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Forex

Positive Greek News Leads to Boost in Risk Taking
2012-02-10 08:00:00
Source: ForexYard Positive Greek News Leads to Boost in Risk Taking The euro had a bullish day yesterday, after news was released that Greece had reached an austerity deal led to a spike in risk taking. The EUR/USD spent much of the day at or above the 1.3300 level after dropping to 1.3220 a day earlier. Today, traders will want to continue monitoring any announcements out of the euro-zone as they are likely to give clues as to where the markets will be heading. In addition, trade balance reports from both the US and Canada are likely to generate market volatility. Economic News USD – USD Retreats vs. Riskier Currencies, Sees Gains against JPY The US dollar . . . → Read More: Positive Greek News Leads to Boost in Risk Taking
UK, Euro-Zone Interest Rate Decisions Set to Impact Markets
2012-02-09 09:30:00
Source: ForexYard UK, Euro-Zone Interest Rate Decisions Set to Impact Markets The EUR/USD spent much of yesterday range trading, as investors were fearful of opening fresh buy positions ahead of possible Greek news. The market place is not forecasted to be nearly as quiet today, as euro-zone and British interest rate decisions and press conferences are forecasted to generate significant volatility. Should any of the news turn out to be negative, investors are likely to revert back to safe-haven assets which could cause the euro and GBP to drop. Economic News USD – US Unemployment Claims may Boost Dollar The US dollar spent much of the day yesterday range trading against most of its main currency rivals, including . . . → Read More: UK, Euro-Zone Interest Rate Decisions Set to Impact Markets
EU Debt Crisis Continues to Fuel Risk Aversion
2012-02-08 08:09:00
Source: ForexYard EU Debt Crisis Continues to Fuel Risk Aversion The euro-zone debt crisis continued to fuel risk aversion in the market place yesterday, as poor news briefly brought the EUR/USD pair below the 1.3100 level. The pair staged a recovery later in the European session, after it was revealed that Greek leaders had begun finalizing a debt swap deal. Today, traders will want to continue monitoring the euro-zone situation, especially as it is becoming clear that Portugal will soon need a bailout to avoid defaulting on its debt. Economic News USD – USD/JPY Continues to Make Gains The US dollar extended its recent bullish run on the Japanese yen yesterday, with the pair reaching as high as . . . → Read More: EU Debt Crisis Continues to Fuel Risk Aversion
Lack of Greek Deal Sends EUR Tumbling
2012-02-07 10:10:00
Source: ForexYard Lack of Greek Deal Sends EUR Tumbling The euro was largely bearish yesterday, after Greece once again failed to come to an agreement with its creditors to restructure its debt. Losses were seen against most of its main currency rivals, including the US dollar, Japanese yen and British pound. Today, in addition to any euro-zone developments that may occur, traders will want to pay attention to a speech from the US Fed Chairman at 15:00 GMT. Any positive statements could help the USD extend its recent bullish trend. Economic News USD – Dollar Remains Bullish to Start off Week The US dollar was able to extend the boost it received late last week during trading yesterday, . . . → Read More: Lack of Greek Deal Sends EUR Tumbling
Positive Jobs Report Boosts USD
2012-02-06 08:06:00
Source: ForexYard Positive Jobs Report Boosts USD The USD saw gains across the board on Friday, following a significantly better than expected US Non-Farm Payrolls figure that helped boost confidence in the US economic recovery. Perhaps most significantly, the USD/JPY came off its recent three-month low. The news calmed fears that the Bank of Japan would soon intervene to limit yen growth. This week, Greece is likely to be back in the headlines as investors eagerly await news of a possible debt-swap deal. Any positive developments are likely to help riskier currencies like the euro and Australian dollar. Economic News USD – USD/JPY Comes off Three-Month Low Following Jobs Report The better than expected US Non-Farm Payrolls . . . → Read More: Positive Jobs Report Boosts USD
US Non-Farm Payrolls Set to Generate Heavy Volatility
2012-02-03 08:13:00
Source: ForexYard US Non-Farm Payrolls Set to Generate Heavy Volatility Today's US Non-Farm Payrolls figure, widely considered the most significant economic indicator on the forex calendar, is set to generate heavy trading today. At the moment, analysts are predicting that the US added somewhere around 150K jobs in January. Should the final result come in below expectations the USD may come under renewed pressure to close out the week. Economic News USD – Negative Euro-Zone News Gives USD Temporary Boost Fresh concerns regarding Greece's debt negotiations sent investors to safe-haven assets during the beginning of yesterday's trading session. The news resulted in the US dollar recouping some of its recent losses against the euro. The EUR/USD dropped . . . → Read More: US Non-Farm Payrolls Set to Generate Heavy Volatility
