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But Traders May WantTitle:
YouTradeFX Daily Market Analysis : 07/02/2012
Fundamental News:
Today's highlight;
· Fed Chairman Bernanke Testifies. (US, 15:00, GMT)
The EUR/USD is trading down at 1.3055 from early 1.3085, having been as low as 1.3028. European trading was a worrisome as investors could not decide what was happening. News from Greece was not promising.
Greece failed to agree on new austerity measures across political parties yesterday, a requirement for the proposed bailout to avoid default in March. There was some progress on bank ...
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Analysis: Brent premium to U.S. oil set for another blowout?
(Reuters) - Brent crude's premium to U.S. oil could be poised for another record run after jumping 50 percent over the past week, as an expected build in Midwest inventories again exerts pressure on the U.S. benchmark.
The Brent-WTI spread, which measures the difference between London-based Brent and the U.S. benchmark West Texas Intermediate (WTI), has jumped past $19, up sharply from near $12 at the start of last week.
With U.S. refiners starting seasonal maintenance just as a major pipeline ...
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Jobless rate at 3-year low as payrolls surge
(Reuters) - The United States created jobs at the fastest pace in nine months in January and the unemployment rate unexpectedly dropped to a near three-year low, giving a boost to President Barack Obama.
Nonfarm payrolls jumped 243,000, the Labor Department said on Friday, as factory jobs grew by the most in a year. The jobless rate fell to 8.3 percent - the lowest since February 2009 - from 8.5 percent in December.
The gain in employment was the largest since April and it far outstripped the ...
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US Non-Farm Payrolls Set to Generate Heavy Volatility
Today's US Non-Farm Payrolls figure, widely considered the most significant economic indicator on the forex calendar, is set to generate heavy trading today. At the moment, analysts are predicting that the US added somewhere around 150K jobs in January. Should the final result come in below expectations the USD may come under renewed pressure to close out the week.
Economic News
USD - Negative Euro-Zone News Gives USD Temporary Boost
Fresh concerns regarding Greece's debt negotiations sent ...
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Manufacturing Growth Continues
I have to tell you what’s on my mind this morning after watching the price action again yesterday… I know, it’s just me, and no one else in the writing/analyst world will tell you this, because they have no proof… I don’t either, but that never stops me from saying what’s on my mind regarding these markets now, does it?
After watching time and time again, the overseas markets take the dollar to the woodshed, and then when the New York traders come in, the price action all gets reversed. I ...
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EUR Bullish After EU Bailout-Fund Agreement
The euro staged a small but significant upward correction during European trading yesterday, following an agreement among euro-zone leaders to set up a permanent bailout fund. The news briefly lifted the EUR/USD above the 1.3200 level, but the pair was not able to sustain its bullish momentum and began falling shortly after. Today, traders can expect heavy volatility in the marketplace ahead of the US ADP Non-Farm Employment Change at 13:15 GMT. A better than expected figure could help the USD ...
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USD Bearish Ahead of Heavy Trading Week
The US dollar closed last week on a bearish note, as it took significant losses against most of its main currency rivals, including the euro and Japanese yen. The dollar began to decline during the middle of the week, following an announcement from the Fed saying that record low US interest rates would likely remain for the next several years. A softer than expected US Advanced GDP figure on Friday only caused the currency to drop further. This week, all eyes will be on the US Non-Farm ...
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Forecast: No Hope for Euro in 2012?
The euro had a rough time since the recession in 2008. Some people even talked about disintegration of the shared 17-nation currency. Such talks receded in 2010, but returned in 2011, though there are not many analysts who believe in a collapse in the eurozone, at least in the near future. Unfortunately for those traders who want to be bullish on the euro there are not many reasons, if any, to be optimistic about the currency.
The credit crisis in European countries continues to threaten the ...
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EUR Extends Gains against Main Currency Rivals
Following yesterday's bullish run for the euro, the currency will attempt to extend its gains in trading today. Investor confidence in the euro steadily increased throughout the day yesterday, as details of a Greek deal to restructure its debt were released. Should confidence in the euro-zone recovery continue, the common currency may be able to prolong its bullish movement in the coming days.
Economic News
USD - Greenback Bearish Ahead of Fed Meeting
Following the losses the US dollar took ...
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