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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 Saxo Bank |
Mar 11 11 10:02 GMT
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The consumer in the U.S. has ramped up spending in the last seven months by 5.7 percent following a slight dip in 2Q2010 when double dip fears resurfaced. Since then the consumer has not only begun to spend again, but also appears to be releveraging her balance sheet again. If we focus on consumer credit then it has risen every month since October, but disposable income has actually grown faster as the economy has changed into a higher gear, meaning that the 'consumer credit to disposable income-ratio' is still declining and is now down to 21.3 percent having averaged at 23.5-24.0 percent in 2000-2007. As long as income grows faster than debt the consumer is still deleveraging though the rate has slowed, which has aided consumption.
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Daily Forex Fundamentals |
Written by Swissquote Bank SA |
Mar 11 11 09:40 GMT
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Just as the war cries of EU sovereign crisis were hitting a crescendo, news of a devastating earthquake in Japan has redirect the market’s attention and provided the EU market with some limited breathing room. Rating downgrades this week, rising CDS prices in Greek and Portugal and growing concerns that the proposed comprehensive rescue plan might fall short of delivering an long-term solution will all take its toll on the Euro and risk appetite. The Japanese earthquake was 382km east of Tokyo, registered a magnitude of 8.9 and was a roughly 10km deep. Initial reports of the damage has been extensive and calls for civic calm have been broadly issued. In addition Japan is still feeling aftershocks and countries throughout the Pacific are on high tsunami alert. As expected, the JPY came under pressure with USDJPY initially climbing to 83.30 then correcting lower. For those looking to draw a comparison between the New Zealand earthquake and NZD - we doubt the effect of this earthquake will affect the JPY to the extent that the other one did the NZD.
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Daily Forex Fundamentals |
Written by KBC Bank |
Mar 11 11 08:47 GMT
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On Tuesday, Moody’s cut the rating of Spain triggering a flaring up of risk aversion and pushing EUR/USD below the 1.3862 support. Initially, EUR/GBP joined this move, but as soon as the BOE policy decision (unchanged) hit the screens, sterling was sold. Today, global uncertainty and risk aversion might continue to dominate currency trading.
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Daily Forex Fundamentals |
Written by Jyske Bank |
Mar 11 11 08:37 GMT
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The extraordinary summit of the 17 heads of state and government of the 17 euro countries will undoubtedly attract much attention. The theme is the German-French proposal for a competitiveness pact with a view to increasing the growth potential and ensure fiscal stability. The proposal was opposed by several euro countries, but particularly Germany links it to its continued support for the EU rescue fund, and undoubtedly the discussions will be intense in the time to come.
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Daily Forex Fundamentals |
Written by Dukascopy Swiss FX Group |
Mar 11 11 08:33 GMT
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The Japanese yen and other Asian currencies dropped sharply against the greenback in Asia Friday after reports of a powerful earthquake in Japan sent investors into safe-haven assets. The 8.9 magnitude earthquake struck Japan Friday afternoon, causing damage in Tokyo and sparking warnings of a six-meter-high tsunami along the country's northeastern coast. At 0650 GMT, the dollar was at JPY83.12 from JPY82.98 late Thursday in New York. The ICE Dollar Index, which tracks the U.S. unit against a trade-weighted basket of currencies including the yen and euro, was at 77.248 from 77.264.
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Daily Forex Fundamentals |
Written by Zhong Jin |
Mar 11 11 08:24 GMT
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Since last week ECB President Jean-Claude Trichet hinted an April rate increase, EUR was spiking against almost all major currencies. After nearly a week, investors’ attention again gradually turned to the debt crisis in Europe.
Now EUR faces another crucial moment: whether EU countries can reach an agreement to further integrate their economic decision making authorities.
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Daily Forex Fundamentals |
Written by Easy Forex |
Mar 11 11 08:07 GMT
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The euro plummeted yesterday after rating agency Moody's downgraded Spain's debt and warned of a further downgrade. The single currency weakened against a basket of currencies as euro zone debt contagion fears resurfaced. Attention now turns to the European leaders meeting at an EU Summit today to agree how to tackle the debt crisis. Against the dollar, the single currency broke below the 1.38 level falling as low as 1.3774 from 1.3912. The euro stepped off its four month high at 1.4035 after euro zone sovereign woes returned to haunt it. Investors now appear cautious to support the single currency as expectations of an early interest rate hike by the ECB fade.
