Dec 09 05:40 GMT


Forex Expos

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."

EURUSD: Preparing To Retrace The Recent Losses? Print E-mail
Daily Forex Fundamentals | Written by Blackwell Global | Dec 09 16 04:50 GMT
The Euro Dollar took a relatively strong hit overnight as news that the ECB would be extending their quantitative easing, whilst also reducing the buying limits, was released and immediately saw the pair touching levels not seen since the Brexit. Initially, the QE announcement kicked off a veritable rout which took the pair all the way through the 1.07 and 1.06 handles to currently trade around the 1.0593 mark. However, there are some encouraging technical signals which could suggest that a retracement may be in play over the next few days.
AUDNZD Reversal On The Cards Moving Ahead Print E-mail
Daily Forex Fundamentals | Written by Blackwell Global | Dec 09 16 04:48 GMT
The AUDNZD could be setting up for another push higher now that it has confirmed the downside of its medium-term chart pattern. However, it may be worth looking at some of the other technical data given the fundamental uncertainty surrounding the pair. Specifically, the recent quarterly contraction in the Australian GDP numbers and the surprise resignation of the NZ Prime Minister has both sides of the equation under pressure, leaving the pair somewhat exposed to technical biases.
ECB Review: Less 'Punch in the Bowl' from Draghi Print E-mail
Daily Forex Fundamentals | Written by Danske Bank | Dec 09 16 02:19 GMT
The ECB extended its QE purchases by nine months to December 2017, but reduced the monthly purchases to EUR60bn from EUR80bn. The lower pace of purchases followed, according to the ECB, as the risk of deflation has now largely disappeared (the reason why the pace of purchases was temporarily lifted). President Draghi said the nine-month extension followed, as the ECB wants to signal a sustained presence and no near-term tapering.
Tapering Wrapped in a Lovely Bow Print E-mail
Daily Forex Fundamentals | Written by MarketPulse | Dec 08 16 15:24 GMT
The ECB announced today that it will begin tapering (or not as Draghi later claimed, just something that strongly resembles it) its asset purchases from April next year in a clear sign that it is reaching the limits of what it is willing to do under the bond buying program. It's clear that there were other options available to the ECB today and yet, there was not the support within the monetary policy committee to enact such changes.
Canadian Housing Starts Dipped to a Three-Month Low in November Print E-mail
Daily Forex Fundamentals | Written by RBC Financial Group | Dec 08 16 14:54 GMT
November's reading marks a second consecutive monthly decline following September's unexpectedly strong increase. The latest dip was concentrated in urban multiples, which fell 7.7% to their lowest level since January. Single detached starts were little changed and remained slightly above their year-to-date pace. Much of the decline in starts was in Ontario, with a 31% drop bringing starts to a year-to-date low for the province. Nonetheless, annual homebuilding in Ontario remains on course to solidly outpace 2015 activity. British Columbia provided significant offset in November with a 67% jump almost fully retracing October's substantial decline. Housing starts in the province are also on pace for a significant gain relative to the previous year.
ECB Surprise Places Euro on Chaotic Ride Print E-mail
Daily Forex Fundamentals | Written by ForexTime | Dec 08 16 14:51 GMT
The Euro/Dollar was exposed to extreme levels of volatility during trading on Thursday following the European Central Bank's market shaking decision to taper its monetary stimulus to the Eurozone from April 2017 until the end of December 2017 or beyond. Although the central bank has decided to maintain its monthly purchases by 80 billion euros until March 2017, the reduction to 60 billion euros from April 2017 till year end could spark fears of a taper tantrum potentially sabotaging growth and pressuring the ECB to take further actions. With concerns still elevated over the health of the European economy and mounting political instability from Italy weighing heavily on sentiment, investors may turn to Draghi for further clarity on why the ECB made such a move.
Canadian Dollar Unchanged, Building Permits Print E-mail
Daily Forex Fundamentals | Written by MarketPulse | Dec 08 16 13:52 GMT
The Canadian dollar is unchanged in the Thursday session. In North American trade, USD/CAD is trading at 1.3230. On the release front, US unemployment claims matched the estimate, dropping to 258 thousand. In Canada, Building Permits sparkled with gain of 8.7%, crushing the forecast of 1.6%. Housing Starts dipped to 184 thousand,shy of the forecast of 191 thousand. On Friday, the US releases UoM Consumer Sentiment Index.
