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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."



Canadian August GDP Unexpectedly Drops 0.1% Print E-mail
Daily Forex Fundamentals | Written by RBC Financial Group | Oct 31 14 14:36 GMT
Growth in August was expected to be held back by indications of weakening manufacturing activity. Such was confirmed in today's report with this component of GDP declining by 1.2%. This fully reversed the 1.2% increase recorded in July. The weakness was abetted by a drop in the motor vehicle parts production that occurred despite strong auto sales in both Canada and the US. This strength in demand argues against the weakness in the sector persisting going forward.
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US Personal Spending Edged Down 0.2% in September Print E-mail
Daily Forex Fundamentals | Written by RBC Financial Group | Oct 31 14 14:35 GMT
PCE edged downward by 0.2% in September 2014, thereby disappointing market expectations for a 0.1% increase following unrevised readings of 0.5% and flat in August and July, respectively. The decline was largely due to a 2.0% drop in durables spending, which almost fully retraced a 2.1% gain in August, both of which reflected a swing in auto sales. Non-durables spending fell by 0.3% in September following a 0.4% decline in August. Declines in durable and non-durables spending were flagged by a weak September retail sales report but were, nevertheless, greater than expected. Some offset was provided by a 0.2% gain in services spending, which followed a 0.5% increase in August and a flat reading in July.
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USD/JPY - Yen Plunges as BoJ Announces Stimulus Surprise Print E-mail
Daily Forex Fundamentals | Written by MarketPulse | Oct 31 14 12:58 GMT
USD/JPY has climbed sharply on Friday, as the pair trades in the mid-111 range in the European session. The pair jumped after a surprise announcement by the BoJ to increase stimulus by raising its monetary base target to JPY 80 trillion annually. In the US, today's highlight is Revised UoM Consumer Sentiment. The markets are expecting the indicator's upward trend to continue, with the estimate standing at 86.4 points.
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BoJ's Brings 'Trick or Treat' to Work Print E-mail
Daily Forex Fundamentals | Written by MarketPulse | Oct 31 14 11:58 GMT
The forex space has been waiting a long time for a plethora of monetary and policy reasons to once again ignite currency moves. For too long, CBanks no-nonsense, low rate approach had been curtailing currency ranges. The Fed's end to tapering this week supported the buck as investors focused on a robust U.S labor market and not the potential for higher rates. The RBNZ dovish remarks have the Kiwi underperforming and finally, the BoJ's overnight actions have again side swiped the market - all three have contribute to an interesting closeout to October. The net result has been a stronger dollar mostly across the board, higher equity prices and a spike in U.S yields.
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Gold Prices Sink on Strong US Numbers Print E-mail
Daily Forex Fundamentals | Written by MarketPulse | Oct 31 14 11:57 GMT
Gold prices continue to lose ground on Friday, as the spot price trades at $1174.86 per ounce in the European session. Gold has slipped to its lowest level since 2014, and has tumbled 4.4% since Tuesday. Will the dollar rally continue? On the release front, today's highlight is Revised UoM Consumer Sentiment. The markets are expecting the indicator's upward trend to continue, with the estimate standing at 86.4 points.
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Japan: BoJ Expands QE Programme In Surprise Easing Move Print E-mail
Daily Forex Fundamentals | Written by Danske Bank | Oct 31 14 11:11 GMT
In a big surprise move, the Bank of Japan (BoJ) expanded its QE programme quite aggressively in connection with today's monetary meeting. It expanded the target for the annual expansion in the monetary base (currently the main policy instrument) to JPY80trn from JPY60-70trn previously.
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EUR/USD – Euro Weakens As German Retail Sales Plunge Print E-mail
Daily Forex Fundamentals | Written by MarketPulse | Oct 31 14 10:55 GMT
EUR/USD continues to lose ground on Friday, as the pair trades in the mid-1.25 range in the European session. On the release front, it’s a busy day in the Eurozone and the US. In the Eurozone, German Retail Sales posted a sharp decline of 3.2%. French Consumer Spending came in at -0.8%. In the US, today’s highlight is Revised UoM Consumer Sentiment. The markets are expecting the indicator’s upward trend to continue, with the estimate standing at 86.4 points.
