FOREXYARD: Forex News Blog

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• Market Trends for 9.11.12
• Market Review 9.11.12
• Fiscal Cliff Concerns Lead to Risk Aversion
• Market Review 8.11.12
• Market Review 7.11.12
• Market Review 6.11.12
• Market Review 5.11.12
• Market Review 2.11.12
• Can US Employment Data Boost the Dollar Again?
• Market Review 1.11.12
• Market Review 31.10.12

Market Trends for 9.11.12 Posted: 09 Nov 2012 12:45 AM PST Hey Everyone, Below are some market trends for today. Good luck! -Dan Gold- May see a downward correction today • Support- 1715.30 • Resistance- 1746.60 Silver- May see a downward correction today • Support- 31.67 • Resistance- 32.62 EUR/USD- May see a downward correction today • Support- 1.2720 • Resistance- 1.2804 DAX 30- May see upward movement today • Support- 7158.15 • Resistance- 7275.74 Read more forex news on our forex blog

Market Review 9.11.12 Posted: 09 Nov 2012 12:42 AM PST The euro remained within reach of a two-month low against the US dollar and a one-month low vs. the Japanese yen during overnight trading, as concerns regarding the economies in Spain and Greece boosted safe-haven assets. After falling more than 50 pips during afternoon trading yesterday, the USD/JPY was able to stage a minor upward correction during the Asian session. The pair is currently trading around the 79.50 level, down from yesterday's peak of 79.93. Crude oil and gold spent most of the overnight session range trading, as investors continue to wait for news regarding the US "fiscal cliff" and a potential Spanish bailout. Main News for Today US Prelim UoM Consumer Sentiment- 14:55 GMT • Today's news is forecasted to come in at 82.6 • Should the indicator come in above 82.6, investor confidence in the US economic recovery could receive a boost, which may help the USD recoup some of its losses against the yen before markets close for the weekend Read more forex news on our forex blog

Fiscal Cliff Concerns Lead to Risk Aversion Posted: 08 Nov 2012 03:21 AM PST The euro, already trading at a two-month low against the US dollar, is extending its bearish trend as investors continue to worry about euro-zone debt and the impending US “fiscal cliff.” The fiscal cliff consists of around $600 billion in spending cuts combined with tax hikes that is set to take place at the end of this year unless the US congress can negotiate a plan to reduce the deficit. While fiscal cliff concerns are likely to remain on investors minds for the foreseeable future, the more immediate cause for worry appears to be the ongoing euro-zone debt crisis. While the common-currency received a moderate boost yesterday following the Greek parliament’s approval of a new batch of austerity measures, the bullish movement proved to be short lived. For clues as to how the euro will be performing for the rest of the day, traders will want to pay attention to the ECB Press Conference at 13:30 GMT. Weak data from across the euro-zone has led to speculations that the ECB may soon cut interest rates. Any sign of an impending rate cut today could lead to significant market volatility. Read more forex news on our forex blog

Market Review 8.11.12 Posted: 08 Nov 2012 01:25 AM PST The euro fell to a one-month low against the Japanese yen and a two-month low vs. the US dollar during overnight trading, as fears regarding an impending deadline for the US congress to reach a deal to prevent drastic budget cuts and tax increases, led to risk aversion in the marketplace. The so called "fiscal cliff", set to occur at the end of the year, threatens to send the US back into recession if a deal cannot be reached in time. Gold, which received a substantial boost after Barack Obama won the US presidential election, was able to largely maintain its recent gains last night. The precious metal spent most of the night trading around the $1718 level. Main News for Today ECB Press Conference- 13:30 GMT • The press conference typically serves as a platform for the ECB to discuss the state of the euro-zone economic recovery • Should EU officials voice any pessimism regarding either the Spanish or Greek economies, risk aversion could send the euro down further US Unemployment Claims- 13:30 GMT • Unemployment claims is forecasted to come in at 367K, slightly higher than last week's data • Should the figure come in below its forecasted level, the dollar could receive a boost against the yen during afternoon trading US Trade Balance- 13:30 GMT • Trade balance is forecasted to come in slightly worse than last month's • Any worse than expected data could lead to dollar losses during afternoon trading Read more forex news on our forex blog

