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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."



The Bank of Canada's Tune Has Changed, But the Song Remains the Same Print E-mail
Daily Forex Fundamentals | Written by TD Bank Financial Group | Oct 22 14 16:17 GMT
Importantly, the Bank of Canada has dropped its explicit reference to being "neutral" on the direction of future changes in the overnight rate. However, there seems to be something for both the hawks and the doves in this announcement. For instance, the reference to very low borrowing costs fueling consumption and housing market activity and the heightened financial stability risks posed by household imbalances may be interpreted as more hawkish. Meanwhile, the increased emphasis on downside risks to the outlook may be perceived by some as being more dovish.
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USD/CAD - Volatile on Retail Sales, BOC Statement Print E-mail
Daily Forex Fundamentals | Written by MarketPulse | Oct 22 14 15:53 GMT
The Canadian dollar is showing some volatility in Wednesday's North American session, as USD/CAD trades at the 1.12 line. It's been a busy day on the release front. Canadian Retail Sales posted a decline of 0.3%, and the Bank of Canada maintained rates at 1.0%. Later in the day, the BOC hosts a press conference and Governor Stephen Poloz testifies before House of Commons Standing Committee on Finance in Ottawa. In the US, Core CPI and CPI met expectations, as both indicators posted a small gain of 0.1%.
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Soft Consumer Inflation Backdrop Persists in September Print E-mail
Daily Forex Fundamentals | Written by Wells Fargo Securities | Oct 22 14 14:40 GMT
Rebounding from its first monthly decline in 16 months, the headline CPI edged up 0.1 percent in September as increases in food and shelter helped offset a third straight decline in energy prices. The food index rose 0.3 percent last month, maintaining the index's solid momentum exhibited so far this year. Support in consumer foods was largely driven by another strong gain in meats, poultry, fish & eggs, up 0.7 percent, and dairy & related products, up 0.5 percent - its tenth increase in the past 11 months. Prices for food at home and away from home each rose 0.3 percent on the month and continued to trend higher on a year-ago basis at 3.2 percent and 2.7 percent, respectively, as firms appear to have some pricing power in passing along increased costs to consumers (top chart). Looking ahead, as corn and other grain prices have declined on a glut of supply, food inflation pressures should ease in the coming months.
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AUD/USD - Steady as Australian CPI Remains Unchanged Print E-mail
Daily Forex Fundamentals | Written by MarketPulse | Oct 22 14 14:24 GMT
The Australian dollar has posted slight gains on Wednesday, as AUD/USD is trading at the 0.88 line. On the release front, Australian CPI held steady at 0.5%. Trimmed Mean CPI slipped to o.4% in September. Later in the day, RBA Governor Glenn Stevens will address an event in Sydney. In the US Core CPI and CPI met expectations, with both indicators posting a small gain of 0.1%.
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Global Growth to Face Flash PMI Test Print E-mail
Daily Forex Fundamentals | Written by MarketPulse | Oct 22 14 14:22 GMT
With investors growing increasingly jittery over China's economic performance of late, the October HSBC/Markit flash purchasing managers' index (PMI) due on Thursday is one traders will want to pay heed. In general, manufacturing PMIs are surveys posed to managers that answer questions regarding employment, production, new orders, prices, supplier deliveries and inventories. The size of the sample varies on the region, the organization administering the survey, and if it's an advanced (flash) or the final tally of participating managers' answers. Concerning the final count on the October PMI reading in the world's second-biggest economy, it could spur the People's Bank of China (PBoC) to pump more stimulus into the market if factory activity shows signs of slowing down.
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EUR/USD: Falling Back Print E-mail
Daily Forex Fundamentals | Written by Forex.com | Oct 22 14 14:19 GMT
This weekend the majority of European nations will be performing the yearly depressing act of setting their clocks back one hour to shift away from daylight savings time, and they can then begin preparing for a long, cold, dark winter. As the old saying goes, “spring forward; fall back” when it comes to the annual time changes. Coincidentally, the EUR/USD may be performing the same act as it has lost its upward momentum and appears to be falling back right along with the time.
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USD/JPY - Little Movement as Japanese Trade Balance Slips Print E-mail
Daily Forex Fundamentals | Written by MarketPulse | Oct 22 14 12:14 GMT
The Japanese yen is showing little activity on Wednesday, as USD/JPY trades just below the 107-range in the European session. In Japan, Trade Balance disappointed on Tuesday, posting a larger deficit than expected. There are no Japanese releases on Wednesday. Over in the US, today's highlights are CPI and Core CPI. The markets are keeping expectations low for the September readings.
