risk
North Korea Warns Accident Could Start War
June 30, 2010 · Leave a Comment
North Korea warned Tuesday that any accidental clash during an upcoming US-South Korea naval exercise could spark war, as tensions remained high over the sinking of a South Korean warship. Minju Josun, the cabinet’s official daily, accused the South and its US ally of “fabricating” facts about the sinking to incite a war against the communist state. Read more about North Korea… Read More →
Market Manipulation
US Lobby Group Formed For High-Frequency Traders
June 30, 2010 · Leave a Comment
The Futures Industry Association on Wednesday said it formed a new lobby group to represent high-frequency trading firms that have come under heightened scrutiny for trading practices that may have contributed to Wall Street’s May 6 “flash crash.” The lobby, the Principal Traders Group (PTG), represents a who’s who of high-frequency traders, including Getco LLC and Allston Trading. It is chaired by Donald Wilson, who heads top Chicago futures trading firms DRW Trading. Most of the 24 member firms are based in Chicago. The group’s formation is in response to “the... [Read the full story]
Central Banks
Is Bernanke Hiding A Smoking Gun?
July 1, 2010 · Leave a Comment
A Republican senator said Tuesday that documents showing Federal Reserve Board Chairman Ben Bernanke covered up the fact that his staff recommended he not bailout AIG are being kept from the public. And a House Republican charged that a whistleblower had alerted Congress to specific documents provide “troubling details” of Bernanke’s role in the AIG bailout. Sen. Jim Bunning (R-Ky.), a Bernanke critic, said on CNBC that he has seen documents showing that Bernanke overruled such a recommendation. If that’s the case, it raises questions about whether bailing out AIG was actually... [Read the full story]
Market Manipulation
US Lobby Group Formed For High-Frequency Traders
The Futures Industry Association on Wednesday said it formed a new lobby group to represent high-frequency trading firms that have come under heightened scrutiny for trading practices that may have contributed to Wall Street’s May 6 “flash crash.” The lobby, the Principal Traders Group (PTG), represents a who’s who of high-frequency... Read more...
Liquidnet Promoting Dark Pool in New Zealand
A US firm which specialises in “dark pools” trading is hoping to increase the number of international fund managers trading in New Zealand listed securities by bringing its electronic trading service here. The type of trading is called “dark pools” because it allows investors to trade anonymously with prices only made public... Read more...
Russian Intelligence Found Gold Market Info Valuable
Russian spies in the United States whose arrest was announced Monday last year conveyed information about the gold market that the Russian security service considered “very valuable” and forwarded to the Russian finance ministry and ministry of economic development, according to the criminal complaint filed by the FBI with U.S. District... Read more...
Panel Examines Role of Derivatives in Crisis
The complex instruments at the heart of the financial meltdown, and the way two giant companies were wrapped around them and entwined with each other, are being examined by the special panel investigating the origins of the economic crisis. The Financial Crisis Inquiry Commission is turning its focus to derivatives at two days of hearings starting Wednesday.... Read more...
Circuit Breaker Stops Trades of Citigroup
An experimental circuit breaker for stock markets that was put in place after last month’s so-called flash crash kicked in for the second time on Tuesday after an erroneous trade caused a sudden plunge in the price of Citigroup shares. Trading in the shares of Citigroup, one of the most heavily traded stocks in the United States, was paused for five... Read more...
More Posts From Market Manipulation
Geopolitical Risk
North Korea Warns Accident Could Start War
North Korea warned Tuesday that any accidental clash during an upcoming US-South Korea naval exercise could spark war, as... Read more...
The Global Political Awakening
There is a new and unique development in human history that is taking place around the world; it is unprecedented in reach... Read more...
China Denies Military Exercise Aimed at U.S.
China denied on Tuesday media reports that an artillery drill in the East China Sea was in response to a planned military... Read more...
More Posts From Geopolitical Risk
Central Banks
Is Bernanke Hiding A Smoking Gun?
A Republican senator said Tuesday that documents showing Federal Reserve Board Chairman Ben Bernanke covered up the fact... Read more...
Fed Made Taxpayers Junk-Bond Buyers
Federal Reserve Chairman Ben S. Bernanke and then-New York Fed President Timothy Geithner told senators on April 3, 2008,... Read more...
Russia Buys 22 Tons Of Gold In May
Ten days ago we reported the most recent data on gold reserve holdings as presented by the World Gold Council, where we pointed... Read more...
More Posts From Central Banks
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