USD/JPY Hits 3-Month Low amid Poor US News
2012-02-02 08:08:00
Source: ForexYard USD/JPY Hits 3-Month Low amid Poor US News The USD/JPY hit a fresh 3-month low today, as worse than expected news out of the US continued to weigh down on the pair. Rumors have begun circulating that the Bank of Japan (BOJ) may soon intervene in the currency market to limit yen growth. Today, traders will want to once again monitor US economic indicators. Specifically, the weekly US Unemployment Claims figure and a testimony from the Fed Chairman are likely to create market volatility. Economic News USD – Dollar Continues to Tumble against Main Currency Rivals The combination of better than expected euro-zone news and a poor US ADP Non-Farm Employment Change figure caused the . . . → Read More: USD/JPY Hits 3-Month Low amid Poor US News
EUR Bullish After EU Bailout-Fund Agreement
2012-02-01 08:19:00
Source: ForexYard EUR Bullish After EU Bailout-Fund Agreement The euro staged a small but significant upward correction during European trading yesterday, following an agreement among euro-zone leaders to set up a permanent bailout fund. The news briefly lifted the EUR/USD above the 1.3200 level, but the pair was not able to sustain its bullish momentum and began falling shortly after. Today, traders can expect heavy volatility in the marketplace ahead of the US ADP Non-Farm Employment Change at 13:15 GMT. A better than expected figure could help the USD in afternoon trading. Economic News USD – USD Takes Losses amid Positive Euro-Zone News The US dollar slipped against its main currency rivals throughout the day yesterday, following positive . . . → Read More: EUR Bullish After EU Bailout-Fund Agreement
Lack of Greek Debt Deal Sends EUR Tumbling
2012-01-31 11:17:00
Source: ForexYard Lack of Greek Debt Deal Sends EUR Tumbling After reaching a six-week high against the US dollar in early trading yesterday, the euro staged a downward correction after Greece once again failed to come to an agreement with its creditors regarding its debt. Today, traders will want to continue monitoring announcements out of the euro-zone, with any further negative news likely to bring the common currency further down. Additionally, economic indicators out of both Germany and France are likely to influence euro pairs today. Economic News USD – Dollar Stages Upward Correction Following Poor Euro-Zone News The USD came off a six-week low against the euro in trading yesterday, after news that Greece had once . . . → Read More: Lack of Greek Debt Deal Sends EUR Tumbling
USD Bearish Ahead of Heavy Trading Week
2012-01-30 09:04:00
Source: ForexYard USD Bearish Ahead of Heavy Trading Week The US dollar closed last week on a bearish note, as it took significant losses against most of its main currency rivals, including the euro and Japanese yen. The dollar began to decline during the middle of the week, following an announcement from the Fed saying that record low US interest rates would likely remain for the next several years. A softer than expected US Advanced GDP figure on Friday only caused the currency to drop further. This week, all eyes will be on the US Non-Farm Payrolls figure. Should the figure come in below expectations, the dollar will likely extend its bearish trend. Economic News USD – . . . → Read More: USD Bearish Ahead of Heavy Trading Week
EUR Bullish as Investors Shift Focus to Fed Decision
2012-01-27 08:04:00
Source: ForexYard EUR Bullish as Investors Shift Focus to Fed Decision The euro staged a strong upward correction throughout the day yesterday, as investors shifted focus away from the euro-zone crisis to a recent decision from the US Federal Reserve. The Fed announced earlier in the week that US interest rates would remain at their current levels for at least the next two years. The news brought the EUR/USD to a five-week high, at 1.3175. Today, traders will want to pay attention to the US Advance GDP figure. A positive reading may give the USD a temporary boost to close out the week. Economic News USD – Fed Decision Turns USD Bearish The US dollar turned overwhelmingly bearish . . . → Read More: EUR Bullish as Investors Shift Focus to Fed Decision
Yen Tumbles Following Negative Japanese News
2012-01-26 08:00:00
Source: ForexYard Yen Tumbles Following Negative Japanese News News that Japan logged its first annual trade deficit in over 30 years sent the JPY tumbling during yesterday's trading session. The USD/JPY shot up well over 100 pips, reaching above the 78.00 level. Meanwhile the EUR/JPY extended its bullish trend before staging a downward correction toward the end of the European session. Today, a batch of US news is forecasted to generate market volatility. Traders will want to pay particular attention to the US Unemployment Claims figure, as it will be an important gauge of the US economic recovery. Economic News USD – USD Turns Bullish Following EU News The US dollar had a particularly strong day yesterday following . . . → Read More: Yen Tumbles Following Negative Japanese News
