FOREXYARD: Forex News Blog

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• Market Review 23.10.12
• Market Review 10.10.12
• Market Review 09.10.12
• Market Review 8.10.12
• US Non-Farm Payrolls Set to Create Heavy Market Volatility
• Market Review 05.10.12
• Market Review 4.10.12
• Market Review 3.10.12
• Market Review 02.10.12
• Market Review 1.10.12
• Market Review 28.9.12

Market Review 23.10.12 Posted: 23 Oct 2012 02:43 AM PDT The US dollar remained within reach of a three-month high vs. the JPY during overnight trading, as expectations that the Bank of Japan will soon institute a new round of monetary easing weighed down on the yen. The EUR/USD fell close to 50 pips during the Asian session as concerns regarding when Spain will formally request a bailout package kept the common currency below its recent one-month high. Meanwhile, the price of crude oil continued to fall last night as concerns regarding a slowdown in the global economy generated supply side fears. The commodity, which is currently trading at the $88.30 level, has fallen close to $3 a barrel in the last 24 hours. Main News for Today Canadian Overnight Rate- 13:00 GMT • The Canadian dollar has taken significant losses against the USD in recent days • While the Bank of Canada is expected to keep interest rates at 1.00% today, any surprise moves could result in heavy volatility for the USD/CAD Read more forex news on our forex blog

Market Review 10.10.12 Posted: 10 Oct 2012 02:23 AM PDT The EUR/USD fell to a 10-day low during overnight trading, as investor concerns regarding Spanish and Greek debt led to an increase in risk aversion. After hitting the 1.2834 level, the pair was able to stage a slight upward correction to reach its current level of 1.2865. Commodities and precious metals also took minor losses during Asian trading. The price of gold fell close to $5 an ounce to trade as low as $1760 before bouncing back to its current level of $1763. Meanwhile, crude oil lost about $0.55 a barrel to reach $91.68 before reversing to its current level of $92.20. Main News for Today US Beige Book- 18:00 GMT • The Beige Book is an analysis the FOMC uses to make a decision regarding interest rates • Should the Beige Book signal any improvements in the US economy, investors may shift their funds to riskier assets, which could help the euro recover some of its recent losses Read more forex news on our forex blog

Market Review 09.10.12 Posted: 09 Oct 2012 01:41 AM PDT After making slight gains during Asian trading against the US dollar, the euro once again turned bearish during the early morning session today as concerns regarding Spanish debt continue to weigh down on the common currency. The EUR/USD advanced more than 20 pips to reach as high as 1.2989 before falling to its current level of 1.2940. Gold also advanced slightly last night, gaining more than $5 to trade as high as $1779.45 an ounce, before dropping back to its current level of $1774. Main News for Today UK Manufacturing Production- 08:30 GMT • The manufacturing indicator is forecasted to come in at -0.6%, well below last month's 3.2% • Any worse than expected news could result in the British pound extending its current bearish trend against the US dollar and Japanese yen Read more forex news on our forex blog

Market Review 8.10.12 Posted: 08 Oct 2012 02:13 AM PDT The US dollar retreated from a two-week high against the Japanese yen during overnight trading, as analysts began warning that the US labor sector's recovery is still progressing slowly despite a surprise drop in the unemployment rate on Friday. The USD/JPY, which is currently trading at 78.30 fell close to 40 pips last night. The EUR/USD fell close to 60 pips during Asian trading, and is once again trading below the psychologically significant 1.3000 level. Main News for Today With bank holidays in the US, Japan and Canada today, traders will want to pay attention to any announcements out of the euro-zone. In particular, news regarding a possible Spanish bailout request has the potential to generate market volatility. Read more forex news on our forex blog

US Non-Farm Payrolls Set to Create Heavy Market Volatility Posted: 05 Oct 2012 02:49 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 Non-Farm Employment Change, set to be released today, October 5th at 12:30 GMT. The Non-Farm indicator is widely considered to be the most significant event on the forex calendar and consistently leads to market volatility. As can be seen in the chart below, last month's worse than expected figure resulted in the US dollar tumbling against the Japanese yen. Don't miss out on another opportunity to capitalize on market volatility! Today’s news is forecasted to come in at 115K, significantly higher than last month's 96K. If the indicator comes in above expectations, optimism in the US economic recovery could lead to risk taking, which may help higher-yielding currencies like the EUR and AUD. 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 05.10.12 Posted: 05 Oct 2012 02:47 AM PDT The markets saw relatively little movement during Asian trading last night, as investors were hesitant to open new positions ahead of today's all-important US Non-Farm Payrolls figure. The EUR/USD remained close to a 2-week high for most of the night, and the pair is currently trading just above the 1.3000 level. Gold hit a fresh 11-month high at $1795.72 before staging a slight downward correction and dropping to its current price of $1791.40. Main News for Today US Non-Farm Employment Change- 12:30 GMT • Analysts are forecasting that the US added 114K jobs in September, which if true, would represent a slight increase over last month's figure of 96K • Should today's indicator come in above expectations, investors may shift their funds to riskier assets, which could boost currencies like the EUR and AUD, as well as commodities like crude oil, gold, silver and platinum Read more forex news on our forex blog

