Global Economic Calendar (18-September-2012)

Global Economic Calendar for 18th September 2012
**Time is with respect to Singapore Time (GMT+8:00)

Global Economic Calendar (17-September-2012)

Global Economic Calendar for 17th September 2012
**Time is with respect to Singapore Time (GMT+8:00)

Global Economic Calendar (14-August-2012)

Global Economic Calendar for 14th August 2012
**Time is with respect to Singapore Time (GMT+8:00)

Yen Gains to Six-Week High Versus Euro on Growth Outlook

The yen climbed to the strongest level in almost six weeks against the euro and gained versus all its most-traded counterparts as signs global growth is slowing underpinned demand for the relative safety of the currency.

The dollar rose versus all its major peers except the yen after South Korea unexpectedly lowered interest rates, while the euro slid below $1.22 for the first time since July 2010. The Bank of Japan (8301) refrained from expanding stimulus, adding to haven demand. China releases quarterly gross domestic product data today. Australia’s dollar slid after employers cut jobs.

“The Bank of Japan monetary-policy decision didn’t lead to any significant new expansion in the BOJ balance sheet or something the market would consider more aggressive quantitative easing,” Shahab Jalinoos, a Stamford, Connecticut-based senior currency strategist at UBS AG, said in a telephone interview. “The market was disappointed, and the yen clawed back some recent losses.”

The yen gained 0.9 percent to 96.72 per euro at 1:15 p.m. New York time after appreciating earlier to 96.43, the strongest level since June 1. Japan’s currency advanced 0.6 percent to 79.30 per dollar. The euro weakened 0.4 percent to $1.2196 after sliding to as low as $1.2167.

Japan’s currency rose versus the dollar as the extra yield investors receive for investing in two-year U.S. Treasuries versus comparable Japanese government bonds fell to the lowest in a month, limiting dollar-denominated assets’ appeal. The yield spread was 16 basis points, or 0.16 percentage point.

Euro Weakens as Investors Sell to Buy Higher-Yield Assets

The euro fell to a two-year low versus the dollar and weakened against all of its 16 most-traded peers as traders used the shared currency to fund purchases of higher-yielding assets.

The 17-nation currency dropped to the weakest on record versus Australia’s dollar five days after the European Central Bank cut its key interest rate to an all-time low 0.75 percent. Sweden’s krona reached its strongest against the euro since 2000 as industrial production fell less than forecast, and Mexico’s peso gained versus the dollar on bets Europe’s crisis will ease.

“The euro is now the main funding currency, and everyone wants to be short euro,” said Sebastian Galy, a senior foreign- exchange strategist at Societe Generale SA in New York. “The dollar is no longer the main funding currency.” A short position is a wager a currency will decline in value.

The euro depreciated as much as 0.6 percent to $1.2235, the lowest since July 2010, before trading at $1.2255 at 1:36 p.m. New York time, down 0.5 percent. The common currency declined 0.6 percent to 97.38 yen and touched 97.23 yen, the weakest since June 5. The yen gained 0.1 percent to 79.47 per dollar.

Australia’s dollar climbed 0.5 percent to A$1.2002 per euro and touched A$1.1988. The Aussie was little changed at $1.0209 and slipped 0.1 percent to 81.12 yen.
Investors sell currencies of nations with low borrowing costs to purchase those with higher yields in the carry trade. Japan’s yen and the U.S. dollar are traditional funding currencies because the nation’s central banks are holding interest rates at almost zero. The Reserve of Australia’s cash rate target is 3.5 percent.

FNP Squawk - EUR/USD (20-06-2012)

Hello everybody! What's is going on with everyone? Hope everyone is well =]

EU Union is in the bag. With much anxiety and rumors, what is EU's next course of action? Greeks, Spanish and Italians, to start off, they are the happening and fun Europeans to start with =] A non-mechanical, non-mechanical and non-systemic Europeans :P

Anyway, let's start with what I am seeing.

EUR/USD, has made a great fall ever since their crisis. A lot of talks saying EUR is picking up before and after Greeks elections. Well, after the fall to  1.2287, price indeed bounced but this bounce is going to last. 

Take a look at the daily chart, it is too early to come out with any picture. The only immediate picture that is visible is that price action as of now after the bounce looks like it is going through a "Bear Flag". Calmly creating a channel after the bounce.

Whether EUR/USD is going up or down. depends on how it breaks out of this Bear Flag. I have not been holding a position in Spot FX since 12th June 2012 but I have been doing a lot of scalping using Binary Options. Scalping is more feasible in the current market conditions unless we manage catch something in the market, there and then, spot on. The right place and the right time, go for it. If not, stay with scalping. Discipline is the key to get out of from month of June with a good number.

Yen Gains Versus Peers Before Italy Debt Sale

The yen climbed against all of its major counterparts amid concern the bailout of Spain’s banks will move Italy to the forefront of the debt crisis, spurring demand for the Japanese currency as a haven.

The 17-nation euro remained lower versus the dollar following a three-day slide before Italy auctions debt this week and Greeks vote in a general election on June 17. The euro climbed early yesterday after Spain asked European governments for as much as 100 billion euros ($125 billion) to save its banking system, making it the fourth member of the currency bloc to seek a rescue.