EUR Reverses Gains despite Strong Manufacturing Data
2012-01-25 14:30:00
Source: ForexYard EUR Reverses Gains despite Strong Manufacturing Data The euro turned bearish once again in trading yesterday, as investors continued to revert back to safe-haven currencies following the rejection of Greece's debt swap deal. Positive manufacturing numbers from much of the euro-zone were shrugged off, as fears of further fallout from the region's debt crisis continue to dominate market sentiment. Today, traders will want to focus on US data, particularly the FOMC Statement, as it is likely to dictate the direction the market takes. Economic News USD – Dollar up Following Increase in Risk Aversion Fresh concerns over the euro-zone debt crisis caused investors to revert back to safe-haven currencies yesterday, which led to the USD . . . → Read More: EUR Reverses Gains despite Strong Manufacturing Data
EUR Extends Gains against Main Currency Rivals
2012-01-24 08:07:00
Source: ForexYard EUR Extends Gains against Main Currency Rivals Following yesterday's bullish run for the euro, the currency will attempt to extend its gains in trading today. Investor confidence in the euro steadily increased throughout the day yesterday, as details of a Greek deal to restructure its debt were released. Should confidence in the euro-zone recovery continue, the common currency may be able to prolong its bullish movement in the coming days. Economic News USD – Greenback Bearish Ahead of Fed Meeting Following the losses the US dollar took during the European trading session yesterday, investors will be eagerly watching for news out of the two-day Federal Reserve Policy Meeting scheduled to start today. The USD started . . . → Read More: EUR Extends Gains against Main Currency Rivals
Investors Eagerly Awaiting News of Greek Debt-Swap Deal
2012-01-23 08:43:00
Source: ForexYard Investors Eagerly Awaiting News of Greek Debt-Swap Deal While the euro saw some upward momentum in trading last week, the real test of the currency's strength will be today, as news of a possible deal on Greek debt is announced. Traders will want to pay close attention to the planned meeting of euro-zone finance ministers scheduled for later in the day. If Greece successfully reaches a deal with its creditors regarding its debt before the meeting, the euro may receive a significant boost in afternoon trading. Economic News USD – Dollar Likely to See Significant Movement in Heavy News Week The US dollar took some pretty significant losses against its main currency rivals last week, . . . → Read More: Investors Eagerly Awaiting News of Greek Debt-Swap Deal
EUR Rallies Following Positive Global Data
2012-01-20 14:30:00
Source: ForexYard EUR Rallies Following Positive Global Data The euro was largely up during yesterday's trading session, as positive global data led to risk taking among traders. A successful Spanish debt auction combined with a lower than forecasted US Unemployment Claims were largely responsible for the euro's bullish trend. That being said, analysts are warning that the overall trend for the common currency is still down and that considerably better euro-zone news is needed before a meaningful reversal will take place. Economic News USD – USD Gains vs. JPY Following Unemployment Report The US dollar saw substantial gains against several of its main currency rivals yesterday, following a better than expected US Unemployment Claims figure. The weekly . . . → Read More: EUR Rallies Following Positive Global Data
Positive News Out of the IMF Boosts EUR
2012-01-19 08:23:00
Source: ForexYard Positive News Out of the IMF Boosts EUR The euro saw some steady gains in trading yesterday, as news was released that the IMF would increase its lending capacity in order to limit the effects of the euro-zone debt crisis. While the news helped boost riskier currencies, analysts were quick to warn that there are still plenty of unknowns with regards to the European crisis that could still sink the common currency lower. Economic News USD – USD Weakens Amid Risk Taking The US dollar took some losses against the majors yesterday, following news that the IMF would expand lending to help stave off the negative effects of the euro-zone debt crisis. As a result . . . → Read More: Positive News Out of the IMF Boosts EUR
Better Than Expected German Data Turns EUR Bullish
2012-01-18 08:12:00
