Forex Investment and Currency Trading

In December 1971, the Group of Ten met at the Smithsonian Institution in Washington, D.C., and created the Smithsonian Agreement, which devalued the dollar to $38 per ounce with trading allowed up to 2.25 percent above or below that value. Dollars could not be used to convert directly to gold. Instead, the Group of Ten [...]

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Eurozone Higher than expected CPI estimates for the Eurozone and Italy, both at 4.0% yoy in June and up from 3.7% in May, play in the hands of the hawks on the ECB Governing Council. We need to wait for the second estimate to know if core inflation has accelerated noticeably, or if the rise [...]

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The USD gained a stunning 5.3% versus the Colombian peso (COP) last Thursday, largely on the heels of remarks by President Uribe that the government is working to stem the gains in the COP and create a more ‘competitive’ peso. The movement of the currency reflects more than Presidential rhetoric and the drop in the [...]

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