“There is no conviction and there is no belief that things are going to get better” in the euro region, said Kurt Magnus, executive director of currency sales in Sydney at Nomura Holdings Inc., Japan’s biggest brokerage. “This is the reason we’re seeing the U.S. dollar and yen so well bid.”

The yen climbed 0.3 percent to 98.86 per euro as of 10 a.m. in Tokyo from the close in New York yesterday. It gained 0.3 percent to 79.20 against the dollar. The euro traded at $1.2483 after falling 0.3 percent to $1.2482 yesterday.

Italy’s 10-year debt dropped yesterday as the yields climbed 26 basis points, the most since Dec. 8, to 6.03 percent. The nation is scheduled to auction securities on June 14 maturing in 2015, 2019 and 2020.
Italian banks led a decline in European stocks yesterday, with UniCredit SpA (UCG), the country’s largest lender, losing 8.8 percent and Intesa Sanpaolo SpA (ISP), the second largest, sliding 5.9 percent. The nation’s debt load is the heaviest in the euro region after Greece’s, as measured by its ratio to annual economic output, according to data compiled by Bloomberg.

Euro Rises to Two-Week High on Spain Bailout Request

The euro rose against most of its major counterparts after European governments agreed to provide Spain with a bailout loan.

The 17-nation currency climbed to a two-week high after Spain asked for as much as 100 billion euros ($126 billion) to save its banking system, making it the fourth member in the currency bloc to seek a rescue. The dollar and yen fell on decreased demand for refuge assets as Asian shares rallied.

The euro reached $1.2671, the highest since May 23, before trading at $1.2631 as of 1:36 p.m. in Tokyo, 0.9 percent higher than the June 8 close in New York. It jumped 1.1 percent to 100.59 yen. The dollar added 0.2 percent to 79.64 yen.

The MSCI Asia Pacific Index of shares advanced 1.8 percent.

Seven months after winning a landslide victory, Spanish Prime Minister Mariano Rajoy was forced to abandon his bid to recapitalize banks without external help. Foreign investors had cut holdings of the nation’s debt amid concern banks’ bad loans may overwhelm public finances, driving borrowing costs to near euro-era records.

Futures traders had increased their bearish bets on the euro to an unprecedented level, according to figures from the Washington-based Commodity Futures Trading Commission. The difference in the number of wagers by hedge funds and other large speculators on a decline in the euro, so-called net shorts, compared with those on a gain was 214,418 on June 5, the most on record going back to 1999.

“The growth outlook for most of the euro area is already bleak,” Guillermo Felices, head of European currency strategy in London at Barclays Plc, and Yuki Sakasai, a New York-based currency strategist, wrote in a research note. “One way to spur growth would be the ECB easing to weaken the euro. Otherwise, without growth, the euro will remain under pressure.”

Euro Strength Seen by Stiglitz Removing Greek Debt

Rather than a euro failure, an orderly Greek exit from the currency has Nobel laureate Joseph Stiglitz and Nomura Holdings Inc. chief strategist Jens Nordvig predicting a stronger and more stable monetary union.

While Societe Generale SA suggests that the euro might break up because of the cost of Greece’s departure, the nation accounts for just 2.3 percent of the 17-nation trading bloc’s gross domestic product. It also has 356 billion euros ($450 billion), or 4.3 percent of the region’s total debt, according to data compiled by Bloomberg. The area’s trade deficit last year would have been a surplus without its weakest member, according to European Union data.

Foreign-exchange markets display little evidence of the euro being dismembered. The currency trades 53 percent above its record low of 82.30 U.S. cents in October 2000. Bond yields of Austria, Belgium, Finland, France, Germany and the Netherlands have fallen to record lows, as investor demand for their debt increases. Removing Greece from the euro would reduce the bloc’s debt-to-GDP ratio to 85.5 percent from 87.3 percent.

Aussie Set for Biggest Drop This Year on RBA Easing Bets

The RBA cut its key rate by 50 basis points, or 0.5 percentage point, to 3.75 percent on May 1. Governor Glenn Stevens cited economic conditions that “have been somewhat weaker than expected” after the RBA decision, which most economists surveyed by Bloomberg News predicted would be a quarter-percentage-point reduction in borrowing costs.

Interest-rate swaps data compiled by Bloomberg show investors are betting that the RBA will lower its benchmark rate to 3 percent by November, matching 2009’s all-time low. There’s more than a 35 percent chance of the rate declining to 2.75 percent or lower, the data indicate.

The RBA sees average growth of 3 percent in 2012, down from a February estimate of 3.5 percent, according to its quarterly monetary policy statement released today. Consumer prices will rise 2.5 percent in the year to December, from a previous prediction of 3 percent. Underlying inflation is predicted to be at 2.25 percent from a previous 2.75 percent, the central bank said. The estimates are based on the overnight cash rate target remaining at 3.75 percent, it said.

The Australian dollar’s relative strength index versus the greenback was at 41 from 56 on April 27, nearing the 30 level that some traders see as a sign the currency may be about to reverse direction.

Both the Australian and New Zealand currencies fell yesterday after data showed growth slowed in U.S. services industries, curbing demand for risk assets.