Source: ForexYard Better Than Expected German Data Turns EUR Bullish Positive Chinese and German economic indicators led to some bullish movement for the euro during mid-day trading yesterday. That being said, the gains were for the most part short-lived, as the common currency once again began moving downward by the evening session. Today, traders will want to pay attention to a batch of British and US indicators that are likely to generate market volatility. Economic News USD – USD Moves Downward Following Increase in Risk Taking The USD saw bearish movement against many of its main currency rivals yesterday, as a positive Chinese GDP number combined with a better than expected German economic sentiment figure drove investors toward . . . → Read More: Better Than Expected German Data Turns EUR Bullish
EUR Continues to Tumble amid Fresh Euro-Zone Worries
2012-01-17 08:27:00
Source: ForexYard EUR Continues to Tumble amid Fresh Euro-Zone Worries The euro started off the week by extending its bearish run, as traders continued to short the currency after last Friday's credit downgrade of several euro-zone countries. News that talks regarding a Greek debt swap deal broke down only increased fears regarding the prospects of a solution to the euro-zone crisis. Economic News USD – USD Approaches 17-Month High vs. Euro in Slow Trading Day Traders continued to short the euro in favour of the US dollar on Monday, as fresh euro-zone worries boosted safe-haven assets. Trading was somewhat light yesterday, as US markets were closed for a bank holiday. Still, the EUR/USD extended its bearish . . . → Read More: EUR Continues to Tumble amid Fresh Euro-Zone Worries
EUR Sees Gains Following Spanish Bond Auction
2012-01-13 08:50:00
Source: ForexYard EUR Sees Gains Following Spanish Bond Auction The euro pared recent losses against its main currency rivals on Thursday, following a successful Spanish bond auction. The EUR/USD climbed well above the 1.2700 level, while the EUR/JPY saw steady gains throughout the day. Today, US news is forecasted to generate some market volatility. Traders will want to pay attention to the US Trade Balance and Prelim UoM Consumer Sentiment figures for clues as to what direction the markets will take to close out the week. Economic News USD – Dollar Stages Downward Correction against Euro The EUR/USD turned bullish on Thursday, as the combination of a successful Spanish bond auction and the European Central Bank's decision not . . . → Read More: EUR Sees Gains Following Spanish Bond Auction
EUR Once Again Bearish Ahead of Debt Auctions
2012-01-12 08:41:00
Source: ForexYard EUR Once Again Bearish Ahead of Debt Auctions Ahead of a key European interest rate announcement scheduled for later today, the EUR once again has turned bearish following comments from a from a leading credit agency which highlighted just how vulnerable the currency is. With Spanish and Italian debt auctions scheduled to close out the week, traders can count on heavy volatility throughout the day today. Economic News USD – Return to Safe-Havens Turns USD Bullish The US dollar recouped many of its losses from earlier in the week yesterday, as traders once again abandoned riskier assets in favor of safe-haven currencies like the greenback. The move brought the EUR/USD just shy of its 16-month low, . . . → Read More: EUR Once Again Bearish Ahead of Debt Auctions
EUR Sees Mild Gains in Slow News Day
2012-01-11 08:43:00
Source: ForexYard EUR Sees Mild Gains in Slow News Day Riskier currencies like the euro saw mild gains in trading on Tuesday, as investors eagerly await euro-zone news set to be released on Thursday and Friday. Debt auctions from Italy and Spain, as well as the European Central Bank's interest rate decision are forecasted to generate heavy volatility for the rest of the week. Economic News USD – USD Falls against Riskier Currencies The US dollar took slight losses against most of its main currency rivals on Tuesday, as investors continue to unload some of their short USD positions following an increase in risk-taking. This is largely due to meetings between European leaders which many are hoping . . . → Read More: EUR Sees Mild Gains in Slow News Day
EUR Remains Vulnerable Following Small Gains Monday
2012-01-10 14:30:00
Source: ForexYard EUR Remains Vulnerable Following Small Gains Monday Despite the small gains made by the euro in trading yesterday, analysts are quick to warn that the common currency still has room to fall if negative news continues to be released from the euro-zone. While there is a light news day today, traders will still want to watch out for any developments from the meetings between France and Germany which could affect euro pairs. Economic News USD – USD Takes Slight Losses but Remains Bullish Overall The US dollar took slight losses against its main currency rivals throughout the trading day on Monday, as fears that the dollar was becoming too strong dominated market sentiment. The EUR/USD came . . . → Read More: EUR Remains Vulnerable Following Small Gains Monday
Paid to post forex forum
2012-01-07 11:12:00
It is a online forum related to forex and online trading. Members are rewarded for every post or comment on the forum. On average, the reward is $0.20 per post/comment
Passive Income from Forex UWC
2012-01-07 11:12:00
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EUR Tumbles Ahead of Non-Farm Data
