FOREXYARD: Forex News Blog

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Will the US GDP Figure Boost Riskier Assets? Posted: 29 Aug 2012 01:54 AM PDT 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 US Prelim GDP, set to be released today at 12:30 GMT. As can be seen in the chart below, after the last US GDP figure signaled a slowdown in American economic growth, risk aversion turned the GBP/USD bearish. Don't miss out on another opportunity to capitalize on market volatility! Today’s news is expected to come in at 1.7%, which would signal a moderate increase in economic growth in the US. If true, higher-yielding assets, like the EUR, AUD and crude oil could see gains as a result. This is an excellent opportunity for forex traders to take advantage of potentially significant news, so don't miss out!

Market Review 29.8.2012 Posted: 29 Aug 2012 01:44 AM PDT As investors anxiously await news regarding possible action by both the Fed and ECB to boost the US and euro-zone economic recoveries, higher yielding assets were able to maintain their recent gains in overnight trading. The EUR/USD dropped close to 15 pips, but remained within reach of a recent seven-week high of 1.2588. Gold advanced close to $4 an ounce last night, reaching as high as 1669.67, just below a recent 4 ½ month high of $1676.64. Main News for Today US Prelim GDP- 12:30 GMT • Forecasted to show slight improvements in the US economy • If true, the dollar could see gains against the yen and euro during mid-day trading US Pending Home Sales- 14:00 GMT • Expected to come in at 1.1%, significantly higher than last month's -1.4% • If true, the dollar could reverse some of its recent losses against currencies like the EUR, CAD and CHF US Crude Oil Inventories- 14:30 GMT • Crude oil has been trading steadily around the $96 a barrel level in recent days • If today's news comes in below the forecasted -1.1M, it may be a sign of increased demand in the US, which could boost the price of oil Read more forex news on our forex blog

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