FNP SQUAWK (3rd May 2012)

EUR
The EUR continued to decline vs. its main currency counterparts on expectations that Mario Draghi will signal that more stimulus is needed to tackle the eurozone's debt crisis. The EUR/USD pair fell significantly in Wednesday's trading session. The EUR/USD is currently lower this morning by 0.11 percent at $1.3144. The euro is also trading lower vs. the JPY this Thursday morning. The ECB is set to keep rates unchanged at the historical low of 1 percent today. There will be the Spanish auction of three-year and five-year notes in the coming hours. The euro is also lower due to weak economic figures from the region yesterday.

USD
The U.S. dollar is trading higher against most if its main peers ahead of a decision by the European Central Bank to keep rates unchanged at 1%. This is due to the weakness of the European economy as of now. The gains for the greenback come on the back of pessimistic data from the eurozone yesterday. The inconsistent data from the leading economies continues to drive traders back to the safe-haven dollar. The GBP/USD pair is down this morning, while the dollar is also up vs. the JPY, AUD and EUR.

GBP
The British pound climbed against the euro in response to a report showing U.K. construction output was better-than-forecast. The GBP also gained in response to yesterday's poor employment and manufacturing data from the eurozone. The GBP/USD pair is trading a touch lower right now. This is after hitting an 8-month higher on Wednesday. The GBP/USD could actually rise in the next few hours, despite the slight dip in the pair this Thursday morning.

Crude Oil
The price of crude oil slid to its lowest level in 2 weeks yesterday, as was predicted in the Daily Analysis of 02052012 that stated "Look to open Put options in crude oil during the current trading day." With rising U.S. stockpiles, U.S. employers adding fewer jobs than anticipated last month and with higher unemployment in Germany, it is no wonder that oil is trading so bearishly. As inventories continue to rise, traders become unsure about the global recovery. The contract plummeted yesterday and crude is also trading lower this morning at $105.12. Positive economic releases today are required in order to drive oil prices higher. Expect another day of bearishness for crude, as pessimism grips the markets.

GOLD
Gold slid yesterday due to negative economic data from the U.S. and Germany. This pushed traders to alternative assets, which in turn made the yellow metal a loser. The declines were predicted in the Daily Analysis of 02052012 that said "Going short on the gold binary option could bring a lot of profit today." Gold's losses continue this morning on a rising dollar and due to global economic uncertainty. The precious metal is currently trading lower by $5.65 at $1,648.35.

Yen Advances as Slower U.S. Growth

The yen rose against most of its major counterparts after the U.S. economy grew less than forecast and Standard & Poor’s cut Spain’s credit rating, adding to concern Europe’s debt crisis is worsening.

The yen also gained amid concern new Bank of Japan stimulus won’t be enough to boost the nation’s growth. Higher-yielding currencies including New Zealand’s dollar and Mexico’s peso climbed versus the U.S. dollar after slower growth in first- quarter gross domestic product revived bets the Federal Reserve won’t be quick to abandon efforts to support the economy.

The BOJ decision “was fairly disappointing, so the temptation to sell the yen was weakened,” said Sebastien Galy, a senior foreign-exchange strategist at Societe Generale SA in New York. “Slightly disappointing data in the U.S., as long as it’s not too disappointing, is risk-supportive because you have hope for quantitative easing.”

The yen strengthened 0.7 percent to 80.45 per dollar at 12:39 p.m. in New York, extending its weekly rally to 1.3 percent. It reached 80.42, the strongest level since April 17. The Japanese currency advanced 0.4 percent to 106.60 per euro and touched 106.16, the strongest since April 18. The euro rose 0.2 percent to $1.3250, gaining 0.2 percent this week.

Snapshot (FXCM Desk) - (25th Apr, 2:00am)

Just sharing a quick snapshot of what FXCM are seeing over at their desk as of 25th April 2012, 2:00am (Singapore Time).

Terrific Tuesday!!!

JPY
The yen made impressive gains versus all 16 of its major currency counterparts in response to political instability in both Holland and France, which is decreasing the likelihood that the European debt crisis will be contained. The biggest gainers have obviously been safe-haven assets. The JPY climbed vs. the dollar and euro ahead of Dutch Prime Minister Mark Rutte speaking before parliament today, following his cabinet’s resignation yesterday. The JPY climbed 0.3 percent to 106.44 per euro. The USD/JPY pair has slid more than 0.3 percent this morning to 80.92 yen.

CAD
The Canadian dollar made impressive gains against a majority of its peers yesterday on speculation that better growth will lead to higher interest rates. However, the CAD has lost some steam this morning versus its U.S. and Japanese currency counterparts, as growing instability in Europe has increased demand for haven currencies. The USD/CAD pair has slid 0.1 percent in the latest trading to C$0.9904. Going short on the USD/CAD pair could yield high returns today.

AUD
The Australian dollar declined as bond yields sank and consumer inflation slowed in the first quarter. This has led many analysts to the conclusion that the central bank will decrease borrowing costs. The AUD/USD pair is trading lower by about 0.6 percent this morning at the $1.0258 level. The consumer price index rose 0.1 percent in the first quarter versus the 0.6 percent forecast. The RBA has signaled that it is willing to lower rates from 4.25 percent to bolster the Australian economy. The political uncertainty in Europe has led to limited demand for the Aussie. Therefore, opening Call options for the AUD/USD pair looks to be the wise choice among investors this Tuesday.

