FOREX TIPS: February 2013

Saturday, February 9, 2013

FOREXYARD: Forex News Blog

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Market Review 01.02.2013

Posted: 01 Feb 2013 12:53 AM PST

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The EUR/USD shot up to a 15-month high during the Asian session last night, as confidence in the euro-zone economic recovery continued to generate risk taking among investors. Meanwhile, the Japanese yen extended its bearish trend amid speculations regarding future aggressive monetary easing from the Bank of Japan. The USD/JPY gained close to 60 pips to trade as high as 92.28.

Gold and crude oil were largely range trading throughout the overnight session, ahead of key US employment data today.

Main News for Today

US Non-Farm Employment Change- 13:30 GMT
• The Non-Farm figure is widely considered the most important economic indicator on the forex calendar
• If today's news comes in below the forecasted 161K, investor confidence in the US economic recovery may go down, which would result in losses for the US dollar
• Additionally, if today's news disappoints, gold prices may be able to stage a bullish correction before markets close for the weekend

Saturday, February 2, 2013

FOREXYARD: Forex News Blog

Market Review 31.01.2013

Posted: 31 Jan 2013 01:04 AM PST

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The euro traded just below a 14-month high of 1.3586 against the US dollar during overnight trading last night, after the Fed decided yesterday to leave their policy of monetary easing in place. Against the JPY, the common-currency lost just over 30 pips during the Asian session, and is currently trading at 123.30, slightly below a recent 2 ½ year high.

Both crude oil and gold saw relatively little movement last night, as investors eagerly await a key US jobs report tomorrow for clues as to the current state of the American economic recovery.

Main News for Today

US Unemployment Claims- 13:30 GMT
• Analysts expect today's news to show a minor increase in unemployment claims from last week
• If the predictions are true, the dollar could take additional losses against its main rivals ahead of tomorrow's all-important Non-Farm Payrolls figure

Friday, February 1, 2013

FOREXYARD: Forex News Blog

Market Review 30.01.2013

Posted: 30 Jan 2013 12:40 AM PST

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The EUR/USD shot up to a 14-month high in early morning trading today, as investor confidence in the euro-zone economic recovery continues to boost riskier assets. The pair, which is currently trading at 1.3510, has advanced close to 30 pips since the beginning of Asian trading last night.

Bearish US dollar movement last night helped gold become more affordable for international buyers, which boosted demand. The precious metal, which is currently trading at $1667.75 an ounce, gained over $5 during the Asian session.

Main News for Today

US ADP Non-Farm Employment Change- 13:15 GMT
• The indicator is considered an accurate predictor of Friday's all important Non-Farm Payrolls figure
• If today's news comes in below the forecasted 164K, the dollar could take additional losses during afternoon trading

US Advance GDP- 13:30 GMT
• The GDP figure is forecasted to show a slowdown in US economic growth
• If today's news comes in below the expected 1.1%, the dollar is likely to extend its current bearish trend

US FOMC Statement- 19:15 GMT
• If the FOMC signals a slowdown in the US economic recovery when their statement is issued, risk aversion may lead to gains for the yen against the USD