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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."



Greece Won't Pay... Now What? Print E-mail
Daily Forex Fundamentals | Written by Forex.com | Jun 30 15 12:39 GMT
Greece has reached D-day, they literally will default (or fall into arrears, in IMF parlance) if they don't pay up some EUR 1.6 bn by midnight Athens time tonight. There have been various rumours all morning that another last minute deal may be on the table, but news of this deal seems to have fizzled out, and even Angela Merkel said that the only offer that she knows from Greece is from last Friday. This doesn't suggest any last minute deals are likely and we expect Athens to miss its IMF payment, and those thereafter, in the coming days and weeks.
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Greece's Tsipras and Month End Demand to Keep Traders Guessing Print E-mail
Daily Forex Fundamentals | Written by MarketPulse | Jun 30 15 11:49 GMT
For the remainder of this week, market moves are to be dominated by contagion and risk aversion, but most likely not to the same extent of the recent past. The EUR's impressive rally after the fact yesterday (€1.0966 to €1.1262), referred mostly to investor confidence on how Euro policy makers have potentially ringed the worst effects of a possible Grexit. After the initial shock of not obtaining an eleventh hour deal, market moves have since been relatively orderly and fluid, and this despite the nature of this week. It's a holiday-shortened trading week, dissected by quarter and half-year end demands, with the granddaddy of U.S economic indicators thrown in a day early (Thursday July 2) for good measure.
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Euro Drops As Investors Damp Data, Focus On Greece Print E-mail
Daily Forex Fundamentals | Written by ICN.com | Jun 30 15 10:51 GMT
The euro dropped against the U.S. dollar on Monday as investors ignored data and continued to focus on the latest developments from Greece. Euro area consumer prices for a second month in a row in June to hit an annual 0.2 percent, coming in line with forecasts, after advancing 0.3 percent in May. The data provided some clues that deflation threats are abating and the ECB’s massive stimulus program is taking effect.
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Swiss KOF Indicator Falls, Iranian Nuclear Deal Eyed Print E-mail
Daily Forex Fundamentals | Written by Swissquote Bank SA | Jun 30 15 09:48 GMT
After a slight uptick in May, KOF leading indicator dropped to 89.66 in June, its lowest level since December 2011. The highly resilient Swiss economy is clearly feeling the consequences of a strong Swiss franc and the economic outlook does not look great. In addition, the Greek situation is also weighing on the Swiss franc as investors shun risk and flee to safe-havens. Yesterday in Bern, the SNB declared that it had intervene in the currency market on Sunday night to stabilise the Swiss franc amid Greek deadlock. Thomas Jordan refused to give details about the scale of the intervention but we believe it wasn’t a massive intervention as the SNB has remained moderately active in the FX market lately. Indeed, sight deposits increased by a weekly average of CHF634mn during the month of June, compared to CHF1,368mn in May and CHF882mn in April. Despite the SNB’s willingness to reduce traders’ interest for Swiss franc by intervening in the foreign exchange market, the CHF will remain in demand as long as the long-term situation do not improve substantially in Eurozone and we are not talking only about the Greek situation. We expect EUR/CHF to trade sideways and to remain within the 1.0250-1.05 range.
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European Market Update: Greece Poised To Miss IMF Loan Payment, Greece PM Tsipras Said To Consider Last Minute Initiative For An Agreement Print E-mail
Daily Forex Fundamentals | Written by Trade The News | Jun 30 15 09:42 GMT
Risk aversion theme diminished but not abated at this time. Month end and quarter end liquidity conditions were described as 'horrid' by participants. Dealer chatter that one poll showing "No" vote significantly in the lead for Sunday's referendum in Greece
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Euro: A Bullish Reversal, European Equities Lower Print E-mail
Daily Forex Fundamentals | Written by Swissquote Bank SA | Jun 30 15 08:41 GMT
After a sell-off that dragged EUR/USD down to 1.0955, the euro rallied in late European and Asian session and almost returned to its pre-weekend levels. The pressures on European peripheral bonds have also eased as markets are having a hard time pricing in the outcome of a Grexit. German 5-year sovereign bond yields moved back above the 0.10% threshold, their UK equivalents are back around 1.55% while Spanish and Italian 5-year bond yields stabilised around 1.15% and 1.28%, respectively. Nevertheless, investors remained reluctant to buy Greek 10-year sovereign bonds for now, pushing yields higher to 15.09%. We expect the pressure to be maintained on Greek bonds ahead of Saturday's referendum in Greece.
