FOREX TIPS

Saturday, June 2, 2012

FOREXYARD: Forex News Blog

Link to Forex Trading Education : Forex Trading Blog by FOREXYARD

Posted: 01 Jun 2012 01:27 AM PDT

The EUR/USD dropped to its lowest level since July of 2010 at 1.2323 in overnight trading. Investor concerns that the Bank of Japan will intervene in the markets to weaken the yen caused the USD/JPY to come off a recent 3 ½ month low. The pair is currently trading at 78.42.

Main News for Today

UK Manufacturing PMI- 08:30 GMT
• The pound has taken heavy losses against the dollar, yen and euro lately
• Analysts are predicting today's news to come in at 49.7, which would mean that the British manufacturing industry contracted last month
• If the news comes in as expected, the pound could see additional losses to close out the week

US Non-Farm Employment Change- 12:30 GMT
• Considered the most important economic indicator on the forex calendar
• The last two months have both come in below expectations and have led to dollar losses
• Should today's news again disappoint, the dollar could drop against the yen

Friday, June 1, 2012

FOREXYARD: Forex News Blog

Market Review 31.5.12

Posted: 31 May 2012 02:10 AM PDT

The euro fell as low as 1.2357 against the US dollar in overnight trading, as fears that Spain will soon require a bailout package continue to drive the common-currency lower. Crude oil continued its downward trend as well, reaching $87.25 a barrel last night.

Main News for Today

US ADP Non-Farm Employment Change-12:15 GMT

• Considered an accurate predictor of tomorrow's Non-Farm Payrolls Claim
• Analysts are forecasting the figure to come in at 145K, slightly above last month's
• Any better than expected news could help the USD move up against JPY

US Prelim GDP-12:30 GMT

• Analysts are predicting the figure to come in at 1.9%, which would represent a decrease from last month
• If the figure comes in as predicted, investors may continue shifting their funds to the safe-haven JPY as a result

Irish Stability Treaty Vote- All day

• Ireland is voting on whether to ratify a new EU fiscal treaty
• Analysts expect that Ireland will vote in favor of the treaty, but if it does not, the euro could see heavy losses as a result