CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Not much change in FX space

Article By: ,  Financial Analyst
July 12, 2012 9:00 AM

Our team of forex experts analyse the currency markets and offer their insights on which market-moving events are likely to impact the performance of some of the most popularly traded forex pairs in the UK, including GBP/USD, EUR/USD and USD/JPY.

 

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FX Market

Not much change in FX space with ‘Risk’ still showing signs of weakness as concerns on global growth persist adding strength to the $. The FOMC minutes released last night suggested that no new fresh accommodation will be added unless the Fed sees further deterioration in economic data.

The ‘Risk’ trade remains focused on global growth concerns with the near term gauge coming tonight in the way of the Chinese GDP data with a consensus forecast of 7.7% below the 8% level we have become accustomed to.

The AUD fell sharply overnight taking out stops below the 1.0200 following weaker employment data. The June payroll data dropped by -27,000 versus a consensus of flat with revisions from May being revised down to +27,900 from +38,900. The unemployment rate jumped from 5.1% to 5.2%.

The BoJ increased the asset purchase of T-bill by JPY5 trillion but decrease the same amount of fixed-rate fund, so net the total amount of asset purchase program was unchanged at JPY70 trillion.

The risk off theme continues to grind lower with option protection noted at the 1.2200 level in EUR/USD with stops noted below.

 

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