2012-01-06 08:35:00
Source: ForexYard EUR Tumbles Ahead of Non-Farm Data The euro saw heavy bearish movement throughout the day yesterday despite positive US data which typically helps the currency. Euro-zone debt worries continue to send investors away from riskier assets. Whether today's US Non-Farm Payrolls can give the euro a boost to close out the week is still unknown. Economic News USD – Positive US Jobs Report Turns USD Bullish The US dollar had a very bullish day yesterday, following a better than expected ADP Non-Farm Payrolls figure and Unemployment Claims report. Gains were made against the euro, British pound and Japanese yen. The EUR/USD fell to an 11-month low, while the USD/JPY shot up past the 77.00 level. The . . . → Read More: EUR Tumbles Ahead of Non-Farm Data
EUR Corrects Itself Following German Debt Auction
2012-01-05 08:27:00
Source: ForexYard EUR Corrects Itself Following German Debt Auction The euro staged a downward reversal yesterday, following a German debt auction that caused investors to once again place their funds in safe-haven assets. Today, traders will want to pay attention as major market volatility is expected following news events from the UK, US and Canada. Economic News USD – USD Rebounds Following Return to Safe-Haven Assets The US dollar had a very bullish day yesterday, following a less than enthusiastic German debt auction which sent investors back toward safe-haven assets like the USD and CHF. The dollar saw upward movement against many of its main currency rivals, particularly the euro and UK pound. The EUR/USD tumbled well . . . → Read More: EUR Corrects Itself Following German Debt Auction
Riskier Assets Turn Bullish Following Positive British Data
2012-01-04 07:57:00
Source: ForexYard Riskier Assets Turn Bullish Following Positive British Data Riskier currencies like the euro and UK pound turned bullish yesterday, following the release of the British manufacturing PMI in morning trading. Meanwhile, the price of crude oil is steadily rising as tensions between the US and Iran continues to generate supply side fears. Economic News USD – USD Moves Downward as Investors Move to Riskier Currencies The US dollar saw a largely bearish day yesterday, as positive economic data out of Europe generated risk taking among investors. The safe-haven greenback took losses against most of its main currency rivals, including the euro and GBP. The EUR/USD once again shot up above the psychologically significant 1.3000 level, while . . . → Read More: Riskier Assets Turn Bullish Following Positive British Data
EUR/JPY Hits 10-Year Low to start off the New Year
2012-01-03 08:24:00
Source: ForexYard EUR/JPY Hits 10-Year Low to start off the New Year Concerns over the euro-zone debt crisis pushed the common currency to new lows yesterday during the first trading day of 2012. The EUR/JPY fell as low as 98.71, a 10-year low for the pair. Today, traders will want to pay attention to several leading indicators which are likely to inject some volatility into the marketplace. Economic News USD – Non-Farm Payrolls Set to Impact USD this Week. With most markets closed on Monday, the USD started off the week showing very little movement against its main currency rivals. That is all set to change as a series of leading indicators are set to be released throughout . . . → Read More: EUR/JPY Hits 10-Year Low to start off the New Year
2012 Preview (Continued) ? Examining the Major Issues
2012-01-02 08:39:00
Source: ForexYard 2012 Preview (Continued) – Examining the Major Issues As we approach New Years we'll attempt to address the major issues for 2012. Economic News CAD – Loose BoC Monetary Policy to Weigh on CAD A worsening global economic background does not bode well for the CAD. Economists have begun to downgrade their 2012 Canadian outlook and GDP forecasts as the gloom from Europe spills over into Canada. This hints that the BoC will loosen monetary policy in Q2 as events outside of Canada begin to influence the local macroeconomic outlook. Continued declines in commodity prices may also have a negative effect on the CAD. Since its peak in April the Thomson Reuters/Jefferies CRB Commodity Index has . . . → Read More: 2012 Preview (Continued) – Examining the Major Issues
2012 Preview ? Examining the Major Issues
2011-12-30 08:26:00
Source: ForexYard 2012 Preview – Examining the Major Issues As we approach New Years we'll attempt to address the major issues for 2012. Economic News EUR – When will Congress Address the US Deficit and Debt? Could this be the year that Congress finally tackles the difficult issues to reduce spending and lower the national debt? The Congress just recently acted to renew the payroll tax break in a last minute deal, a method that Washington has seemingly perfected. Most likely Congress will kick the can down the road as they are unwilling to take on the big issues of social benefits heading into an election year. If the trend of improving US fundamentals continues then a return . . . → Read More: 2012 Preview – Examining the Major Issues
