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G7 releases statement removing doubts about currency wars

by Adib Istanboulion February 12, 2013 1:25 pm BST
The G7 Finance Ministers and Central bank Governors released a joint statement today stating that they would not indulge in currency wars and will avoid devaluing their exchange rates in order to strengthen their economies. The statement came after concerns over Japan’s weak currency which was thought to be a result of trying to devalue […]

Yen drops on stimulus expectations, Euro recovers from lows

by Adib Istanboulion February 12, 2013 9:49 am BST
UK inflation data is expected to release today at 0930 GMT at 2.7% (YoY) (prev. 2.7% (YoY)) and -0.5% (MoM) (prev. 0.5 %( MoM)) while house price index dropped 4% (prev. -1%, exp. 1%) which saw the GBPUSD dropping to lows of 1.5602 from highs of 1.5845. The BOE is set to release inflation and […]

Weekly Report Feb 11: Investors await G20 meeting, EUR to remain weak

by Adib Istanboulion February 10, 2013 10:41 pm BST
The currencies could continue the trend it followed last week with the EURUSD, AUDUSD, USDJPY continue to decline while GBPUSD posts new highs. EURUSD dropped to lows of 1.3365 at end of last week’s trading after ECB President Draghi commented on the excess strength of the currency which could hamper growth prospects and there could […]

US trade deficit narrows by 20%

by Adib Istanboulion February 8, 2013 3:16 pm BST
The only major news from the US today, trade balance was released earlier before the open of the US session, showed that the trade deficit narrowed to $38.5 Billion, shrinking more than expected from a deficit of $48.61 Billion a month back. The better results were owed to petroleum exports rising much more than imports, […]