Global Economic Calendar (25-April-2012)

Global Economic Calendar for 25th April 2012
**Time is with respect to Singapore Time (GMT+8:00)

Global Economic Calendar (24-April-2012)

Global Economic Calendar for 24th April 2012
**Time is with respect to Singapore Time (GMT+8:00)

Global Economic Calendar (23-April-2012)

Global Economic Calendar for 23rd April 2012
**Time is with respect to Singapore Time (GMT+8:00)

Euro Weakens Against Dollar on Funding Concern

The euro weakened against the dollar and pared an advance versus the yen as concern that European nations face difficulty funding debt damped demand.

Europe’s shared currency fell as yields on Spanish 10-year benchmark bonds and French five-year debt rose at auctions, fueling speculation on credit downgrades. The dollar climbed versus the yen as Bank of Japan officials signaled they’ll keep acting to weaken the currency. The greenback advanced against all its major counterparts except the pound and the Taiwanese dollar as weekly U.S. jobless claims were higher than forecast.

“Auction results over the past two weeks show that European sovereigns are still able to place paper, but until there is underlying economic growth, investors are going to continue to demand steep yield premiums for the peripherals and even for France,” said Greg Anderson, the North American head of Group-of-10 nations currency strategy at Citigroup Inc. in New York. “People are building yen positions in anticipation of further easing next week.”

The euro declined 0.1 percent to $1.3106 at 9:26 a.m. New York time. The 17-nation currency was up 0.2 percent to 106.81 yen, after earlier rising as much as 0.7 percent. The dollar appreciated 0.3 percent to 81.49 yen.

Global Economic Calendar (20-April-2012)

Global Economic Calendar for 20th April 2012
 **Time is with respect to Singapore Time (GMT+8:00)

Global Economic Calendar (19-April-2012)

Global Economic Calendar for 19th April 2012

**Time is with respect to Singapore Time (GMT+8:00)

Global Economic Calendar (18-April-2012)

Global Economic Calendar for 18th April 2012

**Time is with respect to Singapore Time (GMT+8:00)

Euro Drops Against Major Peers Before Spain Debt Auctions

The euro fell to less than $1.30 for the first time in two months as Spanish bond yields touched a 2012 high after a minister called on the European Central Bank to do more to stem debt-market turmoil.

The 17-nation currency dropped for a second day against the yen and reached the lowest since 2010 versus the pound. The yen strengthened against all of its 16 most-traded counterparts. China’s yuan weakened as the central bank widened the currency’s trading band. Higher-yielding currencies trimmed losses against the dollar after U.S. retail sales rose in March and yields on Spanish government securities pared increases.

“There’s still a hesitation with respect to trading in European bond markets,” said Nick Bennenbroek, head of currency strategy at Wells Fargo & Co. in New York. “The U.S. data was a little bit better than expected. It’s causing a minor risk-on rally.”

The euro fell 0.3 percent to $1.3040 at 9:59 a.m. in New York after dropping to $1.2995, the weakest since Feb. 16. The shared currency weakened 0.7 percent to 105.12 yen after declining 0.8 percent on April 13. The euro slipped 0.2 percent to 82.35 U.K. pence after reaching 82.10 pence, the lowest since September 2010. The yen rose 0.4 percent to 80.58 per dollar.

Global Economic Calendar (17-April-2012)

Global Economic Calendar for 17th April 2012

**Time is with respect to Singapore Time (GMT+8:00)

Global Economic Calendar (16-April-2012)

Global Economic Calendar for 16th April 2012

**Time is with respect to Singapore Time (GMT+8:00)

My apology...

Hi there,

I do have to apologies for not posting anything for quite sometime due to certain predicament and events that is happening at the bank.

Been quite tied up but updates are done regularly at my Facebook page for those that have added me on Facebook.

Nonetheless, posting on this page will resume soon. As soon as things gets somewhere near sanity at my desk.

Till then, trade safely everyone.

Warmest Regards,

Ash Ariffin

Snapshot (FXCM Desk) - (10th Feb, 3:00am)

Just sharing a quick snapshot of what FXCM are seeing over at their desk as of 10th February 2012, 3:00am (Singapore Time).

Euro Apppreciates as Greek Leaders Reach Deal

The euro reached a two-month high against the dollar and the yen after Greek political leaders said they had reached an agreement on austerity measures needed to obtain a bailout.

The 17-nation currency strengthened against all but one of its most-traded counterparts after European Central Bank President Mario Draghi said it would lower the collateral requirements to access the next three-year loan auction later this month. The yen sank against higher-yielding counterparts as implied volatility for Group of Seven currencies fell to an 11- month low.

“The euro’s up on a combination of Greece and what the ECB has done in terms of reducing the collateral requirements and boosting expectations for the LTRO, which is supportive of risk appetite,” Mark McCormick, a New York-based currency strategist at Brown Brothers Harriman & Co., said referring to the ECB’s long-term refinancing operation. “The market has been very short euros and most of these shorts are getting squeezed out.” A short is a bet an asset will fall.

The euro gained 0.3 percent to $1.3293 at 11:29 a.m. in New York after rising to $1.3322, the strongest since Dec. 12. The common currency gained 0.9 percent to 103.06 yen after reaching 103.13 yen, the highest since Dec. 12. The yen dropped 0.7 percent to 77.55 per dollar.

Global Economic Calendar (10-February-2012)

Global Economic Calendar for 10th February 2012

**Time is with respect to Singapore Time (GMT+8:00)

Snapshot (FXCM Desk) - (9th Feb, 2:30am)

Just sharing a quick snapshot of what FXCM are seeing over at their desk as of 9th February 2012, 2:30am (Singapore Time).

