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Forex Daily Fundamental Reports

Fundamental analysis refers to the study of the core underlying elements that influence the economy of a particular entity. It is a method of study that attempts to predict price action and market trends by analyzing economic indicators, government policy and societal factors (to name just a few elements) within a business cycle framework. For forex traders, the fundamentals are everything that makes a country tick. From interest rates and central bank policy to natural disasters, the fundamentals are a dynamic mix of distinct plans, erratic behaviors and unforeseen events. Therefore, it is best to get a handle on the most influential contributors to this diverse mix than it is to formulate a comprehensive list of all "The Forex Fundamentals."



Dollar Depressed ahead of ISM Manufacturing Print E-mail
Daily Forex Fundamentals | Written by ForexTime | Jul 01 16 12:18 GMT
Dollar bears were on the offensive during trading on Friday as the lingering Brexit anxieties heightened concerns over the Federal Reserve failing to raise US rates in 2016. US rate hike expectations have periodically declined, with the unexpected Brexit victory making it increasingly difficult for the central bank to take action. Although US data has displayed signs of improvement in the coming months, the persistent post Brexit uncertainty and ongoing concerns over the global economy could keep the Fed on standby. The Dollar may be vulnerable, and with speculations already spiraling over a potential US rate cut amid the global instability, bears may exploit this opportunity to send the Dollar Index lower.
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Safe Haven Curse: Swiss And Japanese Data Still On The Soft Side Print E-mail
Daily Forex Fundamentals | Written by Swissquote Bank SA | Jul 01 16 10:57 GMT
Switzerland's real retail sales fell 1.6%y/y in May, while previous month's figure was downwardly revised to -2.2%y/y from -1.9% first estimate, FSO's data showed. Sales have been falling since August 2015 and the trend seems to have accelerated over the last few months. Even though the gloomy global economic outlook and the effect of the strong Swiss franc may be the main driver, the unfavourable spring weather conditions may have make consumers more reluctant to spend money. The combined effects of the global uncertainty and the strong Swiss franc are also making Switzerland less attractive for foreigners, which also impact, to a certain extent, retail sales figures.
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XAU/USD – Gold Climbs As Bank Of England Says Rate Cut Coming Print E-mail
Daily Forex Fundamentals | Written by MarketPulse | Jul 01 16 10:52 GMT
Gold has posted gains on Friday, continuing the upward movement which marked the Thursday session. The metal is trading at $1332 per ounce. On the release front, today’s highlight is ISM Manufacturing PMI. The indicator is expected to remain unchanged at 51.3 points. The aftershocks in the wake of Brexit continued on Thursday, as Bank of England Governor Mark Carney said that a rate cut was imminent. Carney did not mince words in a speech on Thursday, saying that in his view 'the economic outlook has deteriorated and some monetary policy easing will likely be required over the summer'. Given the financial turmoil caused by Brexit, the markets were expecting a rate cut in the next few months, but Carney’s blunt comments soured market sentiment. The pound reacted negatively, as GBP/USD dropped 120 points. Unsurprisingly, the pound’s loss has been gold’s gain, as lower interest rates make gold more attractive. Gold has jumped 1.2% since Wednesday. The metal has been one of the big winners of the Brexit referendum, and enjoyed a spectacular month of June, surging 8.6%. With continuing uncertainty in the commodity and currency markets, the gold rally could continue into next week.
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European Market Update: Hopes For Further Stimulus Measures Print E-mail
Daily Forex Fundamentals | Written by Trade The News | Jul 01 16 10:49 GMT
GBP/USD consolidated from Thursday 300 pip slump after BOE Gov carney hinted of policy easing during the summer which markets viewed as a U-turn on rates. BOE previously noted that next likely move in interest rates was higher Dealers noted that OIS pricing surged to 61% from 34% for easing at July 14th meeting. GBP/USD steady in todays session just below the 1.33 level
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USD/CAD – Canadian Dollar Unchanged In Light Holiday Trading Print E-mail
Daily Forex Fundamentals | Written by MarketPulse | Jul 01 16 09:28 GMT
The Canadian dollar is showing little movement in the Friday session, continuing the trend seen on Thursday. USD/CAD is trading slightly above the 1.29 line. On Thursday, Canadian GDP posted a small gain of 0.1%, matching the forecast. Canadian markets are closed for Canada Day, so there are no Canadian releases. In the US, today’s highlight is ISM Manufacturing PMI. The indicator is expected to remain unchanged at 51.3 points.