Market Review 4.10.12 Posted: 04 Oct 2012 01:55 AM PDT The US dollar remained close to a two-week high against the Japanese yen during the overnight session, as confidence in the US economic recovery remained high following better than expected American economic indicators released yesterday. The euro saw mild gains against the USD last night, as risk appetite remained high among investors. The EUR/USD advanced close to 40 pips to trade as high as 1.2953. After tumbling close to $4 a barrel yesterday, the price of crude oil remained relatively stable at around $88.20 for most of Asian trading. Main News for Today EU Minimum Bid Rate/ECB Press Conference- 11:45 and 12:30 GMT • Most analysts expect the ECB to leave euro-zone interest rates unchanged at 0.75% • Investors will be closely watching the press conference for clues as to the current state of the EU economic recovery • If the ECB voices any kind of negative sentiment regarding the EU's current economic situation, the EUR/USD could move downward US Unemployment Claims- 12:30 GMT • This week's unemployment claims figure is expected to come in at 371K, slightly higher than last week's figure • If the indicator comes in above the forecasted level, the dollar could turn bearish against the JPY US FOMC Meeting Minutes- 18:00 GMT • Investors will be closely watching the meeting minutes to get a better sense of the current state of the US economic recovery • Any negative outlook from the FOMC may weigh down on the USD during evening trading Read more forex news on our forex blog

Market Review 3.10.12 Posted: 03 Oct 2012 03:01 AM PDT After the EUR/USD took moderate losses in overnight trading, eventually reaching as low as 1.2876, the pair was able to bounce back during the early morning session and is currently at 1.2925. Crude oil extended yesterday's downward trend last night, as investor fears about the global economic recovery continue to generate fears that global demand could continue moving down. The commodity has fallen well over $1 a barrel since yesterday afternoon and is currently trading around the $91.50 level. The price of gold has remained relatively unchanged for the last 24 hours, and is currently trading around the $1776 level. Main News for Today US ADP Non-Farm Employment Change- 12:15 GDP • The indicator is considered a valid predictor of Friday's all-important Non-Farm Payrolls report • Today's news is forecasted to come in at 145K, well below last month's figure of 201K • Any worse than expected news could weigh down on the USD/JPY US ISM Non-Manufacturing PMI- 14:00 GMT • Forecasted to come in slightly below last month's figure • Should the indicator come in above the expected 53.2, risk taking among investors could boost the euro US Crude Oil Inventories- 14:30 GMT • Forecasted to come in at 1.6M, significantly higher than last week's -2.4M • If the news comes in above expectations, it may be taken as a sign that demand in the US is weakening which could result in the price of oil dropping Read more forex news on our forex blog

Market Review 02.10.12 Posted: 02 Oct 2012 02:04 AM PDT The euro saw moderate gains against the US dollar in overnight trading, as a positive US manufacturing report from yesterday continued to boost risk appetite. That being said, the common currency remains close to a recent three-week low, and analysts are warning that bearish movement may continue occurring until Spain makes a formal request for a bailout package. The Australian dollar fell to a one-month low against the greenback last night after RBA unexpectedly decided to cut Australian interest rates. Main News for Today UK Construction PMI- 08:30 GMT • The British pound has seen significant bearish movement against the US dollar in recent days • Any better than expected data today could help sterling recover some of its recent losses Read more forex news on our forex blog

Market Review 1.10.12 Posted: 01 Oct 2012 02:26 AM PDT The euro fell to a three-week low against the US dollar in overnight trading, as concerns about Spanish debt continued to draw investors to safe-haven assets. The common-currency fell as low as 1.2802 last night, before rebounding to its current level of 1.2867. After dropping close to $0.70 a barrel during the Asian session, crude oil was able to recoup most of its losses and currently stands at $91.86, virtually the same price as when markets opened for the week. Main News for Today US ISM Manufacturing PMI- 14:00 GMT • The PMI is forecasted to come in at 49.8, slightly higher than last month's figure • Any better than expected news will likely boost investor confidence in the US economic recovery and could help the dollar extend its recent bullish trend Fed Chairman Bernanke Speaks- 16:30 GMT • Investors will be watching today's speech for clues as to the current state of the US economic recovery • Any positive comments from the Fed Chairman could help the dollar during afternoon trading Read more forex news on our forex blog

Market Review 28.9.12 Posted: 28 Sep 2012 01:55 AM PDT The euro bounced back from a two-week low against the US dollar yesterday, after Spain unveiled a new budget which some viewed as the next step before officially requesting a bailout from the European Central Bank. The EUR/USD advanced more than 30 pips during Asian trading to reach as high as 1.2941 before staging a downward correction and dropping to its current level of 1.2925. Both crude oil and gold saw gains from the news as well. In the last 24 hours, crude has gained more than $2 a barrel while gold has advanced over $25 an ounce. Main News for Today Canadian GDP- 12:30 GMT • The Canadian dollar has steadily gained on the USD for the last several days • Should today's news come in above the forecasted 0.1%, the USD/CAD could see additional downward movement before markets close for the week Read more forex news on our forex blog

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