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Yen Reached Its 6-Year Low At 111 Print E-mail
Daily Forex Fundamentals | Written by Easy Forex | Oct 31 14 10:42 GMT
The euro (EUR) continues the downside as it reached a monthly low at 1.2546 against the US dollar (USD). The Fed officially ended its quantitative easing (QE) program and Fed officials believe that inflation will not be influenced by the end of QE but the increase of interest rates will help inflation to reach the target of 2%.
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Equities & USD Rally Print E-mail
Daily Forex Fundamentals | Written by Swissquote Bank SA | Oct 31 14 10:20 GMT
In the Forex market, the only trading strategy that matters is to buy USD. The USD continues to go from strength to strength. Yesterday Q3 GDP came in at a healthy 3.5% verse 3.0% expected. While the Feds hawkish statement increased the slope of the US curve, further attracting yield starved investors. Yet in Europe, most core nations are exhibiting significantly disinflationary forces, increase the likelihood of the ECB expanding its balance sheet. And somewhat unexpectedly (see our Weekly market Report), the Bank of Japan, following this week’s decision by Riksbank and RBNZ to keep monetary conditions ultra-loose. As the Fed heads toward normalization of monetary policy, most G10 nations are heading in the opposite direction. As divergence intensifies, exaggerated by Fed actually raising rates, USD will continued to be the currency of choice for most investors. Our forex trading strategy is to be long USD in the mid and long term. USDJPY was the big mover overnight, rallying to 111.47 (multi-year highs). Gold was punished as CTA trend-following commodity trading strategies, sell orders were triggered on the break of $1183. Supply in gold feels heavy so we are looking for further downside.
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European Market Update: Monetary Policy Divergence Intensifies As BOJ Eases Further Print E-mail
Daily Forex Fundamentals | Written by Trade The News | Oct 31 14 09:57 GMT
The USD strength exerted itself into the other major pairs. EUR/USD hovered around the 1.2550 area ahead of key EU employment and inflation data due out later in the session. The recent data out of Europe during the week indicated that deflation threat still lingered. Even ECB hawk Nowotny commented that never say never when asked about QE
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BoJ Surprise QQE Increase - USDJPY Rallies To New Highs Print E-mail
Daily Forex Fundamentals | Written by Swissquote Bank SA | Oct 31 14 08:56 GMT
Forex markets were handed a surprise decision by the Bank of Japan which sent JPY significantly lower across the board. The BoJ announced an increase in the speed of expansion in its monetary base by “about” JPY80 trn per year (verse JPY60-70 trn). Previously the expansion was conducted through a combination of JGB purchases, liquidity through loan support programs and purchase of other assets. However now it looks as if a vast majority will be straight JGB purchases. Importantly to equity markets the speed of ETF and J-Reit purchases will increase as well (sending Nikkei higher). The vote was 5-4 with the majority citing downward pressure on prices as the key reason for more QQE. The market's reaction to the unexpected decision (please note we had projected this outcome- see Weekly Market Report) drove USDJPY to new multi-years high at 111.53. Foreign exchange trading strategies kick into full gear as USDJPY took out critical levels in 110.67 August 2008 high and 111.47 the 1998 peak while EUR/JPY rallied above the 138.60 pivot, and the 200-dma at 139.06. Equity markets are broadly stronger across Asia. The Nikkei rallied a massive 4.83% (supported by the additional QQE and reallocation in GPIF) , the Hang Seng up 1.09% and Shanghai rose 1.22% and the Kospi has risen 0.23%. S&P futures are currently trading higher up 0.2%.
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Gold Set For Further Falls Print E-mail
Daily Forex Fundamentals | Written by Blackwell Global | Oct 31 14 08:16 GMT
The case for gold seems to have dried up significantly in the past 48 hours with all the economic news and data that has come out. Hyperinflation: not likely in the current US economy by the looks of things, as tapering has now come to an end for the USA after the FOMC meeting yesterday. But what about all the assets on the FED’s books? The FED has already said that it will hold the majority of it to maturity so that it does not cause an economic shock on the markets, like past events have had.
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German Unemployment Unexpectedly Declines, Spanish Economy Growth In Q3 Print E-mail
Daily Forex Fundamentals | Written by Dukascopy Swiss FX Group | Oct 31 14 07:55 GMT
The number of unemployed people in Europe's biggest economy unexpectedly plummeted, while jobless rate stayed unchanged at 6.7%. The gauge came in at –22,000, following a revised 9,000 rise booked in September surprising analysts, who had expected a 4,000 increase. Germany's economic performance is a closely watched gauge of the development of the wider currency area as it makes up about 30% of the Euro zone's economic output. Meanwhile, Spain, the Euro area's fourth largest economy, enjoyed expansion in the third quarter, indicating economic revival maintained momentum following five bumpy years.