Market Review 7.11.12 Posted: 07 Nov 2012 01:49 AM PST The euro saw significant gains during overnight trading, as investors shifted their funds to riskier assets after it became clear the Barack Obama would be reelected as President of the United States. Other higher yielding assets, including gold, saw gains as well. The precious metal advanced close to $17 an ounce during Asian trading, eventually reaching as high as $1726.62, before dropping back to its current level of $1722.70. After falling more than 50 pips during overnight trading, the USD/JPY has since recouped most of its losses and is currently trading at 80.25. Main News for Today Greek Parliamentary Vote • The Greek parliament is set to vote on a new package of austerity measures needed to unlock a new round of bailout funds • The austerity measures are widely unpopular, and there is heavy pressure on elected officials to vote against them • Should the austerity measure fail to be enacted, risk aversion could result in the euro taking heavy losses Read more forex news on our forex blog

Market Review 6.11.12 Posted: 06 Nov 2012 01:21 AM PST The AUD saw substantial gains during overnight trading, after the RBA decided to leave Australian interest rates unchanged at 3.25%. Most analysts were predicting that the rates would be lowered to 3%. The AUD/USD shot up more than 50 pips after the news was released to trade as high as 1.0436. The euro spent most of the night at or near a recent two-month low against the USD, as investors eagerly await a Greek parliamentary vote tomorrow seen as crucial for Athens to receive a new round of bailout funds. The EUR/USD is currently trading at 1.2774. Both crude oil and gold spent most of the night range trading, as investors continued to await the results of today's US presidential and congressional elections before opening positions. Main News for Today UK Manufacturing PMI-09:30 GMT • The British pound has taken significant losses in recent days against the US dollar • If today's manufacturing PMI comes in above the expected 0.3%, the pound could see a modest recovery German Factory Orders- 11:00 GMT • Forecasted to come in at -0.3%, well above last month's -1.3% • Any better than expected data could help the euro recover some of its recent losses against the USD and JPY US Presidential/Congressional Elections- All Day • While the official outcome of the elections likely will not be known until late tonight or tomorrow morning, analysts will be issuing predictions throughout the day which are likely to result in market volatility.

Market Review 5.11.12 Posted: 05 Nov 2012 01:16 AM PST The USD/JPY remained within reach of its highest point since late April during the overnight session, as positive US employment data continued to boost confidence in the American economic recovery. That being said, uncertainty regarding the outcome of tomorrow's presidential election limited any gains. The euro extended its bearish run throughout overnight and early morning trading, as concerns regarding Greece's ability to secure another round of bailout funds have weighed down on the common currency. The EUR/USD, currently trading at 1.2790, is at its lowest point in close to two-months. After a brief upward correction during the Asian session, gold once again began falling and is now trading around the $1677 an ounce level, its lowest point since early September. Main News for Today UK Services PMI- 09:30 GMT • The indicator is forecasted to come in at 52.0, slightly below last month's figure of 52.2 • Any worse than expected news could push the GBP/USD, already close to a two-week low, lower during mid-day trading US ISM Non-Manufacturing PMI- 15:00 GMT • The indicator is forecasted to come in at 54.6, slightly below last month's figure of 55.1 • Should the indicator come in above the expected level, the dollar could extend its recent bullish trend against the euro, JPY and CHF

