Friday, August 3, 2012

FOREXYARD: Forex News Blog

FOREXYARD: Forex News Blog

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Will the ECB Unveil New Plans to Boost the Euro-Zone?

Posted: 02 Aug 2012 02:03 AM PDT

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At FOREXYARD, we believe in keeping our clients prepared for potentially significant news events. As such, traders will want to pay careful attention to the ECB Press Conference, set to take place today, August 2nd at 12:30 GMT. The press conference is typically the platform where the ECB indicates any change in policy or euro-zone interest rates. As can be seen in the chart below, the DAX 30 saw significant volatility following the June 6th press conference.
DAX 30 1.8

Don't miss out on another opportunity to capitalize on market volatility!

Analysts are predicting that the ECB will unveil new plans to boost the euro-zone economic recovery at Thursday's press conference. Any mention of a new initiative to lower borrowing costs in Spain or Italy could lead to major gains for the euro. This is an excellent opportunity for forex traders to take advantage of potentially significant news, so don't miss out!

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Market Review 2.8.12

Posted: 02 Aug 2012 01:59 AM PDT

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The dollar largely maintained its gains from yesterday afternoon during the overnight session. The greenback was able to benefit from risk aversion in the marketplace after the Fed refrained from announcing new measures to stimulate the US economic recovery. The FOMC Statement also resulted in crude oil and gold turning bearish during the evening session, neither of which were able to stage an upward correction during Asian trading.

Main News for Today

Spanish 10-Year Bond Auction
• If the bond auction shows that Spanish borrowing costs have gone up further, the euro could extend last night's bearish trend

ECB Press Conference- 12:30 GMT
• The press conference is expected to be the highlight of the trading day, and could generate significant market volatility
• Investors are anxiously waiting to see if the ECB will initiate a new round of bond-buying to lower borrowing costs in Spain and Italy
• If new measures are announced today, the euro could see substantial gains for the rest of the day
• If no new measures are announced, the euro could see bearish movement during afternoon/evening trading

Read more forex news on our forex blog

Market Review 1.8.12

Posted: 01 Aug 2012 01:26 AM PDT

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The euro remained stable against its main currency rivals during overnight trading, as investors remained eager to see what, if any, steps the ECB is planning to take to boost growth in the euro-zone when they meet on Thursday. Crude oil fell as low as $87.49 last night, down close to $3 a barrel from yesterday afternoon, amid fears that the US Federal Reserve will not initiate a new round of quantitative easing to boost the US economy. The commodity has since staged a mild recovery and is currently trading just below the $88.20 level.

Main News for Today

ADP Non-Farm Employment Change- 12:15 GMT
• The ADP figure is considered an accurate predictor of Friday's all important Non-Farm Payrolls figure
• Should the news come in above the expected 121K, the USD could rally during mid-day trading

US Crude Oil Inventories- 14:30 GMT
• Analysts are predicting that US crude stockpiles fell be 1.5M last week
• If true, investors may take it as a sign of increased demand in the US, which could boost the price of crude as a result

FOMC Statement- 18:15 GMT
• Investors will be closely watching the FOMC Statement to see if the Fed will unveil any new plans to boost the US economy
• Any mention of a new round of quantitative easing could lead to risk taking in the marketplace, which would in turn lead to losses for the USD

Read more forex news on our forex blog
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