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Trading Range For Today’sTitle:
EURCHF Move Provides Temporary Excitement
Forex News and Events:
Risk appetite has recovery marginally in the Asian session as the lack of Europe-negative headlines allowed risk seekers to pick up bargains. EURUSD was able to rally off the 1.2519 lows trading up to 1.2579. One of the more tangible drivers of today’s renewed positive sentiment has been the optimistic tone out of the Iran nuclear talks. A spokesman for EU foreign policy chief Catherine Ashton, stated "there is a positive atmosphere.” Oil went bid in the European session as WTI traded swiftly to $91.31. Yesterday’s move of the day was in the EURCHF where speculation on exactly what happened is still dominating conversation. After a month of inactivity around the 1.2010 level (vols compressed to nothing), EURCHF jumped suddenly over 60 pips during the European ...
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Persistent fears over debt crisis keep the euro near its lowest in 22 months
Investors continue to limit their risk exposure on Thursday, heading towards the safe haven dollar and the Japanese yen, as European leaders failed to adopt concrete actions during yesterday’s summit while manufacturing in China is seen shrinking for a seventh month in May according to HSBC.
With the risk of Greece exiting the euro zone not being eliminated by officials yesterday, the sentiment is seen negative, pushing the euro near the lowest since July 2010, especially after Italian Prime Minister Mario Monti backed French President Francois Hollande’s proposal of jointly underwrite regional bonds that Germany still opposes.
The risk remains subdued and markets trade with volatility today as data may show that Europe’s services and manufacturing industries shrank for a fourth month, ...
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Market Drivers - Currencies : 22/05/2012
Today's Comment
Yesterday, late in the afternoon, activities in the FX market increased. Safe havens were sold and particularly commodity currencies appreciated. What triggered the movement was the fact that almost all asset classes were much oversold, and given the prospects of a couple of days’ breather, investors bought risk positions. Furthermore, there were rumours of additional stimuli from the Chinese government. As mentioned yesterday, we expect to see a short period of positive to sideways trading.
With respect to macroeconomics, the following figures will be announced today:
consumer confidence indicators from the EU.
US figures for existing home sales.
GDP from Norway.
Consumer confidence is likely to disappoint since consumers in the EU are still under pressure ...
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YouTradeFX Weekly Market Analysis : 05/18/2012
Fundamental News
Today’s highlights:
· German PPI (MoM) (GER, 07:00 GMT)
· Italian Industrial Sales (MoM) (ITA, 09:00 GMT)
· Spanish Trade Balance (SPAIN, 11:30 GMT)
· Core CPI (MoM) (CAD, 13:30 GMT)
· ECRI Weekly Annualized (WoW) ( U.S, 15:30 GMT)
The Philly Fed Index tumbled to a negative 5.8 in May from a positive 8.5 in April and Conference Board's leading economic index edged down by 0.1 percent in April following a 0.3 percent increase in March, according to an official report released yesterday. While, the Labor Department figures said that the unemployment claims was at a seasonally adjusted level of 370,000 for the week, unchanged from the previous week's revised figure.
Greece’s credit rating was downgraded one level by Fitch ...
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YouTradeFX Weekly Market Analysis : 15/05/2012
Fundamental News
Today’s highlights:
· French GDP (QoQ) (FRA, 6:30 GMT)
· German GDP (QoQ) (GER, 7:00 GMT)
· French Non-Farm Payrolls (QoQ) (FRA, 7:45 GMT)
· Trade Balance (GB, 9:30 GMT)
· ZEW Economic Sentiment (EUR, 10:00 GMT)
· German ZEW Economic Sentiment (GER, 10:00 GMT)
· GDP (QoQ) (EUR, 10:00 GMT)
· Core CPI (YoY) (U.S, 13:30 GMT)
· Retail Sales (MoM) U.S, 13:30 GMT)
· NY Empire State Manufacturing Index (U.S, 13:30 GMT)
· TIC Net Long-Term Transactions (U.S., 14:00 GMT)
Foreign direct investment in China fell for a sixth month in April, as faltering global growth and renewed turmoil in financial markets dented company spending in Asia’s biggest economy. Inbound investment ...
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YouTradeFX Daily Market Analysis : 11/05/2012
Fundamental News
Today’s highlights:
- PPI Input (MoM) (GB, 09:30 GMT)
- Core PPI (YoY) (U.S, 13:30 GMT)
- Unemployment Rate (CAD, 13:30 GMT)
- Michigan Consumer Sentiment (U.S. 14:55 GMT)
The U.S. Department of Labor revealed that initial jobless claims came in at 367,000 for the week ended May 5. This was down 1,000 from the previous week's revised figure of 368,000. The Commerce Department released a report on Thursday showing that the U.S. trade deficit widened to $51.8 billion in March from a revised $45.4 billion in February.
Inflation in China eased in April, fueling expectations that the People's Bank of China may ease policy further amid slowing economic activity. The National Bureau of Statistics reported Friday that inflation eased to 3.4 percent in April from 3. ...
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Crude oil tries not to decline
Crude oil is being so volatile at today’s session after huge losses achieved during the last six sessions, the EFSF played a significant role in easing tensions today after it approved to give Greece a 5.2 billion euro tranche which eased fears over the near-term outlook for the country.
After achieving huge losses, the door is open for crude to rise slightly and any small positive factor would support it and help it in climbing upwards. And we can see this in today’s trading which showing some positivity due to EFSF’s decision.
However, this optimism that seen in Europe is temporary and would be vanished soon if nothing major comes out, as the 5.2 billion euro tranche for Greece would let the country to meet its short commitments, but what it will do for the longer commitment if lenders ...
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YouTradeFX Daily Market Analysis : 10/05/2012
Fundamental News
Today’s highlights:
- ECB Monthly Report (EUR, 09:00 GMT)
- Italian Industrial Production (MoM) (ITA, 09:00 GMT)
- Trade Balance +Manufacturing Production (MoM)+ Industrial Production (MoM) (GB, 09:30 GMT)
- Interest Rate Decision (GB, 12:00 GMT)
- Initial Jobless Claims + Trade Balance (U.S, 13:30 GMT)
- Trade Balance (CAD, 13:30 GMT)
- Fed Chairman Bernanke Speaks (U.S, 14:30 GMT)
Wholesale inventories in the U.S. rose by 0.3% (less than expected) in the month of March, according to a report released by the Commerce Department on Wednesday. Prices for single-family homes climbed in half of U.S. cities in the first quarter as real estate markets stabilized, the National Association of Realtors said in a report yesterday.
According to Bloomberg ...
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YouTradeFX Daily Market Analysis : 09/05/2012
Fundamental News
Today’s highlights:
· 10-Year Note Auction (U.S., 18:00 GMT)
· Wholesale Inventories (MoM) (U.S., 15:00 GMT)
· Crude Oil Inventories (U.S., 15:30 GMT)
· MBA Mortgage Applications (WoW) (U.S., 12:00 GMT)
Bloomberg News reported that, manufacturers in the U.S. became less- optimistic about 2012 sales growth than at the end of last year, while service companies grew more upbeat, according to a survey by the Institute for Supply Management. Purchasing managers at U.S. factories said they anticipate sales will grow 4.5 percent this year, less than a 5.5 percent December prediction, according to the Tempe, Arizona-based group’s semiannual forecast issued yesterday.
Moody’s Investors Service will this month start cutting the credit ratings of ...
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