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JPY Strengthens In Spite Of Weak Inflation Data Print E-mail
Daily Forex Fundamentals | Written by Swissquote Bank SA | Jul 01 16 08:57 GMT
Overnight, the Japanese yen was the best performer among the G10 complex. The JPY surged roughly 0.49% against the USD dollar amid better-than-expected inflation figures and Tankan report. However, the headline CPI kept sliding in May as it contracted 0.4%y/y after a contraction of 0.3% in the previous month but beat median forecast of -0.5%. The core gauge, which excludes fresh food and energy, matched expectations and printed at 0.6%m/m, below last month’s reading of 0.7%. The disappointing inflation data came on the back of a weak industrial production and lacklustre retail sales released earlier this week are building the case for more stimulus from the BoJ. Moreover, the Uk’s vote to leave the EU has bolstered the demand for the yen, putting at risk the faltering recovery and dampening the inflation outlook. USD/JPY dropped to 102.68 in Tokyo after testing 103.39 before the release of the inflation data. We maintain our call that the BoJ will ease further its monetary policy at its July meeting.
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Jobless Claims In U.S. Increased By 10,000 Last Week To 268,000, But Remain At Low Level Print E-mail
Daily Forex Fundamentals | Written by Dukascopy Swiss FX Group | Jul 01 16 08:46 GMT
The number of Americans filing for unemployment benefits rose last week, but remained below a level associated with a healthy labour market. Jobless claims increased by 10,000 to 268,000 in the week ended June 25, a report from the Labour Department showed. Economists had expected jobless claims to edge up to 266,000 from the 259,000 originally reported for the previous week. Continuing claims decreased for the third week in the last four. Meanwhile, the Labour Department reported the less volatile four-week moving average came in at 266,760, unchanged from the previous week's revised average of 266,750. The report also showed that a reading on the number of people receiving ongoing unemployment assistance fell by 20,000 to 2.120 million in the week ended June 18th, which is lower than the 2.15 million print penciled in by forecasters.
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Japanese Consumer Prices Fall 0.4% In May Print E-mail
Daily Forex Fundamentals | Written by Dukascopy Swiss FX Group | Jul 01 16 08:44 GMT
Japanese manufacturers' confidence deteriorated during the previous month while service-sector sentiment slowed down from three months ago due to weak consumption, confirming fears for a fragile economy affected by a strong yen and weak overseas demand. Another release confirmed that household spending dropped for the third month in a row in May, but Japanese bank sentiment reached its lowest point in 3 and a half years. Japan's consumer prices went down 0.4% in May from a year earlier for the third straight month mostly due to the lower crude oil prices, showing the biggest drop in more than three years. Meanwhile, the core consumer price index remained at 103.0 versus the 2010 base of 100.
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UK GDP Holds Steady At 0.4%, Current Account Deficit Close To A Record High Print E-mail
Daily Forex Fundamentals | Written by Dukascopy Swiss FX Group | Jul 01 16 08:43 GMT
UK economy slowed in the first quarter, dragged down by weaker business investment and a growing trade deficit. Meanwhile, the current account deficit narrowed less than expected at the start of this year. According to the Office for National Statistics, the third estimate of the UK's first quarter GDP showed that the economy expanded 0.4% on a quarter base, unrevised from the previous forecast. The following data is in line with economists' forecasts. Moreover the annual GDP growth was also unrevised to 2%, pushing the UK economy to reach 7% above its pre-crisis peak in the three months from January to March.
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Canada's GDP Edges Up For First Time In Two Months, But Headwinds Threaten Print E-mail
Daily Forex Fundamentals | Written by Dukascopy Swiss FX Group | Jul 01 16 08:39 GMT
The Canadian economy grew in line with expectations in April, as strength in manufacturing and utilities was tempered by a steep decline in nonconventional oil extraction.Canadian April's real GDP edged up 0.1% after contracting 0.2% and 0.1% in March and February, respectively, Statistics Canada reported. The freshly released figures matched analysts' expectations. Meanwhile, the economy grew 1.5% on an annual basis, slightly beating the market projection of 1.4%. Regardless, the modest gains met market expectations, economists warned that it was a temporary reprieve, as the impact of wildfires in Alberta weighed heavily on Q2.
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EUR/USD – Euro Unchanged, Euro Manufacturing PMIs Meet Expectations Print E-mail
Daily Forex Fundamentals | Written by MarketPulse | Jul 01 16 08:33 GMT
The euro is unchanged in the Friday, as EUR/USD continues to hug the 1.11 line. It’s an unusually busy Friday, so the markets will have plenty of economic data to digest from the Eurozone and the US. In the Eurozone, German and Eurozone Manufacturing PMI reports met expectations, as both indicators pointed to expansion in the manufacturing sector. Over in the US, today’s highlight is ISM Manufacturing PMI. The indicator is expected to remain unchanged at 51.3 points.
