Nov 2, 2011

Forex Crunch Will Bernanke Raise Forecasts? FOMC Preview

Forex Crunch Will Bernanke Raise Forecasts? FOMC Preview

Will Bernanke Raise Forecasts? FOMC Preview

Posted: 02 Nov 2011 04:40 AM PDT

The Federal Reserve took action in the past two meetings, pledging low rates and announcing “Operation Twist. It is likely to take a break now, as conditions improve. 

For the first time since June, the statement will be followed by a press conference by Ben Bernanke. A lack of big announcements in the statement can be complemented with a press conference that can trigger high volatility.

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EUR/USD Nov. 2 – Recovering Despite Weak Figures

Posted: 02 Nov 2011 02:39 AM PDT

Euro dollar is now recovering from lows but remains far from a real change, as the Greek referendum is here to stay. Papandreou will be asked for explanations from his European counterparts today in Cannes. Euro-zone data has been weak.  The focus will temporarily shift to the US, with a significant hint towards the Non-Farm Payrolls and Ben Bernanke’s press conference. 

Here's a quick update on technicals, fundamentals and what's going on in the markets.

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GBP/USD: Trading the British Services PMI

Posted: 02 Nov 2011 02:11 AM PDT

The British Services PMI (purchasing managers' index) is an important leading indicator which focuses on the services industry. As the PMI comes out at the beginning of each month, analysts and traders look closely at the index for any hint of a market trend.

Here are all the details and 5 possible outcome for GBP/USD.

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Greece holds all the wrong cards

Posted: 02 Nov 2011 01:56 AM PDT

Tuesday was the day that this crisis became too big for the EU to handle. By calling a referendum on last week's rescue deal for Greece (the cabinet approved last night), Greece is putting itself onto a path of forced default, which could even happen before the referendum (see below for the numbers).

It's worth noting that the last referendum in Greece was in 1974 (on the abolition of the monarchy) and there were no referendums on EU or euro membership. The price action in bonds yesterday was extremely instructive. UK gilts railed more than 20bp, German bonds by 25bp. French yields were down, as were Dutch, but Belgian, Italian and Spanish were all higher.

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Forex Daily Outlook – November 2 2011

Posted: 01 Nov 2011 03:00 PM PDT

Today we have key events: FOMC Statement in the US and Construction PMI in the UK as the main highlights on today’s outlook. Let’s see what awaits us today.

In the US, FOMC Statement, the key tool that is used by the FOMC regarding monetary policy with investors, and regarding  financial conditions for  other policy measures. It also discusses the outcome of upcoming votes on monetary outlook.

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NZD/USD: Trading the New Zealand Employment Change

Posted: 01 Nov 2011 02:30 PM PDT

The New Zealand employment change indicator, which is released quarterly, provides the earliest indication of the employment situation. The importance of employment numbers, coupled with their publication early in the month could have a significant impact on NZD/USD.

Here are the details and 5 possible outcomes for NZD/USD.

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EUR/USD Loses Important Support on Greek Mess

Posted: 01 Nov 2011 09:52 AM PDT

The trouble in Greece gets worse after the call for a Greek referendum. The internal political mess and very loud criticism now sends EUR/USD below the 1.3650 support line.

Here’s a quick roundup of the major events:

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Canadian Dollar Retreats from Parity on Greek Troubles

Posted: 01 Nov 2011 08:33 AM PDT

The Canadian dollar managed to rise, shine and rise against the greenback, beating parity. But the huge mess following the announcement of a referendum in Greece sent USD/CAD back up.

Canadian GDP for the month of August came out better than expected: 0.3% instead of 0.2%. This joined a positive GDP report for July and shows a nicely growing Canadian economy in Q3 2011.

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Forex Crunch Key Metrics October 2011

Posted: 01 Nov 2011 08:32 AM PDT

October was definitely a dramatic month, but after the extreme action in September and in August, October’s moves were somewhat less volatile.

In October, the forex quarterly report was introduced. At the beginning of November, the new Trade Forex Responsibly eBook was launched, both through a new newsletter. The number of subscribers is presented here for the first time.

Read the rest of the article Forex Crunch Key Metrics October 2011
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