FOREXYARD: Forex News Blog

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Market Review 16.8.12 Posted: 16 Aug 2012 01:47 AM PDT The dollar hit a fresh one-month high against the JPY last night, as investor confidence in the US economic recovery remained high following strong US retail sales reports earlier in the week. Crude oil also came within reach of a three-month high last night, after a US inventory report yesterday came in below expectations, signaling to investors that demand in the world's largest oil consuming country is increasing. After peaking at $94.58 a barrel during Asian trading, oil fell slightly and is now trading just above the $94 level. Main News for Today US Building Permits- 12:30 GMT • Analysts are forecasting a slight increase over last month's figure • If true, the dollar could extend yesterday's gains against the yen US Unemployment Claims- 12:30 GMT • The Unemployment Claims figure is forecasted to come in at 365K, slightly higher than last week • If the figure comes in above 365K, investors may revert to safe-haven assets which could cause the USD/JPY to reverse its current bullish trend US Philly Fed Manufacturing Index- 14:00 GMT • Analysts are predicting today's figure to come in at -4.7, which would signal worsening conditions in the US manufacturing sector • If the figure comes in above -4.7, investor confidence in the US economy could go up, which may lead to dollar gains during the afternoon session Read more forex news on our forex blog

Market Review 15.8.12 Posted: 15 Aug 2012 01:02 AM PDT Following slight losses during the overnight session, the USD/JPY bounced back to a one-month high at 78.93 during early morning today. The dollar saw gains across the board yesterday, after the release of better than expected US Retail Sales and Core Retail Sales reports. Crude oil and gold saw little movement during Asian trading, while the euro saw very modest gains against the dollar after dropping close to 60 pips yesterday. The EUR/USD is currently trading at 1.2332, up 15 pips from the beginning of last night. Main News for Today UK Claimant Count Change- 08:30 GMT • The Claimant Count Change measures the change in the number of people claiming unemployment benefits in the UK • Today's news is forecasted to come in at 6.2K, slightly higher than last month's figure • If true, sterling could extend its recent downward trend against the dollar US Core CPI- 12:30 GMT • The CPI measures the change in price of goods and services • Today's news is forecasted to come in at 0.2%, which is the same as last month's figure • Any better than expected news could help the USD extend yesterday's gains Read more forex news on our forex blog

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