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Euro Shows Remarkably Resilient Despite Greek Debt Crisis Print E-mail
Daily Forex Fundamentals | Written by KBC Bank | Jun 30 15 08:05 GMT
Yesterday, the euro reversed earlier losses quite easily and even closed the session in positive territory. Risk-off sentiment currently weighs on the dollar at least as hard as on the euro. Today, Greece will still dominate the headlines, but eco data are interesting too. Will strong US data help to give the dollar down-ide protection?
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German Inflation Slides Into Negative Territory In June, European Leaders Call For 'Yes' Vote In Greece Print E-mail
Daily Forex Fundamentals | Written by Dukascopy Swiss FX Group | Jun 30 15 07:53 GMT
While all eyes are focused on Greece this week, following the weekend's unexpected and dramatic events, Germany's latest inflation data may provide temporary distraction. Consumer prices in the Euro zone's star economy slid into negative territory in June, the preliminary data showed. According to the German Federal Statistics Office, the flash CPI reading fell 0.1% in the month under review from May, whereas economists had expected a 0.1% rise. Measured on an annual basis, the cost of living in Germany increased 0.3% in June, missing expectations for a 0.5% gain and following the 0.7% growth in May. Yet, the annual indictor has remained in positive territory for five consecutive months, after plunging in January to the lowest level since July 2009. At the same time, the so-called Harmonized Index of Consumer Prices dropped 0.2% on month and rose 0.1% on year, following the 0.1% and 0.7% increase in the previous month, respectively.
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US Pending Home Sales Rise To 9-Year High In May Print E-mail
Daily Forex Fundamentals | Written by Dukascopy Swiss FX Group | Jun 30 15 07:51 GMT
Contracts to buy previously owned US homes jumped to the highest level in more than nine years in May, adding to signs the US housing market is gaining steam after a wobbly start to the year. According to the National Association of Realtors, the index of pending home sales rose 0.9% to a seasonally adjusted 112.6, the highest since April 2006. The April gauge was revised down to 111.6 from 112.4. Pending home sales surged 10.4% from a the previous year. The housing market recovery is back on track after being derailed by harsh weather at the beginning of the year. It is being supported by a tightening labour market, which is helping to underpin some pick-up in wage growth.
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British Mortgage Approvals Unexpectedly Decline Print E-mail
Daily Forex Fundamentals | Written by Dukascopy Swiss FX Group | Jun 30 15 07:49 GMT
British mortgage approvals unexpectedly dropped in May after rising in April to the highest level in more than a year. Approvals for house purchases decreased to 64,434 from a downwardly revised 67,580, according to the Bank of England. The number of approvals declined throughout most of 2014, easing house price growth and alleviating concerns about the housing market bubble. Net mortgage lending, gross loans less repayments, rose 2.098 billion pounds in May, the biggest increase since November, the BoE said, slightly more than a forecast of 2.05 billion pounds and compared with 1.7 billion pounds in April. The BoE said consumer credit grew by 1.0 billion pounds in May, down from 1.176 billion pounds in April. Economists had expected an increase of 1.1 billion pounds. Despite May's slowdown, consumer credit on a three-month annualised basis rose 8.5 percent, the highest since August 2005. Lending to non-financial businesses rose by 700 million pounds in May, the BOE said. The BoE also said total net lending to individuals increased by 3.1 billion pounds last month, below forecasts for 3.3 billion pounds and up from 2.9 billion pounds in April. Meanwhile, the M4 Money Supply rose by a seasonally adjusted 0.5% in May, in line with expectations and following an increase of 0.4% in April.
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Canada's Industrial And Raw Materials Prices Rise In May Led By Energy Products Print E-mail
Daily Forex Fundamentals | Written by Dukascopy Swiss FX Group | Jun 30 15 07:48 GMT
Canada's producer prices rose in May, led by increasing costs of energy and petroleum products, Statistics Canada said. Canada's industrial product price index climbed 0.5% in the reported month, following a 0.9% decrease in April. This indicator measures the price manufacturers receive once their goods leave the plant, and does not reflect the final prices consumers pay for goods. Of the 21 commodity groups, three increased, 15 declined and three stayed the same. Prices for energy and petroleum products jumped by 5.0%, mainly thanks to a 7.1% advance in motor gasoline prices. Meanwhile, the Raw Materials Price Index surged 4.4% following the upwardly revised increase of 4% in April. One of the biggest upward drivers supporting the figure was more expensive crude energy products, which advanced 8.8%. Oil has been rebounding since the second half of 2014, with the help of a recovery in conventional crude oil, which surged 37.2% since January 2015. Excluding energy, RMPI rose 1.1%.
