Online Forex King- Currency Trading.

Currency Trading Advice, Broker Reviews & News from a Former City FX Trader

Hello EU. Greece Calling. We Have Nil Points.

Greece dominates again
Once again Greece became the focal point for the market for much of the week.
Massive pressure in terms of further weakness in the bond market and on credit default swaps was prompted by news that the Greek deficit for 2009 was marked up 12.9 to13.6. To add further pressure Moody´s downgraded  them a [...]

Weekly Forex Update. Goldman Sacked?

Sentiment change swings market back.
After last weekends announcements on Greece and the knee jerk positive move for the Euro things fizzled out and then reversed.
Firstly after initial improvements in Greek bonds and a stronger Euro the market fully digested the continued lack of clarity and reversed both gains.
Fridays shock announcement that the SEC was prosecuting [...]

Weekly Review. Greece: Don´t Call For Me Argentina…

Euro/US Dollar back where it began
The Euro finished the week unchanged against the dollar having recovered its earlier losses. Reports that Germany has finally bowed to pressure and will rubber stamp a bale out at rates around half the current borrowing rate for Greece could well help further advances for the Euro this week.This could [...]

Sterling Dips on PMI news

Sterling tripped up after poorer than expected UK PMI numbers (Purchasing Managers Index).
The UK currency was down versus the dollar and softer against the euro after a purchasing managers’ survey showed less growth in the UK services sector than was forecast.
March’s PMI number fell to 56.5 from 58.4 in February, in a survey by Markit [...]

Pre Easter Weekend Report

As we alluded to earlier on in the week, the US dollar continued to move up against the Japanese Yen today. It hit a seventh month high pushed on by a wave of favourable US data. Japanese investors flocked overseaes to invest funds into higher-yielding currencies at the beginning of their fiscal year.
Data reports on [...]