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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."



US April CPI Rose 0.1% in the Month with Core Prices up a Greater 0.3% Print E-mail
Daily Forex Fundamentals | Written by RBC Financial Group | May 22 15 14:33 GMT
April consumer prices rose an expected 0.1%, down slightly from a 0.2% gain in March. Earlier monthly declines are keeping the year-over-year rate in negative territory, dropping 0.2% in April following a 0.1% decline in March. The expected lessening in the monthly increase was largely premised on indications that gasoline prices turned down in April after rising in March. This was confirmed in today's report with the gasoline component dropping 1.7% in the month following a 3.9% increase in March. Downward pressure was also evident in the "household fuels and utilities" component, which dropped 0.6% in the month, although this represented a lessening in the pace of decline from a 0.9% drop in March.
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Canada's Consumer Price Inflation Rate Fell to 0.8% in April, Lowest Since October 2013; Ex-energy Inflation Rate Was 2.2 Print E-mail
Daily Forex Fundamentals | Written by RBC Financial Group | May 22 15 14:31 GMT
The unadjusted all-items consumer price index fell 0.1% in April, defying expectations for a 0.1% rise. The drop in April largely reflected a 1.1% decline in energy prices that was supplemented by lower costs for food, shelter, clothing and recreation, education and reading. Of the eight major components, four posted decreases in April, one (transportation) held steady and three rose on a not seasonally adjusted basis. The monthly decline in the headline measure resulted in the year-over-year rate dropping to the lowest level since October 2013 at 0.8%.
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Canadian Retail Sales up 0.7% in March Print E-mail
Daily Forex Fundamentals | Written by RBC Financial Group | May 22 15 14:29 GMT
Canadian retail sales rose a stronger-than-expected 0.7% in March to build on a 1.5% (was 1.7%) gain in February that followed declines of 1.4% and 1.8% in January and December, respectively. Market expectations were for a 0.3% gain. The increase in March sales was relatively broadly-based, with sales up in seven of 11 subsectors, led by a 1.5% rise in motor vehicle sales and a 1.3% rise in food stores, which was boosted by a 4.7% jump in sales at beer, wine, and liquor stores. A 2.4% decline in sales at general merchandise stores provided the main source of partial offset while sales at gasoline stations inched down 0.5% despite earlier indications that gasoline prices rose on a seasonally adjusted basis.
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US Open – Yellen Speech And Inflation Data Key Print E-mail
Daily Forex Fundamentals | Written by MarketPulse | May 22 15 11:18 GMT
U.S. futures are treading water ahead of the open as traders take cover in the run up to what could be a volatile final session before the bank holiday weekend. The Friday before the bank holiday weekend can quite often be a little lighter on trading volume with traders using the opportunity to take an extended break but with all of the events scheduled today, I expect there to be more activity than normal.
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GBP/USD Gained Momentum, Oil Inventories Declined Print E-mail
Daily Forex Fundamentals | Written by Swissquote Bank SA | May 22 15 10:40 GMT
GBP/USD is gaining momentum as United Kingdom proved to have better managed winter months than the US. Retail sales came in way above expectation (1.2%m/m versus 0.2% consensus) on the back of strong March data – industrial production grew 0.7%y/y versus 0.1% consensus and manufacturing production grew 1.1%y/y versus 1% expected. The picture is not all bright however as headwinds arising from upcoming fiscal tightening may jeopardize economic expansion for the years ahead. Moreover, inflation slipped below zero for the first time in 50 years, delaying a potential rate hike from The Bank of England in 2016.
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European Market Update: German Economic Data In Sees Shift Towards A More Realistic View From Recent 'Euphoria' Print E-mail
Daily Forex Fundamentals | Written by Trade The News | May 22 15 09:26 GMT
The FX markets were little changed ahead of extended weekends in both Europe and US. The EUR/USD still contained within recent weekly trading ranges and hovered around 1.1165 just ahead of the NY morning. The JPY currency was a tad firmer after the BOJ maintained its current monetary policy stance and upgraded its view on the domestic economy. BOJ Gov Kuroda reiterated that further easing is not needed at this time
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Bank Of Japan On Autopilot At Least Until Autumn Print E-mail
Daily Forex Fundamentals | Written by Danske Bank | May 22 15 08:28 GMT
Bank of Japan (BoJ) as widely expected did not announce any new easing measures in connection with today’s monetary meeting. The target for the annual expansion of the monetary base (the main policy instrument) was maintained at JPY80trn.
