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

    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.
  • When is a Good Time for Austerity?

    It is a basic rule of human nature not to voluntarily self inflict pain upon ourselves. If there is any way to avoid the day of reckoning, even if it means the eventual catastrophe will be much worse if we delay, we always choose to hold reality in abeyance. This principle applies to countries as well because the notion of embracing austerity on a national level goes against the grain of our collective psyche.
  • Obama Inherits Economic Hardships from Prior Administration

    This election in the scrapbook, President Obama now will focus on his legacy, it will be his priority. And he will not be remembered positively on economic issues. The deck is stacked too much against him.
  • UFXMarkets *Weekly Forex Currency Trading News*7-November-2012

    The US Dollar fell versus most majors as investors began earlier today to price in a likely
  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    USD traded flat before the US presidential election. EUR eases from its two-month low as regional data continues to disappoint. JPY is unchanged and trading in narrow ranges against the USD.
  • AUD/USD RBA keeps Key interest rate at 3.25%

    Most economists had expected a quarter-point cut to 3.0% due to concern over growth in Australia’s resource-rich economy. Falling prices for industrial commodities such as iron ore and coal last month prompted the Australian government to lower its expectations for growth over the coming year, and the central bank has signaled it may make even steeper downgrades to its forecasts in a policy statement due on 9 November.
  • Weekly Summary on USD, EUR, JPY, GBP, AUD, CAD and RMB

    The dollar begins the week higher against most of its counterparts as investors remain largely sidelined ahead of tomorrow’s Presidential election. While the most recent polls predict an incumbent victory, the contest should be a close one. An Obama win should prove rather dollarneutral, while a Republican upset could spark a rally in the greenback as investors price in a likely more conservative Fed with Chairman Bernanke unlikely to maintain his seat when his term expires in 2014. Aside from politics, the dollar is finding support in the continued general outperformance of the US economy. While not as strong as expected, the US service industry continued to expand in October with ISM non‐manufacturing coming in at 54.2.

    Economist and Hedge Fund Manager Shayne Heffernan of www.livetradingnews.com takes a look at the FX Pre-Market EUR/USD, AUD/USD, GBP/USD, USD/JPY. Two manufacturing surveys in China, released Thursday, showed improvement for the month of October, adding to signs that the world’s second largest economy may be recovering from its worst slump since the 2008 global recession.
  • UFXMarkets *Daily Forex Currency Trading News*31-October-2012

    For more currency & commodity news & info, visit http://ufx.co/UFXM-youtube... The Dollar fell versus most majors during thin trade on Tuesday as U.S. markets remained
  • EuroCrisis: Greece Moves Closer to Collapse

    All indications are that unemployment in Greece will continue to rise. The economy has shrunk by around a fifth since the recession started in 2008 and youth unemployment has pushed far above 50 percent. The economy is expected to enter a sixth year of recession next year. “This is a very dramatic result of the recession,” said Angelos Tsakanikas, head of research at Greece’s IOBE economic research foundation.
  • UFXMarkets *Daily Forex Currency Trading News*29-October-2012

    The Dollar gained slightly versus most majors as Advance GDP came out
  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    The dollar is headed into the weekend slightly lower against many of its major counterparts as positive data fuels a bit of risk taking. US gross domestic product, the broadest measure of economic activity, gained at a 2% annualized rate in the third quarter. Economists had predicted a more modest expansion of 1.8% after a 1.3% pace of growth was set in Q2. The better-than-anticipated results were largely due to a pickup in consumer spending and a surprising rebound in the housing industries. The results would have been even stronger had it not been for a drought in the Midwest with a drop in farm inventories taking away 0.4% from Q3 GDP.
  • Daily Summary on USD, EUR, JPY, GBP, AUD, CAD and NZD

    The dollar is again mixed this morning, gaining against the JPY and EUR, but losing ground versus many of its higher yielding counterparts. Investors were treated to relatively strong economic data out of the US, with a strong reading of durable goods stealing headlines. The measure rose to 9.9% after last month’s 13.1% contraction and better than the 7.5% gain that was widely expected. With the volatile transportation component stripped out, orders still came in twice what was expected at 2.0% – the first gain in four months – versus the consensus forecast for an expansion of 0.9%.
  • UFXMarkets *Daily Forex Currency Trading News*25-October-2012

    The US Dollar traded mixed versus most of the major currencies.
  • Fundamental Update: Has the UK economy turned a corner?

    The stunning 1% increase in GDP for the third quarter saw the UK exit its first double-dip recession in style. The market had expected a 0.6% increase, up from the 0.4% contraction in the second quarter.

    EUR/USD looking to short on a break forward, positions @ 1.2955 with targets @ 1.301 & 1.3045, the EU has not resolved a single issue in the last 5 years, debt levels are well beyond terminal and we value the currency at 80c USD long term, speculative long EUR positions are inherently dangerous.
  • UFXMarkets *Daily Forex Currency Trading News*23-October-2012

    The US Dollar fell versus most majors after the Spanish Prime Minister extended
  • UFXMarkets *Daily Forex Currency Trading News*22-October-2012

    The US Dollar gained versus most majors as a perceived lack of progress on a Spanish bailout