Euro Fluctuates Amid Greek Sovereign-Debt Negotiations

The euro fluctuated against the dollar amid speculation Greek Prime Minister Lucas Papademos and coalition party leaders will fail to agree on terms required for a bailout.

The Dollar Index rose from its weakest level in two months on demand for a refuge as Greek political leaders were locked in discussions with Papademos. The yen fell against the majority of its major peers as Japan’s current-account surplus slid to a 15- year low in 2011. Brazil’s real rallied even as the central bank bought dollars in the forwards market.

“Greece, its leaders and its people are not going to agree to anything unless there is a silver lining and a return to growth,” said Michael Woolfolk, senior currency strategist in New York at Bank of New York Mellon Corp. “It’s not credible to think they’ll agree to measures that have recession as far as the eye can see.”

Europe’s shared currency was little changed at $1.3567 at 1:09 p.m. New York time after reaching $1.3289, the most since Dec. 12. The euro was 0.4 percent stronger at 102.19 yen after earlier touching 102.45, the strongest level since Dec. 21. The yen weakened 0.3 percent to 77.01 per dollar.

Greece’s Papademos negotiated with political leaders in Athens after delaying the gathering for a second time in as many days. Yesterday he met officials from the European Commission, the European Central Bank and the International Monetary Fund to put the final touches on terms required for a 130 billion-euro ($172 billion) bailout.

Euro-area finance ministers are due to gather tomorrow in an emergency meeting in Brussels as the Greek government pushes to complete talks.

Global Economic Calendar (09-February-2012)

Global Economic Calendar for 9th February 2012

**Time is with respect to Singapore Time (GMT+8:00)

Snapshot (FXCM Desk) - (8th Feb, 3:30am)

Just sharing a quick snapshot of what FXCM are seeing over at their desk as of 8th February 2012, 3:30am (Singapore Time).

Euro Advances to Eight-Week High Against Dollar on Greek Debt Speculation

The euro rose to the highest in eight weeks against the dollar as Greek officials and creditors worked on the final draft of an agreement on budget and structural measures needed to free up a second aid package.

The Dollar Index fell to its lowest since December as stocks and commodities erased earlier losses. The 17-nation currency rallied against all of its major counterparts after an official, who declined to be named, said the budget document would be discussed by political party leaders tonight. Australia’s dollar surged after the central bank unexpectedly kept interest rates unchanged.

“Euro-dollar has driven up through $1.32 and is taking other currencies with it because people feel this thing just may be resolved,” said Martin Briggs, senior risk consultant for AFEX Markets Plc in London. “There’s been a lot of nervousness about Greek debt talks, and the market seems to have become more sanguine at this time. In the end, the euro politicians will strong-arm the Greeks into the austerity measures.”

The euro rose 1 percent to $1.3257 at 12:48 p.m. New York time after touching $1.3270, the highest level since Dec. 12. The yen fell 0.4 percent to 76.88 per dollar after dropping to 76.97, the weakest since Jan. 25. The shared currency gained 1.3 percent to 101.84 yen.

Greek Prime Minister Lucas Papademos planned to convene the nation’s political leaders to seek consensus on the cuts required for a bailout. He is meeting today with Charles Dallara, managing director of the International Institute of Finance, the body in charge of negotiating for private-sector involvement in Greek debt reduction, an unnamed spokeswoman at the premier’s office said. Papademos will meet with political leaders at 9 p.m. in Athens.

Global Economic Calendar (08-February-2012)

Global Economic Calendar for 8th February 2012

**Time is with respect to Singapore Time (GMT+8:00)

Snapshot (FXCM Desk) - (7th Feb, 3:40am)

Just sharing a quick snapshot of what FXCM are seeing over at their desk as of 7th February 2012, 3:40am (Singapore Time).

Euro Drops Against Dollar, Yen on Concern Greek Bailout Agreement Elusive

The euro slid the most in a week against the dollar and yen on concern Greece’s political leaders will fail to reach an agreement allowing the nation to receive a second bailout from international creditors.

The 17-nation currency fell as Fitch Ratings said a Greek disorderly default “cannot be wholly discounted.” The dollar rallied against all its major counterparts amid increasing expectations the U.S. central bank will avoid further easing of monetary policy. Australia’s currency retreated for the first time in five days after the nation’s retail sales declined.

“The dollar has outperformed the likes of Aussie and kiwi, and the euro is lower, so the market is cognoscente a problem exists in Greece,” said Shahab Jalinoos, a senior currency strategist for UBS in Stamford Connecticut. “But it’s not a whitewash of pro-risk currencies, so the market is still quite sanguine about the situation, for now

The euro fell as much as 1 percent to $1.3028, the steepest intraday decline since Jan. 30, and traded 0.6 percent weaker at $1.3076 at 11:04 a.m. New York time. It dropped 0.6 percent to 100.18 yen. The dollar was little changed at 76.60 yen.

The yen rose against most of its major peers even after Bank of Japan Governor Masaaki Shirakawa said the nation’s economic condition is ‘‘severe” because of deflation and the strong currency. The central bank is implementing monetary easing measures and will take appropriate steps as needed, he said in parliament in Tokyo today.

