Posted by: Forex Weekly Reports (ActionForex.com)
The greenback fell further overnight against all the major pairs and commodity-related currencies, with little relief seen in the New York session. The initial general shift in sentiment began earlier today in Europe after Moody’s scolded the US government about its lack of a plan to curb its deficit. S&P
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Posted by: Forex Weekly Reports (ActionForex.com)
The euro rose to an 11-week high at above USD1.31 Thursday after improving euro-zone economic data contrasted with festering worries that the U.S. economy is slowing. The dollar traded at its lowest point in three months against a trade-weighted basket of its competitors as investors, worried over the lack of
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Posted by: Forex Weekly Reports (ActionForex.com)
Yields are relatively static with dealers reluctant to sell bonds towards the top of the recent yield range for lack of evidence that central banks will normalize monetary policy anytime soon. Nevertheless they appear reluctant to dive deeper into the traditional safe haven offered by fixed income on signs of
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Posted by: Forex Weekly Reports (ActionForex.com)
Tomorrow’s US GDP report will show that the economy grew 2.6% quarter-on-quarter annualized aided by consumption growth of 2.6%. But while the numbers are not too shabby relative to the historical trend, given the amount of stimuli and with the economy about the shift down in gears it is certainly
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Posted by: Forex Weekly Reports (ActionForex.com)
Initial unemployment insurance claims fell -11,000 to 457,000 for the week ending July 24, partially reversing the previous week’s 41,000 rise to an upwardly revised 468,000 level (initially reported as 464,000). The drop beat market expectations going into today’s report for the level of claims to dip to 460,000. The
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Posted by: Forex Weekly Reports (ActionForex.com)
The U.S. dollar index reached its lowest point in three months as differences in the pace of recovery between the U.S. and the Eurozone rise to the surface. The latest evidence shows growing confidence within the region. Meanwhile the anecdotal U.S. regional evidence from the Fed’s 12 districts continued to
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Posted by: Forex Weekly Reports (ActionForex.com)
Domestic economic doubts are liable to increase over the next few weeks with particular reservations over the housing sector following recent data. This will represent a growing threat to Sterling as recent optimism is liable to be mis-placed. Global risk trends will also be important for the UK currency and
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Posted by: Forex Weekly Reports (ActionForex.com)
Markets are trading in a lethargic manner as participants continue to nervously take on risk-correlated trades. The move toward risk is logical because without the massive sovereign crisis fear hovering over the market like the Sword of Damocles, one needs to consider the fundamentals particularly monetary policy, as the
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Posted by: Forex Weekly Reports (ActionForex.com)
Most indicators are suggesting that risk appetite rose further this morning. European equities indices have performed well, EUR/USD is pushing higher as is AUD/USD and cable. However, the trends exhibited by the JPY and gold have been less certain. US data is patchy at best and this will likely ensure
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Posted by: Forex Weekly Reports (ActionForex.com)
Optimism is spreading throughout Europe following the release of companies’ earnings that continue to surpass market as it challenge the sovereign debt obstacles, meanwhile, UK mortgage approvals retreated beyond expectations, affected by tight credit conditions and the decline in consumer confidence and demand.
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