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EUR/USD Marginally Lower On ECB Rumours Print E-mail
Daily Forex Fundamentals | Written by KBC Bank | Jul 01 16 07:57 GMT
Yesterday, EUR/USD and USD/JPY again largely decoupled from the risk-on rally. The dollar spiked temporary higher against yen and the euro on romours of a change in the ECB's QE allocation. However, the USD rebound was soon reversed. Sterling remains under pressure as BoE Carney confirmed that the BoE will probably cut its policy rate in the near future.
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Sterling Pressured By BoE Doves Print E-mail
Daily Forex Fundamentals | Written by ForexTime | Jul 01 16 07:39 GMT
Sterling bears were unchained during trading on Thursday following Bank of England's Governor Mark Carney's incredibly dovish comments which cemented expectations over a probable UK rate cut in 2016. The Brexit woes have exposed the United Kingdom to downside risks while concerns remain elevated over a potential slowdown in domestic economic momentum. Even before the Brexit saga, the nation was entangled in a losing battle with static inflation and soft economic data, which dimmed optimism over a rate hike in 2016. Sentiment remains bearish towards the Sterling and any recovery in value could be difficult as investors prepare for stimulus measures implemented by the BoE. With the persistent post-Brexit uncertainty and mounting rate cut expectations haunting investor attraction towards the Sterling, bears have been gifted another opportunity to install a heavy round of selling.
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AUD/USD: Aussie Trading On A Stronger Footing In The Asian Session Print E-mail
Daily Forex Fundamentals | Written by GCI Financial | Jul 01 16 07:03 GMT
The pair is expected to find support at 0.7393, and a fall through could take it to the next support level of 0.7335. The pair is expected to find its first resistance at 0.7486, and a rise through could take it to the next resistance level of 0.7521.
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EUR/USD: Euro Trading A Tad Higher, Ahead Of The Markit Manufacturing PMI Data Across The Euro-Zone Print E-mail
Daily Forex Fundamentals | Written by GCI Financial | Jul 01 16 07:02 GMT
The pair is expected to find support at 1.1030, and a fall through could take it to the next support level of 1.0960. The pair is expected to find its first resistance at 1.1163, and a rise through could take it to the next resistance level of 1.1226.
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GBP/USD: BoE Chief Paves Way For More Stimulus Measures Print E-mail
Daily Forex Fundamentals | Written by GCI Financial | Jul 01 16 07:00 GMT
The pair is expected to find support at 1.3198, and a fall through could take it to the next support level of 1.3053. The pair is expected to find its first resistance at 1.3491, and a rise through could take it to the next resistance level of 1.3639.
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USD/JPY: Japan Large Manufacturers' Mood Remained Steady In Q2 2016 – Tankan Survey Print E-mail
Daily Forex Fundamentals | Written by GCI Financial | Jul 01 16 06:58 GMT
The pair is expected to find support at 102.34, and a fall through could take it to the next support level of 101.79. The pair is expected to find its first resistance at 103.41, and a rise through could take it to the next resistance level of 103.93.
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USD/CHF: Swiss KOF Leading Indicator Advanced In June Print E-mail
Daily Forex Fundamentals | Written by GCI Financial | Jul 01 16 06:57 GMT
The pair is expected to find support at 0.9714, and a fall through could take it to the next support level of 0.9670. The pair is expected to find its first resistance at 0.9810, and a rise through could take it to the next resistance level of 0.9862.
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USD/CAD: Canada's GDP Edged Up For First Time In Three Months In April Print E-mail
Daily Forex Fundamentals | Written by GCI Financial | Jul 01 16 06:56 GMT
The pair is expected to find support at 1.2908, and a fall through could take it to the next support level of 1.2856. The pair is expected to find its first resistance at 1.3013, and a rise through could take it to the next resistance level of 1.3066.
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Asian Market Update: China PMIs, Japan Inflation Slow Further Print E-mail
Daily Forex Fundamentals | Written by Trade The News | Jul 01 16 06:09 GMT
Asian equity markets are firmer yet again, entering the new quarter with momentum of 3 straight sessions of solid gains despite the mixed economic data. China manufacturing PMIs were disappointing, though the official Services print bounced higher. In Japan, the quarterly Tankan topped forecasts, but CPI dive into deflation territory persisted. Australia data were similarly mixed, with better AiG manufacturing against lower change in home prices. Among FX majors, USD/JPY fell about 50pips from the highs to 102.80, as improved Tankan diminished the likelihood of further BOJ easing next month. AUD/USD and NZD/USD traded within about a 30pip range above 0.7440 and 0.7120 respectively as traders eye Australia's national elections this weekend. After today's 200pip drop on BOE signal of policy easing, GBP/USD came off the US session lows of 1.3220 to rise above 1.3330.
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