Politics Not Fundamentals Guides the ECB Print E-mail
Daily Forex Fundamentals | Written by MarketPulse | Dec 08 16 12:17 GMT
Can Draghi afford to rock the boat today given what's happened in Italy and what's going on with the banks? The case for the ECB leaving policy unchanged centers around politics. ECB officials will decide the fate of their €1.7T bond-buying program that expires in March in a few hours. With investors expecting at least a six-month extension, any move to scale back the program could cause large selling in the Euro debt market and certainly spill over into the U.S treasury market.
Yen Dips on Mixed Japanese Numbers Print E-mail
Daily Forex Fundamentals | Written by MarketPulse | Dec 08 16 12:16 GMT
USD/JPY has lost ground in the Thursday session. Currently, the pair is trading at 113.40. On the release front, Japanese Current Account beat the estimate, while Final GDP came in at 0.6%, short of expectations. Japanese numbers were a mix late Wednesday. The current account surplus jumped to JPY 1.93 trillion, easily beating the forecast of JPY 1.57 trillion. Final GDP for the third quarter edged up to 0.3%, but this fell short of the forecast of 0.6%. This figure disappointed the markets, as Preliminary GDP for Q3 came in at 0.5%. This downward revision will likely renew fears of a weakening recovery.
EUR/USD – Euro Punches Above 1.08, Markets Await ECB Rate And QE Decisions Print E-mail
Daily Forex Fundamentals | Written by MarketPulse | Dec 08 16 11:27 GMT
The euro has posted gains in the Thursday session, as EUR/USD trades at the 1.08 line. On the release front, the ECB meets to set its benchmark interest rate and whether to extend the bank’s asset-purchase program. In the US, today’s key release is unemployment claims, with the indicator expected to rise to 272 thousand. On Friday, the US will release the UoM Consumer Sentiment Index.
Unthinkable For ECB To Consider Tapering Print E-mail
Daily Forex Fundamentals | Written by MarketPulse | Dec 08 16 11:26 GMT
It's been a slow start to trading in Europe on Thursday and US futures are currently trading relatively flat, as markets pause ahead of today's ECB monetary policy decision which will likely bring a healthy dose of volatility. The ECB is expected to announce an extension to its quantitative easing program, beyond the current March 2017 expiry, as it looks to continue its mission of returning inflation to below but close to 2%. It's been four years since inflation was last at 2% and five years since core inflation hit these levels so the ECB has failed miserably in regards to its mandate for some time, despite its best efforts.
European Market Update: Awaiting ECB Print E-mail
Daily Forex Fundamentals | Written by Trade The News | Dec 08 16 11:06 GMT
Focus on ECB within tight ranges ahead of the rate decision with position adjustment action seen. ECB was expected to announce a six-month extension to its quantitative easing program while keeping the size of asset purchases unchanged at €80/month. Dealers noting that it If ECB decided on QE extension without hint of tapering the EUR currency could weaken against the major pairs.
China's Export Jumped In November, ECB Decision In Focus Print E-mail
Daily Forex Fundamentals | Written by Swissquote Bank SA | Dec 08 16 11:03 GMT
After a long period of uninterrupted contraction, Chinese exports printed in positive territory - the first time since March this year when it increased 11.5%y/y - rising a modest 1%y/y (versus -5% expected) in November, while the previous month's reading was revised to the downside from -7.3% to -7.5%. In yuan terms, the measure climbed 5.9%, highlighting the effects of the strong depreciation of the renminbi in November (roughly 2% against the US dollar). Imports also surprised to the upside and surged 6.7%y/y in dollar terms (versus -1.9% median forecast), narrowing the trade surplus to $44.61.
British Industrial Production Drops Sharply In October Print E-mail
Daily Forex Fundamentals | Written by Dukascopy Swiss FX Group | Dec 08 16 08:56 GMT
British industrial production posted the biggest monthly fall in more than four years in October after the temporary shutdown of the UK's largest oilfield. According to the Office for National Statistics, industrial output declined 1.3% in the reported month, following September's drop of 0.4% and falling behind the 0.2% rise market forecast. That was the largest decline since September 2012, when the Buzzard oilfield, the biggest in the UK North Sea, was also closed for lengthy maintenance. On a yearly basis, industrial production decreased 1.1% in October, the largest contraction since August 2013. In the meantime, the country's manufacturing output declined 0.9% on a monthly basis over the period after rising 0.6% in September, while markets anticipated a slight decrease to 0.2%. Nevertheless, the UK economy has so far performed better than expected since the Brexit vote. According to the Bank of England's latest forecasts, the economy is set to expand 1.4% in 2017, compared to a 2.2% growth registered in 2016. Moreover, the Central bank forecasts a threefold increase in inflation next year. Currently, the UK inflation rate is 0.9%. After the release, the GBP/USD pair was seen trading below $1.2600, while the EUR/GBP pair rose above 0.8500.