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Daily Forex Fundamentals |
Written by Swissquote Bank SA |
Mar 11 11 08:02 GMT
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Asian markets felt jitters as a strong earthquake measuring 8.8 hit Japan sending stocks tumbling as Nikkei dropped 1.72%, Topix dropped 1.65%, Hang Seng dropped 1.5% and Shanghai Composite was down 0.4%. Downslide in the stocks was earlier aided by Chinese inflation numbers which jumped by 4.9%, more than forecast challenging the government as it prevents price rises amid social unrest. The jump in prices showed that the central bank’s steps have been so far insufficient to contain prices which are the same as other Asian countries which are increasing rates to combat inflation from South Korea to Vietnam. PBOC said that it would use rate hikes to contain price rise as against currency gains which US has been pushing for.
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Daily Forex Fundamentals |
Written by ICN.com |
Mar 11 11 07:13 GMT
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Inflation remains the toughest challenge for the BoE in their journey to shore up the British economy as the rate continues its rise due to the external pressure stemming from the ongoing rise in oil prices. Annual CPI, spiked to 4.0%, the fastest pace in more than two years, in January from 3.7% in December, where prices continue to remain above the BoE' upper limit of 3.0% since February 2010. Today, producer price index for the month of February is predicted to rise to 5.2% from 4.8%, according to the annual output gauge, while the yearly input gauge is estimated to soar to 14.4% from the prior 13.4%. On the monthly basis, output and input indicators are set to decline to 0.6% from 1.0% and 1.5% from 1.7% respectively, according to median estimates.
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Daily Forex Fundamentals |
Written by Forex.com |
Mar 11 11 07:00 GMT
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Although the week here in Asia has ended peacefully with risk seeing slight gains, the markets are bracing for the planned 'Day of Rage' in Saudi Arabia later in the day. While traders were content to buy dips in the EUR/USD at today's bargain prices, the pair may face further headwinds with the Euro Zone's continued sovereign debt troubles looming. The single European currency rose from earlier lows of 1.3775 to just over 1.3830 against the dollar as traders looked to buy dips in the hope that they will pay off with a rate hike from the ECB in the near future.
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Daily Forex Fundamentals |
Written by Trade The News |
Mar 11 11 06:59 GMT
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Today was dominated by Chinese data and the markets waiting for the "Day of Rage" in Saudi Arabia today. Saudi Arabia had recruited an additional 10,000 troops in anticipation of today in addition to their normal 50,000 strong Army. Over 30,000 are ecpected to show up for protesting.
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Daily Forex Fundamentals |
Written by Lloyds TSB |
Mar 11 11 05:37 GMT
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Following China CPI and retail sales releases overnight, attention turns to UK producer prices this morning and US retail sales and consumer sentiment in the afternoon session. UK input prices are forecast to have risen 1.5% in February, taking the annual rate to 14.2% and a 28-month high, as rising oil prices look set to leave their mark. Factory gate inflation looks set to accelerate further to 5.2% in February, also a 28-month high. This should ease over the next two months thanks to large base effects. But without a more genuine turn in commodity prices beyond this period, factory gate inflation will rise further. BoE Governor Mervyn King speaks on stability after the European close.
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Daily Forex Fundamentals |
Written by Easy Forex |
Mar 11 11 05:30 GMT
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U.S. Dollar Trading (USD) heavy stock market losses helped the Dollar to safe haven strength across the board. Weekly Jobless Claims disappointed at 397k vs. 369k previously. Oil fell back on heavy profit taking but spiked higher near the US close on rumors of Saudi unrest. In US stocks, DJIA -228 points closing at 12213, S&P -24 points closing at 1295 and NASDAQ -50 points closing at 2701. Looking ahead, February Retail Sales forecast at 1 % vs. 0.3% previously.
