All Blog Posts (1,487)

The Forex Daily Digest – July 17, 2009

The USD ended slightly weaker against most widely traded currencies yesterday, as more optimistic economic data and corporate earnings results continued to support risk appetites, even if it was at a lower level of intensity than earlier this week. Increased global acceptance for risk - which usually heightens other currencies at the expense of the safe-haven USD - remained in effect because of economic events like the solid second -quarter earnings announced by J.P. Morgan Chase, and China's… Continue

Added by Forex Daily Digest on July 17, 2009 at 7:26am — No Comments

The Forex Daily Digest – July 16, 2009

The USD traded near a two-week low against the EUR after stocks rallied on the prospects for the economy and corporate earnings, discouraging demand for the safest assets. The JPY dropped the most against the EUR since May after a report showed U.S. industrial production fell in June less than economists anticipated. Intel Corp.’s revenue outlook exceeded analysts’ estimates. The CAD rose to a one- month high against the greenback as commodities advanced.

The Dollar Index, which is… Continue

Added by Forex Daily Digest on July 16, 2009 at 7:52am — No Comments

The Forex Daily Digest – July 15, 2009

It was announced today that China's foreign exchange reserves increased at a record pace in the second quarter to top the $2 trillion mark for the first time, even as the nation's exports remained under pressure during the period because of weak global demand. The Chinese mainland's foreign exchange reserves, the largest in the world, expanded to $2.13 trillion at the end of last month, as a record $178 billion were added to the reserves during the April to June period.

This after it… Continue

Added by Forex Daily Digest on July 15, 2009 at 8:02am — No Comments

The Forex Daily Digest – July 14, 2009

A more relaxed global risk environment caused the USD to suffer moderate losses against most currencies except the JPY, although currency markets remained lightly traded. They continue to be marked by a trend toward uncertain, sideways trading. The U.S. and most other major stock exchanges strengthened yesterday, a typical indicator of better overall risk appetites which increased the demand for the other currencies, as investors set up for a series of important earnings reports from major… Continue

Added by Forex Daily Digest on July 14, 2009 at 7:38am — No Comments

The Forex Daily Digest - July 13, 2009

The week begins with a number of scheduled economic reports slated for release as well as anticipation of policy moves by the various world governments in the wake of the G8 summit last week. The USD increased in value after China said the dollar may continue dominating global trade and ruled out any impulsive changes to its foreign-exchange reserves.

The dollar gained against the AUD, JPY and CHF after the deputy head of the international payment department at the State… Continue

Added by Forex Daily Digest on July 13, 2009 at 7:30am — No Comments

The Forex Daily Digest – July 10, 2009

It’s been a busy week and the G8 comes to an end in Italy. The G8 leaders of both developed and emerging nations evaded a debate over the USD’s role in the global economy as they agreed not to devalue their currencies to support their own exports.

Officials from Brazil, India, China and Russia pushed for consideration of alternative reserve currencies, the verbiage in their joint statement on foreign exchange reaffirmed an agreement from the April summit of the Group of 20. Brazilian… Continue

Added by Forex Daily Digest on July 10, 2009 at 7:53am — No Comments

The Forex Daily Digest - July 9, 2009

Forex traders watched the Group of Eight summit being held in Italy very closely. Analysts are anticipating the G8 leaders to center their attention on ending the global recession, while improving credit and trade instead of focusing on the status of the USD. International reports out of the summit said the final statement from the G8 will detail factors that are hoped to stabilize the current economic situation.

Through it all, questions about the role of the USD as the world's… Continue

Added by Forex Daily Digest on July 9, 2009 at 8:22am — No Comments

The Forex Daily Digest – July 8, 2009

Earnings season in the U.S. now has the attention of equity investors. The next earnings season gets underway today when Alcoa (AA) reports its earnings figures for the most recent quarter after the closing bell on Wall Street. But this time around, the Foreign Exchange may also have a large impact as to how these earnings look. The fall in the USD was blamed for helping the increase in energy prices, but it will also likely play a role for some companies, providing stock investors with a… Continue

Added by Forex Daily Digest on July 8, 2009 at 7:48am — No Comments

The Forex Daily Digest - July 7, 2009

As investors continue to search for answers about a potential second half global economic recovery, many are flocking to the USD for refuge and bolstering its strength in the process. As the global stock markets take a beating, the USD has experienced support. The continued muscle for the USD will depend on the upcoming earnings season (which begins tomorrow when Alcoa releases their numbers after the closing bell) to determine whether investor confidence will be supported by the numbers - or… Continue

Added by Forex Daily Digest on July 7, 2009 at 8:51am — No Comments

The Forex Daily Digest – July 6, 2009

Holidays are over and it’s time to get back to business. The equities are showing some weakness today as global investors concern themselves with the shape of corporate earnings in the second half. Also, investors seem to be less enthusiastic to hold certain assets which are creating a modest refuge of support for the USD.

The USD traded within thin ranges against major currency counterparts, advancing on the euro but losing a bit to the yen. Normally, the JPY also benefits from… Continue

Added by Forex Daily Digest on July 6, 2009 at 8:22am — No Comments

The Forex Daily Digest – July 3, 2009

The Forex markets are trading today but as is the case when the U.S. takes a holiday, the rest of the world finds it difficult to attract any noticeable activity.

