Archive | forex

China forex move 1st of many – Greenspan

The change in China’s exchange rate regime announced Thursday is just the first of many adjustments, predicted Federal Reserve chief Alan Greenspan. “I look at it as a first step in a number of further adjustments as they invariably increase their participation in the world trading markets. And so I think it’s a good start,” […]

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Trade Data Returns to the Forefront

by Ezechiel Copic – After having absorbed the most recent interest rate decisions, the focus of the market turns to the topic of trade with the US trade balance for May due out on Wednesday and the US Treasury’s TICS data due out July 18. With oil prices rising, there is a distinct possibility that […]

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Most of the currency oracles foresee a lower dollar

By Sam Holmes – The Australian dollar is expected to lose steam in the new financial year as commodity prices fall to more realistic levels. Economists and currency experts have disparate views on where the dollar will be this time next year but most agree the market is unlikely to see the heights of 2004-05 […]

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Euro holds ground despite political turmoil

By Steve Johnson – The euro held its ground on Monday in spite of mounting political turmoil across the eurozone. Gerhard Schröder, the German chancellor, called for an early general election after seeing his Social Democratic party suffer a crushing defeat in its erstwhile stronghold of North-Rhine Westphalia, Germany’s most populous state. (more…)

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ABN AMRO joins China forex market

BEIJING, May 19 — ABN AMRO yesterday became one of the first international firms to enter China’s interbank foreign exchange trading market by signing an agreement with the China Foreign Exchange Trade System (CFETS). ABN AMRO can now provide competitive executable prices to clients on China’s ground-breaking CFETS, a subsidiary of the People’s Bank of […]

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Foreign exchange trade in China surges

Xinhua – April saw dynamic trade on the inter-bank foreign exchange market in China, with a robust month-on-month growth of 40 percent in average daily transaction volume, which reached US$1.282 billion. According to the Shanghai-based national forex swap center, turnover of the US dollar, the Japanese yen, the HK dollar and the euro, amounted to […]

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Deutsche Bank is largest forex house in the World

Deutsche Bank has become the largest foreign exchange trading bank in Asia, and the world, according to a major global market share survey undertaken by respected capital markets magazine, Euromoney. The Euromoney’s 2005 survey gathered information from nearly 4,500 wholesale foreign exchange clients globally, including corporate treasurers and fund managers. According to the results, Deutsche […]

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BM&F’s Board of Governors approves spot dollar pit

BM&F’s Board of Governors approved on February, 16th the implementation of the spot dollar pit at the Exchange’s trading floor. The model that was accepted by the Board of Governors is a negotiation system linked directly to BM&F’s Foreign Exchange Clearinghouse. This initiative complements the product offers related to foreign exchange at BM&F – the […]

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Online forex trading seen soaring by 2007 – U.S. study

NEW YORK (Reuters) – Foreign exchange trading through Internet-based or electronic systems is expected to grow sharply by 2007, according to a study released on Wednesday by research firm Celent Communications. Electronic currency trading is split between the dealer-to-client segment, where banks trade with institutional customers, and the interbank market, where banks trade with each […]

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