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Lower for Longer as BOE Minutes Show Pessimism Print E-mail
Daily Forex Fundamentals | Written by MarketPulse | Oct 22 14 11:34 GMT
The Bank of England released the minutes from its October Monetary Policy Committee (MPC) meeting. As expected there was dissent regarding whether to keep rates at record low or to raise them to anticipate economic recovery. The vote was the same as the last MPC 7-2 in favour of holding rates. The two dissenters were Martin Weale and Ian McCafferty. Their main arguments for a rate hike were that the labour market could recover ahead of a current rate hike and that the UK economy was not affected by EU financial contagion.
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XAU/USD – Gold Flat Ahead Of US Consumer Inflation Print E-mail
Daily Forex Fundamentals | Written by MarketPulse | Oct 22 14 11:10 GMT
Gold is calm on Wednesday, as the spot price stands at $1245.94 per ounce in the European session. In the US, today’s highlights are Core CPI and CPI. The markets are keeping expectations low for the September readings. Although US economic numbers have been strong overall, the lack of inflation remains a serious concern. Last week, PPI slipped to -0.1%, its first decline in four months. We’ll get a look at consumer inflation numbers on Wednesday, with the release of Core CPI and CPI. Soft figures would be an indication of weak consumer demand, which could hamper the US recovery.
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GBPUSD: Another Dip Lower On The Rollercoaster Print E-mail
Daily Forex Fundamentals | Written by ForexTime | Oct 22 14 11:07 GMT
The Cable has already declined by over 100 pips today from the daily high (1.6130) to trade at 1.6011 at the time of writing. This downside acceleration transpired after the Bank of England (BoE) Minutes release painted a far bleaker picture on the UK economic outlook than previously expected. Although two members of the Monetary Policy Committee (MPC) voted for a rate increase for the third successive month, the language of the Minutes release were clearly dovish. Of note were comments that there have been signs of a slight loss of momentum in the UK economy, weak price pressures remain and the majority of the MPC are feeling that premature monetary tightening measures – such as raising interest rates - would leave the UK economy vulnerable to shocks.
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EUR/USD – Stable as Markets Await US CPI Data Print E-mail
Daily Forex Fundamentals | Written by MarketPulse | Oct 22 14 10:38 GMT
EUR/USD has posted slight losses on Wednesday, as the pair has dropped below the 1.27 line in the European session. The euro remains under pressure, having lost over 100 points since early Tuesday. On the release front, there are no major Eurozone releases on the schedule. In the US, today’s highlight is Core CPI and CPI. The markets are keeping expectations low for the September readings.
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European Market Update: BOE Minutes Shows Vote Remained The Same But Contents A Tad More 'Dovish', Speculation That 11 Banks Failed ECB Stress Test Print E-mail
Daily Forex Fundamentals | Written by Trade The News | Oct 22 14 10:23 GMT
Dealers continued to debate the ECB and the potential for further action. Speculation has intensified with ECB extending its covered bond purchasing program into the corporate bond market. The EUR/USD was slightly softer in the session and at 1-week lows at 1.2680 area. On Tuesday respected fund manager (Appaloosa's David Tepper) reportedly recommended shorting the euro currency
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Speculators Increase Gold Allocations Print E-mail
Daily Forex Fundamentals | Written by Swissquote Bank SA | Oct 22 14 10:00 GMT
The net long non-commercial futures on gold increased more than 20'000 contracts on week to October 14th. The rebound from $1,180 support has clearly been a trigger for short-term correction. In addition the speculators seemingly rely on lower US yields and higher physical demand to increase long gold positions in their portfolios.
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Daily Report: Will The Fed Conclude QE? Print E-mail
Daily Forex Fundamentals | Written by ForexTime | Oct 22 14 09:33 GMT
Although the majority of headlines throughout yesterday concentrated on the Chinese GDP figure of 7.3% being slightly higher than the 7.2% forecasted, the Eurodollar declined by nearly 100 pips following rumours that the European Central Bank (ECB) is considering expanding its current asset purchasing program to begin acquiring corporate bonds during 2015. While ECB officials have since denied the rumour, investors have continued to price in future stimulus from the ECB.
