FOREXYARD: Forex News Blog

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• Market Review 30.7.12
• Market Review 18.7.12
• Market Review 13.7.12
• Market Review 29.6.12
• Market Review 26.6.12
• Market Review 5.6.12
• Market Review 11.05.12
• Market Review 8.5.12
• Market Review 7.5.12
• Political Uncertainty May Weigh Down on EUR
• ADP Employment Figure Leads to Dollar Losses

Market Review 30.7.12 Posted: 30 Jul 2012 01:38 AM PDT The euro took losses during the overnight session, but managed to remain well above its recent lows against the US dollar and Japanese yen. Expectations that the European Central Bank will act to lower Spanish and Italian borrowing costs on Thursday have helped boost the common-currency in recent days. Crude oil and gold remain elevated as well, as risk taking has returned to the marketplace. Main News for Today Italian 10-Year Bond Auction • The main reason behind the euro's bearish trend last month was rising borrowing costs in Spain and Italy • If today's news signals that demand for Italian bonds is low or that borrowing costs have gone up, the euro could reverse some of its recent gains during afternoon trading Read more forex news on our forex blog

Market Review 18.7.12 Posted: 18 Jul 2012 01:46 AM PDT The euro saw moderate losses against the US dollar in overnight trading. The EUR/USD fell close to 40 pips, reaching as low as 1.2266 before bouncing back to its current level of 1.2282. Crude oil maintained its recent upward trend last night, as tensions with Iran continued to generate supply side fears among investors. The commodity is currently trading at $89.24 a barrel. Main News for Today Part Two of US Fed Chairman Bernanke's Testimony- 14:00 GMT • The markets saw significant volatility yesterday after the first part of the Fed Chairman's testimony • Investors will be closely watching today for any clues regarding a possible new round of quantitative easing to boost the US economic recovery • Any mention of quantitative easing could lead to broad dollar losses during the afternoon session US Crude Oil Inventories- 14:30 GMT • Crude oil saw gains last week after the US inventories figure came in well below the forecasted level • Should today's indicator come in below the expected 0.5M, investors may see it as a sign that demand for oil in the US is going up, which could lead to additional gains for crude during afternoon trading Read more forex news on our forex blog

Market Review 13.7.12 Posted: 13 Jul 2012 02:00 AM PDT The euro remained near a two-year low against the USD in overnight trading, following a downgrade of Italy's credit rating. The EUR/USD is currently trading at 1.2185. The Australian dollar saw upward movement last night after the Chinese GDP figure came in at its expected level of 7.6%. China is Australia's biggest trading partner and the aussie typically benefits from positive Chinese news. Main News for Today Italian 10-Year Bond Auction • Following Italy's credit rating downgrade yesterday, investors will be closely watching the bond auction to see if Italy's borrowing costs will go up further • Should demand for Italian bonds come in low, the euro could extend its losses against the USD and JPY US PPI- 12:30 GMT • The Producer Price Index (PPI) is forecasted to come in at -0.5%, well above last month's -1.0% • If today's news comes in as forecasted the dollar could see upward movement against the JPY before markets close for the week Read more forex news on our forex blog

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 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 5.6.12 Posted: 05 Jun 2012 12:56 AM PDT The euro continued its upward movement in overnight trading, eventually reaching a one-week high against the US dollar. Today, traders will want to pay attention to the results of the G7 meetings, as they are expected to focus on the euro-zone debt crisis. Any positive developments could help the euro extend its recent bullish trend. Main News for Today US ISM Non-Manufacturing PMI-14:00 • Following last week's disappointing Non-Farm Payrolls, investors will be watching this indicator closely • Should it come in below expectations, it may lead to fears that the Fed will initiate a new round of quantitative easing, which could cause the dollar to extend its recent losses. Read more forex news on our forex blog

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 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.

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.

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