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Dollar Rebound Running Into Resistance As US Data Fail To Convince Print E-mail
Daily Forex Fundamentals | Written by KBC Bank | May 22 15 08:23 GMT
Yesterday, EUR/USD showed some technically inspired intraday swings. At the end of the day, the dollar traded slightly lower against the euro and the yen. This morning, the USD is still in the defensive. The yen profits from a positive assessment from the BOJ on the economy. Today, the US CPI and Central bankers’ speeches might guide USD trading.
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Power For The Pound Bulls Print E-mail
Daily Forex Fundamentals | Written by ForexTime | May 22 15 08:13 GMT
The Pound bulls went on a rampage yesterday, with the GBP punishing the majority of its trading partners following UK retail sales being announced much higher than expected. Aside from inflation risks, the UK economic outlook is extremely bright and this is very attractive to traders. The markets were provided with another subtle reminder of how strong the UK’s fundamentals are following the retail sales report, which also provided the catalyst for the GBP bullish momentum to accelerate yesterday. There were previously concerns that the UK economic revival was at risk to being over-reliant on its housing sector enhancing productivity, but consumers are now driving the UK recovery in a different ways with the combination of low inflation and rising wages providing a boost to retailers.
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Dollar Lower Amid Poor US Data, Yellen, CPI Print E-mail
Daily Forex Fundamentals | Written by Swissquote Bank SA | May 22 15 08:11 GMT
The month of April was a disappointment. Despite encouraging housing data on Tuesday, all other indicators point toward a delay in economic recovery as the Philadelphia Fed survey (6.7 versus 8 expected) is adding uncertainty about economic activity in May. However, more is needed to awake dollar bears as EUR/USD is not reacting much to negative news from the US and is therefore moving sideways for the last two days. The pair found a strong support at 1.1105 which corresponds to the 38.2% Fibonacci level (on April 13 – May 15 rally) and will certainly wait next week’s US data to make an attempt as we expect today’s CPI data to remain low. However, Fed Chair Yellen is speaking at 5pm GMT and will have another opportunity to guide markets.
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China's Manufacturing Activity Continues To Decline In May Print E-mail
Daily Forex Fundamentals | Written by Dukascopy Swiss FX Group | May 22 15 07:52 GMT
China's manufacturing activity declined for the third consecutive months in May as demand remained weak, fuelling expectations for more stimulus to support the growth in the world's second biggest economy. HSBC's preliminary manufacturing PMI came in at 49.1 for May. Even though the measure was slightly better than 48.9 in April, it remained in contractionary territory. The preliminary PMI figure is based on 85% to 90% of total responses to HSBC's survey each month, and is released about one week before the final PMI reading.
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BoJ Unbeat On Economy, Keeps Stimulus On Hold Print E-mail
Daily Forex Fundamentals | Written by Dukascopy Swiss FX Group | May 22 15 07:02 GMT
The Bank of Japan refrained from adding more monetary stimulus and expressed more upbeat view on the world's third largest economy, as a rebound in consumption boosted services sector's sentiment to the highest level in a year. The central bank said it will continue to expand the monetary base at an annual pace of 80 trillion yen. The world's third-biggest economy grew 0.6% in the March quarter, preliminary GDP data showed, slightly above the forecast of a 0.4% expansion, and 0.2 percentage points bigger than December-quarter growth. The acceleration of growth was due to modest increases in private consumption, which makes up roughly 60% of Japan's GDP. On an annualized basis, the economy grew 2.4% in the March quarter, picking up from 1.5% in the previous quarter. The central bank also revised up its assessment on household spending and housing investment, two components hurt hard by last year's sales tax hike, underscoring its belief that the economy emerged from doldrums. According to the BoJ, inflation is set to hit the 2% target in fiscal 2016, with tight labour-market conditions and the pressure created on wage growth helping to reach this target. The central bank's forecasts also assume a rise in global fuel prices from current levels. The BoJ bought itself some breathing space last month when it postponed the timing for hitting its inflation target. Yet, the decision also questions its credibility as it jarred with its commitment to reach the price target in 'roughly two years' since stepping up stimulus in April 2013.
