Fundamental Analysis

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    November 20 2012 1:17 PM

    The dollar consolidated within its recent ranges overnight as markets turn choppy ahead of the Thanksgiving holiday this Thursday. Investors remain encouraged by yesterday’s comments from the Obama administration and congressional leaders that they are confident a deal on the so-called “fiscal cliff” will be reached before the December 31st deadline. However, actions speak louder than words in this case with little concrete progress leaving investors largely in a wait-and-see mode today. Data has been supportive with both housing starts and building permits coming in better than expected at 894K and 866K respectively, but the uptick may prove temporary with the possible elimination of several key tax deductions being floated on Capitol Hill. Nevertheless, housing starts reached a four-year best in October, suggesting that the housing recovery is gaining steam. Investors will be paying close attention to Fed Chairman Bernanke’s speech before the Economic Club of NY due later this afternoon, with particular interest in possible guidance on future monetary policy and the Fed’s view on the fiscal cliff.

  • Weekly Summary on USD, EUR, JPY, GBP, AUD, CAD and RMB

    November 19 2012 1:56 PM

    The dollar begins the week on the defensive as optimism builds that lawmakers are nearing a deal on the so‐called “fiscal cliff,” thus crimping demand for its relative safety. Stocks and commodities are staging a relief rally this morning as the risk‐on trade gains momentum, prompting investors to seek higher yields elsewhere. Early Monday, President Obama told reporters that he was “confident” that an agreement would be met to avert triggering automatic spending cuts and the end to current tax breaks that would likely send the economy back into recession.

  • ICM Capital UK Launches Moneybookers payment solution

    November 19 2012 7:33 AM

    ICM Capital UK, a leading provider of online foreign exchange and commodity trading services is pleased to announce it has increased the payment options it offers its clients. Traders have now been provided with the possibility of transferring funds in several ways for their convenience.

  • EUR/USD Fundamental Outlook @ ForexAbode Analysis

    November 18 2012 3:25 PM

    The EUR/USD fundamental outlook is updated weekly and is one of the base of the weekly analysis/forecast for EUR/USD. This is mainly derived from the recent major economic releases and news. The EUR/USD economic strength meter at the bottom shows the relative strengths or weakness of the currencies depending on the recent economic releases/news.

  • GBP/USD Fundamental Outlook @ ForexAbode Analysis

    November 18 2012 3:18 PM

    The GBP/USD fundamental outlook is updated weekly and is one of the base of the weekly analysis/forecast for GBP/USD. This is mainly derived from the recent major economic releases and news. The GBP/USD Economic Strength Meter at the bottom shows the relative strengths or weakness of the currencies depending on the recent economic releases/news.

  • AUD/USD Fundamental Outlook @ ForexAbode Analysis

    November 18 2012 3:11 PM

    AUD/USD fundamental outlook is updated weekly and is one of the base of the weekly analysis/forecast for AUD/USD. This is mainly derived from the recent major economic releases and news. The AUD/USD Economic Strength Meter at the bottom shows the relative strengths or weakness depending on the recent economic releases/news.

  • USD/JPY Fundamental Outlook @ ForexAbode Analysis

    November 18 2012 3:03 PM

    The USD/JPY fundamental outlook is updated weekly and is one of the base of the weekly analysis/forecast for USD/JPY. This is mainly derived from the recent major economic releases and news. The economic strength meter at the bottom shows the relative strengths or weakness of the currencies depending on the recent economic releases/news.

  • US Dollar-Swiss Franc (USD/CHF) Fundamental Outlook

    November 18 2012 2:54 PM

    USD/CHF fundamental outlook is updated weekly and is one of the base of the weekly analysis/forecast for USD/CHF. This is mainly derived from the recent major economic releases and news. The USD/CHF Economic Strength Meter at the bottom shows the relative strengths or weakness of the currencies depending on the recent economic releases/news.

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    November 16 2012 4:10 PM

    The dollar is higher against nearly all of its major counterparts this morning as President Obama meets with Congressional leaders to discuss the so-called “fiscal cliff.” However, with a Republican held House and a Democratic majority in the Senate, investors are expecting negotiations to be contentious. While both sides of the aisle have made it clear that they hope to avoid triggering automatic tax hikes and spending cuts scheduled for early 2013, policymakers are still far apart on several points of contention.

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    November 15 2012 12:34 PM

    The dollar is sharply mixed this morning, falling against most of its European counterparts while extending its recent gains against the JPY and other Asian currencies. Stocks and commodities are struggling to break even after US weekly jobless claims surged last week to 439K. While the number is far higher than the 375K that was expected and up from last week’s 361K, the unanticipated spike is likely reflective of Hurricane Sandy and the negative impact it had on business up and down the East Coast. Nevertheless, a rebound is likely as local residents and businesses ramp up the recovery efforts.

  • UFXMarkets *Daily Forex Currency Trading News*15-November-2012

    November 15 2012 7:30 AM

    For more currency & commodity news & info, visit http://ufx.co/UFXM-youtube...The US Dollar gained versus most of the majors after the disappointing U.S.economic data

  • Japanese Yen News: USD/JPY, EUR/JPY

    November 15 2012 5:33 AM

    Asian Markets traded lower on Thursday as investors reacted to the prospect of drawn-out negotiations over the looming U.S. “fiscal cliff” by shedding riskier assets, but Japanese equities defied the trend as a sharp slide in the yen lifted exporters’ shares.