US Data to Close out the Year on a High Note
2011-12-29 08:56:00
Source: ForexYard US Data to Close out the Year on a High Note There has been a noticeable trend of stronger US economic data over Q4. Today's last batch of US numbers for this year may show the US economy go into 2012 on a high note. Economic News USD – US Data to Close out the Year on a High Note There has been a noticeable trend of stronger US economic data over Q4. Today's last batch of US numbers for this year may show the US economy go into 2012 on a high note. This afternoon we'll get pending home sales, unemployment claims, and the Chicago PMI. Last week's housing data was mixed with existing home . . . → Read More: US Data to Close out the Year on a High Note
Euro Hovers around 11-Month Low against USD
2011-12-28 07:59:00
Source: ForexYard Euro Hovers around 11-Month Low against USD Low liquidity in the marketplace kept the euro relatively unchanged in trading yesterday. With the currency currently hovering close to an 11-month low versus the US dollar, traders are waiting to see if ongoing the euro-zone debt crisis will bring it down any lower. Economic News USD – Dollar Takes Light Losses in Thin Trading Day The US dollar registered mild losses against most of its main currency rivals in trading yesterday, as the lack of significant news combined with low liquidity in the marketplace resulted in an uneventful session. That being said, rumors that the Fed may consider another round of quantitative easing next year has put pressure . . . → Read More: Euro Hovers around 11-Month Low against USD
Increasing Expectations for Weaker ECB Monetary Policy
2011-12-27 08:23:00
Source: ForexYard Increasing Expectations for Weaker ECB Monetary Policy Investors have long been pricing in additional QE from the Fed and the BoE. Now it appear the ECB is managing expectations for a looser monetary policy. Economic News USD – US Data and Europe Drive Markets to the Year End Close During this shortened week liquidity may remain tight as many market players stay on the sidelines. However, US data releases and events in Europe may keep volatility higher than normal. Today we get releases of US consumer confidence and housing prices. On Thursday the Chicago PMI and pending home sales will be the final US data release of 2011. Last week equity markets rallied into the weekend . . . → Read More: Increasing Expectations for Weaker ECB Monetary Policy
ECB Sounds More Open to the Idea of QE
2011-12-26 09:49:00
Source: ForexYard ECB Sounds More Open to the Idea of QE Comments by Lorenzo Bini Smaghi is the first sign of the ECB's willingness to consider quantitative easing (QE) should the need arise. Economic News EUR – ECB Sounds More Open to the Idea of QE In an interview with the Financial Times ECB executive board member Lorenzo Bini Smaghi suggests more goes on behind the closed doors during an ECB meeting than we have imagined. Smaghi said, ?I do not understand the quasi-religious discussions about quantitative easing.? At this time the ECB does not forecast deflation, ?But if conditions changed ? I would see no reason why such an instrument, tailor-made for the specific characteristics of the . . . → Read More: ECB Sounds More Open to the Idea of QE
Euro Continues to Struggle as Debt Concerns Loom
2011-12-23 09:05:00
Source: ForexYard Euro Continues to Struggle as Debt Concerns Loom Despite starting Thursday off on a promising note, the euro managed to tumble against most of its main currency rivals as the euro-zone debt crisis continues to drive investors away from the currency. With analysts forecasting an increase in today's US New Home Sales figure over last month, it appears unlikely that the euro will reverse its recent bearish trend. Economic News USD – Unemployment Claims Boost USD Ahead of Holiday Weekend Yesterday's US Unemployment Claims gave the USD an added boost against its main currency rivals ahead of the holiday weekend. The latest unemployment figure came in significantly below analyst expectations at 364K, the lowest level since . . . → Read More: Euro Continues to Struggle as Debt Concerns Loom
ECB LTRO; a Back Door to QE?
2011-12-22 10:54:00
Source: ForexYard ECB LTRO; a Back Door to QE? The 1.5 day EUR rally ended after the first round of the new long term refinancing operation (LTRO) showed 523 banks took more than EUR 489 bn worth loans from the ECB. The amount taken was at the high end of analyst expectations and shows the liquidity shortage European banks face. One question that needs to be asked, is this a back door solution to ECB QE? Economic News GBP – MPC Meeting Minutes Show Willingness for more QE Yesterday's release of the BoE monetary policy committee meeting minutes show the committee may be open to additional QE. Inflation remains above the 2% target but is likely due to . . . → Read More: ECB LTRO; a Back Door to QE?
