Forex Previews

Forex News – Action-packed week for markets ahead with ECB and NFP

Posted on November 4, 2013 at 9:06 am GMT

The current week is expected to feature many interesting events for market participants. This is particularly the case given the markets’ big focus on the monetary policy of developed countries’ central banks and the forward guidance they are issuing. The week starts in more quiet fashion as on Monday, various manufacturing (PMI) and economic sentiment surveys are released in Europe. Purchasing Managers’ Index surveys are important leading indicators for the economy and have shown to have strong predictive powers for [..]

Forex news – The Fed keeps its printing presses on but will the dollar continue its decline?

Posted on October 31, 2013 at 9:32 am GMT

The news that the Federal Reserve left its policy unchanged during its 2-day meeting on October 29-30, was in line with market expectations. The Fed’s overall assessment is that since September, incoming information “generally suggests that economic activity has continued to expand at a moderate pace”. In addition, both developments in the labor market as well as on inflation, were seen in a positive manner by the Fed. Something that is a serious drag on the economy [..]

Forex News – US Dollar weak after ADP jobs disappoint, focus shifts to FOMC

Posted on October 30, 2013 at 3:20 pm GMT

The ADP monthly employment change report was released today, creating disappointment as it missed forecasts, and raised concern about the US labor market recovery. Fewer than expected jobs were created in the private sector in October, possibly as a result of the 16-day government shutdown earlier this month. There were expectations for 150,000 jobs to be added to the US economy, while only 130,000 were actually added. This was the smallest gain in jobs since May. Adding to disappointment was [..]

Forex News – US retail sales for September good, August house prices higher

Posted on October 29, 2013 at 2:52 pm GMT

(Source: ThomsonReuters) Retail sales were down 0.1% versus expectations for a gain of 0.1%. However, excluding automobile sales, which were down 2.2% on the month, retail sales were up a respectable 0.4%. According to the media, the figures were boosted by sales of electronics and software, such as Apple’s new iPhone and a new release of the popular videogame “Grand Theft Auto”. Although automobile sales were weak, some of the drop could be attributed to calendar issues like labor-day weekend [..]

Forex news – UK economic growth very good during third quarter

Posted on October 25, 2013 at 9:39 am GMT

The news that the UK economy grew by 0.8% quarter-on-quarter during the third quarter and by 1.5% on annual basis was welcomed as positive. The figures were exactly in line with economists’ expectations and did not move sterling by much. They served more as a confirmation that the UK was on a positive course. The quarterly growth rate of 0.8% marked the best performance in three years as it was the fastest rate since the second quarter of 2010. The [..]

Forex news – September employment report disappoints

Posted on October 23, 2013 at 9:08 am GMT

In arguably the most important economic news of every month, the headline number of the number of jobs created in the US during September was less than expected. Specifically, 148 thousand jobs were created against expectations of a gain of 185 thousand. Revisions to the previous months’ releases were also important, with the downwardly revised July figure showing a particularly weak reading of 89 thousand jobs – the weakest number for more than a year. On a more positive note, [..]

Forex News – Existing home sales show positive but cooling US housing

Posted on October 22, 2013 at 9:58 am GMT

(Existing Home Sales, 30-year fixed mortgage rate. Source: NAR, MBA, Thomson Reuters) The release of existing home sales for September marked a welcome resumption of economic data releases from a market that has been missing its regular dose of US economic news due to the shutdown. The figures were in line with expectations, showing a monthly decrease of 1.9% to an annualized seasonally adjusted 5.29 million homes sold. Existing home sales are represented by the orange line in the chart [..]

Forex news – Japanese export growth misses expectations

Posted on October 21, 2013 at 10:30 am GMT

(Japanese exports, year-on-year % change 2008-2013, Source: Japan Ministry of Finance, Reuters) The news that Japanese exports during September climbed by 11.5% year-on-year may sound like an excellent performance at first reading. However, when compared to economists’ expectations of a rise of 15.6% and August’s 14.6% growth, then this sudden reduction in the growth rate of exports could be cause for concern. Formerly one of the world’s export powerhouses, Japan has posted a trade deficit every month since late 2011. [..]

Forex News – China’s economy humming along at 7.8% in Q3

Posted on October 18, 2013 at 11:48 am GMT

As the world’s second largest economy and – despite the relative slowdown – one of the fastest-growing economies in the world, China is very important for the world economy and the pace of world economic growth. China is also one of the few countries that announce quarterly growth figures so soon after the end of each quarter. Chinese GDP for the third quarter grew 7.8% compared to a year earlier, accelerating from the second quarter’s growth rate of 7.5%. For [..]

Forex News – Washington deal: rejoice or get ready for the next fight?

Posted on October 17, 2013 at 9:20 am GMT

News that a deal was done and dusted in Washington on the eve of the expiration of the debt ceiling was greeted with relief by investors, who pushed equities sharply higher. The US dollar however did not greet the news with the same enthusiasm, actually selling off after the news was digested. So what lessons can be learned from the standoff experience? The first lesson is that Washington dysfunction reached a whole new level with the government shutdown and the [..]

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