Forexyard Analysis

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Forexyard Analysis - Greenback Touches 2009 Low vs. Currency Basket

The Dollar fell to its lowest levels this year on Monday after the Institute for Supply Management's index on U.S. manufacturing improved more than expected in July. Along with some better earnings reports from foreign banks, the data supported equity markets and spelled trouble for the U.S. currency because investors no longer desire its safe-haven status.


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Forexyard Analysis - USD's Bearishness at an End? Today's News May Tell

With a chain of bearish trading sessions, the US Dollar has been bouncing the forex market up and down lately. With increased risk appetite and growing market optimism, market conditions are allowing traders to pull away from the safety of the USD. On the other hand, however, today's housing, manufacturing and employment data from Britain and the United States will provide enough market news to halt current trends and create short-term reversals, or push current trends even further. If we see negative data across the boards, the USD may very well return to a bullish posture as risk aversion returns.


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Forexyard Analysis - European and British Interest Rate Announcements on Tap

The Bank of England (BOE) and the European Central Bank (ECB) are set to release their policy statements regarding short-term interest rates at 11:00 and 11:45 GMT respectively today. These announcements always generate heavy market volatility and forex traders should be on guard today, ready to capture these fantastic money-making opportunities!

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Forexyard Analysis - U.S Non-Farm employment Change Set to Determine USD Volatility

The U.S. Dollar is expected to go extremely volatile today on the release of the ever so important U.S. Non-Farm Employment Change at 12:30 GMT. The other releases that are expected to drive trading between the USD and its main crosses today are the British PPI Input at 08:30 GMT, the U.S. Unemployment Rate at 12:30 GMT, and the Canadian Unemployment Rate at 11:00 GMT. Forex traders are advised to open their USD positions now, prior to the release of the vital economic data from the leading economies.

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Forexyard Analysis - Dollar Continues to Rise on Jobs Boost

The movements we saw during Friday's trading session may have been exaggerated and may be reversed. Today is a quiet news day for the U.S. as there are no major economic data releases on the calendar today. However, Britain and Euro-zone appear to be releasing the bulk of today's news, which means we may see a day of trading with low liquidity and therefore increased volatility. Day-traders can take advantage of these intense trading days by swinging within the larger-than-normal price fluctuations.


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Forexyard Analysis - Dollar Rallies vs. Most Rivals but Loses against the Yen

Traders moving assets to safer, lower yielding currencies appear to be playing a factor in the correction of the major crosses. The USD and JPY, which are seen as a safer bet than others currencies in times of market stress, will likely keep drawing demand as investors stay away from riskier assets.

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Forexyard Analysis - JPY This Week's Lead Investment; US Federal Funds Rate Today!

During yesterday's trading, the Yen continued to be the dominant currency in the forex market. Whilst most of the major currencies tended to fluctuate without marking a sustained trend, the JPY strengthened on all fronts, and currently looks to be this week's top investment. During today's trading, the most fascinating data will come at 18:15 GMT, as the Federal Funds Rate for August will be announced. The main question is whether the Fed will hike rates in light of recent positive economic data. Such a turn of events could create mayhem in the market, and traders are advised to be prepared.

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Forexyard Analysis - USD Setback Could Change Course Following Today's Retail Sales

After suffering a mild setback following the release of yesterday's Federal Funds Rate policy statement, the USD now seems poised for a come-back. At the opening of the US market today at 12:30 GMT, traders will catch a glimpse of US retail sales and unemployment claims which are both expected to show a continuation of growth in the United States helping the USD regain some of yesterday's losses.

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Forexyard Analysis - Dollar Anticipates Release of U.S. Core CPI

The U.S. Dollar anticipates the release of U.S. Core CPI at 12:30 GMT. The reason this publication is so important is due to it being a leading measure of U.S. economic growth and inflation. A positive figure is likely to help the USD gain strength throughout today's trading. The USD will also be affected by its yesterday's bearishness, as there may be a slight correction in the greenback. Traders should open their USD positions now in order to make maximum profits from end-of-week trading.

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Forexyard Analysis - USD Recovers on Friday's U.S Consumer Sentiment Depreciation

The U.S. dollar gained versus the EUR but extended losses against the Japanese yen on Friday after the U.S. consumer sentiment index unexpectedly declined in early August. The data pushed U.S. stocks lower, aiding the Dollar which has tended for months to move in the opposite direction as equities as investors' willingness to buy riskier assets fluctuates. Traders said that the risk aversion is back with the U.S dollar strengthening against the EUR and British pound but weakening against the Japanese yen.