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Daily FX Analysis Print E-mail
Daily Forex Fundamentals | Written by Investica | Oct 22 14 08:07 GMT
During the European session, the Euro was subjected to a further round of heavy selling following a newswire report that the ECB was considering the purchase of corporate bonds and could announce the programme as early as December. There were expectations that the central bank would pursued balance-sheet expansion more aggressively which would also tend to push the ECB closer to quantitative easing. The Euro dipped sharply to the 1.2850 area before spiking higher once again following reports of an ECB rejection of the report.
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Volatility Falls As News Flow Slows Print E-mail
Daily Forex Fundamentals | Written by Swissquote Bank SA | Oct 22 14 08:07 GMT
Risk appetite returned in the Asia session as global bond yields and asset volatility both easied. The Nikkei led the regional equity indices by rallying +2.64%, the Hang Seng rose +1.22, yet Shanghai was unable to follow dropping +0.66%. The fall was due to speculation that the PBoC is likely to keep interest rate unchanged despite signals of economic deceleration (although GDP and Industrial production came in higher than anticipated yesterday). Instead the chinese central bank will rely on economic reforms rather than traditional interest rate driven monetary policy. USDJPY fell back to 106.80 from earlier highs at 107.10 as the Nikkei rallied over 15k. Elsewhere, Japan PM advisory Honda stated that the additional VAT should be delayed till Apr '17, due to the economic risk. In other Japanese data Sept trade deficit Y958.3bln, Y777bln expected, exports +6.9% y/y, imports +6.2%, +6.8% and +3% expected. AUDUSD was range bound between 0.8760 and 0.8800 with volatility increaseing around the CPI release. The RBA cut their mean estimated to CPI +0.4% qoq, +2.5% yoy. In addition Australia Sept Westpac leading index fell to 97.92 from 97.97 while Aug Conference Board LEI -0.2% to 128.9.
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Canadian Dollar Gains Ahead Of The BOC Press Conference Print E-mail
Daily Forex Fundamentals | Written by Easy Forex | Oct 22 14 08:02 GMT
The euro (EUR) slid from its high at 1.2839 all the way down to 1.2706 against the US dollar (USD). The single currency lost all previous day’s gains on speculation that the ECB may add corporate bond purchases to its monetary easing measures.
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RBA Cautious About Global Growth, Market Volatility Print E-mail
Daily Forex Fundamentals | Written by Dukascopy Swiss FX Group | Oct 22 14 07:43 GMT
Minutes of the Reserve Bank of Australia October policy meeting showed that central bankers became more focused on market volatility and global growth, with intensifying concerns over China, Japan and Europe. The RBA plans to keep official interest rates at a historic low of 2.5% until well into next year to support Australia's economy. The RBA said ongoing accommodative monetary policy should bolster demand and help growth strengthen over time. Governor Glenn Stevens has said that further cuts in the cash rate are unlikely as they would trigger a build-up of risk in the economy, where house prices have advanced an annual 14.3% in Sydney in September. The RBA last cut the official cash rate by 0.25 percentage point to a new historic low of 2.5% at the August 6 board meeting in 2013.
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ECB Considers Buying Corporate Bonds Print E-mail
Daily Forex Fundamentals | Written by Dukascopy Swiss FX Group | Oct 22 14 07:41 GMT
The European Central Bank is pondering to purchase corporate bonds on the secondary market and may make the corresponding decision as soon as December, several people familiar with a matter said. The central bank may begin buying bonds already in the beginning of next year. This would expand the recently launched private-sector asset-buying scheme, part of a private-sector asset-purchase programme that will also see it buy asset-backed securities later this year. It is estimated that the central bank could inject one trillion euros into the Euro zone's financial system. These measures are aimed at increasing lending to businesses and thereby support the Euro zone economy. However, there is concern at the ECB that these measures may have an insufficient effect to help support the economy.
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US Existing Home Sales Rise To The This Year High Print E-mail
Daily Forex Fundamentals | Written by Dukascopy Swiss FX Group | Oct 22 14 07:40 GMT
US existing home sales surged to the highest level this year in September, adding to further evidence the housing market is gradually recovering. According to the National Association of Realtors, sales of previously-owned homes rose 2.4% to an annual rate of 5.17 million units, overshooting analysts' expectations for a 5.10 million unit pace and following a decline in August to 5.05 million units. Nevertheless, despite the latest progress, the market continues to underperform. Sales remained 1.7% lower than in September last year. Housing is slowly getting back on track after activity stalled in the second half of last year after a run-up in mortgage rates. While activity in the property market continues to be subdued due to sluggish wage growth, a recent drop in mortgage rates should help bolster sales.
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