FOREXYARD: Forex News Blog

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• Market Review 11.05.12
• Market Review 10.5.12
• Market Review 9.5.12
• Market Review 8.5.12
• Market Review 7.5.12
• Political Uncertainty May Weigh Down on EUR
• Market Review 4.5.12
• Market Review 3.5.12
• ADP Employment Figure Leads to Dollar Losses
• US Manufacturing PMI Gives USD Boost
• RBA Interest Rate Cut Leads to Aussie Losses

Market Review 11.05.12 Posted: 11 May 2012 01:05 AM PDT The euro fell to a fresh 3 ½ month low against the US dollar in overnight trading as political uncertainty in Greece continues to weigh down on the common currency. In addition, crude oil reversed its gains from yesterday afternoon and is once again trading below $96 a barrel. Main News for Today UK PPI Input- 08:30 GMT • Analysts are predicting that the figure will come in at -0.9%, well below last month's 1.9% • If true, the pound could extend its losses from last night against the USD and JPY US PPI- 12:30 GMT • The US PPI is forecasted to come in at 0.0% • A better than expected figure could help the USD recover some of its losses vs. the JPY • Positive figure could also lead to gains for crude oil US Prelim UoM Consumer Sentiment- 13:55 GMT • Consumer sentiment figure forecasted to come in at 76.4 • A better than expected figure could help the USD against JPY and give commodities like crude oil a boost to close out the week Read more forex news on our forex blog

Market Review 10.5.12 Posted: 10 May 2012 02:10 AM PDT The euro remained near a three-month low against the US dollar and JPY in overnight trading as investors await news regarding a possible new Greek election in the next few weeks. Main News for Today UK Manufacturing Production- 08:30 GMT • Forecasted to come in at 0.5%, well above last month's -1.0% • If true, the GBP may see gains vs. safe-haven currencies UK Official Bank Rate/MPC Rate Statement- 11:00 GMT • MPC isn't expected to adjust British interest rates • The MPC Statement could offer clues as to a possible new round of quantitative easing • Any mention of quantitative easing could turn the pound bearish US Trade Balance- 12:30 GMT • Analysts are predicting the US trade deficit grew to -49.8B • If true, the dollar may see additional losses against the JPY US Unemployment Claims • Unemployment Claims forecasted to have increased to 371K • Anything above 371K could result in dollar losses during afternoon trading US Fed Chairman Bernanke Speaks- 13:30 GMT • Following last week's disappointing Non-Farm Payrolls figure, investors will be closely watching today's speech • Any mention of a new round of quantitative easing in the US could result in heavy dollar losses against the yen Read more forex news on our forex blog

Market Review 9.5.12 Posted: 09 May 2012 01:38 AM PDT Riskier currencies and commodities fell once again during Asian trading, as investors continue to react to Greek and French elections held last weekend. The EUR/USD dropped as low as 1.2964, close to a three-month low. Crude oil fell to $96.26 a barrel. Main News for Today US Crude Oil Inventories- 14:30 GMT • Crude oil stockpiles have increased dramatically in recent weeks, signaling decreased demand in the world's biggest oil consuming country • Should today's figure come in above the forecasted 2.0M, the price of oil could fall further during the afternoon session Read more forex news on our forex blog

Market Review 8.5.12 Posted: 08 May 2012 01:12 AM PDT The EUR/USD and USD/JPY once again turned bearish during overnight trading as uncertainty regarding Greece's new parliament led to additional risk aversion in the marketplace. Commodities and precious metals were also down during the Asian session. Crude has fallen to the $97 a barrel level, while gold dropped over $6 an ounce. Main News for Today EUR German Industrial Production- 10:00 GMT • Forecasted to come in at 0.8%, well above last month's -1.3% • If true, may lead to moderate risk taking in the marketplace which could help euro EUR ECB President Draghi Speaks- 12:30 GMT • Any mention of French and Greek elections and their potential impact on the euro-zone recovery could lead to volatility for euro Read more forex news on our forex blog

Market Review 7.5.12 Posted: 07 May 2012 12:21 AM PDT The euro sank to a three-month low against the US dollar during overnight trading as investors continue to digest the results of yesterday's elections in France and Greece. Crude oil extended its bearish trend as well, dropping over $2 a barrel during Asian trading. Main News for Today EUR Sentix Investor Confidence- 08:30 GMT o Level of investor confidence is forecasted to have dropped since last month o A final result of below -15.3 may lead to additional losses for the euro EUR German Factory Orders- 10:00 GMT o Factory orders in Germany forecasted to have gone up since last month o A final result of over 0.5% could give the euro a temporary boost CAD Building Permits- 12:30 GMT o USD saw major gains against CAD due to risk aversion in the marketplace o With today's news forecasted to come in well below last month's, the loonie's bearish trend may continue o A final result of below -0.5% could lead to additional losses for CAD

Political Uncertainty May Weigh Down on EUR Posted: 04 May 2012 03:34 AM PDT The euro took mild losses against its main currency rivals ahead of today’s highly significant US Non-Farm Payrolls report. The EUR/USD fell over 20 pips to 1.3125 during morning trading, while the EUR/JPY dropped as low as 105.20. The euro may be able to reverse its bearish trend before markets close for the week if today’s Non-Farm statistic comes in below the expected 170K. That being said, analysts are quick to warn that with elections in France and Greece this weekend, any gains the common currency makes could be temporary. Opposition parties are expected to take power in both countries, which may lead to a conflict with other euro-zone countries regarding recent austerity measures in the region. Traders will want to pay attention to the results of the elections, which are scheduled to be released before markets open on Sunday night. Should any signs of a disagreement between either France or Greece and other euro-zone countries come about, the euro could start off next week’s session on a bearish note.