SEK Strengthens Despite Interest Rate Cut
2011-12-21 08:26:00
Source: ForexYard SEK Strengthens Despite Interest Rate Cut The SEK was up after the Riksbank lowered interest rates to 1.75% from 2.00%. There are two explanations for this counterintuitive move in the SEK. Firstly, the Swedish central bank delivered on the expected 25 bp of monetary policy easing while refraining from a larger policy change. Secondly, risk sentiment improved following a strong Ifo survey and a successful Spanish bond auction. Economic News SEK – SEK Strengthens Despite Interest Rate Cut The SEK was up after the Riksbank lowered interest rates to 1.75% from 2.00%. There are two explanations for this counterintuitive move in the SEK. Firstly, the Swedish central bank delivered on the expected 25 bp of . . . → Read More: SEK Strengthens Despite Interest Rate Cut
EUR Pessimism Reaches a High
2011-12-20 16:00:00
Source: ForexYard EUR Pessimism Reaches a High EUR bears are out in full force. According to the most recent CFTC Commitment of Traders Report, speculators in the futures market have built their largest EUR short position since May 2010. The one sided positioning highlights the market's pessimism against the EUR but also brings the possibility of a short squeeze. The risk is for a bout of short covering to shake out weak EUR shorts before another move lower. Economic News USD – Housing Continues to Weigh on GDP The USD caught a bid following the death of North Korean dictator Kim Jong II and news of increased tensions on the Korean Peninsula. Today's building permits and housing starts . . . → Read More: EUR Pessimism Reaches a High
Will Investors Test the EUR/CHF Floor?
2011-12-16 08:41:00
Source: ForexYard Will Investors Test the EUR/CHF Floor? Following the decision by the SNB to keep the EUR/CHF floor unchanged at 1.20, the CHF strengthened the most since September. As the European debt crisis comes to a head, perhaps this could be the time investors test the will of the SNB to hold the floor of the EUR/CHF. Economic News CHF – Will Investors Test the EUR/CHF Floor? Following the decision by the SNB to keep the EUR/CHF floor unchanged at 1.20, the CHF strengthened the most since September. As we suspected, the SNB decided to take the more conservative approach and not make a move to raise the floor of the EUR/CHF to 1.25 or 1.30. The . . . → Read More: Will Investors Test the EUR/CHF Floor?
EUR/USD Trades Below 1.30
2011-12-15 08:30:00
Source: ForexYard EUR/USD Trades Below 1.30 The EUR/USD was trading below the 1.30 level for the first time since the beginning of the year. Market sentiment continues to move lower and the threat of an oncoming EU recession could drag the EUR lower into the year end. Economic News USD – Market Sleeps through FOMC Statement The most recent FOMC statement was a non-event which is typically not the case for Fed meetings. The Fed did not adjust interest rates nor did it announce any additional asset purchases (QE3). Instead the FOMC statement was left with its standard statement, ?The Committee will regularly review the size and composition of its securities holdings and is prepared to adjust . . . → Read More: EUR/USD Trades Below 1.30
Examining the CHF Floor
2011-12-14 09:36:00
Source: ForexYard Examining the CHF Floor As the latest SNB Monetary Policy Assessment approaches there has been speculation of an impending move by the SNB to raise the floor of the EUR/CHF to 1.25 or perhaps 1.30 from its current 1.20 level. But with the EUR/CHF trading in a tight 300 pip range the SNB may choose to let the market move first before the SNB takes further action. Economic News CHF – SNB Interest Rate Decision As Thursday's SNB Monetary Policy Assessment approaches there has been speculation of an impending move by the SNB to raise the floor of the EUR/CHF to 1.25 or perhaps 1.30 from its current 1.20 level. This speculation has increased following last . . . → Read More: Examining the CHF Floor
USD Strengthening Prior to FOMC Meeting
2011-12-13 08:13:00
Source: ForexYard USD Strengthening Prior to FOMC Meeting The USD was up across the board yesterday prior to today's FOMC meeting. With such key events occurring near the end of last week perhaps investors took the weekend to digest the news from Europe before sending the EUR and equities lower. Economic News USD – USD Strengthening Prior to FOMC Meeting After a period which lacked significant US data releases the USD returns to the limelight today with the Federal Reserve FOMC meeting. We'll also get CPI and retail sales numbers prior to the FOMC statement. The Fed is not likely to change its policy in today's statement but the central bank could sound more upbeat given the trend . . . → Read More: USD Strengthening Prior to FOMC Meeting
Fed Meeting Slips Under the Radar
2011-12-12 09:31:00
Source: ForexYard Fed Meeting Slips Under the Radar As investors remain fixated on events in Europe FX traders may overlook an important Fed meeting. If the euro zone succeeds in restoring some sense of stability investors could begin to refocus their attention on the loose monetary policy of the US and a weakening USD. Economic News USD – Fed Meeting Slips Under the Radar While events in Europe have captured the attention of both financial markets and the media, investors may overlook an important Fed meeting this Tuesday. The long term trend in the currency markets has been a weakening USD and the primary cause for this has been a loose US monetary policy something the Fed is . . . → Read More: Fed Meeting Slips Under the Radar
