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Forex

  • Peter Schiff - Congress Avoids the Cliff by Selling Us Down the River Peter Schiff - Congress Avoids the Cliff by Selling Us Down the River

    January 03 2013 1:09 PM ET

    With the possible exception of the New York Times' editorial board (and the cast of The Jersey Shore), everyone on the planet understood that the United States Government needs to cut spending, increase taxes, or both. Instead, after months of political posturing and hand wringing, the Federal Government has just delivered the exact opposite, a deal that increases spending and decreases taxes. The move lays bare the emptiness of budget legislation, which can be dismantled far easier than it can be constructed.

  • Euro Sinks On Manufacturing Data Euro Sinks On Manufacturing Data

    January 03 2013 9:19 AM ET

    The euro turned downward on Thursday morning, trading at 1.3140. The fall is attributed to new manufacturing data out on Monday that seemed to confirm sentiments that the eurozone was in for a troubling year.

  • Peter Schiff - TREASURY'S LAST PILLAR CRUMBLES Peter Schiff - TREASURY'S LAST PILLAR CRUMBLES

    January 03 2013 9:10 AM ET

    With the return of Shinzo Abe and his Liberal Democratic Party to power in Japan, the market for US Treasuries may be losing its last external pillar of support. Re-elected on September 26th, Abe has quickly set a course for limitless inflation, saying Japan must "free itself from deflation and the strong yen." This is significant to the global economy as Japan is the largest foreign power left with a strong appetite for US Treasuries. If this demand falters, the Fed may be the only remaining buyer of new Treasury issuance.

  • 3/1/2013 - The Current Market Sentiment 3/1/2013 - The Current Market Sentiment

    January 03 2013 5:59 AM ET

    XAUUSD could add to its gains versus the greenback trying for heading to 1700$ per ounce as the reached deal for averting the fiscal cliff in US could put pressure on the US dollar as the investors looked again for risky assets pushing up the US blue ships in the first session of the year supporting the gold in the same time as there was no withdrawing liquidity out from the economy for restoring the financial position in US showing inflation upside risks offering defensive place for the greenback again.

  • 2013 Expected to be a Difficult Year in the Eurozone 2013 Expected to be a Difficult Year in the Eurozone

    January 02 2013 8:58 AM ET

    The euro soared on Wednesday morning, trading at 1.3270. When the US reached a fiscal cliff deal at the last minute, markets turned and risk appetite increased. The euro gained against the dollar as investors switched their money from the dollar to riskier currencies like the euro. The fiscal cliff drove prices up, but as the eurozone moved into 2013, many wondered whether the common currency's recent positive streak would continue. German Chancellor Angela Merkel advised in her New Years address that things would get worse in 2013 before they got better, a sentiment European Central Bank President Mario Draghi expressed earlier in 2012.

  • Washington Squanders its Gift of Time Washington Squanders its Gift of Time

    January 01 2013 5:18 PM ET

    As the clock winds down on 2012, the Fiscal Cliff is all anyone seems capable of discussing. Right now it appears that some sort of narrow deal has just emerged that will include raising tax rates on family income over $450,000 a year, increasing the estate tax rate, extending unemployment benefits for one year, and delaying spending cuts. But the prospect of higher taxes and the great uncertainty that has surrounded this fiscal fiasco has been acting like sand in the gears of the complex but sputtering U.S. economy. If additional taxes are not matched by real cuts in government spending, the economically crippling tax increases will serve merely to increase the size and intrusive power of big government. In other words, the pain will yield no gain.

  • Euro Holds Steady on U.S. Fiscal Cliff Talks Euro Holds Steady on U.S. Fiscal Cliff Talks

    December 28 2012 9:51 AM ET

    The euro traded at 1.3194 on Friday morning as investors waited for the outcome of a last minute meeting in Washington, where President Obama is set to meet with both democratic and republican lawmakers about the impending fiscal cliff. The uncertainty surrounding the US fiscal cliff has weighed on risky currencies and added to uncertainty about the common currency.

  • Yen hits fresh two-year low and seen staying weak Yen hits fresh two-year low and seen staying weak

    December 28 2012 5:00 AM ET

    The yen fell to its lowest in more than two years versus the dollar on Friday, weighed down by expectations the new Japanese government will push the Bank of Japan to ease monetary policy further. The Japanese currency's unabated slide, since Shinzo Abe took the helm as Japan's prime minister on Wednesday, has seen it hit fresh two-year lows for three days in succession. Abe has vowed to press for aggressive monetary stimulus to fight deflation.

  • Euro Steady As Investors Eye Italian Elections Euro Steady As Investors Eye Italian Elections

    December 27 2012 8:54 AM ET

    The euro traded at 1.3227 on Thursday morning as confidence in the eurozone continued to bolster the prices. The common currency has been trading above $1.30 consistently since the restructuring and approval of Greece's aid package.

  • Dysfunctional D.C. Leans on Fed's Printing Press Dysfunctional D.C. Leans on Fed's Printing Press

    December 26 2012 9:29 AM ET

    It should now be clear to all Americans that our government is completely incapable of voluntarily reducing our fundamental problem of excess debt. The inability of Washington D.C. to address spending, even under the duress of a legal obligation to do so, is flagrantly obvious.

  • Euro Saw Little Change After the Christmas Holiday Euro Saw Little Change After the Christmas Holiday

    December 26 2012 9:05 AM ET

    The euro traded at $1.3181 on Wednesday morning. The common currency saw little change after markets were closed on Tuesday for the holidays. The eurozone financial crisis seems to have settled since Greece's bailout was restructured and accepted by the region's lawmakers. However, the current political trouble in Italy and uncertainty in Spain have remained to remind investors that the region is far from being in the clear.

  • The Fiscal Cliff: Don’t Panic, It’s Only Improbable The Fiscal Cliff: Don’t Panic, It’s Only Improbable

    December 23 2012 4:30 PM ET

    On Thursday evening, the House of Representatives cancelled their vote on Speaker John Boehner’s (R-Ohio) “Plan B” solution to the fiscal cliff. Boehner was unable to gather the necessary support from his party because of the tax rate increase on Americans earning over $1 million per year that was part of the proposal.

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