FOREX TIPS: September 2012

Saturday, September 29, 2012

FOREXYARD: Forex News Blog

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Posted: 27 Sep 2012 02:53 AM PDT

The euro saw very minor upward movement during the first half of Asian trading and eventually gained close to 30 pips to trade as high as 1.2899. That being said, the common currency was not able to sustain its bullish movement, and quickly reversed virtually all of its gains. The EUR/USD is currently trading at 1.2870, not far from a recent two-week low of 1.2834. Crude oil was able to largely maintain its gains from yesterday, after a lower than expected US inventories report signaled an increase in demand in the world's largest oil consuming country. The commodity is currently trading at $90.10, up over a dollar from yesterday afternoon.

Main News for Today

Italian 10-Year Bond Auction
• Fears of rising borrowing costs in the euro-zone have led to risk aversion in the marketplace this week
• Any indication that Italian borrowing costs have gone up may lead to additional euro losses today

US Core Durable Goods Orders- 12:30 GMT
• The indicator is forecasted to come in significantly higher than last month's
• If the final result comes in above the forecasted 0.2%, the USD could see gains against its main currency rivals

US Unemployment Claims- 12:30 GMT
• Forecasted to come in slightly below last week's figure
• Anything below the expected 378K could help the US dollar in afternoon trading

US Pending Home Sales- 14:00 GMT
• Forecasted to come in at -0.4%, significantly below last month's 2.4%
• Any worse than expected news could weigh down on the US dollar vs. the JPY

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Thursday, September 27, 2012

FOREXYARD: Forex News Blog

Market Review 26.9.12

Posted: 26 Sep 2012 12:57 AM PDT

The euro tumbled vs. the US dollar in overnight trading, as concerns regarding the Spanish debt situation led to risk aversion among investors. After falling 55 pips to reach as low as 1.2855, the common currency bounced back to the 1.2870 level, where it is currently trading. After staging a mild upward correction at the beginning of the Asian session, the price of crude oil quickly reversed, erasing all of its previous gains. Crude traded as high as $91.31 a barrel before dropping to its current level of $90.75.

Main News for Today

US New Home Sales- 14:00 GMT
• The home sales data is forecasted to come in at 381K, which would represent an improvement over last month's figure of 372K
• Any better than expected news could help the US dollar bounce back from its recent lows against the Japanese yen

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Market Review 25.9.12

Posted: 25 Sep 2012 03:18 AM PDT

The euro fell to a one-week low against the US dollar in overnight trading, as investor fears regarding Spain and Greece's debt situation, combined with a worse than expected German business climate indicator yesterday, led to risk aversion in the marketplace. After trading as low as 1.2885, the EUR/USD was able to stage a slight upward correction and is currently at 1.2910. The price of crude oil saw minor downward movement last night before staging a bullish correction during early morning trading. The commodity, which is currently trading at $92.55 a barrel, has gained close to $1 since European trading began.

Main News for Today

ECB President Draghi Speaks- 13:00 GMT
• Given the recent resurgence in concerns regarding the debt situations in Greece and Spain, investors will be eagerly watching this speech
• If Draghi is able to calm investor fears regarding the pace of the euro-zone economic recovery, the euro could see bullish movement in afternoon trading

US CB Consumer Confidence- 14:00 GMT
• The consumer confidence figure is expected to come in at 63.1, slightly higher than last month's
• Any better than expected news could help the dollar stage an upward correction against the JPY

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Wednesday, September 26, 2012

FOREXYARD: Forex News Blog

Market Review 24.9.12

Posted: 24 Sep 2012 01:54 AM PDT

Uncertainty regarding a possible Spanish bailout package led to risk aversion when markets opened for the week, and caused the euro to turn bearish during Asian trading. The EUR/USD fell close to 60 pips last night, eventually reaching as low as 1.2925 before staging a slight upward recovery. The pair is currently trading around the 1.2960 level. Commodities and precious metals also started the week on a downward note. The price of crude oil fell over $1 a barrel last night, and is currently trading just above $92. Gold dropped by more than $16 an ounce to trade as low as $1757.03 before bouncing back to its current level of $1762.

Main News for Today

German Ifo Business Climate- 08:00 GMT
• The indicator is forecasted to come in slightly higher than last month's
• Anything above the expected 102.6 could help the euro recover some of its losses from the overnight session

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Tuesday, September 25, 2012

FOREXYARD: Forex News Blog

Market Review 21.9.12

Posted: 21 Sep 2012 01:36 AM PDT

After seeing significant gains yesterday due to worse than expected economic data out of the euro-zone and China, the US dollar staged a downward correction during overnight trading. As a result, higher yielding assets, including gold and silver, were able to recoup some of their recent losses. Crude oil traded steadily at the $93 a barrel level throughout the Asian session. The commodity has gained more than $2 since hitting a six-week low yesterday morning.

Main News for Today

UK Public Sector Net Borrowing- 08:30 GMT
• The British pound has seen significant upward movement against the US dollar in recent weeks
• If today's news comes in better than the forecasted 13.2B, the GBP/USD could see additional bullish movement before markets close for the week

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Saturday, September 22, 2012

FOREXYARD: Forex News Blog

Market Review 20.9.12

Posted: 20 Sep 2012 02:29 AM PDT

Investors reverted to safe-haven assets in overnight trading following a disappointing Chinese manufacturing indicator which led to risk aversion in the marketplace. The EUR/USD fell more than 80 pips to reach its current level of 1.2966, while the AUD/USD fell close to 100 pips to trade as low as 1.0365. A significantly higher than predicted US Crude Oil Inventories figure yesterday resulted in speculations among investors that demand in America has gone down, and resulted in the price of crude tumbling. Crude is down well over $3 a barrel since yesterday afternoon and is currently trading at the $91.50 level.

Main News for Today

Spanish 10-Year Bond Auction
• Spain is widely expected to seek a bailout from the ECB in the near future
• If today's bond auction shows decreased demand for Spanish debt, it may be a sign that the bailout request will come sooner rather than later, and could result in the EUR taking further losses

US Unemployment Claims-12:30
• Unemployment claims are forecasted to come in at 374K, slightly below last week's figure
• If today's news comes in below 374K, the dollar could extend its gains against the EUR and AUD

US Philly Fed Manufacturing Index-14:00
• The manufacturing indicator has come in below the expected level for the last five months
• If today's news once again disappoints, the dollar could take losses against the yen

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