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May 06 08:29 GMT

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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."



USD Decline Slows Despite Uninspiring US ISM Print E-mail
Daily Forex Fundamentals | Written by KBC Bank | May 06 15 07:41 GMT
On Friday, the dollar was in the defensive for most of the day, but fortunes changed later in the session as US bond yields rose. Hawkish Fed talk might have played a role. Was Friday's price action a precursor that the USD correction ran its course? Sterling was hit hard as the UK manufacturing PMI missed the consensus by a wide margin
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A Rock And A Hard Place Snags The RBNZ Print E-mail
Daily Forex Fundamentals | Written by Blackwell Global | May 06 15 07:40 GMT
It's been a tough old day for the Reserve Bank of New Zealand (RBNZ) with some disappointing data out of New Zealand over the last 24 hours. A rate cut might seem the logical answer to combat a slowing domestic market, but a scorchingly hot property market will make the decision an impossible one.
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Silver Looking For A Break Out Print E-mail
Daily Forex Fundamentals | Written by Blackwell Global | May 06 15 07:34 GMT
The past few days have seen silver consolidating sideways as it looks for some direction in the midst of a bevy of mixed US economic data. Despite attempting to push higher, silver has met some strong resistance at the 16.670 mark, and subsequently failed, pulling back to the supporting trend line. However, the pressure is building, and the charts are talking, as a wedge pattern starts to appear on H1. For now, silver appears content to consolidate ahead of a defined trend direction, but with the pending rising wedge, pressure for a breakout is increasing.
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NZD Dragged Down By Poor Jobs Data, EURUSD Erases Previous Losses Print E-mail
Daily Forex Fundamentals | Written by Swissquote Bank SA | May 06 15 07:27 GMT
NZD/USD got hammered last night after the release of softer-than-expected labour data. In the first quarter, unemployment rate increased to 5.8% verse 5.5% expected (prior read revised up by 0.1% to 5.8%). As a result, the Kiwi drop instantaneously by more than 60pips and is currently consolidating around 0.7478 since then. In Australia, March retails sales came in below expectation at 0.3%m/m verse 0.4%. However, RBA’s less dovish statement has triggered a rally and bulls are not ready to surrender yet. The Aussie recovers from last week’s sharp sell-off and is on its way to test the strong resistance from January lying at 0.8026. On the downside, the pair will find some support around 0.78 (Fib 50% on April 2nd-29th sell-off and psychological level). We remains Aussie bulls as we expect Australia’s economy to expand faster, driven by China’s recovery.
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European Open – Greece, PMIs And US Jobs In Focus Print E-mail
Daily Forex Fundamentals | Written by MarketPulse | May 06 15 06:43 GMT
European futures are pointing to a slightly stronger open on Wednesday, ahead of the first of three extremely important days for financial markets. Today there are two big focuses, economic data and Greek discussions. Tomorrow’s general election in the UK remains a key political event this week but the polls have barely moved for months and that is unlikely to change now, the campaign is effectively already over. Now we just have to wait and see how the vote pans out and what coalition government will rule. At this stage it seems that while the Tories may win the most seats, the biggest majority that exists is an anti-Tory one which could mean Conservatives have more seats but Ed Miliband becomes Prime Minister.
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New Zealand Unemployment Remains At 5.8%, As Participation Rate At All-Time High Print E-mail
Daily Forex Fundamentals | Written by Dukascopy Swiss FX Group | May 06 15 06:36 GMT
New Zealand's unemployment rate remained unchanged in the first quarter as the participation rate in the jobs market reached its highest level on record. The number of people in the workforce rose to an all-time high of 69.6%, while employment grew by an annual 3.2% to more than 2.3 million people. The seasonally adjusted jobless rate stood at 5.8%, according to Statistics New Zealand, against economists' expectations for a fall to 5.5%. The number of people employed increased 16,000 or 0.7% in the reported quarter, but this was more than soaked up by a surge in the workforce of 16,000 as the participation rate rose 0.2%.
