Daily News from FX Foreign Exchange on Friday 2nd March, 2012

There has been a meeting with the euro zone finance ministers in Brussels and the Euro group president Jean-Claude Juncker has said that Greece has taken all of the legal action required to secure a second bailout from the euro zone countries which is paving the way for the first tranche to be paid out by March 20th.

The disbursements of the EFSF bonds and final approval require a successful completion of the debt restructuring and a final assessment of Greek measures from the troika. It is highly likely that the vote will come in the form of a teleconference on Friday March 9th.

With the dust starting to settle market traders are now looking towards the ISDA resolve as it has ruled that there is no credit event after the recent bonds swap.

As we write this morning the GBP/USD is under slight pressure before the European opening having traded at a narrow range of 1.5939 – 1.5964 during the Asian session and was last seen at 1.5942 late in New York.

In the UK manufacturing grew for a second month in February which has added positive signs to the economy that it could avoid recession this quarter. The Japanese stocks declines on Thursday as the JPY edged higher which has dimmed the outlook for exporters.

The EUR/USD is currently bearish and is expected to decline even further. The support area of 1.3199 has already been attained with targets lying at 1.3141 and 1.3070.

The USD/CHF is starting to challenge resistance this morning at 0.9066/88 and this has to be overcome in order for the price to inch higher.

We report on the current global currency exchange movements and offer our clients the very best currency exchange rates available. Our specialty is the ability to offer competitive time option forward currency contract rates. If this is not the most recent daily currency exchange news report, view the most recent news here Buy and sell currency at the best global currency exchange rates available today through FX-ForeignExchange,0044 (01480) 458400 or 07525 984456. This daily global currency exchange report is for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. FX-currency exchange cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

FX-Foreign Exchange Daily News 29th February, 2012

As we write this morning the EUR/USD is trading a little lower ahead of the second 3 year LTRO auction due later on today. The consensus on the market us that they expect a take up of about €400 bn – €500 bn. According to many analysts. Far less or far above that range could be considered negative for the markets, triggering a risk off event.

The GBP/USD tough resistance zone at 1.5898/1.5927 did not manage to halt the pair. Therefore GBP/USD is now aiming for 1.6000 with supports located at 1.5901 and 1.5894.

The Irish Prime Minister Enda Kenny has just announced that Ireland will hold a referendum on the EU new fiscal treaty. Irish people will be asked for their authorization in a referendum to ratify the European stability treaty and have said that referendum is required but government will push the yes vote.

Confidence in the single currency bloc has risen more than expected in February which is hopefully a sign that the economy is recovering after a contraction in the fourth quarter. In the US consumer confidence has risen to a one year high in February as consumers are becoming more optimistic on the outlook of the country’s economy.

In Japan the year on year retail sales advanced 1.9 per cent in January, after increasing 2.5 per cent in December according to the Ministry of Economy, Trade and Industry on Tuesday. Sales had been boosted by a surge in demand for cars.

As we write this morning the EUR/USD is heading towards 1.3550 with a possibility to extend current bullish correction up to 1.3628.

We report on the current global currency exchange movements and offer our clients the very best currency exchange rates available. Our specialty is the ability to offer competitive time option forward currency contract rates. If this is not the most recent daily currency exchange news report, view the most recent news here Buy and sell currency at the best global currency exchange rates available today through FX-ForeignExchange,0044 (01480) 458400 or 07525 984456. This daily global currency exchange report is for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. FX-currency exchange cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

FX-Foreign Exchange Daily News Friday 24th February, 2012

Yesterday saw the Greek government approving a law which allows the execution of the debt swap for private creditors. The debt swap constitutes a crucial part of the Euro zone bailout package approved by the Euro group on Tuesday, this is meant to reduce Greek debt by a 100 billion euros. Supposedly, the country’s liabilities are supposed to decrease from 160% GDP to 120% by 2012.

This morning we see that the bloc currency EUR/USD is trading lower on Friday ahead of the GDP figures in Germany which are due a little later. They hit a fresh two month high at 1.3379 earlier in the Asian session but the cross is now leading back to the 1.3360 region which means they are now trading in a narrow range of almost 20 pips.

The BBA mortgage approvals which were released on Thursday raised more than expected and the CBI industrial order expectations recovered today more than analysts forecast.

There was more evidence that the labor market is improving as the number of Americans filing first time claims for unemployment insurance payments held at a four year low. Applications for jobless benefits were unchanged in the week ending Feb 18th at 351,000 which is the smallest amount since March, 2008.

In Germany business confidence improved more than expected in February and has defied fears that the euro zone largest economy has slipped into recession.

Both near and long term outlooks are bullish for the USD/JPY. Levels at 80.17/79.97 and 79.85 provide sufficient support for the pair to challenge 80.41

We report on the current global currency exchange movements and offer our clients the very best currency exchange rates available. Our specialty is the ability to offer competitive time option forward currency contract rates. If this is not the most recent daily currency exchange news report, view the most recent news here Buy and sell currency at the best global currency exchange rates available today through FX-ForeignExchange,0044 (01480) 458400 or 07525 984456. This daily global currency exchange report is for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. FX-currency exchange cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

Daily Market FX News Wednesday 22nd February, 2012

FX-Analysts have seen that even though the EU Officials have managed to reach the long awaited agreement on the second Greek bailout the markets have been very moderate.

After the negotiations that lasted over 13 hours we know that further cuts have been agreed in Health Care, minimum wage, military spending and private bondholders have been convinced to take on more losses whilst the ECB have decided to pass its profits from Greek bond purchases to EU national central banks contributing this way with a 5.5% debt reduction.

The market has reacted indifferently with the EUR/USD declining all the way to 1.3200 whilst European stocks fell.

The Pound Sterling is clinging to the 1.5800 mark this morning ahead of the release of the Bank of England minutes later on. The British Monetary Authority has left the lending benchmark unchanged at 0.5% in its last meeting but is raised its asses purchase programme by £50 billion.

The AUD seems to have recovered to print new session highs so far we have seen 1.0775 and it has been unaffected by the resignations of the Australian Foreign Minister K Rudd.

Japanese stocks fell on Tuesday even after the Euro area finance ministers agreed to a 130 billion euro Greek bailout.

The GBP/USD price tumbled just before hitting 1.5913 and it is now expected to get support at 1.5727.

In China the manufacturing sector contracted again in the fourth straight month as new export orders dropped sharply in the face of the Euro area debt crisis.

We report on the current global currency exchange movements and offer our clients the very best currency exchange rates available. Our specialty is the ability to offer competitive time option forward currency contract rates. If this is not the most recent daily currency exchange news report, view the most recent news here Buy and sell currency at the best global currency exchange rates available today through FX-ForeignExchange,0044 (01480) 458400 or 07525 984456. This daily global currency exchange report is for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. FX-currency exchange cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.