Nov 5, 2011

Forex Crunch Forex Weekly Outlook November 7-11

Forex Crunch Forex Weekly Outlook November 7-11

Forex Weekly Outlook November 7-11

Posted: 05 Nov 2011 03:00 AM PDT

An extremely busy week left the dollar stronger against its counterparts. A rate decision in Britain, employment figures in Australia and a speech by Ben Bernanke are the main events this week. . Here is an outlook on the most influential market-movers lined up.

Last week, 80K jobs were added in the US. Although it was a bit under expectations, the drop in the unemployment rate and upwards revisions of previous data offered  some hope. In Europe, the new president of the ECB decided to cut the rates by 0.25% in his first ECB meeting causing European markets to surge. However the political chaos in Greece over the EU bailout proposal keeps everyone edgy. Will Greece accept the bailout deal or quit the euro?

Read the rest of the article Forex Weekly Outlook November 7-11

Forex Crunches for the Weekend – November 5

Posted: 04 Nov 2011 01:15 PM PDT

One of the busiest weeks of the year is behind us. The Greek referendum that came to light at the beginning of the week was called off before it ended. We had a rate cut in Europe, no QE3 in the US and an exciting Non-Farm Payrolls release as always.

The markets are now closed, and its time for some long term forex related reads. Here are my picks. Enjoy!

Read the rest of the article Forex Crunches for the Weekend – November 5

3 Reasons for the Drop in EUR/USD

Posted: 04 Nov 2011 06:28 AM PDT

Euro/dollar is on the fall. The initial reaction to the mixed Non-Farm Payrolls was a move higher, but this was limited and was followed with a slide.

The move then accelerated and EUR/USD already lost one support liine. Here are three reasons for the downfall:

Read the rest of the article 3 Reasons for the Drop in EUR/USD

Employment Data Mixed – Choppy Trading Triggered

Posted: 04 Nov 2011 05:32 AM PDT

The number of US Non-Farm Payrolls rose by 80K in October. This is below official expectations of a gain of around 100K. On the other hand, the unemployment rate edged down from 9.1% to 9%. These figures are not a huge surprise and offset each other. Figures for August and September were revised to the upside though. 

The dollar reacts with an initial drop against the risk currencies such as the euro.  EUR/USD was trading just under resistance at 1.3838, after an earlier attempt to break higher failed. Another move higher followed the publication but was quickly erased. Reaction is mixed as well, but the dollar edges lower.

Read the rest of the article Employment Data Mixed – Choppy Trading Triggered
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