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US GDP Grows More Than Expected, Initial Claims Rise Print E-mail
Daily Forex Fundamentals | Written by Dukascopy Swiss FX Group | Oct 31 14 07:54 GMT
While concerns about the health of overseas economies are mounting, the US economy continues to surprise analysts and market participants by its ongoing strength, as it grew steadily again in the third quarter, supported by American consumers and businesses. GDP rose at annualized rate of 3.5% in the July-September period, exceeding economists' expectations for a 3.0% growth and following a robust 4.6% pace in the previous quarter. The data presented advance estimate, which is based on incomplete information and thus will be subject to future revision. The third-quarter expansion was driven largely by an increase in government consumption, which gained 4.6%, the most since second quarter of 2009, adding 0.83% to the headline number.
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Britain's Housing Market Loses Momentum, According To Nationwide Print E-mail
Daily Forex Fundamentals | Written by Dukascopy Swiss FX Group | Oct 31 14 07:53 GMT
House price growth in the UK slowed for a second consecutive month in October, adding to further signs that the country's property market is cooling. According to Britain's second biggest mortgage lender Nationwide, house price inflation fell to 9.0% on an annual basis, compared with 9.4% in September. On a monthly basis, house prices rose 0.5% in October following the 0.1% decline a month earlier, and bringing the average house price to 189,333 pounds. A number of indicators suggest the trend will continue to persist, with the activity softening further in the near term. The Nationwide said stricter mortgage lending rules, which took effect in April, might be one driver for the slowdown; while a fear of higher mortgage rates next year another. The recent data of the Bank of England showed that the number of mortgage approvals declined to the lowest level in 14 years in September.
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BoJ Unexpectedly Launches New Round Of QQE Print E-mail
Daily Forex Fundamentals | Written by Dukascopy Swiss FX Group | Oct 31 14 07:52 GMT
The Bank of Japan unexpectedly decided to expand what was already unprecedentedly massive monetary stimulus as economic growth and inflation have not accelerated as anticipated after the sales tax hike in April. The central bank said that it would enlarge the monetary base to 80 trillion yen, up from the current 60-70 trillion yen it has targeted since last April. The new round of open-ended qualitative and quantitative easing was approved by a 5-4 vote. The decision boosted stocks, with the Nikkei 225 Stock Average soaring to the highest level since 2007, and sent the Japanese Yen tumbling, with USD/JPY rising to seven-year high at 110.67. The announcement came as recent data showed consumer inflation falling further in September, raising doubts over the BOJ's ability to reach its 2% inflation goal.
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USD/JPY Surges As BOJ Eases Again Print E-mail
Daily Forex Fundamentals | Written by KBC Bank | Oct 31 14 07:37 GMT
The BOJ in a well-timed moved upped its asset purchases. The contrast with the Fed stopping QE is striking and didn't pass unnoticed in the FX market. USD/JPY surged to above 111, breaking through the previous top. If confirmed, USD/JPY next key resistance would only come in at 120 and 124. Master strike of the BoJ?
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EUR/USD: Euro Trading Marginally Lower Ahead Of The Euro-Zone's CPI Data Print E-mail
Daily Forex Fundamentals | Written by GCI Financial | Oct 31 14 06:10 GMT
The pair is expected to find support at 1.2556, and a fall through could take it to the next support level of 1.2508. The pair is expected to find its first resistance at 1.2642, and a rise through could take it to the next resistance level of 1.2680.
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GBP/USD: Pound Extends Its Losses In The Asian Session Print E-mail
Daily Forex Fundamentals | Written by GCI Financial | Oct 31 14 06:09 GMT
The pair is expected to find support at 1.5950, and a fall through could take it to the next support level of 1.5906. The pair is expected to find its first resistance at 1.6039, and a rise through could take it to the next resistance level of 1.6084.
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AUD/USD: Aussie Reverses Its Gains In The Asian Session Print E-mail
Daily Forex Fundamentals | Written by GCI Financial | Oct 31 14 06:08 GMT
The pair is expected to find support at 0.877, and a fall through could take it to the next support level of 0.8714. The pair is expected to find its first resistance at 0.8869, and a rise through could take it to the next resistance level of 0.8912.
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