Sep 21, 2011

Forex Crunch EUR/USD Sep. 21 – Tight in Range Before Bernanke

Forex Crunch EUR/USD Sep. 21 – Tight in Range Before Bernanke

EUR/USD Sep. 21 – Tight in Range Before Bernanke

Posted: 21 Sep 2011 02:47 AM PDT

Euro dollar is trading in a narrowing range as tension mounts towards the FOMC meeting. The Fed is expected to “do something” or more than one thing to help the economy. In Europe, there is more hope for Greece, as talks with the troika are moving forward. The market’s direction will be clearer soon. 

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

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GBP/USD Loses Support on Dovish Meeting Minutes

Posted: 21 Sep 2011 01:34 AM PDT

GBP/USD loses support and and is testing lower ground. This comes after the meeting minutes of the latest rate decision in Britain were quite dovish.

While only one member voted for expanding the QE program right now, this option was seriously discussed by other members as well. Adam Posen might not remain alone next month. When will QE2 in Britain be realized?

Read the rest of the article GBP/USD Loses Support on Dovish Meeting Minutes

Crunch time for the Fed

Posted: 21 Sep 2011 01:10 AM PDT

A shy, retiring, conservative central banker he is not. Frequently in his reign as Fed Chairman, Ben Bernanke has been prepared to explore and implement bold policy responses in the face of immense financial and economic challenges. Witness his response to the 2008 financial crisis; his preparedness to allow the Fed's balance sheet to expand almost exponentially (through both QE1 and QE2); and, his decision to maintain the funds rate at essentially zero for two years at the last FOMC meeting.

As such, given his track record, simply expecting the Fed Chairman to acquiesce to a twist operation today may be underestimating his ambition. In the first instance, it is questionable how much value a twist would actually be in terms of addressing the lack of aggregate demand in the economy. Also, with short term interest rates essentially zero and long-term rates below 2%, it is not clear that an operation designed to further reduce the cost of long term borrowing will succeed against the backdrop of a private sector still intent on deleveraging.

Read the rest of the article Crunch time for the Fed

NZD/USD: Trading the New Zealand GDP

Posted: 20 Sep 2011 04:45 PM PDT

The Gross Domestic Product (GDP), is a quarterly index which measures the production and growth of the economy. Analysts consider GDP one of the most important economic indicators, thus the publication of the New Zealand GDP may well have a critical effect on NZD/USD.

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

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Forex Daily Outlook – September 21 2011

Posted: 20 Sep 2011 02:00 PM PDT

US Existing Home Sales and FOMC Statement are the major market-movers. Here is an outlook on the important events lined up for us todat.

In the US, Federal Open Market Committee (FOMC) Statement, key tool used by the FOMC that affects the investors regarding the monetary policy & the financial outlook. And the Federal Funds Rate remains with no change from the previous months 2.5%.

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Market Direction To Become Clearer After Wednesday

Posted: 20 Sep 2011 10:00 AM PDT

Christopher Vecchio, a currency analyst with DailyFx.com discusses the upcoming FOMC meeting and sees a small chance for big move. He analyzes the impact on commodity currencies, oil and gold and sees a negative outcome for them. 

Vecchio also discusses the situation in the euro zone and lays out an option of a split with the monetary union, a split that may push the new currency union higher. This and more about the yen, franc and the pound, in the interview below:

Read the rest of the article Market Direction To Become Clearer After Wednesday

FXCM Sponsors the CNBC Million Dollar Portfolio Challenge

Posted: 20 Sep 2011 09:15 AM PDT

US Forex Broker FXCM enhances the cooperation with CNBC and will now sponsor the One Million Dollar Portfolio Challenge – a virtual trading contest where each participant get 1 million virtual dollars and can trade currencies as well as stocks.

FXCM already sponsors CNBC’s Money in Motion Currency Trading TV show. With current stock market performance, will more participants dive into forex trading? Hopefully this sponsorship will assist the whole industry and maybe the winner will lean towards trading currencies rather than stocks.

Read the rest of the article FXCM Sponsors the CNBC Million Dollar Portfolio Challenge

USD/JPY: Trading the Existing Home Sales Release

Posted: 20 Sep 2011 08:00 AM PDT

 The Existing Home Sales Report is an important economic indicator, considered by analysts as a good measure of consumer demand in the housing sector. As a house is likely to be the largest purchase that a consumer will make, this indicator provides critical data about the mood of consumers and the health of the economy. A higher reading than the previous month points to a growing economy and may help the dollar rise.

Here are all the details, and 5 possible outcomes for USD/JPY.

Read the rest of the article USD/JPY: Trading the Existing Home Sales Release
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