Posted by: Forex Weekly Reports (ActionForex.com)
German industrial new orders could have remained more or less unchanged in May, as the correlated indicators sent mixed signals. However, April new orders are likely to be revised downwards significantly. Output in the German producing sector will probably have decreased in May, just like most of the correlated indicators….
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Posted by: Forex Weekly Reports (ActionForex.com)
We got some mixed news out of China this past week with regards to the US dollar’s reserve status and the potential for it to be discussed at the upcoming G-8 Summit on July 8-10. On Wednesday we saw headlines that China has asked the group of eight to discuss…
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Posted by: Forex Weekly Reports (ActionForex.com)
The data picture over the past week was a bit of a mixed bag and overall disappointed markets. Equity markets slipped and bond yields fell further. Although there were no very negative numbers and the trend is still for improvement, most data were slightly below consensus expectations and market doubts…
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Posted by: Forex Weekly Reports (ActionForex.com)
This week’s economic numbers may have finally brought an end to the green shoot rally. There is only so far “less bad” economic news can take us. A sustainable recovery will require things to actually get better. This week’s big disappointment was the weaker employment data. Nonfarm payrolls declined by…
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Posted by: Forex Weekly Reports (ActionForex.com)
In this holiday shortened week where barbeques and fireworks will no doubt light up the American landscape come Saturday, the economic data refused to take any part in festive preparations. This is despite an understandably eager media and public who continue to await signs of real recovery, akin to kids…
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Posted by: Forex Weekly Reports (ActionForex.com)
The Reserve Bank board next meets next Tuesday. There is little chance the Board will decide to change rates next week. In our note last week we pointed out that the two key factors (apart from an unexpected global meltdown) that will influence the Board from this point will be…
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Posted by: Forex Weekly Reports (ActionForex.com)
Range-trading continues to be the dominant theme in foreign exchange, with volatility gradually falling further in G-10 currencies. GBP/EUR is closing today at €1.1670, firmly within the 3-week range of €1.16-€1.19. Weaker economic data (Q1 GDP growth and current account reports) had helped to trigger a move below €1.16 earlier…
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Posted by: Forex Weekly Reports (ActionForex.com)
The prevailing mood in the equity markets was favourable, and against this backdrop, EUR-USD strengthened somewhat up until the middle of the week. The single currency was mostly above 1.40, and even touched 1.42 temporarily. The movement was volatile, however.
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Posted by: Forex Weekly Reports (ActionForex.com)
Interbank and Treasury yields are mostly lower again as we ponder what comes next. Spreads between Libor and Official Interest rates are at their narrowest since the crisis erupted on our radars, pushing some money market futures contracts to new record highs (Eurodollar 99.4625 and Euribor 99.050). This dragged two-year…
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Posted by: Forex Long Term Forecasts (ActionForex.com)
As we head into the heart of the summer, markets seem to be taking a breather, with lighter trading volume, stocks and commodities holding onto recent gains (including the best quarterly gains in the stock market in 20 years), treasury yields edging off of recent highs, and currency trading bands…
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