Weekly Forex News March 10th 2013FCTOFX: Markets were dominated by strong equities, a strong dollar and aweak yen last wee...
Weekly Forex News March 10th 2013Nonetheless the dollar was still bound in range against commodity currenciesand EUR/USD s...
Weekly Forex News March 10th 2013In the US, the Non-farm payroll showed an impressive 236,000 growth in theUS employment m...
Weekly Forex News March 10th 2013Both the European Central Bank and the Bank of England left their monetarystance unchange...
Weekly Forex News March 10th 2013The Current Bank of Japan governor held his last meeting and kept ratesunchanged at 0 to ...
Weekly Forex News March 10th 2013The Bank of Canada left the overnight rate at 1%, with the Bank Rate at1.25% and the depo...
Weekly Forex News March 10th 2013The Reserve Bank of Australia left the cash rate unchanged at 3% for a thirdconsecutive m...
Weekly Forex News March 10th 2013The new retail forex trading offering from Forex Currency Trading OnlineLtd., www.FCTOFX....
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Weekly Forex News March 10th 2013

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Weekly Forex News March 10th 2013 Markets were dominated by strong equities, a strong dollar and a weak yen last week. It's clear that economic data from the US showed impressive improvements in the US economy. Meanwhile, the top two Fed officials, Bernanke and Yellen indicated recently the central bank would leave stimulus in place while data continues to show improvements. The DOW Jones jumped to a new record high and closed strongly at 14,397 while benchmark 10 year yield was also back above 2% to close at 2.056%. The Dollar was taken higher against European majors and the Japanese yen whilst the dollar index surged for another week to close at 82.69.

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Transcript of "Weekly Forex News March 10th 2013"

  1. 1. Weekly Forex News March 10th 2013FCTOFX: Markets were dominated by strong equities, a strong dollar and aweak yen last week. Its clear that economic data from the US showedimpressive improvements in the US economy. Meanwhile, the top two Fedofficials, Bernanke and Yellen indicated recently the central bank wouldleave stimulus in place while data continues to show improvements. TheDOW Jones jumped to a new record high and closed strongly at 14,397 whilebenchmark 10 year yield was also back above 2% to close at 2.056%. TheDollar was taken higher against European majors and the Japanese yenwhilst the dollar index surged for another week to close at 82.69. View FCTOFX Live Trading @ http://bit.ly/W9RJWK
  2. 2. Weekly Forex News March 10th 2013Nonetheless the dollar was still bound in range against commodity currenciesand EUR/USD struggled to move away from the 1.3 psychological level. Yensweakness was indeed more broad based and one-sided: on expectation ofaggressive easing measures once Kuroda comes on board and holds his firstBank of Japan meeting in April. There were a number of central bankmeetings last week but: European Central Bank, Bank of England, ReserveBank of Australia and Bank of Japan meetings all failed to yield much impact.Bank of Canadas neutral stance looked set to trigger another round of selloffin the Canadian dollar but the Loonie was then saved by strong Canadian jobdata. View FCTOFX Live Trading @ http://bit.ly/W9RJWK
  3. 3. Weekly Forex News March 10th 2013In the US, the Non-farm payroll showed an impressive 236,000 growth in theUS employment market in February, much stronger than expectations of158,000. Januarys figure was revised down from 157 to 119,000 but that wasmore than offset by Februarys surprise gain. The unemployment rate alsodropped to a five year low of 7.7%, down from 7.9%. The ISM services Indexunexpectedly improved to 56 in February. The Fed’s Beige Book suggestedthat economic activity expanded at a "modest to moderate pace" with themajority of Districts reporting a "modest" improvement in labor marketconditions. Hiring plans were, however, "limited" in several Districts. Onconsumer spending, most Districts reported an expansion despite slowdownin several others. Manufacturing activities "modestly improved in mostregions" and residential real estate markets "strengthened in nearly allDistricts". View FCTOFX Live Trading @ http://bit.ly/W9RJWK
  4. 4. Weekly Forex News March 10th 2013Both the European Central Bank and the Bank of England left their monetarystance unchanged. European Central Bank President Draghi stated that heexpects the Eurozone should return to growth in 2014 with the forecastrange between 0 to 2% and inflation next year would range from 0.6% to 2%.The Bank of England announced to keep the Bank Rate at 0.5% and the assetpurchases at 375 Billion pounds. The committee only released a shortstatement and details of the discussion will not be fully disclosed untilrelease of the minutes on March 20th. View FCTOFX Live Trading @ http://bit.ly/W9RJWK
  5. 5. Weekly Forex News March 10th 2013The Current Bank of Japan governor held his last meeting and kept ratesunchanged at 0 to 0.1% by a unanimous vote. A board member proposedbringing forward open-ended Japanese Government Bond purchases but thatwas voted down by 8-1. Another board member proposed explicitly sayingthat the bank will keep rates near zero until hitting the 2% inflation targetbut that was also voted down by 8-1. These proposals were seen as layingdown the ground work for aggressive easing when Kuroda takes up the Bankof Japan governor role later in the month and there would likely be someeye-catching moves in Kurodas first meeting in April. Assessment of theeconomy was somewhat upgraded as the central bank said it appeared to"have hit bottom". View FCTOFX Live Trading @ http://bit.ly/W9RJWK
  6. 6. Weekly Forex News March 10th 2013The Bank of Canada left the overnight rate at 1%, with the Bank Rate at1.25% and the deposit rate at 0.75%. The policy statement was dovish aspolicymakers saw less urgency in a rate hike than previously thought. Thetone of the statement was similar to the previous one with the broad outlookfor the Canadian economy similar to Januarys. Policymakers expecteddomestic growth would gain momentum through 2013 amid betterhousehold spending and business investment and exports. The Canadiandollar jumped on Friday as the job market grew by 50,700 in Februarycompared to expectation of 7,800 while the unemployment rate wasunchanged at 7%. View FCTOFX Live Trading @ http://bit.ly/W9RJWK
  7. 7. Weekly Forex News March 10th 2013The Reserve Bank of Australia left the cash rate unchanged at 3% for a thirdconsecutive month in March. While the policy outlook would remainaccommodative, the central bank paused this month as recent economicdata suggested that Australias economic growth was close to trend with thehelp of an increase in resource sector investment. The central bankstatement showed few changes from the previous month, signaling thatpolicymakers were holding more or less the same views as last monthconcerning the economic outlook. The Aussie was supported by solid retailsales and GDP data.The Federal Budget Balance, US retail sales, Unemployment Claims andConsumer Sentiment are the main market movers in the week ahead, followwww.forexcurrencytradingonline.co.uk to keep track of all the forex newsaffecting the market this week. View FCTOFX Live Trading @ http://bit.ly/W9RJWK
  8. 8. Weekly Forex News March 10th 2013The new retail forex trading offering from Forex Currency Trading OnlineLtd., www.FCTOFX.com, has been developed out of the retail customer’sdesire to profit from managed Forex trading, without having their capitalheld, managed and controlled by an unknown or unregulated third-party.Our Forex trading software is fully adaptable to suit your risk profile, withdaily weekly and monthly maximum drawdowns set from just 1% to 25%. Wecurrently have 14 co-existing strategies, trading over 17 currency pairs,across all 3 trading sessions. This software system is designed to be fullyautomated, however is manually monitored 24 hours a day, being upgradedand modified to take full advantage of changing market conditions. For More Information: www.FCTOFX.com View FCTOFX Live Trading @ http://bit.ly/W9RJWK

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