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UK Retail Sales Rebound Strongly In April Print E-mail
Daily Forex Fundamentals | Written by Dukascopy Swiss FX Group | May 22 15 06:59 GMT
UK retail sales unexpectedly jumped in Aprils as warm weather boosted clothing demand the most in four years. The volume of sales including auto fuel soared 1.2% from March, the Office for National Statistics reported, after the 0.7% decline in the preceding month and compared with economists' expectations for a 0.4% gain. Clothing and footwear sales were the biggest contributor to retail sales growth, jumping 5.2%, the biggest gain since April 2011. In the three months through April, retail sales increased 0.7% from the previous three month-period. They have now risen for 26 consecutive quarters, the longest streak of sustained growth since records began in 1996. Sales were also boosted by lower costs, driven mostly by cheaper oil and food in international markets. Average store prices declined for the 10th month in a row, with gasoline stations curing prices the most.
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US Unemployment Benefits Rise, Manufacturing Activity And Existing Home Sales Decline Print E-mail
Daily Forex Fundamentals | Written by Dukascopy Swiss FX Group | May 22 15 06:36 GMT
The number of Americans applying for unemployment benefits increased slightly more than expected, but the underlying trend continued to point the labour market was tightening. Initial claims for state unemployment benefits rose 10,000 to a seasonally adjusted 274,000 in the week ended May 16, according to the Labor Department. Even though claims increased, they remained below 300,000, a threshold associated with a strengthening labour market, for an 11th consecutive week. The four-week moving average of claims, considered a better gauge of labour market trends as it strips out week-to-week volatility, dropped 5,500 last week to 266,250, marking the lowest level since April 2000.
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Euro Zone Manufacturing Activity Continues To Recover, ECB Calls For Implementing Structural Reforms Print E-mail
Daily Forex Fundamentals | Written by Dukascopy Swiss FX Group | May 22 15 06:13 GMT
Manufacturing activity in the currency bloc continued to rise in May, according to flash data from Markit. The flash manufacturing PMI for the Euro zone increased to 52.3 points in May, compared to 52.0 in April. The region's services sector also enjoyed a healthy expansion, with the flash services PMI reading booking 53.3. Also, the closely-watched composite PMI came in at 53.4, remaining firmly in green territory. In Germany, the Euro zone's powerhouse, the manufacturing sector saw output continued to increase in May, albeit at a slower pace. May's preliminary PMI for Germany's manufacturing sector came in at 51.4, compared with April's final reading of 52.1, and below analysts expectations of 52. Meanwhile, activity in the country's service sector deteriorated in the reported month, the flash data showed. The preliminary services PMI fell to 52.9 points, below April's 54.0 points and failing to meet expectations of 53.9.
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Central Bankers Ensure Lively End To The Week Print E-mail
Daily Forex Fundamentals | Written by MarketPulse | May 22 15 06:11 GMT
The Friday leading into the bank holiday weekend can quite often be a little quieter and see lower trading volumes, with traders turning it into an extended break. Given some of the data being released today and the number of central bankers taking part in events in Portugal and Rhode Island, I think today is going to be a million miles from slow and boring.
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AUD/USD: Aussie Extends Its Gains In The Asian Session Print E-mail
Daily Forex Fundamentals | Written by GCI Financial | May 22 15 05:22 GMT
The pair is expected to find support at 0.7880, and a fall through could take it to the next support level of 0.7847. The pair is expected to find its first resistance at 0.7934, and a rise through could take it to the next resistance level of 0.7954.
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EUR/USD: Euro Trading Higher Ahead Of Germany's Q1 GDP Data Print E-mail
Daily Forex Fundamentals | Written by GCI Financial | May 22 15 05:21 GMT
The US Dollar further came under pressure, as the preliminary estimate of the nation's manufacturing PMI unexpectedly tumbled to a sixteen-month low reading of 53.8 in May, lower than market expectations of a rise to a level of 54.50.
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GBP/USD: Pound Trading Marginally Higher Ahead Of The BoE Governor's Speech Print E-mail
Daily Forex Fundamentals | Written by GCI Financial | May 22 15 05:20 GMT
The pair is expected to find support at 1.5559, and a fall through could take it to the next support level of 1.5454. The pair is expected to find its first resistance at 1.5736, and a rise through could take it to the next resistance level of 1.5807.
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USD/CHF: Swiss Franc Trading On A Stronger Footing This Morning Print E-mail
Daily Forex Fundamentals | Written by GCI Financial | May 22 15 05:16 GMT
The pair is expected to find support at 0.9316, and a fall through could take it to the next support level of 0.9271. The pair is expected to find its first resistance at 0.9395, and a rise through could take it to the next resistance level of 0.9429.
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