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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 16 12 06:24 GMT
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Commodity currencies and the euro continued their slow march lower as concerns about political uncertainty in Greece continue to dominate investor sentiment, which is putting local data on the backseat. We suspect Greece may continue to be a major driving force behind market sentiment, at least until the Greek election in June.
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Daily Forex Fundamentals |
Written by Trade The News |
May 16 12 06:21 GMT
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Asian equities continued their slide for the 6th consecutive day as the global economic outlook becomes more clouded. Greece failed again for another day to form a new government and there is chatter that fresh elections will be held on June 17th. Germany and France both reiterated their desire for their Southern neighbor to remain in the EU and Asian leaders voice their concerns about the impact of EU uncertainty on their own countries. EUR/USD expanded its range in Asia trade to a 40 pip range from $1.2737-1/2699. Spot gold fell over 0.5% to $1,532, Japan 10-yr bond yield fell to its lowest level since October 2010 to 0.83% a further drop would have taken it to 2003 lows. Bank of Japan (BoJ) purchases under its asset buying scheme failed to reach targets with only about ¥481B in purchases against the ¥600B target.
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Daily Forex Fundamentals |
Written by GCI Financial |
May 16 12 05:05 GMT
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Intially, the Euro received support after reports indicated more-than-expected growth in Euro-zone largest economy, Germany. However, gains were capped after Greek President Karolos Papoulias’ meeting with political leaders in Athens failed to produce a government, deepening speculation that the country would have to leave the currency bloc.
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Daily Forex Fundamentals |
Written by GCI Financial |
May 16 12 05:03 GMT
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For the 24 hours to 23:00 GMT, GBP fell 0.67% against the USD and closed at 1.5993, after goods trade deficit in the UK narrowed to £8.56 billion in March, from £8.59 billion in February. Economists had expected the goods trade deficit to narrow to £8.40 billion.
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Daily Forex Fundamentals |
Written by GCI Financial |
May 16 12 05:02 GMT
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In the US, advance retail sales rose 0.1% in April, compared to a 0.7% growth in March, making it slowest pace rise of the year, while consumer price index rose 2.3% (YoY) in April, in line with the market expectation.
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Daily Forex Fundamentals |
Written by GCI Financial |
May 16 12 05:01 GMT
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In the Asian session, at GMT0300, the pair is trading at 80.37, with the USD trading 0.17% higher from yesterday’s close. The Yen is trading lower after machine orders in Japan fell 2.8% (MoM) in March, after climbing a revised 2.8% in the previous month. Additionally, tertiary industry index fell 0.6% (MoM) in March, against the market expectation of 0.4% contraction.
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Daily Forex Fundamentals |
Written by GCI Financial |
May 16 12 05:00 GMT
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Initially, the Canadian Dollar rose after existing home sales in Canada rose 0.8% in April, from the previous month. The gains were however short-lived after Greek President, Karolos Papoulias’ meeting with political leaders in Athens failed to produce a coalition government after an inconclusive May 6 vote.
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Daily Forex Fundamentals |
Written by GCI Financial |
May 16 12 04:59 GMT
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For the 24 hours to 23:00 GMT, AUD weakened 0.34% against the USD to close at 0.9936, as Greece’s failure to form a new government raised speculation that it may leave the Euro-zone, reducing demand for riskier assets.
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Daily Forex Fundamentals |
Written by FXTimes |
May 16 12 04:06 GMT
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Traders are on a euro watch this week as political uncertainty is driving financial market tension. Today 5/15, a couple of key events headlines the press. 1) Greek coalition talks break down as President Karolos Papoulias says re-election will be taking place. June 17 is the most likely set date. The uncompromising position of the Syriza party, which is anti-euro and austerity, has been noted to be the reason. 2) Hollande and Merkel seem to be able to put differences aside to agree that renegotiation of bailout terms should be had, and that more material “growth” measures have to be included.
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Daily Forex Fundamentals |
Written by ICN.com |
May 16 12 03:22 GMT
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Japanese machinery orders fell in March less than analysts’ expectations, where the reconstruction after the earthquake helped to support the world’s third largest economy to back to growth. Japanese economy announced its Machine orders index reading for March on annually basis to show unexpected decline of -1.1%, compared with a previous of 8.9% a year earlier, while expectations were 3.9%.
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Daily Forex Fundamentals |
Written by Westpac Institutional Bank |
May 16 12 03:19 GMT
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US equity markets were choppy on mixed news flow, little changed until a late NY session slide. The main negative influence earlier was Greece's announcement it will hold fresh elections, probably on either 10 or 17 June, after several attempts at forming a coalition government failed. There was also a report Greek depositors withdrew around EUR 700m from Greek banks on Monday, raising the spectre of capital flight. Economic data was mainly positive, US retail sales and NY regional manufacturing solid, while European GDP of 0.0% for Q1 means it has narrowly missed entering a technical recession (thanks to Germany's strong result). The S&P500 is currently down 0.5%, while the CRB commodities index is up 0.2% (oil and copper -1.3%, gold -0.6%). US 10yr treasury yields are unchanged at 1.77%, as are Australian 3yr yields. Eurozone peripheral yields continued to rise, Greece +225bp to 29.83%.
