Thread: Forex News

Will Foreign Forex Brokers Get “Gambling” Classification
Forex Crunch

The new CFTC rules consist of 50:1 leverage decision as well as many other regulations for the industry. But there might be one big hidden rule: US clients won’t be able to open accounts with foreign brokers. This can be implemented by assigning the notorious 7995 credit card classification to foreign brokers – preventing American from depositing funds with foreign brokers. Here are the full details.

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SNB is backed into a forex corner
Financial times

The Swiss franc might be hovering near record highs against the euro, but the Swiss National Bank is unlikely to revert to direct intervention to stem the currency’s appreciation, says Chris Turner, head of FX strategy at ING.

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Dollar lower before Friday's key US jobs data
Associated Press

NEW YORK — The dollar fell against other major currencies Thursday ahead of a key U.S. jobs report. The euro rose after the European Central Bank raised its forecast for the region's growth.

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Dollar Held In Check Ahead Of Key Jobs Report
RTT News

(RTTNews) - The dollar was stuck in place versus other majors on Thursday as traders sifted through a pile of economic news ahead of tomorrow's pivotal monthly jobs report.

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Daily Foreign Exchange Market Summary -
IBTimes FX

The US dollar continues to weaken against a basket of currencies after mixed economic news. The Labor Department reported new claims for unemployment benefits fell last week to a seasonally adjusted 472,000 last week. Though unemployment benefits dropped for a second week in a row, the figures still remain too high to signal a change in fortune for the troubled labor market.

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Risk currencies firm on data surprises before job report
Reuters

By Hideyuki Sano

(Reuters) - The euro and high-yielding currencies held firm on Friday after an improvement in U.S. housing and jobless claims data bolstered investor appetite for risk ahead of key U.S. jobs data later in the day.

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ECB's Nowotny: no danger of double dip in Europe
Reuters

(Reuters) - Europe faces modest economic growth but no double dip back into recession, European Central Bank Governing Council member Ewald Nowotny said on Thursday.

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Euro Heads for Second Weekly Gain Versus Dollar Before Retail Sales Report
Bloomberg

By Yasuhiko Seki and Ron Harui

The euro headed for a second weekly gain versus the dollar before a European report that economists said will show retail sales rose for a third month, spurring demand for the region’s assets. \

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Dollar Heads for Two-Week Decline Versus Euro Amid Global Recovery Signs
Bloomberg

By Yasuhiko Seki

The dollar headed for a second- straight weekly drop versus the euro amid signs that the global recovery remains intact, sapping demand for the U.S. currency as a refuge.

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State solely responsible for dealing with Anglo cost - Trichet
IRISH TIMES

ARTHUR BEESLEY European Correspondent in Frankfurt

EUROPEAN CENTRAL Bank (ECB) chief Jean-Claude Trichet has said the Irish Government alone is responsible for dealing with the mounting costs of supporting the nationalised Anglo Irish Bank.

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