Global Economic Calendar (07-02-2012)

Global Economic Calendar for 7th February 2012

**Time is with respect to Singapore Time (GMT+8:00)

Snapshot (FXCM Desk) - (3rd Feb, 3:30am)

Just sharing a quick snapshot of what FXCM are seeing over at their desk as of 3rd February 2012, 3:30am (Singapore Time).

Euro Drops on Greek Debt-Talk Concern Before Release of U.S. Jobs Data

The euro fell against the majority of its most-traded counterparts as Greece struggles to reach an agreement with its bondholders on cutting the nation’s debt burden.

The 17-nation currency fell the most against its higher- yielding counterparts, as South Korea’s won and the Brazilian real rallied. The yen rose to almost a postwar high against the dollar, prompting speculation Japan will intervene. The dollar rose before a report tomorrow that may show employers boosted payrolls in January and the jobless rate held at an almost three-year low.

“It’s pretty well capped for the time being because we had several days in a row where the euro failed to advance above $1.32,” said Carl Forcheski, a director on the corporate currency sales desk at Societe Generale SA in New York. “The market before payrolls data just doesn’t seem to have the momentum to break out in either direction. It wants to see what tomorrow’s data will be.”

The euro fell 0.1 percent to $1.3153 at 1:50 p.m. in New York after rising to $1.3197 earlier. The shared currency weakened 0.2 percent to 100.13 yen. The Japanese currency strengthened 0.1 percent to 76.13 yen per dollar and reached 76.05, approaching the postwar record of 75.35 set on Oct. 31.

Support for the euro comes in at its 10- and 50-day moving averages, at $1.3095 and $1.3059 respectively, Forcheski said. The currency rose to as high as $1.3234 this week on Jan. 30.

Global Economic Calendar (03-February-2012)

Global Economic Calendar for 3rd February 2012

**Time is with respect to Singapore Time (GMT+8:00)

Euro Rises Versus U.S. Dollar as Manufacturing Data Outpace Estimates

The euro rose against the dollar for the first time in three days as a purchasing managers’ index of manufacturing output in the region beat analysts’ estimates, adding to signs Europe’s economy is stabilizing.

The greenback fell versus 13 of its 16 most-traded peers after manufacturing in China and the U.S. also rose, damping demand for safer assets. The yen earlier appreciated against its U.S. counterpart, trading within one yen of a record high and adding to speculation Japan’s central bank may sell the currency to stem its appreciation.

“The main factor boosting the risk sentiment today is from the PMI reports globally,” said Vassili Serebriakov, a currency strategist at Wells Fargo & Co. in New York. “Markets are pricing in a more constructive outlook for global growth in 2012, so that’s the main factor behind dollar weakness and stronger risk appetite.”

The 17-nation currency climbed 0.6 percent to $1.3164 at 1:52 p.m. New York time. The euro rose 0.7 percent to 100.44 yen, and the dollar was little changed at 76.30 yen, after reaching 76.03 yen, the least since Oct. 31, when it touched a post-World War II record of 75.35.

The Standard & Poor’s 500 Index advanced 1.2 percent and the MSCI World Index of equities rose 1.4 percent.

South Africa’s rand rose the most against the dollar among the major currencies, adding 1.7 percent to 7.6750.

The euro reversed an earlier decline after Markit Economics said its manufacturing gauge based on a survey of purchasing managers in the euro region rose to 48.8 in January from 46.9 in December. That compares to a median estimate of 48.7 in a Bloomberg survey of economists. In Germany, the output gauge reached the highest in six months.

Global Economic Calendar (02-February-2012)

Global Economic Calendar for 2nd February 2012

**Time is with respect to Singapore Time (GMT+8:00)

Euro Declines to Lowest in Almost a Week Versus Dollar on Greek Concern

The euro fell to its weakest level in almost a week versus the dollar as investors speculated European policy makers won’t be able to reach an agreement regarding Greece’s debt obligations.

Canada’s dollar fell from a three-month high against its U.S. counterpart after the nation’s economy unexpectedly contracted in the fourth quarter. The dollar and yen pared earlier losses as stocks fell after consumer confidence and business activity in the U.S. was weaker than forecast in January. The euro weakened against the majority of its most- traded peers as Standard & Poor’s increased the number of Portuguese banks on “creditwatch negative.”

“There is still no news on the Greek private-sector involvement, and it will now drag out until Feb. 13, so that has weighed on sentiment,” said Mary Nicola, a New York-based currency strategist at BNP Paribas SA. A formal offer for a debt swap must be made by Feb. 13, Greek Finance Minister Evangelos Venizelos told reporters in Athens today.

The euro was down 0.5 percent to $1.3079 at 2:21 p.m. New York time, after touching $1.3042, the lowest level since Jan. 25. The dollar fell 0.1 percent to 76.26 yen after falling to 76.16 yen, the weakest level since Oct. 31. The European shared currency fell 0.6 percent to 1.00261 yen.

New Zealand’s dollar and South African rand rallied as investors sought higher-yielding assets.

Global Economic Calendar (01-February-2012)

Global Economic Calendar for 1st February 2012

**Time is with respect to Singapore Time (GMT+8:00)

Euro Weakens and Aussie Declines

The euro fell for the first time in six days against the dollar as European Union leaders met in Brussels amid concern Greek bailout negotiations will hinder efforts to resolve the financial crisis.