ECB Cuts Rates but Disappoints Investors
2011-12-09 08:43:00
Source: ForexYard ECB Cuts Rates but Disappoints Investors During yesterday's press conference European Central Bank President Mario Draghi laid out 3-pillars for the ?Fiscal Compact?. He also stressed the ECB will not use QE nor will it purchase unlimited amounts of European bonds. The EUR fell below the 1.33 level following the disappointing comments. Economic News USD – US Data Releases Go Unnoticed All eyes are on Europe today with the European economic summit in Brussels. Yesterday US weekly unemployment claims were overshadowed by the ECB press conference. The data showed 381k new jobless claims were filed on expectations of 397k. Inventories for the month of November rose 1.6% on consensus forecasts of a 0.4%. This hints at . . . → Read More: ECB Cuts Rates but Disappoints Investors
Waiting for the ECB Bazooka
2011-12-08 08:26:00
Source: ForexYard Waiting for the ECB Bazooka ECB President Mario Draghi has hinted at his willingness to support European nations with additional bond purchases if European governments will move to restore investor confidence in the euro zone. But this announcement will likely only come following Friday's EU economic summit and a concrete commitment by European nations to reign in their debt and budget deficits. Economic News USD – USD Driven by European Headlines The USD is mixed as stress in Europe comes to a head over the next 2-days. There has been a lack of US economic data and therefore much of the movement in the G10 currencies have been coming on headlines from Europe. This scenario has . . . → Read More: Waiting for the ECB Bazooka
Positioning for the ECB Press Conference/EU Economic Summit
2011-12-07 09:28:00
Source: ForexYard Positioning for the ECB Press Conference/EU Economic Summit The most recent CFCT IMM data shows EUR non-commercial traders have their largest short position built in the futures market since June of last year. The one sided positioning could create a short squeeze if European leaders begin to instill a bit of investor confidence towards the end of the week. Economic News EUR – Positioning for the ECB Press Conference/Economic Summit The EUR is shrugging off the recent negative headlines as investors begin to position themselves prior to the ECB policy meeting on Thursday and the 2-day EU economic summit. Market expectations are for at least a 25 bp interest rate cut and some are calling for . . . → Read More: Positioning for the ECB Press Conference/EU Economic Summit
SNB Could Act if Swiss CPI Shows Deflation
2011-12-06 14:30:00
Source: ForexYard SNB Could Act if Swiss CPI Shows Deflation Today at 8:15 GMT the market will digest Swiss CPI data for the month of November. The report is expected to show inflation rose by only 0.1%, up from a decline of -0.1% in October. The risk is the report will show another contraction in Swiss prices and may force the SNB to act again to prevent deflationary forces from creeping into the Swiss economy. Economic News USD – Non-Farm Payrolls Nothing to Brag Home About Friday's NFP data was nothing to brag home about. While the headline number was in-line above consensus forecasts of +140k on expectations of +120k the data in the report was less inspiring. . . . → Read More: SNB Could Act if Swiss CPI Shows Deflation
Central Bank Meetings Galore
2011-12-05 16:00:00
Source: ForexYard Central Bank Meetings Galore Central bankers and politicians were the drivers of the FX markets last week and this will likely continue this week. There are 9 central bank meetings on the economic calendar with the most important being the ECB who could cut rates by at least 25 bp. Economic News USD – Central Bank Meetings Galore Central banks have stepped in to fill the void left by politicians on both sides of the Atlantic. Congress was unable to come to an agreement to lower the US deficit. European politicians have so far failed to contain the 2-year old European debt crisis. Thus central bankers have taken it upon themselves to support financial markets. The . . . → Read More: Central Bank Meetings Galore
Staying Skeptical of Todays Non-Farm Payrolls Report
2011-12-02 10:44:00
Source: ForexYard Staying Skeptical of Todays Non-Farm Payrolls Report Today's non-farm payrolls report is expected to show improvement in US employment data as many economists have upped their forecasts following the strong ADP report. However, traders may want to remain skeptical as US unemployment is still at uncomfortably high levels. Economic News USD – Staying Skeptical of Todays Non-Farm Payrolls Report Over the past few weeks there is a noticeable trend of better US economic data. Just this week we've had strong consumer confidence numbers, a large increase in pending home sales, as well as yesterday's ISM manufacturing PMI survey. While these factors all point to increased momentum for US growth the employment situation remains tepid at best. . . . → Read More: Staying Skeptical of Todays Non-Farm Payrolls Report
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