| Nokia May be Poised to Reverse Gains Posted: 28 Aug 2012 03:09 AM PDT 
Shares in Nokia, Finland's leading electronics manufacturer, have spiked in recent days amid the legal disputes between two of its main rivals, Apple and Samsung. While some are predicting that Nokia may be able to continue advancing in value, technical indicators are signaling that the company may be overbought and a downward correction could be forthcoming. Taking a look at the chart below, we can see that both the Williams Percent Range and Relative Strength Index have crossed into the overbought zone, while the Slow Stochastic has formed a bearish cross. Now may be a good time for traders to open short positions ahead of a possible downward correction. 
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| Market Review 28.08.2012 Posted: 28 Aug 2012 01:54 AM PDT
Higher yielding currencies took minor losses in overnight trading, as a slowdown in China's economy led to risk aversion in the marketplace. The EUR/USD dropped more than 40 pips, eventually hitting the 1.2463 level before staging an upward correction. The pair is currently trading at 1.2483. The AUD/USD hit a five-week low at 1.0344 before correcting itself. The pair is currently trading at 1.0371. After falling by than $3 a barrel yesterday to reach as low as $94.39, crude oil was able to recoup some of its losses last night and is currently at $95.48. Main News for Today US CB Consumer Confidence-14:00 GMT
• Analysts are forecasting the figure to come in at 65.8, slightly lower than last month's
• If the figure disappoints, the US dollar could take losses against the JPY in afternoon trading  |
| US Consumer Confidence Could Lead to Risk Aversion Posted: 27 Aug 2012 05:57 AM PDT
At FOREXYARD, we believe in keeping our clients prepared for potentially significant news events. As such, traders will want to pay careful attention to the US CB Consumer Confidence, set to be released tomorrow, August 28th at 14:00 GMT. As can be seen in the chart below, risk aversion due to a worse than expected consumer confidence figure in June, caused the EUR/USD to drop close to 60 pips. 
Don't miss out on another opportunity to capitalize on market volatility! Several US indicators in the last several weeks have come in below their forecasted levels and have resulted in investors shifting their funds to safe-haven assets, like the Japanese yen. If tomorrow's news comes in lower than the expected 65.8, risk aversion in the marketplace could result in losses for higher-yielding currencies, including the EUR, AUD and CHF. This is an excellent opportunity for forex traders to take advantage of potentially significant news, so don't miss out! Read more forex news on our forex blog  |
| Market Review 27.8.12 Posted: 27 Aug 2012 01:27 AM PDT
The euro took modest losses against the US dollar in overnight trading, as concerns regarding Greece's ability to control its debt levels led to risk aversion in the marketplace. The EUR/USD fell around 30 pips last night before staging an upward correction during early morning trading. The pair is currently trading just above the 1.2500 level. A hurricane in the Gulf of Mexico caused the price of oil to spike in overnight trading. The commodity gained more than $1 to reach as high as $97.69, before correcting itself. Currently oil is trading at $96.95. Main News for Today German Ifo Business Climate- 08:00 GMT
• Analysts are forecasting the indicator to come in at 102.7, below last month's result of 103.3
• If today's news comes in below the forecasted level, the euro could take losses against the USD and JPY as a result Read more forex news on our forex blog  |
| Market Review 23.8.12 Posted: 23 Aug 2012 01:26 AM PDT
Signs that the Fed is preparing to initiate a new round of quantitative easing as early as next month, led to significant gains for higher-yielding currencies last night. The EUR/USD hit a fresh seven-week high, and is currently trading above 1.2560. Crude oil also extended its recent gains and is currently trading at $98.12 a barrel, its highest level since early May. Main News for Today German Flash Manufacturing PMI- 07:30 GMT
• Analysts are calling for the PMI to come in at 43.5, slightly higher than last month's 43.0
• If the indicator comes in below the forecasted level, the euro could reverse some of its recent gains US Unemployment Claims- 12:30 GMT
• The number of people filing for unemployment in the US has come in below expectations for the last four weeks
• If the figure comes in below the expected 365K today, the dollar could see gains against the yen during mid-day trading US New Home Sales- 14:00 GMT
• Analysts are forecasting today's news to show growth in the US real estate sector
• If the new home sales figure comes in at or above the forecasted 363K, the dollar could reverse some of its recent losses  |
| Market Review 22.8.12 Posted: 22 Aug 2012 05:54 AM PDT
The euro was able to hold on to its recent gains in overnight trading, as speculations that the ECB will soon move in with steps to lower borrowing costs in Spain and Italy generated risk taking in the marketplace. The EUR/USD is currently trading at 1.2455, slightly lower than the seven-week high it hit yesterday at 1.2486. Crude oil took modest losses last night, but remains bullish overall due to the combination of risk taking in the marketplace and tensions in the Middle East. Crude is currently trading at $96.55 a barrel. Main News for Today US Existing Home Sales- 14:00 GMT
• Analysts are forecasting the home sales figure to come in at 4.52M, which would signal an improvement over last month's 4.37M