Market Review 2.11.12 Posted: 02 Nov 2012 04:02 AM PDT The Japanese yen slipped to a fresh four-month low against the US dollar last night, following better than expected US employment data yesterday which boosted investor confidence in the US economic recovery. The USD/JPY, currently trading at 80.32, has gained close to 40 pips in the last 24 hours. Concerns regarding Greece's willingness to institute new austerity measures, required to secure a new round of bailout funds, caused the euro to fall against several of its main rivals in Asian trading. The EUR/USD fell more than 50 pips last night, and is currently trading below the 1.2900 level. Both crude oil and gold saw minor downward corrections last night, as concerns about Greece also weighed down on higher-yielding commodities. Still, analysts were quick to warn that investors are likely to hold off on opening big positions for commodities until after key US employment data today. Main News for Today US Non-Farm Payrolls – 12:30 GMT • The Non-Farm figure is widely considered the most important indicator on the forex calendar • Following yesterday's better than expected ADP Non-Farm Employment Change, analysts are forecasting today's news to show growth in the US employment sector • Any better than expected data could help the USD/JPY extend its recent bullish trend US Unemployment Rate- 12:30 GMT • After last month's surprising drop in the US Unemployment Rate, the dollar received a boost against the yen • Any better than expected news could help the dollar once again today Read more forex news on our forex blog

Can US Employment Data Boost the Dollar Again? Posted: 01 Nov 2012 03:19 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 tomorrow, November 2nd at 12:30 GMT. As can be seen in the chart below, following a surprising drop in the US unemployment rate last month, the US dollar saw major gains against the Japanese yen. Don't miss out on another opportunity to capitalize on market volatility! Tomorrow's news is forecasted to come in at 123K, slightly higher than last month's 114K. Any better than expected news could help the USD against several of its main currency rivals, including the Japanese yen. In addition, positive employment data could boost US stocks, which were forced to close earlier this week due to Hurricane Sandy. This is an excellent opportunity for forex traders to take advantage of potentially significant news, so don't miss out!

Market Review 1.11.12 Posted: 01 Nov 2012 02:36 AM PDT The dollar came within reach of a four-month high against the Japanese yen in overnight trading, fully recovering from the losses it took after Tuesday's announcement that the Bank of Japan was initiating a new round of monetary easing. After trading as high as 80.11, the USD/JPY saw a minor downward correction to its current level of 79.99. Fears among investors regarding Greece's ability to institute new austerity measures required to secure the next round of a bailout package, caused the euro to take some losses in early morning trading. The EUR/USD fell close to 50 pips to trade as low as 1.2925 before bouncing back to its current level of 1.2945. Commodities and precious metals spent most of the overnight session range trading, as investors remain hesitant to open new positions before tomorrow's all-important US Non-Farm Payrolls figure is released. Main News for Today US ADP Non-Farm Employment Change-12:15 GMT • The indicator is considered a valid predictor of tomorrow's all-important Non-Farm Payrolls figure • Any better than expected news could give the US dollar an extra boost against the JPY US CB Consumer Confidence- 14:00 GMT • This indicator was originally supposed to be released on Tuesday, but was postponed due to Hurricane Sandy • Consumer confidence is forecasted to have increased to 72.4 from 70.3 last month • Any better than expected data could boost riskier assets during the afternoon session US ISM Manufacturing PMI- 14:00 GMT • The indicator is forecasted to come in slightly below last month's figure • Worse than expected news could boost the safe-haven yen US Crude Oil Inventories- 15:00 GMT • This indicator was postponed from yesterday due to Hurricane Sandy • Should the news come in above the forecasted 1.9M, the price of oil could fall during afternoon trading Read more forex news on our forex blog

Market Review 31.10.12 Posted: 31 Oct 2012 03:01 AM PDT A positive German retail sales figure during early morning trading led to gains for higher-yielding currencies and commodities, including the euro, British pound, gold and crude oil. The dollar was able to recoup some of its losses against the Japanese yen in overnight trading, although analysts were quick to warn that any gains could be limited, as the full impact Hurricane Sandy has had on the US economy is still not known. Today, traders will want to note that after being closed for the last two days, US markets will be reopening today. As officials begin assessing the full impact Hurricane Sandy has had on the US economy, major fluctuations in stocks and currencies can be expected. Main News for Today US Crude Oil Inventories- 14:30 GMT • The price of crude oil received a boost during early morning trading today following positive euro-zone news • Should today's inventory figure come in below expectations, which would signal increased demand in the US, crude could extend its bullish trend Read more forex news on our forex blog

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