Morning Forex Report: Wild swings on the Yen
2010/08/30 - Forex Trading - 0 Comments - 221 words
Market Report: 07.00 London
Monday Morning Forex Summary:
-
European stock market futures are pointing to a positive start after late Friday evening rally in the US.
-
This comes on the back of Friday's comments from US FOMC chairman Ben Bernanke that the Fed is prepared to do whatever it takes to get the economy back on track.
-
Things were looking even better until the emergency meeting from the Bank of Japan failed to live up to expectations. Traders were hoping and looking for a bigger stimulus injection than was announced.
-
The yen has reversed its early losses on the news, with a 1% reversal on the earlier move on the AUD/JPY that actually puts the yen in credit for the day.
-
Risk appetite has swung back to cautious mode, with the EUR/USD down 0.2%.
-
It is a bank holiday in the UK today so the GBP/USD and GBP/JPY may not act as they usually do.
Click To View Full-size image
Click To View Full-size image
Commodities news : oil down, gold and silver prices up on US jobs data
2010/08/09 - Forex Trading - 0 Comments - 229 words
A lot of the attention on Friday was concentrated on the release of the payroll data and the news was hardly good as the data disappointed in many respects. The US economy is the world’s largest and, as such, is seen as a key indicator of global performance; when poor results are posted by the US government the world’s markets tend to follow suit shortly afterwards.
Friday’s announcement that job growth was minimal and did not meet expectations caused crude oil futures for September to fall markedly down $1.31 a barrel to $80.70.
Over 100,000 workers were laid off in the public sector and while analysts expected non-farm job growth of around 100,000 it only produced around 70,000 which was down on June’s results of 83,000. Unemployment claims had also risen last month and while crude oil peaked above $80 a barrel at the beginning of last week for the first time in some time the price is slipping again.
However, where the poor employment figures had a detrimental effect on crude oil prices, it had the reverse effect on the perceived safety offered by gold. Futures rose $6 to $1,205.30 in New York. As investors have also begun to turn their attention to silver, prices rose 15.1 cents to $18.472 an ounce. Copper didn’t fare so well dropping 0.3% and settling at $3.34 a pound.
Morning Forex Report : Markets in the red after US afternoon slump
2010/07/07 - Forex Trading - 0 Comments - 403 words
A market report by : Betonmarkets Market update: 06.30 GMT
US stock markets broke their seven day losing streak last night with the Dow Jones closing up 0.6% on the day. Although this seems a positive move on the face of it, the strength of the bears in the US afternoon session is noteworthy. The Dow Jones gave up 100 points into the close as buyers were unable to hang on to the early enthusiasm.
This is best seen on the Nasdaq 100, which managed to close above Monday's close, but the bears still managed to push the market lower below the open for a record 11th session in a row.
Click To View Full-size image
Markets are still jittery about the strength of the global recovery. Will the UK or US economy lurch back into recession? Or will we have the best case scenario of below trend growth?
There are concerns surrounding Europe still, particularly Spain and Greece. Germany appears to be struggling through economically, especially thanks to the weaker euro, but investors are still unnerved by the unknowns surrounding German and French banks (not to mention the Spanish regional banks).
As Der Speigel reports, the forthcoming European bank stress tests are aimed at reassuring markets, but this could have the opposite effect and torpedo confidence. Make the tests too easy and no-one will pay attention to the results, make them too stringent and it could erode confidence in the recovery.
With so many unknowns still out there, it's not surprising that the bears were able to take 100 points off the Dow's gains yesterday. The big test will be whether markets can build on yesterday for the rest of the week.
Forex markets
This morning we're back to 'risk off' mode as the late US session negativity spills over into the morning session. The main victims are the Aussie dollar and euro, though in neither case has the morning's sell off come close to erasing yesterday's gains.
Click To View Full-size image
This article and trading idea is supplied/ written by Betonmarkets
Older news.
>gets KEY CITY NEWS. Our pages bring info on online forex currency trading currencies online currency trading systems, advantages of forex currency trading software, how to trade currencies online forex brokers listings, top forex brokers, managed Forex accounts online currency trading systems,institutional Forex accounts, automated forex trading systems, retail forex trading currencies online, goforex, automatic forex trading systems, how to choose a forex broker, forex broker guide, currency trading strategies, forex trade robot, foreign exchange, multibank platforms, forex trading platform software, compare forex brokers, forex broker comparison, ECN 1 pip spread, 2 pip spread, compare ECN forex brokers