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Forex Daily Fundamental Reports
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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."
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Daily Forex Fundamentals |
Written by Forex.com |
May 08 12 14:51 GMT
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USD is trading firmly against the majors (except the JPY) with the Dollar Index advancing to approach the pivotal 80.00 level. With little economic data due out today, the market's focus remains on political developments in Europe and the elevated uncertainty is seeing traders shift away from risky assets and into safe havens. US Treasury yields are lower with the 10-year yield currently around 1.84% and US equities are lower with the DJIA and S&P 500 currently down by -0.60% and -0.68% respectively. The dollar is strongest against the commodity currencies (AUD, NZD, CAD) amid growth concerns and significant technical declines in commodities. Gold (XAU/USD) is currently trading below a long term trendline support which began at the lows in Oct. 2008 and crude oil is currently below its 200-day SMA and remains below the pivotal $100/barrel level.
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Daily Forex Fundamentals |
Written by TD Bank Financial Group |
May 08 12 14:25 GMT
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With the books closed on Q1, the pace of homebuilding was somewhat stronger than we had been expecting. March's outperformance should perhaps not be so surprising when we consider the unseasonably warm winter in much of the country, which no doubt pulled some building activity forward in the season. Not to mention the potential for demand to have been spurred on by the renewed mortgage wars amongst major lenders that drove rates to fresh lows.
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Daily Forex Fundamentals |
Written by RBC Financial Group |
May 08 12 13:31 GMT
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Canadian housing starts increased by 14.0% to an annualized pace of 244,900 in April 2012 from 214,800 in March (previously reported as 215,200). This strong increase was unexpected, as market expectations had been for a decrease in starts to 204,000. The volatile urban-multiples component was primarily responsible for the increase in overall starts, with urban-multiple starts surging 27.4% to 158,500, which was the second-highest level on record since 1990. Urban singles edged up slightly increasing by 0.6% to 67,700, while rural starts fell by 19.0% to 18,700.
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Daily Forex Fundamentals |
Written by ICN.com |
May 08 12 11:20 GMT
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With the start of the second session this week, tension remains evident in the market as the Greek talks continues for the second day, where so far Greek political leaders are unable to form a government, following the failure of Antonis Samaras, the thing that raised fears regarding the Greek future and existence in the Monetary Union as well, sending high yielding currencies led by the euro and sterling pound south.
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Daily Forex Fundamentals |
Written by Forex.com |
May 08 12 10:46 GMT
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This is the key question for currency traders right now. The fundamental back-drop looks challenging for the euro. Although the Merkel/ Hollande rift seems overdone to us, Greece is the real problem. The leader of the New Democracy party announced late last night that he had failed to form a coalition government. The baton is now passed to the leader of the radical left wing Syrizia party, which now has three days to form a government. If this fails then another round of elections is on the cards for June. However, these elections could coincide with Greece running out of money, which makes them a much riskier prospect than the elections held last weekend.
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Daily Forex Fundamentals |
Written by ICN.com |
May 08 12 07:57 GMT
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European stock futures signal a lower start before the opening on Thursday continuing the losses seen yesterday before markets rebounded to close in green with slight gains. Concerns are back once again to the markets as the efforts made by the Greek leader of New Democracy Antonis Samaras failed to forge a new government.
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Daily Forex Fundamentals |
Written by Swissquote Bank SA |
May 08 12 07:45 GMT
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FX risk appetite stabilized in the Asian session as G10 pairs consolidated after yesterday's risk sell-off. However, the overarching bearish sentiment continued to emanate from Europe as reports that Spain might have to bailout Bankia, the country's third largest bank by assets (€300bn). The Spanish bank announced that CEO Rodrigo Rato has resigned, with an expected bailout costing approximately €10bn.
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Daily Forex Fundamentals |
Written by KBC Bank |
May 08 12 07:43 GMT
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On Monday, the euro opened sharply lower after the election results in Greece and Spain. However, the price moves developed in an orderly way. Even more, the single currency showed remarkable resilience and reversed part of the early losses. The test of the 1.2974 support was rejected. The EUR/GBP 0.8068 support remains under pressure.
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Daily Forex Fundamentals |
Written by ICN.com |
May 08 12 07:36 GMT
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For the second consecutive session this week, markets remain unstable and fluctuating with the start of London session as investors are still weighing the French and Greek elections, with fears a conflict might be seen between France and Germany over the means needed to solve the debt crisis.