Market Review 4.5.12 Posted: 04 May 2012 01:09 AM PDT The US dollar saw very little movement during overnight trading as investors eagerly anticipate the outcome of today's US Non-Farm Payrolls figure. Crude oil continued to fall during the Asian session, as poor fundamental indicators out of the euro-zone and an increase in US stockpiles weighed down on the commodity. Main News for Today US Non-Farm Employment Change-12:30 GMT o Largely considered the most important indicator on the forex calendar o Analysts are forecasting today's news to come in at 170K o Should the news come in below expectations, the dollar could see losses against the yen before markets close for the week Next Week Euro-Zone Elections 6.5.12 o Elections in both Greece and France are forecasted to generate volatility in the marketplace o Opposition leader is forecasted to win in France, which could result in losses for the euro during next week's trading

Market Review 3.5.12 Posted: 03 May 2012 12:53 AM PDT The euro continued to slide during overnight trading, following negative euro-zone news released yesterday. The EUR/USD dropped as low as 1.3133, while the EUR/JPY fell to 105.30. Main News for Today ECB Press Conference-12:30 GMT o Any pessimistic signs from the ECB regarding the euro-zone economic recovery could result in the euro falling further vs. the USD and JPY Spanish Debt Auction o This will be the first Spanish debt auction since Spain's credit rating was downgraded last week o Should the results of the auction disappoint investors, the euro could see additional losses US Unemployment Claims- 12:30 GMT o Following yesterday's ADP Non-Farm Employment Change, investors will be watching this figure for additional clues as to the current state of the US employment sector o A disappointing result could lead to losses for the USD vs. safe-haven currencies like the JPY and CHF US ISM Non-Manufacturing PMI-14:00 GMT o The US Manufacturing PMI released earlier this week came in better than expected and resulted in significant gains for the USD o Should today's news come in above the forecasted 55.5, the dollar could move up vs. its main currency rivals

ADP Employment Figure Leads to Dollar Losses Posted: 02 May 2012 07:30 AM PDT The US dollar fell vs. the safe-haven JPY throughout European trading yesterday, as a batch of worse than expected international data led to an increase in risk aversion. Specifically, a worse than expected euro-zone manufacturing PMI followed by a disappointing US ADP Non-Farm Employment Change figure resulted in the USD/JPY tumbling over 50 pips over the course of the day. The pair dropped as low as 80.04 before staging a slight upward correction. The euro-zone news resulted in the EUR/USD dropping over 90 pips to reach its lowest level in close to a week and a half. The pair eventually stabilized around the 1.3130 level during the afternoon session. Turning to today, dollar traders will want to pay attention to the weekly US Unemployment Claims figure scheduled to be released at 12:30 GMT, followed by the ISM Non-Manufacturing PMI at 14:00. Yesterday's employment news led to increased doubts among investors regarding the pace of the US economic recovery. Should today's news come in below analyst expectations, the dollar may continue to slide against currencies like the yen and Swiss franc.

US Manufacturing PMI Gives USD Boost Posted: 01 May 2012 07:48 AM PDT After taking losses against most of its main currency rivals throughout the overnight and morning sessions today, the USD was able to stage a mild recovery following a better than expected US ISM Manufacturing PMI. The news resulted in a spike of over 30 pips for the USD/JPY, bringing the pair back above the psychologically significant 80.00 level. Against the Swiss franc, the dollar was able to move up over 50 pips reaching as high as 0.9087. Turning to tomorrow, all eyes will likely be on the US ADP Non-Farm Employment Change figure, scheduled to be released at 12:15 GMT. The ADP figure is considered an accurate predictor of Friday's all important Non-Farm Payrolls figure, and consistently leads to market volatility. At the moment, analysts are forecasting tomorrow’s news to come in at 178K, well below last month's figure. If true, the dollar may reverse the gains it made today. That being said, the ADP figure has proven notoriously difficult to predict. If tomorrow’s news comes in above analyst forecasts, the dollar may be able to extend today’s bullish momentum going into the second half of the week.

RBA Interest Rate Cut Leads to Aussie Losses Posted: 01 May 2012 12:51 AM PDT A bigger than expected cut in Australian interest rates last night turned AUD bearish against euro, USD and JPY in overnight trading. Additionally, poor US fundamentals brought USD/JPY to a fresh two-month low. Main News for Today UK Manufacturing PMI-08:30 GMT o Expected to show growth in the UK manufacturing sector o GBP turned bearish against USD and EUR yesterday o Should today's news come in above expectations, the pound could stage a reversal during the mid-day session US ISM Manufacturing PMI-14:00 GMT o Expected to show growth in the American manufacturing sector o USD spent most of the overnight session range trading against EUR, CHF, GBP and extended bearish run against JPY o Today's news could help USD recover some of its recent losses if it comes in above expectations

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