European shares traded lower with U.S. stock exchanges closed for the July 4th holiday, and utilities and metals producers are also trading lower. Data released today showed the second straight month of expansion for the British services sector in June, while euro-zone retail sales fell 0.4% in May.

The dollar… Continue

Added by Forex Daily Digest on July 3, 2009 at 1:00pm — No Comments

The Forex Daily Digest – July 2, 2009

As stocks in the U.S. began the new quarter with stable gains, market analysts are pointing to an indecisive economic climate in expressing their predictions for just how the market will do in the second half.

The Non-Farm Payrolls report showed a loss of 467,000 jobs in June, the unemployment rate rose and hourly earnings stagnated. These numbers are offering very few bits of data that the Obama administration’s stimulus package is helping the weak labor market. The payroll decline… Continue

Added by Forex Daily Digest on July 2, 2009 at 9:00am — No Comments

us non farm june 2 2009

THE EMPLOYMENT SITUATION: JUNE 2009

Nonfarm payroll employment continued to decline in June (-467,000),

and the unemployment rate was little changed at 9.5 percent, the Bureau

of Labor Statistics of the U.S. Department of Labor reported today.

Job losses were widespread across the major industry sectors, with

large declines occurring in manufacturing, professional and business

services, and construction.

Unemployment (Household Survey… Continue

Added by Adam Horak on July 2, 2009 at 8:37am — No Comments

July 01 2009 ADP

Nonfarm private employment decreased 473,000 from May to June 2009 on a seasonally

adjusted basis, according to the ADP National Employment Report®. The estimated change of

employment from April to May was revised by 47,000, from a decline of 532,000 to a decline of

485,000.

Monthly employment losses in April, May, and June averaged 492,000. This is a notable

improvement over the first three months of the year, when monthly losses averaged 691,000.

Nevertheless,… Continue

Added by Adam Horak on July 1, 2009 at 9:20am — No Comments

The Forex Daily Digest – July 1, 2009

The U.S. invested its way to an amazing second-quarter performance even though stocks' spring recovery slowed down weeks ago. The major stock indexes managed to finish the second quarter with double-digit percentage gains. But whether the market salvages its drive in the July-September period or slows again will depend on what U.S. companies have to say in the next few weeks — not just about their own earnings prospects, but the U.S. economy's outlook too.

The JPY traded lower versus… Continue

Added by Forex Daily Digest on June 30, 2009 at 8:00pm — No Comments

The Forex Daily Digest – June 30, 2009

There was good news for the dollar this morning. The USD increased after China said the dollar may continue to control global trade and ruled out any “sudden” changes to its foreign-exchange reserves. Brazil, Russia, India and China are insisting they have a bigger say in the operation of global financial institutions. Russian and China, which has almost $2 trillion of foreign-exchange reserves, called for the creation of alternatives to the USD as a reserve currency.

The euro was… Continue

Added by Forex Daily Digest on June 30, 2009 at 8:00am — No Comments

The Forex Daily Digest – June 29, 2009

This week will end the first half of the year and the situation around the global economy has taken its toll with some investment opportunities. But the Forex is unique and can be used to fill in the gaps when investing gets tough; especially when equities are soft.

In the News today -

The USD gained against the JPY after China ruled out any “sudden changes” to its foreign- reserves policy. European equities increased, bouncing back from their first back-to-back weekly… Continue

Added by Forex Daily Digest on June 29, 2009 at 8:39am — No Comments

The Forex Daily Digest – June 26, 2009

The dollar was mixed against major currencies as the initial jobless claims increased unexpectedly, while the Fed made the first move toward removing many of the emergency lending programs it started last year at the apex of the current global financial crisis. The final first quarter GDP came in a bit lower than anticipated – 5.5 percent versus 5.7 percent.

The third U.S. Treasury auction of the week helped improve the confidence that the U.S. government will be able to raise enough… Continue

Added by Forex Daily Digest on June 25, 2009 at 9:12pm — No Comments

The Forex Daily Digest – June 25, 2009

The equity markets finished mixed yesterday after a stronger-than-forecast durable-goods orders report and the statement from the Federal Reserve that hinted it would not raise interest rates anytime soon. Investors have lowered their rate-hike expectations over the last month or so. The dollar advanced against the Japanese yen but fell against the euro. Today's U.S. economic calendar includes data on weekly initial jobless claims as well as the final estimate of first-quarter Gross Domestic… Continue

Added by Forex Daily Digest on June 25, 2009 at 7:51am — No Comments

June 24 FOMC statement

(FED) FOMC Statement June 24, 2009

Information received since the Federal Open Market Committee met in April suggests that the pace of economic contraction is slowing. Conditions in financial markets have generally improved in recent months. Household spending has shown further signs of stabilizing but remains constrained by ongoing job losses, lower housing wealth, and tight credit. Businesses are cutting back on fixed investment and staffing but appear to be making progress in bringing… Continue

Added by Adam Horak on June 24, 2009 at 2:37pm — No Comments