The 17-nation currency slid for a third day versus the yen as Italy raised less than its maximum target at a bond sale after Fitch Ratings downgraded the nation last week. The Swiss franc strengthened to the highest level against the euro since September. South Africa’s rand and Australia’s dollar slid as stocks fell, damping demand for higher-yielding assets.

“The summit is happening today but we’re not seeing any progress on the private-sector involvement in Greece or improvement on a fiscal compact,” said Brian Kim, a currency strategist in Stamford, Connecticut, at Royal Bank of Scotland Group Plc. “There was some hope last week and it’s gotten pulled back, and that’s affecting broader risk sentiment.”

The euro fell 1 percent to $1.3085 at 9:06 a.m. in New York, after rising 2.2 percent last week. The common currency dropped 1.2 percent to 100.19 yen. The euro declined 0.1 percent to 1.20535 Swiss francs after sliding to 1.2043, the weakest since Sept. 19. The dollar was little changed at 76.68 yen.

The Swiss National Bank in September capped the franc’s strength at 1.20 per euro. The president of the central bank at the time, Phillip Hildebrand, resigned earlier this month.

Global Economic Calendar (31-January-2012)

Global Economic Calendar for 31st January 2012

**Time is with respect to Singapore Time (GMT+8:00)

Global Economic Calendar (30-January-2012)

Global Economic Calendar for 30th January 2012

**Time is with respect to Singapore Time (GMT+8:00)

Dollar Declines to Five-Week Low Versus Euro on Fed Outlook

The dollar fell to a five-week low against the euro on speculation the Federal Reserve will seek to bring down unemployment by introducing another round of bond purchases, debasing the currency.

The U.S. currency declined versus all but one of its 16 major counterparts after policy makers said yesterday the benchmark interest rate would stay low until at least late 2014, pushing back a previous date of mid-2013. The Canadian dollar strengthened to parity with the greenback for the first time since November. Australia’s dollar rose to the strongest since October as Russia said it may start buying the currency.

“The dollar has been getting sold across the board rather heavily since the Fed’s announcement,” said Neil Jones, head of European hedge fund sales at Mizuho Corporate Bank Ltd. in London. “The headlines were quite dovish and these affected the market, with the impulse reaction being to sell dollars.”

The dollar fell 0.3 percent to $1.3145 per euro at 7:01 a.m. in New York after sliding to $1.3175, the weakest level since Dec. 21. The U.S. currency dropped 0.2 percent to 77.64 yen. The euro was little changed at 102.04 yen after rising to 102.17 yen, the strongest since Dec. 23.

The Fed’s Open Market Committee “recognizes the hardships imposed by high and persistent unemployment in an underperforming economy, and it is prepared to provide further monetary accommodation,” Chairman Ben S. Bernanke said yesterday at a press conference in Washington.

Global Economic Calendar (27-January-2012)

Global Economic Calendar for 27th January 2012

**Time is with respect to Singapore Time (GMT+8:00)

Dollar Strengthens as Greek Debt-Discussion Stalemate Spurs Safety Demand

The dollar rose, reaching the highest level this year against the yen, as European policy makers and Greek bondholders failed to reach an agreement on a debt-swap plan for the indebted nation, spurring safety demand.

The yen fell against 12 of 16 major peers tracked by Bloomberg after the Bank of Japan cut its economic growth forecast for next year. The euro reached the highest level in almost four weeks against the yen earlier after a report showed European services and manufacturing industries unexpectedly expanded in January. The pound rose against most peers after a report showed the budget deficit shrank in December more than predicted.

“We’re getting a broad dollar rally across the board on a little bit of risk aversion,” said Boris Schlossberg, director of research at online currency trader GFT Forex in New York. “Europe’s PMI data was much more positive than the market thought. That’s giving the broader growth scenario a boost, but the beneficiary right now is the dollar because the euro is down over this issue of Greek private sector investment.”

The dollar rose 0.9 percent to 77.73 yen at 9:36 a.m. in New York and touched 77.82, the highest level since Dec. 29. The greenback appreciated 0.4 percent to $1.2961 per euro. The common currency rose 0.5 percent to 100.79 yen.

Global Economic Calendar (25-January-2012)

Global Economic Calendar for 25th January 2012

**Time is with respect to Singapore Time (GMT+8:00)

Global Economic Calendar (24-January-2012)

Global Economic Calendar for 24th January 2012

**Time is with respect to Singapore Time (GMT+8:00)

Dollar, Yen Weaken Before Merkel

The dollar and yen weakened against higher-yielding currencies before Germany’s chancellor meets with the International Monetary Fund’s managing director amid signs European leaders are taking steps to end the debt crisis.

The U.S. currency slid the most versus Brazil’s real and New Zealand’s dollar as stocks and commodities advanced amid bets the Peoples Bank of China may move to spur growth. Implied volatility (JPMVXYG7) for currencies of advanced economies fell to a six- month low. The euro gained versus the dollar on speculation investors pared wagers the 17-nation currency will weaken.

“It’s about the performance of commodity currencies today,” said Mary Nicola, a New York-based currency strategist at BNP Parisbas SA. “There are further expectations of easing from the PBOC. If you have more easing, it’s more supportive of credit generation and investment, so you’re going to help support commodities and raw materials.”