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Spain's Unemployment Declines, Euro Zone Industrial Producer Prices Fall Print E-mail
Daily Forex Fundamentals | Written by Dukascopy Swiss FX Group | May 06 15 06:23 GMT
The number of registered unemployed in Spain declined more than expected in April, according to the Spanish Employment Ministry. The number of unemployed fell by 118,900 last month, following a drop by 60,2000 in March and overshooting economists' expectations for a 65,100 decrease. Yet, the nation's jobless rate remains at unhealthy high level of 23.78% in the first quarter of 2015, compared with 23.70% recorded in the previous three-month period. The International Monetary Fund expects the Spanish economy to grow 2.5% this year and 2% in 2016. Meanwhile, a separate report showed industrial producer prices in the Euro zone, a bellwether for the closely watched consumer prices, fell again in March, with the gauge booking its 20th consecutive month in contraction on an annual basis, Eurostat reported. Measured on an annual basis, the Producer Price Index declined 2.3% in March, following February's 2.8% decrease. Yet, on a monthly basis the gauge rose 0.2% against the expected 0.3% uptick. The Euro zone consumer price inflation in April rebounded from negative territory, where it spent four months in a row and posted zero growth, adding to signs that deflationary worries in the currency bloc are easing. On top of that, the European Commission expect that Euro zone economic growth will be 1.5%, stronger than previously estimated this year thanks to cheaper oil, a weaker euro, stable global growth and supportive fiscal and monetary policies
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US Factory Orders Bounce Back In March, But Trend Remains Weak Print E-mail
Daily Forex Fundamentals | Written by Dukascopy Swiss FX Group | May 06 15 06:21 GMT
The US trade deficit ballooned in March to the highest level in six years, driven by a record increase in imports as commercial activity resumed at West Coast ports after a resolution to labour disputes. The gap increased 43.1%, the biggest jump in 18 years, to $51.4 billion, the largest since October 2008, the Commerce Department said. Exports rose 0.9% to $187.8 billion, while imports surged 7.7% to $239.2 billion. Last week data showed that the overall economy grew a tiny 0.2%. A disappointing trade deficit was already estimated to have slashed 1.25 percentage points from first quarter GDP. Nevertheless, the March data could send GDP into negative territory. Yet, economists expect a rebound in growth in the current quarter to around 2%, accelerating to a 3% average in the second half of the year. Rising employment is predicted to boost stronger consumer spending, which should help offset weak export growth.
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Activity In UK Construction Sector Slid To 2-Year Low In April Print E-mail
Daily Forex Fundamentals | Written by Dukascopy Swiss FX Group | May 06 15 06:20 GMT
Activity in the UK construction sector retreated to its lowest level in nearly two years in April as companies put off decisions ahead of this week's national election, but confidence remained high and hinted at a post-election pickup. Markit/CIPS UK construction PMI declined to 54.2 last month, the lowest level in 22 months and down from 57.8 in March. Markit said there was evidence of construction firms delaying spending decisions ahead of the May 7 election. Yet, while confidence slid from the highest level in nine years in March, employment in the sector grew slightly, a sign that companies anticipated business to recover soon.
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Canada's Trade Deficit Increase To Record High In March On Rise Of Consumer Goods Imports Print E-mail
Daily Forex Fundamentals | Written by Dukascopy Swiss FX Group | May 06 15 06:18 GMT
Canada's merchandise trade deficit increased to a record high in March as the value of energy exports fell and imports of consumer goods rose. Canada's trade deficit expanded to C$3.02 billion in March, following a revised deficit of C$2.22 billion in February, according to Statistics Canada. Canada's trade balance has been driven by crude oil prices that plummeted more than 50% in the second half of last year, turning the nation's surplus of C$2 billion into six consecutive deficits. Energy exports declined by 8.9% to C$6.89 billion in March, including a 29.7% plunge in refined petroleum products to C$855 million. Energy prices fell 7% and volumes dropped 2.1%. From 12 months earlier, energy exports dived by 43.7%.
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AUDNZD: The Antipodean Currency Battle That Both Sides Want To Lose Print E-mail
Daily Forex Fundamentals | Written by Forex.com | May 06 15 06:00 GMT
AUDNZD has been propelled higher once more, much to the delight of the RBNZ but to the chagrin of the RBA. Both central banks have been very vocal about the need for softer exchange rates in their respective countries to help promote economic growth. When a currency strengthens, or at least refuses to fall, alongside commodity prices in a commodity-backed economy it can be very detrimental to growth. Not only does it directly diminish economy activity in trade exposed sectors, it undermines business confidence throughout the economy.