• If today's news comes in as expected, the dollar could see gains against the yen in afternoon trading US Crude Oil Inventories- 14:30 GMT
• The inventories figure is expected to come in at 0.1M, which may signal to investors that demand in the US has decreased
• If today's news comes in at or above 0.1M, crude oil could turn bearish later in the day US FOMC Meeting Minutes- 18:00 GMT
• If the Fed signals in the meeting minutes a new round of quantitative easing, the dollar could see significant losses as a result  |
| Market Review 21.8.12 Posted: 21 Aug 2012 02:08 AM PDT
Risk taking in the marketplace sent higher-yielding assets, like the euro and Australian dollar, higher during overnight trading. The EUR/USD has increased close to 70 pips since the beginning of the Asian session, and is currently trading around the 1.2415 level. The AUD/USD saw similar gains and is currently at 1.0515. Middle East tensions continued to drive the price of crude oil higher last night. The commodity has gained close to $1 a barrel and is currently trading just below the $97 level. Main News for Today UK Public Sector Net Borrowing- 08:30 GMT
• The figures is expected to come in well below last month's, which if true would signal a budget surplus in the UK
• If today's news comes in at or below the expected -2.7B, the pound could extend its recent gains against the US dollar and Japanese yen Read more forex news on our forex blog  |
| Market Review 20.8.12 Posted: 20 Aug 2012 02:54 AM PDT
The US dollar hit a fresh five-week high against the JPY in overnight trading, as positive American news from last week continues to boost optimism in the US economic recovery. After peaking at 79.65, the USD/JPY experienced a slight downward correction, and is currently trading around the 79.50 level. Crude oil extended its recent gains last night, as tensions in the Middle East combined with increased demand in the US caused investors to open long positions. Oil gained more than $0.70 to peak at $96.80 a barrel. The commodity is currently trading around the $96.60 level. Main News for Today With no major news events scheduled for today, traders will want to monitor any announcements out of the euro-zone with regards to any plans to lower borrowing rates in Spain and Italy. Positive news out of the EU could turn the euro bullish today.  |
| Market Review 17.8.12 Posted: 17 Aug 2012 01:45 AM PDT
The euro extended yesterday's gains against the US dollar last night, following comments by German Chancellor Angela Merkel that she will actively work to preserve the euro-zone and the common-currency. The EUR/USD traded as high as 1.2373 before moving slightly downward to its current level of 1.2360. Crude oil was able to maintain yesterday's gains during Asian trading, as tensions in the Middle East continue to fuel supply side fears among investors. Main News for Today US Prelim UoM Consumer Sentiment-13:55 GMT
• Analysts are forecasting today's news to come in at 72.5, slightly higher than last month's figure
• If true, confidence in the global economic recovery could receive a boost, which may lead to risk taking and additional gains for currencies like the euro and Australian dollar Read more forex news on our forex blog  |
| Pound Rallies Following Strong Retail Sales Data Posted: 16 Aug 2012 03:37 AM PDT
The British pound saw gains against several of its main currency rivals during morning trading, after the UK Retail Sales figure came in above its expected level. Retail sale increased by 0.3% last month, significantly higher than the 0% analysts had been predicting. Immediately following the release of the news, the GBP/USD shot up close to 70 pips, while the EUR/GBP fell 30 pips. 
Going into the rest of the day, traders will want to pay particular attention to the US Philly Fed Manufacturing Index. Analysts are predicting that if the news comes in above the forecasted -4.7, expectations that the Fed will initiate a new round of quantitative easing may ease and the dollar could stage a recovery against sterling. Read more forex news on our forex blog  |
| Market Review 16.8.12 Posted: 16 Aug 2012 01:47 AM PDT
The dollar hit a fresh one-month high against the JPY last night, as investor confidence in the US economic recovery remained high following strong US retail sales reports earlier in the week. Crude oil also came within reach of a three-month high last night, after a US inventory report yesterday came in below expectations, signaling to investors that demand in the world's largest oil consuming country is increasing. After peaking at $94.58 a barrel during Asian trading, oil fell slightly and is now trading just above the $94 level. Main News for Today US Building Permits- 12:30 GMT
• Analysts are forecasting a slight increase over last month's figure
• If true, the dollar could extend yesterday's gains against the yen US Unemployment Claims- 12:30 GMT
• The Unemployment Claims figure is forecasted to come in at 365K, slightly higher than last week
• If the figure comes in above 365K, investors may revert to safe-haven assets which could cause the USD/JPY to reverse its current bullish trend US Philly Fed Manufacturing Index- 14:00 GMT
• Analysts are predicting today's figure to come in at -4.7, which would signal worsening conditions in the US manufacturing sector
• If the figure comes in above -4.7, investor confidence in the US economy could go up, which may lead to dollar gains during the afternoon session Read more forex news on our forex blog  |