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Forexyard analysis - Greenback Trades Lower Ahead of the U.S Housing Starts Report

The U.S dollar came slightly off highs against major counterparts on Monday, after a report that showed improved manufacturing conditions in the New York region in August. The Dollar earlier received a boost as commodities sold off following a sharp drop in Chinese equities overnight. Today the greenback declined before the Commerce Department reports housing data at 12:30 GMT on speculation the U.S recession probably eased further. The impact of a stronger- then-expected number will be positive from a risk point of view, analysts said, hence reducing demand for the dollar as a refuge.

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Forexyard Analysis - European Currencies on the Rise along with Risk Appetite

Yesterday's sudden boost in equity markets world-wide has helped drive many of the riskier currencies, such as the EUR and GBP, higher versus their primary currency rivals. Safe-havens such as the Dollar and Yen took a small beating yesterday as well from this news. With investor confidence on the rise in Europe, a rally for the European currencies may be overdue. This in turn could also push commodity prices higher in the short-term.

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Forexyard Analysis - BOE Reveals Doubt over Short-Term Recovery

Yesterday's bearish behavior by the GBP was felt by many traders as the Bank of England's (BOE) Monetary Policy Committee (MPC) released the minutes from a recent meeting regarding interest rates and quantitative easing. There was a hint of dissension among the policymakers with some calling for a greater extension of the quantitative easing program which ended up pumping an additional 50 billion Pounds into the UK market recently. Fears over weak inflationary growth and market downturns have some MPC members lobbying for more aggressive measures, which puts pressure on the Pound.

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Forexyard Analysis - USD to Go Volatile on U.S. Homes Sales and Bernanke Speech

The U.S. Dollar is expected to go volatile today on U.S. Homes Sales data and the speech by Federal Reserve Chairman Ben Bernanke at 14:00 GMT. Bernanke is expected to discuss the economic crisis and recovery. With regards to the home sales data, the figure is expected to rise to 5.03 million, up from the previous figure of 4.89 million. Forex traders should follow both of these events closely as they are set to determine the USD's main crosses for Friday's trading.

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Forexyard Analysis - Will the Dollar's Bearish Trend Continue this Week?

Last week marked a sharp drop in the Dollar's value, especially against the EUR and the CHF. The biggest question for this week is whether the Dollar will continue to see bearish trends against the major currencies, or reverse. It seems that the upcoming data from the U.S. economy will play a main role in this week's trading, and traders are advised to follow these main publications closely.

Read the complete in depth forex analysis of today at our forex news center

 

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Forexyard Analysis - U.S Consumer Confidence Will Determine Today's Trend

Today's U.S. Consumer Confidence data release is set to dominate the trading between the Dollar and its major currency pairs. A number of other factors are also likely to impact the forex market today, such as the British BBA Mortgage Approvals at 8:30 GMT. The results of today's data are likely to determine the USD's trend going into the rest of the week's trading.

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Forexyard Analysis - Crude Oil Plummets on Profit Taking

Later afternoon trading saw the price of Crude Oil take a nose dive as traders took profit. The price of Oil stalled at the $75 resistance level and fell significantly following the failed breach. Today traders will be tracking the release of the U.S. Crude Oil Inventories data along with the New Home Sales numbers for today's market direction.

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Forexyard Analysis - Dollar Benefits on U.S. Economic Data; Today Traders Focus on th

The U.S dollar gained ground Wednesday against the EUR and the British pound, after strong data on orders for new U.S.-made durable goods and new home sales comforted expectations of an improvement in the economy. The greenback traded higher after the durable-goods orders report said orders for July rose by 4.9%, the largest increase in 2 years. Investors will be watching for the new U.S. jobs report today before making significant moves.

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Forexyard Analysis - U.S. Consumer Spending Report at Forefront of Forex Trading Toda

Forex trading to today are set to be driven by a batch of data from both the U.S. and Britain. The main release from the U.S. today that traders are waiting for is the Consumer Spending, also known as the Personal Spending report from the U.S. at 12:30 GMT. Forecasts put the figure at roughly 0.2% in July, about half the increase of June. However, the rise is mainly owed to the cash-for-clunkers program. Despite this, a positive figure may actually hurt the USD, as such a result could increase risk appetite. Therefore, in order to take advantage of end-of-week market behavior, open your positions in the USD, EUR, and GBP now.


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Forexyard Analysis - Forex Traders Anticipate Heavy News Week

The dollar was slightly more volatile over the past week than usual, and the explanations for this have been getting trickier by the day. As for this week, forex traders are advised to take positions on trades, as a string of data releases coming out of U.S., Europe and Japan are likely to affect the greenback's main currency crosses.

Read the complete in depth forex analysis of today at our forex news center