The dollar fell 0.1 percent to $1.2778 per euro at 11:45 a.m. in New York after weakening 0.4 percent yesterday. The yen declined 0.1 percent to 98.20 per euro. The dollar was little changed at 76.85 yen.

The implied volatility of three-month options for Group of Seven currencies fell to 10.6 percent, according to a JPMorgan Chase & Co. index, the lowest level on a closing basis since July 8. Reduced volatility indicates less probability of currency fluctuations that may erode profit on investments in higher-yielding assets.

Global Economic Calendar (11-January-2012)

Global Economic Calendar for 11th January 2012

**Time is with respect to Singapore Time (GMT+8:00)

Euro Snaps Three-Day Drop Against Dollar as Merkel Meets Sarkozy on Debt

The euro snapped a three-day slide against the dollar as the leaders of Germany and France met to craft a plan for rescuing the 17-nation common currency.

The Swiss franc advanced after central-bank Chairman Philipp Hildebrand quit following currency-trading allegations. New Zealand’s dollar and Brazil’s real were the top performers versus the dollar as commodities rose. The euro gained versus the majority of its most-traded peers after euro-area leaders said they may complete a new budget rulebook by Jan. 30. U.S. retail sales rose last month, data this week may show.

“This meeting was just setting up for the finance-minister meeting later this month,” Mark McCormick, a New York-based currency strategist at Brown Brothers Harriman & Co., said after the talks between Merkel and Sarkozy. “We have a little tug of war between better macro data in the United States and policy developments in the euro zone.”

The shared currency advanced 0.3 percent to $1.2751 at 9:34 a.m. New York time, after earlier falling to $1.2666, its weakest level since Sept. 10, 2010. The euro was little changed at 97.96 yen after dropping earlier to 97.28, the least since December 2000. The dollar fell 0.2 percent to 76.83 yen.

The euro is unlikely to rise over $1.28, McCormack said.

Futures traders increased their bets to a record high that the euro will decline against the dollar. The difference between wagers that the shared currency would fall versus those that it would rise -- so-called net shorts -- surged to 138,909 in the week ended Jan. 3, according to data from the Commodity Futures Trading Commission.

Global Economic Calendar (10-January-2012)

Global Economic Calendar for 10th January 2012

**Time is with respect to Singapore Time (GMT+8:00)

Global Economic Calendar (9-January-2012)

Global Economic Calendar for 9th January 2012

**Time is with respect to Singapore Time (GMT+8:00)

Euro Weakens Amid Concern Region’s Debt Crisis Is Worsening

The euro fell from almost a one-week high against the dollar after a European report showed inflation slowed and Italy’s biggest bank said it needs to raise more capital, fueling bets the region’s debt crisis is worsening.

The 17-nation currency dropped toward an 11-year low against the yen after UniCredit SpA’s plan to sell shares spurred concern European banks will need to raise more capital. The euro slid versus most major peers after El Pais newspaper said the Spanish government helped the Valencia region make an overdue payment to Deutsche Bank AG. The pound climbed to a 15- month high versus the shared currency.

“The German auction wasn’t stellar, and you can trace the weaker euro to concerns in Spain that are starting to bubble to the surface again,” said Richard Franulovich, a senior currency strategist at Westpac Banking Corp. in New York. “There’s definitely a somewhat more defensive tone to the market today.”

The euro fell 1 percent to $1.2924 at 11:15 a.m. in New York after rising to $1.3077 yesterday, the highest level since Dec. 28. The common currency depreciated 1 percent to 99.16 yen. It dropped to 98.66 yen on Jan. 2, the weakest since December 2000. The dollar was little changed at 76.74 yen.

Europe’s shared currency slid 5.6 percent over the past six months, the worst performer among the 10 developed-nation currencies tracked by Bloomberg Correlation-Weighted Indexes, as investors sought safer assets amid the region’s debt turmoil. The dollar gained 7.3 percent and the yen climbed 12 percent.

Global Economic Calendar (05-January-2012)

Global Economic Calendar for 5th January 2012

**Time is with respect to Singapore Time (GMT+8:00)

Dollar Weakens Versus All of Its Major Peers

The dollar fell the most more than a month against the euro as signs manufacturing is expanding in the U.S. and China damped the appeal of safer assets.

The greenback weakened versus all of its most-traded peers after a U.S. factory gauge rose at the fastest in six months. Data earlier this week showed gains in factory indexes for China and India. The euro advanced from an 11-year low versus the yen after German unemployment fell more than forecast. Australia’s and New Zealand’s dollars rose to the strongest since November.

“One of the factors that’s undermining the dollar today is a reversal of year-end trades into the safe haven of the dollar,” said Michael Woolfolk, senior currency strategist in New York at Bank of New York Mellon Corp., the world’s largest custodial bank, with more than $26 trillion in assets under administration. “It’s helping reverse international equities and cause some dollar softness right now.”

The dollar fell 0.9 percent to $1.3047 per euro at 12:40 p.m. in New York after dropping as much as 1 percent, the biggest intraday decline since Nov. 30. The U.S. currency declined 0.2 percent to 76.73 yen. The euro gained 0.6 percent to 100.10 yen after falling to 98.66 yesterday, the weakest level since December 2000.

The Standard & Poor’s 500 Index climbed 1.7 percent.

Global Economic Calendar (04-January-2012)

Global Economic Calendar for 4th January 2012

**Time is with respect to Singapore Time (GMT+8:00)