FOREXYARD: Forex News Blog

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• Market Review 29.6.12
• Market Review 28.6.12
• Market Review 27.6.12
• Market Review 26.6.12
• Market Review 22.6.12
• Market Review 21.6.12
• Market Review 20.6.12
• Market Review 19.6.12
• Market Review 15.6.12
• Market Review 14.6.12
• Market Review 13.6.12

Market Review 29.6.12 Posted: 29 Jun 2012 03:32 AM PDT The euro shot up close to 180 pips against the USD in overnight trading after euro-zone leaders announced that they would take emergency steps to bring down borrowing costs in Spain and Italy. The EUR/USD is currently trading at 1.2590. Other riskier currencies benefited from the news as well. Both the AUD/USD and GBP/USD have gone up more than 150 pips since last night and are respectively trading at 1.0177 and 1.5661. Main News for Today EU Summit-All day • Following last night's announcement that EU leaders would work to bring down borrowing costs in Spain and Italy, investors will be closely watching for any additional developments out of the summit • Any additional news on ways to combat the euro-zone debt crisis could lead to additional gains for the EUR UK BOE Gov King Speaks-09:30 GMT • The Bank of England Governor is expected to give a speech regarding further monetary easing steps to boost the British economic recovery • If additional monetary easing is announced, the pound could extend last night's gains against the USD Read more forex news on our forex blog

Market Review 28.6.12 Posted: 28 Jun 2012 01:54 AM PDT The EUR/USD bounced back from a three-week low during the overnight session yesterday, reaching as high as 1.2523 before staging another downward correction. The pair is once again trading below the 1.2500 level. Traders can expect significant market volatility today, as a much anticipated EU summit is scheduled to begin. Main News for Today EU Summit- Scheduled for today and tomorrow • Investors will be closely watching the summit to see if any new plans to stimulate euro-zone growth will be unveiled • The overall feeling among analysts is that EU leaders will likely fail to unveil any new significant measures at the summit • Should the EU summit disappoint, riskier currencies and commodities, like the euro, AUD and crude oil, could take heavy losses to finish out the week Italian 10-y Bond Auction • Investors will be watching the bond auction to see how hard the Italian economy has been hit by the euro-zone debt crisis • Should demand for Italian bonds turn out to be poor, the euro could see heavy losses throughout the day US Unemployment Claims-12:30 GMT • The number of Americans filing for first time unemployment insurance has gone up over the last 2 weeks • Should today's news come in above the expected 385K, the dollar could take losses against the Japanese yen Read more forex news on our forex blog

Market Review 27.6.12 Posted: 27 Jun 2012 01:56 AM PDT The EUR/USD came off a two-week low in overnight trading, but any gains are likely to be limited due to pessimism that the upcoming EU summit will produce any concrete solutions to the euro-zone debt crisis. The pair is currently trading at 1.2490. The price of gold fell further during the overnight session, largely due to the strengthening US dollar, which has made the precious metal more expensive for international buyers. Gold has dropped close to $18 in the last 24 hours and is currently trading at $1567 an ounce. Main News for Today US Core Durable Goods Orders- 12:30 GMT • The figure is forecasted to come in well above last month's result • Should the news come in at or above the predicted level of 0.9%, the USD could see additional gains against the euro • If the dollar extends its bullish trend today, commodities like crude oil and gold could fall further US Pending Home Sales- 14:00 GMT • Predicted to come in at 1.2%, well above last month's -5.5% • If true, the dollar could see gains against the JPY Read more forex news on our forex blog

Market Review 26.6.12 Posted: 26 Jun 2012 12:45 AM PDT The euro fell close to a two-week low against the US dollar during the overnight session, as investors remain doubtful that a summit of EU leaders later this week will produce any meaningful solutions to the euro-zone debt crisis. Furthermore, the EUR/JPY fell close to 40 pips last night, and is currently trading at 99.51. Crude oil also resumed its bearish trend dropping close to 60 cents. The commodity is currently trading at $78.80 a barrel. Main News for Today US CB Consumer Confidence Figure-14:00 GMT • While the dollar has seen substantial gains against currencies like the euro and Swiss franc lately, it has fallen against the Japanese yen • If today's news comes in above the forecasted level of 63.8, it may help the dollar recover some of its recent losses against the JPY • Should today's news come in below the expected level, the dollar could take additional losses against the JPY Read more forex news on our forex blog

Market Review 22.6.12 Posted: 22 Jun 2012 12:51 AM PDT The safe-haven US dollar made significant gains across the board in overnight trading amid a credit rating downgrade of 15 global banks and growth worries in China, the euro-zone and the US. The EUR/USD has fallen close to 130 pips over the last 24 hours, eventually reaching as low as 1.2542 during the Asian session. Crude oil also took significant losses last night. The commodity fell as low as $77.85 a barrel before staging a slight upward correction. Main News for Today German Ifo Business Climate-08:00 GMT • The indicator is a survey of business conditions in Germany, the euro-zone's biggest economy • Should the survey come in below the forecasted 106.1, it may lead to additional fears that the euro-zone crisis is spreading to Germany. In such a case, the euro could take additional losses ECOFIN Meetings- All day • The meetings involve talks between leaders of Germany, France, Italy and Spain regarding the economic crisis in the euro-zone • Investors will be watching the meetings because Spain may formally request a bailout for its banking sector • Should Spain request a bigger than expected bailout, riskier currencies like the euro and AUD could drop further