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Daily Forex Fundamentals |
Written by Jyske Bank |
May 08 12 07:29 GMT
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We have seen small movements following yesterday's strong reaction to the elections in Greece and France. We expect that today will be a day of consolidation and volatility will fall. The financial market is playing the waiting game in respect of Greece. The largest party of the country has given up forming a government; now it is up to the second largest party. If it does not succeed, the third largest party will be in turn and then the president. If none of the parties succeed, new elections will be called. If a new election is called, we assess that this will result in a somewhat calmer development in the financial market.
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Daily Forex Fundamentals |
Written by Dukascopy Swiss FX Group |
May 08 12 07:26 GMT
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German factory orders rose by more than forecast in March, a sign Europe's largest economy is weathering the debt crisis. Order jumped 2.2 per cent in March, after increasing 0.6 per cent in February, said the Economy Ministry in Berlin on Monday.
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Daily Forex Fundamentals |
Written by ICN.com |
May 08 12 07:20 GMT
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Australia recorded a widened trade balance in March, the biggest in five years, where imports rose 5.0% to outpace exports growth in an economy driven by the mining industry. The trade deficit for March unexpectedly widened to A$1587 million revised to –A$754 million, compared with the previous surplus of A$480 million, while the expected was –A$1300 million.
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Daily Forex Fundamentals |
Written by Easy Forex |
May 08 12 06:52 GMT
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The euro (EUR) rose to 1.3065 rebounding from a three-month low at 1.2954 against the US dollar. The single currency tumbled following the elections in Greece and France as investors are concerned about the countries' ability to apply the austerity measures necessary to tackle the eurozone debt crisis. Political uncertainty in Greece continues to weigh on the euro as a first attempt to form a new Greek government failed while investors fear about the country's ability to avoid bankruptcy and stay in the euro. Shares recovered on Tuesday and sentiment in the market appears improved on hopes about a plan to bolster its troubled banks. Focus turns to today's Industrial Production figures from Germany.
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Daily Forex Fundamentals |
Written by Forex.com |
May 08 12 06:33 GMT
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Overnight, the FX and equity markets regained some of their composure following on from yesterday’s risk sell-off on the back of the elections in France and Greece, but investors have consolidated today leading to a slow slide lower for most risk assets.
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Daily Forex Fundamentals |
Written by GCI Financial |
May 08 12 05:17 GMT
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In economic news, on a seasonally adjusted basis, unemployment rate in Switzerland stood at 3.1% in April, in line with the market forecast and compared to a downwardly revised rate of 3.0% in March. Meanwhile, Swiss consumer price index declined 1.0% (YoY) in April, compared to a similar drop in the previous month.
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Daily Forex Fundamentals |
Written by GCI Financial |
May 08 12 05:16 GMT
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For the 24 hours to 23:00 GMT, USD declined 0.41% against the CAD to close at 0.9929. The Canadian Dollar rose after building permits in Canada rose 4.7% (MoM) in March, compared to a 7.6% rise in February, and against the market expectation of 1.5% fall.
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Daily Forex Fundamentals |
Written by GCI Financial |
May 08 12 05:15 GMT
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In Australia, building permits rose 7.4% (MoM) in March, while retail sales rose 0.9% (MoM) in March. Additionally, Australian business confidence climbed to 4.0 in April, compared to a reading of 3.0 in March.
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Daily Forex Fundamentals |
Written by GCI Financial |
May 08 12 05:13 GMT
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The Euro initially came under pressure, after the outcome of elections in Greece and France during the weekend, threatened to derail the region’s plan to tackle its debt crisis. In Greece, neither of the two pro-bailout parties secured enough votes to form a majority in parliament, as voters favored smaller parties who had campaigned against the government austerity program, while in France, President Nicolas Sarkozy was defeated by socialist candidate, Francois Hollande, who has promised to rework the debt deals.
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Daily Forex Fundamentals |
Written by GCI Financial |
May 08 12 05:12 GMT
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Yesterday, the Centre for Economics and Business Research (CEBR) cautioned that unemployment in most parts of the UK is likely to rise over the next five years. The economic think-tank indicated that the overall jobless rate could hit 10.7% by 2016, the highest for more than a decade.In the Asian session, at GMT0300, the pair is trading at 1.6174, with the GBP trading 0.11% lower from yesterday’s close.
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Daily Forex Fundamentals |
Written by GCI Financial |
May 08 12 05:11 GMT
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The minutes of the Bank of Japan’s policy meeting held on April 9 and 10 indicated that policymakers were of the view that Japan’s economic activity was showing signs of improvement. Meanwhile, Japanese Finance Minister, Jun Azumi has warned against speculative yen gains after the European election results and stated that the government is ready to act if needed.
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