FOREX TIPS: June 2012

Saturday, June 30, 2012

FOREXYARD: Forex News Blog

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Posted: 29 Jun 2012 03:32 AM PDT

The euro shot up close to 180 pips against the USD in overnight trading after euro-zone leaders announced that they would take emergency steps to bring down borrowing costs in Spain and Italy. The EUR/USD is currently trading at 1.2590. Other riskier currencies benefited from the news as well. Both the AUD/USD and GBP/USD have gone up more than 150 pips since last night and are respectively trading at 1.0177 and 1.5661.

Main News for Today

EU Summit-All day

• Following last night's announcement that EU leaders would work to bring down borrowing costs in Spain and Italy, investors will be closely watching for any additional developments out of the summit
• Any additional news on ways to combat the euro-zone debt crisis could lead to additional gains for the EUR

UK BOE Gov King Speaks-09:30 GMT

• The Bank of England Governor is expected to give a speech regarding further monetary easing steps to boost the British economic recovery
• If additional monetary easing is announced, the pound could extend last night's gains against the USD

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Friday, June 29, 2012

FOREXYARD: Forex News Blog

Market Review 28.6.12

Posted: 28 Jun 2012 01:54 AM PDT

The EUR/USD bounced back from a three-week low during the overnight session yesterday, reaching as high as 1.2523 before staging another downward correction. The pair is once again trading below the 1.2500 level. Traders can expect significant market volatility today, as a much anticipated EU summit is scheduled to begin.

Main News for Today

EU Summit- Scheduled for today and tomorrow

• Investors will be closely watching the summit to see if any new plans to stimulate euro-zone growth will be unveiled
• The overall feeling among analysts is that EU leaders will likely fail to unveil any new significant measures at the summit
• Should the EU summit disappoint, riskier currencies and commodities, like the euro, AUD and crude oil, could take heavy losses to finish out the week

Italian 10-y Bond Auction

• Investors will be watching the bond auction to see how hard the Italian economy has been hit by the euro-zone debt crisis
• Should demand for Italian bonds turn out to be poor, the euro could see heavy losses throughout the day

US Unemployment Claims-12:30 GMT

• The number of Americans filing for first time unemployment insurance has gone up over the last 2 weeks
• Should today's news come in above the expected 385K, the dollar could take losses against the Japanese yen

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Thursday, June 28, 2012

FOREXYARD: Forex News Blog

Market Review 27.6.12

Posted: 27 Jun 2012 01:56 AM PDT

The EUR/USD came off a two-week low in overnight trading, but any gains are likely to be limited due to pessimism that the upcoming EU summit will produce any concrete solutions to the euro-zone debt crisis. The pair is currently trading at 1.2490. The price of gold fell further during the overnight session, largely due to the strengthening US dollar, which has made the precious metal more expensive for international buyers. Gold has dropped close to $18 in the last 24 hours and is currently trading at $1567 an ounce.

Main News for Today

US Core Durable Goods Orders- 12:30 GMT
• The figure is forecasted to come in well above last month's result
• Should the news come in at or above the predicted level of 0.9%, the USD could see additional gains against the euro
• If the dollar extends its bullish trend today, commodities like crude oil and gold could fall further

US Pending Home Sales- 14:00 GMT
• Predicted to come in at 1.2%, well above last month's -5.5%
• If true, the dollar could see gains against the JPY

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Wednesday, June 27, 2012

FOREXYARD: Forex News Blog

Market Review 26.6.12

Posted: 26 Jun 2012 12:45 AM PDT

The euro fell close to a two-week low against the US dollar during the overnight session, as investors remain doubtful that a summit of EU leaders later this week will produce any meaningful solutions to the euro-zone debt crisis. Furthermore, the EUR/JPY fell close to 40 pips last night, and is currently trading at 99.51. Crude oil also resumed its bearish trend dropping close to 60 cents. The commodity is currently trading at $78.80 a barrel.

Main News for Today

US CB Consumer Confidence Figure-14:00 GMT

• While the dollar has seen substantial gains against currencies like the euro and Swiss franc lately, it has fallen against the Japanese yen
• If today's news comes in above the forecasted level of 63.8, it may help the dollar recover some of its recent losses against the JPY
• Should today's news come in below the expected level, the dollar could take additional losses against the JPY

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Saturday, June 23, 2012

FOREXYARD: Forex News Blog

Market Review 22.6.12

Posted: 22 Jun 2012 12:51 AM PDT

The safe-haven US dollar made significant gains across the board in overnight trading amid a credit rating downgrade of 15 global banks and growth worries in China, the euro-zone and the US. The EUR/USD has fallen close to 130 pips over the last 24 hours, eventually reaching as low as 1.2542 during the Asian session. Crude oil also took significant losses last night. The commodity fell as low as $77.85 a barrel before staging a slight upward correction.

Main News for Today

German Ifo Business Climate-08:00 GMT
• The indicator is a survey of business conditions in Germany, the euro-zone's biggest economy
• Should the survey come in below the forecasted 106.1, it may lead to additional fears that the euro-zone crisis is spreading to Germany. In such a case, the euro could take additional losses

ECOFIN Meetings- All day
• The meetings involve talks between leaders of Germany, France, Italy and Spain regarding the economic crisis in the euro-zone
• Investors will be watching the meetings because Spain may formally request a bailout for its banking sector
• Should Spain request a bigger than expected bailout, riskier currencies like the euro and AUD could drop further

Friday, June 22, 2012

FOREXYARD: Forex News Blog

Market Review 21.6.12

Posted: 21 Jun 2012 01:18 AM PDT

The US dollar was able to avoid significant losses in overnight trading, after the Fed extended its bond buying program but did not announce a new round of quantitative easing. Meanwhile, crude oil took heavy losses after the release of a significantly bigger than expected US Crude Oil Inventories figure yesterday. Crude is currently trading below $81 a barrel. Today, in addition to US news, investors will likely be shifting their focus back to the euro-zone, and in particular the ongoing banking troubles in Spain.

Main News for Today

US Unemployment Claims- 12:30 GMT
• Unemployment continues to impeded the US economic recovery
• If today's figure comes in above the expected 381K, the dollar could fall against its main currency rivals

US Existing Home Sales- 14:00 GMT
• Existing home sales are forecasted to come in below last month's figure
• If true, the dollar could take losses against the JPY in evening trading

US Philly Fed Manufacturing Index- 14:00 GMT
• Manufacturing is one of the few sectors of the US economy that continues to expand
• Today's figure is forecasted to come in well above last month's
• If true, the dollar may see some gains during afternoon trading

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