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Daily Forex Fundamentals |
Written by Forex.com |
May 16 12 03:14 GMT
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A meeting overnight between five party leaders in Athens yielded no breakthroughs in forming a new government. Whilst this was no surprise, the clear lack of cooperation between the various parties is very disconcerting and, accordingly, risk sold off following the meeting.
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Daily Forex Fundamentals |
Written by Forex.com |
May 16 12 03:13 GMT
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The US dollar was significantly higher against most of the majors as Greece failed to form a government and demand for safety persisted amid elevated uncertainty. GBP/USD is currently below the 1.60 big figure, AUD/USD continues to trade below parity, and EUR/USD is currently around 1.2725 and approaching the 2012 lows as the greenback strengthens. The dollar index is currently higher by about +0.83% on the session as it approaches the 2012 highs.
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Daily Forex Fundamentals |
Written by Vantage FX |
May 16 12 03:12 GMT
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European shares settle at their lowest level for 2012 as the attempts to form a Greek coalition government collapses. The Dow Index slid 63.35 points to close at 12,632 while the S&P 500 weakened by 7.69 points to finish at 1,330.66. Earlier in the session the Dax dropped 0.8 percent to settle at 6401.
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Daily Forex Fundamentals |
Written by FXTimes |
May 15 12 19:07 GMT
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Under the spotlight again, Greece is now at the brink of an exit from the European Monetary Union (EMU). Breakdown in coalition talk further puts pressure on the euro. German Finance Minister Wolfgang Schaeuble is calling the vote a “referendum on whether the country stays in the euro” as noted in Bloomberg.com. If the re-election puts an anti-bailout parilament leader in charge ie. Evangelos Venizelos of the socialist Pasok party, we can expect direction of a Greek Exit (Grexit).
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Daily Forex Fundamentals |
Written by Wells Fargo Securities |
May 15 12 14:50 GMT
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As expected, headline consumer price inflation pulled back in April, largely due to a 1.7 percent decline in energy prices. The consumer price index remained unchanged last month, following gains of 0.3 percent in March and 0.4 percent in February. Weighing on the headline index, gasoline prices dropped 2.6 percent, while energy services - including electricity and utility gas services - declined 0.2 percent. Slower growth prospects, domestically and abroad, have helped to alleviate the upward price movement we had seen in oil and gasoline since the start of the year. Indeed, retail gasoline prices are down roughly 18 cents over the past month, which, if sustained, will certainly help consumer spending in the second quarter.
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Daily Forex Fundamentals |
Written by RBC Financial Group |
May 15 12 13:47 GMT
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Expectations for the April 2012 consumer price index (CPI) report were for weakness in energy prices in the month to offset another modest increase in core prices and leave the overall index unchanged from March. In the event, this expectation was confirmed as the overall CPI held steady following March's 0.3% increase as the energy component, which had increased in each of the previous three months, declined by 1.7% thereby reflecting a 2.6% decline in gasoline prices. On a year-over-year basis, the overall inflation rate moderated to 2.3% from 2.7% in March. This represented the slowest pace of annual growth since February 2011.
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Daily Forex Fundamentals |
Written by RBC Financial Group |
May 15 12 13:44 GMT
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Retail sales rose a modest 0.1% in April 2012, slowing from sizeable 0.7% and 1.0% gains in March and February, respectively. Sales of motor vehicles and parts rose for a third consecutive month, posting a 0.5% increase that was in line with a previously reported 0.4% rise in unit vehicle sales in the month.
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Daily Forex Fundamentals |
Written by Forex.com |
May 15 12 10:39 GMT
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It’s official, the German economy is single handed propping up the Eurozone after its economy grew five times more than forecast in the first quarter. Growth expanded by 0.5% on the quarter, pushing the annual growth rate to 1.2%, which is fairly healthy considering how dire the growth outlook is elsewhere in the currency bloc. We know that some large German companies like BMW had their best ever quarter in the first three months of the year, thus there were signs that Germany could do better than expected. But what is surprising is that even though Italy contracted more than expected at 0.8% in the first quarter, the Eurozone managed to avoid a recession and registered flat growth overall between January and March.
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Daily Forex Fundamentals |
Written by ICN.com |
May 15 12 10:36 GMT
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Several factors are affecting the high yielding euro right now, where with the heavy load of fundamentals and events the euro is not able to define the intraday trend so far. Meanwhile, the sentiment is still mixed as Greeks still cannot reach an agreement regarding the creation of a government, while Moody`s downgraded 26 Italian banks, yet positivity remains stronger as the euro-region didn’t slip into recession after posting steady GDP figures.
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