Forex Factory

Only a few days after controversial German proposals to install a budget commissioner in Greece, French President Nicolas Sarkozy and German Chancellor Angela Merkel suggested on Monday that if Greece secures a new bailout, the money it receives should be paid into a special account from which...

Another bank is paying millions to reimburse those $38 cups of coffee. J.P. Morgan Chase, the bank that now holds the most deposits in the country, has reached an agreement to pay $110 million to those who paid heavy fees for the proverbial “cup of coffee” that overdrafted their accounts. The set...

The AUD/USD rallied above last week’s 1.0683 range resistance before setting up 1.0750 area as the next range resistance, which was broken to the upside after the better than expected Non-Farm Payroll data from the US. This week, the market fails to sustain the rally, falling back to 1.0683 to test...

The Romanian prime minister and his cabinet have resigned after weeks of sometimes violent protests over widespread corruption and austerity measures. Emil Boc said on Monday he was quitting "to release the tension in the country's political and social situation". During his three-year rule, s...

Patience with Greece is wearing thin in Europe. On Monday, Chancellor Merkel became just the latest EU leader to demand quick action from Athens. But talks on additional austerity measures there continue to go nowhere despite the looming threat of bankruptcy. Greek politicians, after all, must...

Financiers outside mainland China have so far had few options about how to invest the tightly controlled Chinese currency. But as Beijing promotes the yuan, also known as the renminbi (RMB), as a truly international currency, it is starting to loosen its iron-clad grip. On Tuesday, E Fund Mana...

Papademos asks Finance ministry to prepare report on ramifications of a Greek default, according to the spokesman for the Socialist PASOK Party. The leaders of the political parties meet again tomorrow to try and come up with a deal that will appease the Troika and garner release of the second ba...

Latest headline from Merkel: There will be a second Greek bailout package only if there are sustainable finances. A minute ago she said there would be no Greek bankruptcy. Can’t have it both ways, Leibchin…

Here's a puzzle. We'd like your input on it. In a speech today (.pdf), St. Louis Fed President James Bullard argues against the notion of an "output gap." Specifically he slams the idea that the economy could or should be operating at anywhere near the level it was in 2007. This chunk of hi...

Merkel tells German TV: "We refuse to acknowledge Greek bankruptcy, we cannot accept that"

The EUR/CHF found support at 1.2030, above the “1.20 floor” that the SNB had pledged to support back in September 2011. Last week, the pair climbed above a declining channel in the 1H chart, but there was a throwback after testing the 200 hour SMA. Since then, the market has continued to anchor away...

The is some talk that a large order in USD/CHF from a US investment bank set off a chain reaction of stops on a low-liquidity day.

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The U.S. foreclosure crisis has risen to new heights. Atlanta’s 55-story Bank of America Plaza, the tallest tower in the Southeast, is set to be sold at an open outcry auction on the steps of the Fulton County Courthouse tomorrow after landlord BentleyForbes missed mortgage payments. It bought t...

Canadian finance minister Flaherty says Canadian government plans to issue a USD denominated global bond later this week the bond issue will provide funds to supplement, diversify Canada’s forex reserves and meet foreign currency needs

Following the endless collapse in the Baltic Dry, it was only a matter of time before the shipping industry one-upped the Chairsatan, and was the first to introduce, dum dum dum, negative rates. That's right: you are now paid to hire a ship. GLENCORE HIRES SHIP AT MINUS $2,000 A DAY, GMI SAYS GM...

The Standard & Poor’s 500 Index’s best start in 25 years is doing little to restore Americans’ confidence in the stock market. ...

The FOMC Sets an Inflation Target At the January meeting, the Federal Open Market Committee (FOMC) took an important step forward by naming an explicit, numerical inflation target for the U.S. of 2 percent, as measured by the personal consumption expenditures (PCE) price index. In taking this ...

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