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Daily Forex Fundamentals |
Written by Westpac Institutional Bank |
Mar 11 11 03:26 GMT
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Risk appetite fell sharply across most asset classes, fuelled by events. China's unexpected and sizeable trade defi cit released shortly before London opened was the initial impetus. That was followed by Moody's downgrading Spain to Aa2 (with negative outlook), citing ballooning bank sector support costs which threaten the fi scal position. US jobless claims data then sprung a negative surprise. The S&P500 is currently down 1.3%, testing 1294 major support. Commodities are weaker, oil down 2.7%, copper down 0.3%, and silver down 2.9% and technically weak. US 10yr treasury yields are 5bp lower at 3.42, benefi ting from risk aversion and a successful 30yr auction (5bp below market, 3.0 bid-cover a 10 year high). Eurozone peripheral bonds were contained, despite the Moody's action. The EU summit (Fri-Sat) will probably include debate around member bailouts, Germany saying in advance it opposes any secondary market intervention support for bonds.
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Daily Forex Fundamentals |
Written by ICN.com |
Mar 11 11 02:39 GMT
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The Chinese economy unexpectedly recorded its first trade deficit in a year as Chinese exports declined dramatically while imports rose, the trade deficit though may be a good argument for monetary policy makers to restrain growth and inflation.
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Daily Forex Fundamentals |
Written by Forex.com |
Mar 11 11 02:38 GMT
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The US dollar was markedly stronger as risk aversion took hold of the markets. The combination of Spain’s credit downgrade, China’s February trade deficit, weaker than expected jobs data, and continued MENA turmoil weighed on risk sentiment. The greenback benefitted as a safe haven with EUR/USD falling below 1.3800 to current levels of around 1.3785, GBP/USD plunging to current levels of around 1.6045, and AUD/USD dipping below parity.
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Daily Forex Fundamentals |
Written by FXTimes |
Mar 10 11 20:26 GMT
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In today's market the trio of trade date painted a slightly worrisome picture and helped stocks sell off across the globe.
Adding to anxieties about possible cooling in trade was the downgrade to Spain's credit rating by Moody's Investors which has brought to the forefront the sovereign debt concerns that have been on the market's mind all week.
And finally anxiety over the situation and the impact on oil markets also had market on edge.
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Daily Forex Fundamentals |
Written by FXTimes |
Mar 10 11 15:48 GMT
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The BoE holding rates steady shouldn't have been a surprise to the market, but the GBP softened in any case. The BoE is trying to juggle containing inflation with the prospect of higher rates stalling what is a fragile recovery.
Consumer headline inflation is running at a red hot 4% annual pace, but the main reasons behind that high CPI - higher commodity prices and the imposition of a higher VAT tax - aren't going to respond to a change in the BoE rate. As Bloomberg notes in Bank of England Governor Mervyn King said this month that raising rates too soon would be a "futile gesture."
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Daily Forex Fundamentals |
Written by Dukascopy Swiss FX Group |
Mar 10 11 15:46 GMT
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The dollar Thursday weakened slightly against the euro and yen, but remained solidly up on the day versus those rivals, after weaker-than-expected U.S. weekly jobless claims and trade-deficit data.
The dollar gave up some of its strong gains against the euro, and more modest gains against the yen, after new jobless claims last week rose more than expected; the U.S. trade deficit in January also widened sharply to its highest level in seven months, propelled by a surge in oil prices.
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Daily Forex Fundamentals |
Written by Interactive Brokers |
Mar 10 11 15:36 GMT
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PIMCO's Bill Gross turned bearish on U.S. government debt and eliminated treasuries from the world's largest bond fund ahead of creeping doubts in the health of the recovery. No doubt such bond-dumping by the much-admired PIMCO founder took place before the recent acceleration in crude oil prices, yet the sense of elevated geopolitical risks appears to be a challenge to his view that the Fed is on the verge of exiting its over-easy policy stance. Yields slipped once more on Thursday after signs of slowdown in China spooked global stocks, while selling in the S&P picked up as a recovery in the labor market took a pause.
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