FOREXYARD: Forex News Blog |
- Market Review 23.5.12
- Dollar Sees Gains across the Board
- Manufacturing Data Could Result in Dollar Gains Tomorrow
- Market Review 15.5.12
- Market Review 14.5.12
- 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
Posted: 23 May 2012 01:35 AM PDT Fears of a Greek exit from the euro-zone brought the EUR/USD within range of a four-month low yesterday. Facebook dropped another $2 a share during overnight trading while crude oil is trading below $91 a barrel. Main News for Today EU Economic Summit-All Day Read more forex news on our forex blog |
Dollar Sees Gains across the Board Posted: 22 May 2012 11:11 PM PDT The US dollar moved up vs. virtually all of its main currency rivals yesterday, following negative data out of the UK and Japan which caused investors to shift their funds to the greenback. A worse than expected UK CPI figure resulted in the GBP/USD tumbling close to 85 pips during the European session. The pair reached as low as 1.5762 before staging a slight upward correction during afternoon trading. Against the JPY, the dollar was able to benefit after Fitch Ratings downgraded Japan's credit score. The USD/JPY shot up over 60 pips following the news to come within reach of the psychologically significant 80.00 level. Turning to today, dollar traders will want to pay attention to the US New Home Sales figure, scheduled for 14:00 GMT. Analysts are forecasting the figure to come in at 335K, which if true, would represent the second consecutive month of growth in the US Real Estate sector. Should the news come in as expected, the dollar may be able to extend yesterday's gains against the yen and UK pound. That being said, if today's indicator comes in below the predicted level, the greenback could reverse its recent bullish trend. Read more forex news on our forex blog |
Manufacturing Data Could Result in Dollar Gains Tomorrow Posted: 16 May 2012 12:21 PM PDT The dollar was able to benefit yet again from risk aversion in the marketplace today, as worries about the Greek political situation caused investors to abandon higher yielding assets. The EUR/USD dropped to a fresh four-month low during the morning session, reaching 1.2679 before staging an upward correction. The pair eventually peaked at 1.2758. The greenback also saw gains against the Australian dollar. The AUD/USD fell as low as 0.9868 before moving upward during mid-day trading. Turning to tomorrow, dollar traders will want to pay attention to the US Unemployment Claims figure at 12:30 GMT, followed by the Philly Fed Manufacturing Index at 14:00. Despite a lack of overall growth in the US labor market in recent months, the number of people claiming unemployment insurance in the US has remained relatively steady. Should tomorrow’s news come in below the forecasted 368K, the greenback could see gains vs. its main rivals. With regards to the manufacturing index, analysts are predicting the news to come in at 10.3, well above last month's figure. If true, the USD/JPY could turn bullish as a result. Read more forex news on our forex blog |
Posted: 15 May 2012 03:15 AM PDT The euro dropped to a fresh four-month low in overnight trading as investors remain concerned about Greece's prospects for staying in the euro-zone. The US dollar saw a slight upward correction against the yen, but was unable to advance above 80.00. Main News for Today German ZEW Economic Sentiment-09:00 GMT Read more forex news on our forex blog |
Posted: 14 May 2012 02:45 AM PDT The euro fell to a four-month low against the USD in overnight trading following news that Greek politicians have once again failed to form a new government. Investors are concerned about the possibility of Greece exiting the euro-zone. Risk aversion in the marketplace also caused the AUD/USD to drop below 1.0000 in morning trading. Main News for Today EUR Industrial Production 09:00 GMT |
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 US PPI- 12:30 GMT US Prelim UoM Consumer Sentiment- 13:55 GMT Read more forex news on our forex blog |
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 UK Official Bank Rate/MPC Rate Statement- 11:00 GMT US Trade Balance- 12:30 GMT US Unemployment Claims US Fed Chairman Bernanke Speaks- 13:30 GMT Read more forex news on our forex blog |
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 Read more forex news on our forex blog |
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 EUR ECB President Draghi Speaks- 12:30 GMT Read more forex news on our forex blog |
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 EUR German Factory Orders- 10:00 GMT CAD Building Permits- 12:30 GMT |
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. |
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