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EUR/USD: Euro Trading Higher Ahead Of The Euro-Zone's Retail Sales Data Print E-mail
Daily Forex Fundamentals | Written by GCI Financial | May 06 15 05:55 GMT
The pair is expected to find support at 1.1112, and a fall through could take it to the next support level of 1.1010. The pair is expected to find its first resistance at 1.1269, and a rise through could take it to the next resistance level of 1.1325.
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AUD/USD: Australian Retail Sales Advanced Less Than Expected In March Print E-mail
Daily Forex Fundamentals | Written by GCI Financial | May 06 15 05:54 GMT
The pair is expected to find support at 0.7843, and a fall through could take it to the next support level of 0.7722. The pair is expected to find its first resistance at 0.8029, and a rise through could take it to the next resistance level of 0.8094.
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GBP/USD: Pound Trading On A Stronger Footing Ahead Of UK's Construction PMI Data Print E-mail
Daily Forex Fundamentals | Written by GCI Financial | May 06 15 05:52 GMT
The pair is expected to find support at 1.5115, and a fall through could take it to the next support level of 1.5037. The pair is expected to find its first resistance at 1.5246, and a rise through could take it to the next resistance level of 1.5298.
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USD/JPY: Japanese Yen Trading On A Weaker Footing This Morning Print E-mail
Daily Forex Fundamentals | Written by GCI Financial | May 06 15 05:51 GMT
The pair is expected to find support at 119.6, and a fall through could take it to the next support level of 119.27. The pair is expected to find its first resistance at 120.4, and a rise through could take it to the next resistance level of 120.86.
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USD/CHF: Swiss Franc Extends Its Gains In The Asian Session Print E-mail
Daily Forex Fundamentals | Written by GCI Financial | May 06 15 05:50 GMT
The pair is expected to find support at 0.9195, and a fall through could take it to the next support level of 0.9128. The pair is expected to find its first resistance at 0.9372, and a rise through could take it to the next resistance level of 0.9483.
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USD/CAD: Loonie Trading Higher Ahead Of Canada's Ivey PMI Data Print E-mail
Daily Forex Fundamentals | Written by GCI Financial | May 06 15 05:49 GMT
The pair is expected to find support at 1.1989, and a fall through could take it to the next support level of 1.1928. The pair is expected to find its first resistance at 1.2123, and a rise through could take it to the next resistance level of 1.2195.
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Asian Market Update: China Services PMI Climbs To 4-Month High, NZD Weighted Down By Unemployment Data Print E-mail
Daily Forex Fundamentals | Written by Trade The News | May 06 15 05:19 GMT
Asia equity indices are mostly in red following Wall St selloff. NZD/USD becomes most notable mover in FX space, falling some 50pips below $0.7500 as New Zealand posted its 1-year high unemployment rate at 5.8% beating consensus of 5.5% and employment change on quarter falls into 3-quarter low. However, labor force participation rate reached all-time high of 69.6%.
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USD/CAD Loonie Shrugs Off Largest Canadian Trade Deficit Print E-mail
Daily Forex Fundamentals | Written by MarketPulse | May 06 15 02:14 GMT
The Canadian dollar continues to advance versus the U.S. dollar even as both nations delivered worse than expected trade deficits. The Canadian trade balance was expected to improve from the disappointing 2.2 billion deficit with a forecast of 800 million. The actual release shocked markets with a larger than expected 3 billion in March. This is the worst ever trade balance with the only positive being the larger volumes of both imports and exports. The previous record was 2.87 billion in July 2012. Statistics Canada also made a downward revision to the previous month release which now stands at 2.2 billion after it had reported 984 million which is what set the expectations so high.
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Morning View: Yes, They Cut Print E-mail
Daily Forex Fundamentals | Written by Vantage FX | May 06 15 01:56 GMT
In a widely expected move, the RBA yesterday cut rates to a record low 2.00%. What was slightly less expected was the price action following the release (and for once it wasn't dodgy front runners!). The Aussie was smashed on the headline of the cut but as the statement was digested, buyers swooped and pushed the currency to new highs. The buying was due to the statement being interpreted as more hawkish than expected, not mentioning the need for additional cuts and possibly signalling the end of the RBA's easing cycle.
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