US Job Openings Remain Relatively Unchanged In October, Crude Oil Inventories Post 2.4M Barrel Drop Last Week Print E-mail
Daily Forex Fundamentals | Written by Dukascopy Swiss FX Group | Dec 08 16 08:55 GMT
The number of job openings was little changed in October, official figures revealed on Wednesday. According to the Bureau of Labor Statistics' JOLTS survey, employers advertised 5.53 million openings, a rate of 3.7%, in the reported month, in line with analysts' expectations. Meanwhile, the September figure was revised up to 5.63 million from the originally reported 5.49 million openings. Hiring dropped to 5.1 million, whereas the number of separations decreased to 3 million. However, the data suggest that hiring is unlikely to rise in the upcoming months. The biggest declined in job openings occurred in professional and business services, which includes accountants and engineers as well as temp workers. The number of job vacancies advanced 2% over the past year, while hiring decreased 2.2%, suggesting that employers face difficulties in finding skilled workers. The following gap and low unemployment rate may force businesses to raise pay to attract workers. Other data released on the same day by the EIA showed crude oil inventories fell 2.4 million barrels in the week ending December 2, whereas analysts expected a fall of 1.4 million barrels, following the preceding week's declined of 0.9 million. After the release, WTI futures fell 1.4% to $50.20, while Brent crude declined 1% to $53.38.
Dollar Slightly In The Defensive As Rise In Core Yields Eases Print E-mail
Daily Forex Fundamentals | Written by KBC Bank | Dec 08 16 08:51 GMT
Yesterday, the dollar was initially little affected by the congruent rise of bonds and equities, but finally the decline in yields weighed. Today, the impact of the ECB decision on global yields will probably guide overall USD trading. EUR/USD is holding near important resistance at 1.0795/1.0809. Will the ECB cause a further EUR/USD correction?
No Free Lunch At The ECB Print E-mail
Daily Forex Fundamentals | Written by | Dec 08 16 08:13 GMT
Later on Thursday we get the final ECB meeting of the year, the policy decision will be announced at 1245 GMT, with President Draghi giving his press conference at 1330 GMT. No change in rates is expected, however, the key decision to watch out for is whether the Bank will extend its QE purchases beyond March 2017, when they are currently expected to expire.
Gold – The Good, The Bad, And The Ugly Print E-mail
Daily Forex Fundamentals | Written by ForexTime | Dec 08 16 08:11 GMT
Weak economies are more vulnerable to uncertainty, political extremes and populism, post-World-War Germany and Russia proved this beyond a doubt. The Gold price tracks economic uncertainty, and by that token, it also tracks the outer reaches of the populist pendulum. The more uncertainty there is over the economy, the more extreme are the pendulum's swings to the left or right, and the dollar-denominated Gold price reflects both these phenomena. In 1973, the then-US president Nixon took the country off the Gold standard, and ever since, traders have seen the asset as a hedge against uncertainty (the good), as a clear signal of economic trouble (the bad) and as a benchmark for populism and political instability (the ugly).
Silver Poised For Near-Term Bullishness Print E-mail
Daily Forex Fundamentals | Written by Blackwell Global | Dec 08 16 07:19 GMT
Silver could be about to make a serious attempt at testing the upside constraint of its bearish channel. Yesterday's rather bullish session has seen the metal soar towards a robust zone of resistance that, if broken, could lead to a short ranging phase and subsequent push towards the boundaries of the channel. As a result, it's worth taking a look at some of the technical forces currently in play which could see this outcome eventuate.
Asian Market Update: Japan Final Q3 GDP Revised Lower On Soft CAPEX Print E-mail
Daily Forex Fundamentals | Written by Trade The News | Dec 08 16 07:10 GMT
Australia's ASX200 leads regional indices higher as rising price of iron ore continues to benefit miners; S&P/ASX at 3-month high above 5,500. Nikkei225 also with a meaningful advance despite the retreat in USD/JPY amid lower US Treasury yields; In other USD majors, NZD/USD rises to 4-week high as New Zealand Treasury half-year economic and fiscal update (HYEFU) raises FY16/17 and FY17/18 GDP targets while cutting jobless rate forecast.
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