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    November 14 2012 12:41 PM

    The dollar begins the day mixed as stocks and commodities diverge. Stocks took an early hit after disappointing economic data was released, but commodities are mostly higher as the longer term outlook for the economy continues to improve. PPI data unexpectedly contracted by 0.2% – the first decline in five months – far off last month’s 1.1% gain and short of the 0.2% rise that was expected for October. Prices remained subdued last month as a drop off in demand from elsewhere around the globe outdid a pickup in activity in the US. Meanwhile, retail sales declined for the first time in four months at -0.3%, but the data is heavily skewed by the impact Hurricane Sandy had on the Northeastern part of the country towards the end of the month.

  • London Session: EURUSD ignores protest risks

    November 14 2012 10:32 AM

    The euro is climbing to its highest levels of the week. FX traders seem to be able to shrug off the mass protests going on in Spain and Italy and instead are breathing a sigh of relief that Greece won’t default on Friday when it is due to pay a EU5bn bond redemption payment. It also has a EU5bn payment due next month, so this uncertainty around Greece could last some time especially with the next tranche of bailout funds still hanging in the balance. Right now it appears that Greece will get the extra EU 1 bn it needs to meet Friday’s financing needs after auctioning EU4 bn of T-bills yesterday. That is all well and good, but this rally doesn’t smell right to us, and we believe people will still choose to sell into strength.

  • Fundamental Update: What to expect from the Bank of England Inflation Report

    November 14 2012 7:32 AM

    At 1030 GMT this morning Bank of England Governor Mervyn King will deliver the last Inflation Report of 2012. This report will include the Bank’s economic assessment along with its projections for inflation and growth for the next two years.

  • Weekly Summary on USD, EUR, JPY, GBP, AUD, CAD and RMB

    November 13 2012 1:10 PM

    The dollar is off to a strong start to the week, gaining against most of its most actively traded counterparts as stocks and commodities fall on renewed fears over Eurozone debt and the US fiscal cliff. With the risk‐off trade gaining momentum, investors are increasingly attracted to the USD’s relative safety and the US economy’s general outperformance compared with its European counterparts in particular. Moreover, with apparent progress being made in Congress towards avoiding the so‐called “fiscal cliff”, the argument against holding US assets has weakened considerably. With President Obama having secured a second term in office, politicians can get down to brokering a deal with both sides of the aisle recently signaling their willingness to compromise.

  • London Session: Strong prices send GBPUSD higher

    November 13 2012 8:13 AM

    The markets are digesting the news out from Brussels that the Eurogroup meeting of finance ministers’ kicked the can down the road yet again last night and a decision won’t be taken on whether Greece can get its next tranche of bailout funds until November 20th. No wonder European finance chiefs need extra time, they did agree to extend Greece’s fiscal targets by 2 years, however that increases its funding requirements by $40bn between next year and 2017. At this stage it appears that Greece won’t be cut lose and the currency bloc will come up with the money to keep Greece afloat at least until the start of 2013. However, Greece’s fiscal hole is a bit like a bottomless pit and it is hard to see creditor nations like Germany being able to constantly tap tax payers for more money as an election looms for Chancellor Merkel next year.

  • UFXMarkets *Weekly Forex Currency Trading News*12-November-2012

    November 12 2012 6:48 AM

    The Dollar gained versus most majors as risk aversion grew amid fiscal cliff worries

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    November 09 2012 1:55 PM

    The dollar looks to end the week on a high note against most of its peers as stocks and commodities struggle to maintain early gains. Consequently, the dollar remains well supported towards the top of its recent ranges as investors are attracted to its relative safety. On the data front, U. of Michigan confidence came in better than expected, rising to 84.9 – a five year high – from 82.6 in the last reading. A more modest gain to 82.9 was expected. An improved labor market, lower gas prices and rising home values are all supportive of the increase in confidence. While US companies struggled to post profits in the second and third quarter, the improving outlook could be positive foreshadowing ahead of the busy holiday season. In further signs of improvement, wholesale inventories gained by 1.1% - the most in a year – even as sales increased. Import prices also unexpectedly rose in October by 0.5% as pervasive USD weakness, against Asian currencies in particular, pressured costs. Investors will take note of PPI and CPI data due next week to see if these cost increases are trickling through to the consumer.

  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    November 09 2012 4:45 AM

    The dollar extended its recent gains overnight against many of its major counterparts as a worsening outlook for Europe supports the risk off trade. Despite its own set of persistent issues, the US economy looks relatively healthy as compared with the Eurozone in particular. Data released this morning showed continued improvement in the US labor market with weekly jobless claims unexpectedly dropping to 355K from the 363K recorded last week. Similarly, continuing claims dipped lower, falling to 3127K, the best reading since the fall of 2008. Meanwhile, the trade deficit unexpectedly narrowed to -$41.5B from -$43.8B in the previous reading as exports unexpectedly climbed to a record high. Growing demand for US goods – energy in particular – from emerging markets in South and Central America are largely making up for the drop off in demand from Europe.