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New Zealand Building Consents Remain Virtually Flat In May, Business Confidence Turns Negative Print E-mail
Daily Forex Fundamentals | Written by Dukascopy Swiss FX Group | Jun 30 15 07:46 GMT
New Zealand building consents remained virtually flat in May as falling demand in Auckland offset surging construction intentions in other parts of the country. Regional councils issued seasonally adjusted 2,151 approvals for dwellings of all types in May, up from 2,150 a month earlier, according to Statistics New Zealand. Housing consents increased 2.4% to 1,520 after the 1.8% drop in April. New dwelling consents in Auckland, the country's most populous city, declined for the first time since January, down 29% in May to 651. In annual terms, Auckland building approvals surged 6.5% in the reported month, compared with May 2014.
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Greece Still Weighs As Attention Shifts To Data Print E-mail
Daily Forex Fundamentals | Written by MarketPulse | Jun 30 15 07:34 GMT
Financial markets are likely to settle down a little on Tuesday following widespread panic-driven selling at the start of the week in response to Greece's rejection of its creditors bailout proposal, referendum announcement and banking system closure.
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AUD/USD: Aussie Reverses Its Gains This Morning Print E-mail
Daily Forex Fundamentals | Written by GCI Financial | Jun 30 15 05:58 GMT
The pair is expected to find support at 0.7632, and a fall through could take it to the next support level of 0.7591. The pair is expected to find its first resistance at 0.7715, and a rise through could take it to the next resistance level of 0.7756.
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EUR/USD: Euro Trading Lower Ahead Of The Euro-Zone's CPI Print E-mail
Daily Forex Fundamentals | Written by GCI Financial | Jun 30 15 05:57 GMT
The pair is expected to find support at 1.1022, and a fall through could take it to the next support level of 1.0857. The pair is expected to find its first resistance at 1.1316, and a rise through could take it to the next resistance level of 1.1444.
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GBP/USD: Pound Trading A Tad Lower Ahead Of Britain's Q1 GDP Data Print E-mail
Daily Forex Fundamentals | Written by GCI Financial | Jun 30 15 05:56 GMT
The pair is expected to find support at 1.5675, and a fall through could take it to the next support level of 1.5626. The pair is expected to find its first resistance at 1.5781, and a rise through could take it to the next resistance level of 1.5838.
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USD/CHF: Swiss Franc Trading On A Weaker Footing Ahead Of Switzerland's KOF Leading Indicator Data Print E-mail
Daily Forex Fundamentals | Written by GCI Financial | Jun 30 15 05:48 GMT
The pair is expected to find support at 0.9202, and a fall through could take it to the next support level of 0.9129. The pair is expected to find its first resistance at 0.9389, and a rise through could take it to the next resistance level of 0.9503.
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USD/CAD: Loonie Trading Lower Ahead Of Canada's GDP Data Print E-mail
Daily Forex Fundamentals | Written by GCI Financial | Jun 30 15 05:46 GMT
The pair is expected to find support at 1.2339, and a fall through could take it to the next support level of 1.2259. The pair is expected to find its first resistance at 1.2461, and a rise through could take it to the next resistance level of 1.2504.
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USD/JPY: Japanese Yen Trading On A Weaker Footing In The Asian Session Print E-mail
Daily Forex Fundamentals | Written by GCI Financial | Jun 30 15 05:45 GMT
The pair is expected to find support at 121.92, and a fall through could take it to the next support level of 121.57. The pair is expected to find its first resistance at 122.9, and a rise through could take it to the next resistance level of 123.52.
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Asian Market Update: Shanghai Composite Erases 5% Drop On Reports Of IPO Suspension And Further Liquidity Operation Print E-mail
Daily Forex Fundamentals | Written by Trade The News | Jun 30 15 04:10 GMT
Shanghai Composite resumed its steep decline in the early going, falling by as much as 5% below 3,850, but heading into its midday break the index has impressively returned all the way back to its unchanged levels above 4,050. PBoC has injected another CNY50B in liquidity through 7-day reverse repos and also lowered the offering yield by 20bps to 2.5%. Earlier, local press also reported regulators are considering allowing the country's pension fund to invest in A-share market. However, the upward inflection coincided with reports that CSRC would postpone the China Nuclear Engineering Corp (CNEC) IPO that was expected to raise CNY2.7B in July. Despite Securities Finance Corporation (CSF) determination earlier that risks of margin trading is within control, Shanghai Exchange also announced a halt in margin trading for select stocks. Note that the out-of-control margin investing in the retail space along with the rich IPO pipeline have been widely cited as the key culprits in this extreme China selloff.
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