Market Review 21.6.12 Posted: 21 Jun 2012 01:18 AM PDT The US dollar was able to avoid significant losses in overnight trading, after the Fed extended its bond buying program but did not announce a new round of quantitative easing. Meanwhile, crude oil took heavy losses after the release of a significantly bigger than expected US Crude Oil Inventories figure yesterday. Crude is currently trading below $81 a barrel. Today, in addition to US news, investors will likely be shifting their focus back to the euro-zone, and in particular the ongoing banking troubles in Spain. Main News for Today US Unemployment Claims- 12:30 GMT • Unemployment continues to impeded the US economic recovery • If today's figure comes in above the expected 381K, the dollar could fall against its main currency rivals US Existing Home Sales- 14:00 GMT • Existing home sales are forecasted to come in below last month's figure • If true, the dollar could take losses against the JPY in evening trading US Philly Fed Manufacturing Index- 14:00 GMT • Manufacturing is one of the few sectors of the US economy that continues to expand • Today's figure is forecasted to come in well above last month's • If true, the dollar may see some gains during afternoon trading Read more forex news on our forex blog

Market Review 20.6.12 Posted: 20 Jun 2012 01:13 AM PDT The euro largely held onto gains from yesterday during the overnight session, as investors eagerly await a batch of US news today. Crude oil also largely remained bullish last night and is currently trading just above the $84.00 a barrel level. Main News for Today US FOMC Statement 16:30 GMT US FOMC Economic Projections 18:00 GMT US FOMC Press Conference 18:15 GMT • Investors will be closely watching all three of these events for clues as to whether the Fed will initiate a new round of quantitative easing in the near future • It is also widely expected that the Fed will extend its bond-buying program in order to stimulate growth in the US economy • Any mention of a new round of quantitative easing is likely to lead to gains for riskier currencies • If the Fed chooses not to extend its bond-buying program, the dollar could see gains during the evening session Read more forex news on our forex blog

Market Review 19.6.12 Posted: 19 Jun 2012 12:46 AM PDT The euro staged a mild recovery in overnight trading against the US dollar, but still remained bearish due to record high Spanish bond yields. Crude oil also took losses last night, while gold continues to benefit from its status as a safe-haven asset. The precious metal is currently trading above $1630 an ounce. Main News for Today German ZEW Economic Sentiment-09:00 GMT • Analysts are predicting the figure to come in at 3.8, well below last month's result of 10.8 • If true, it may raise fears that the euro-zone crisis is spreading to other countries in the region and may result in further euro losses today US Building Permits- 12:30 GMT • Analysts are forecasting a slight increase over last month's figure • Should the news come in above expectations, the dollar could see gains against the yen today Read more forex news on our forex blog

Market Review 15.6.12 Posted: 15 Jun 2012 02:51 AM PDT The euro saw moderate gains in overnight trading against its main currency rivals, but investors remained cautious about boosting the common-currency too much ahead of elections in Greece on Sunday. Disappointing US news has led to speculation that the Fed may initiate a new round of economic stimulus. As a result, the price of crude oil has gone up over $2 since yesterday afternoon and is currently trading around the $84.55 level. Following the Japanese Monetary Policy Statement last night, the USD/JPY fell over 60 pips and is currently trading around 78.90. Main News for Today US Prelim UoM Consumer Sentiment-13:55 GMT • The indicator is predicted to come in at 77.5, which would be below last month's figure • Should the figure come in below expectations, the dollar could extend its bearish momentum vs. the yen Greek Elections-Sunday • Major volatility is expected to occur when markets open on Sunday night • If anti-austerity political parties win in the election, the euro could see heavy downward movement as a result Read more forex news on our forex blog

Market Review 14.6.12 Posted: 14 Jun 2012 01:12 AM PDT The euro saw moderate gains in overnight trading, but remained low as investors continue to worry about the outcome of Greek elections scheduled for Sunday. Crude oil reversed its gains from yesterday and is currently trading around $82.55 a barrel. Gold continues to move up, as investors now view it as a safe-haven asset. The precious metal is currently trading at $1618.15 an ounce. Main News for Today Italian Bond Auction • Investors will be closely watching the auction to see if the euro-zone debt crisis has spread beyond Spain and Greece • Poor demand for Italian bonds could cause the euro to fall during afternoon trading US Core CPI-12:30 GMT • The USD fell against the yen during trading yesterday after several US indicators came in below their expected levels • The same trend could occur today if the Core CPI comes in below the expected 0.2% US Unemployment Claims-12:30 GMT • Forecasted to come in at 377K • Anything above the forecasted level could cause the USD to take losses during afternoon trading Read more forex news on our forex blog

Market Review 13.6.12 Posted: 13 Jun 2012 01:03 AM PDT Markets were relatively calm in overnight trading, as investors remain hesitant to open positions ahead of an Italian bond auction tomorrow and elections in Greece on Sunday. The EUR/USD is currently trading around the 1.2505 level, roughly the same as the beginning of the Asian session. Crude oil was able to largely hang onto its gains from yesterday, and is currently trading around $83.10 a barrel. Main News for Today US Core Retail Sales-12:30 GMT • The figure is forecasted to come in at 0.1%, which is the same as last month • If the news disappoints, the dollar may take losses against both the EUR and JPY US PPI- 12:30 GMT • The PPI is a measure of consumer inflation • Today's figure is expected to come in at -0.6%, significantly below last month's • If true, the dollar could take losses in afternoon trading US Retail Sales- 12:30 GMT • Forecasted to come in at -0.1%, which is well below last month's • If true, the dollar could take losses in afternoon trading Read more forex news on our forex blog

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