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A curious start to the week for the euro to dollar forex pair, with very little real fundamental news on the economic calendar tomorrow, but instead we have several speeches from FOMC members and between these is an address from President Obama in the US markets. For Europe there are two items of news which start with the Industrial Production figures followed by the Employment Change, with the first of these forecast at -0.3%against a previous of -0.6%. The figures tend to have a relatively muted impact on the forex markets as both Germany and France which constitute over 50% of the European economy, release their figures earlier, and whilst this is considered a leading indicator, the effects are low key for the euro to dollar, and other forex pairs. The only other item for Europe is the Employment Change which is forecast at -0.8%, but again this will have limited impact on the euro dollar.

The afternoon in the US for fundamental news is punctuated by speeches starting with FOMC member Duke, followed by President Obama, and completed with a speech by FOMC Lacker and finally FOMC member Yellen. All four speeches cover some aspect of the financial crisis, so we could see some interesting reactions in the forex markets tomorrow, and indeed many forex analysts and forex market commentators are now suggesting that we may see a significant shift in the US dollar sentiment which is now widely believed to be oversold, and the speeches on Monday could provide the trigger for the US dollar to stage a recovery.

You can keep up to date with all the latest fundamental news on the economic calendar, latest currency news and live currency charts by simply following the links.  I have also included details on an excellent ECN broker.

With the US markets closed for a national holiday on Monday for Labor Day, the only items of fundamental news on the economic calendar for the euro to dollar are in Europe today, with two minor items scheduled for release. The first of these is a composite index, The Sentix Investor Confidence report, which is based on a survey of investors and analysts, and is generally considered to be a leading indicator of the economy. The forecast for today is -13.50, against a previous of -17.0, and with 0 being the tipping point from pessimism to optimism this data is once again expected to show that the economy and market sentiment are improving slowly, but that we have a long way to go before a full recovery is in progress. Should the actual be better than expected then this could be good news for the euro. The only other fundamental news item for today is in Germany with the release of the German Factory Orders data, which is forecast at 2.0% against a previous of 4.5%. Whilst the numbers are down from last time, this may not surprise the markets since this is a monthly data set, and therefore covers the quiet summer months, so whilst the forecast is worse than last time, this is probably only a reflection of the time of year, rather than a deeper underlying malaise.

Finally over the weekend we saw the conclusion of the G20 meeting in London, but as usual there was little meaningful news for the forex markets to absorb, and as a result markets will open today in much the same mood as Friday, but we will have to wait until Tuesday for a return to full trading volumes in the euro to dollar pair.

You can keep up to date with all the latest fundamental news on the economic calendar, latest currency news and live currency charts by simply following the links.  I have also included details on an excellent ECN broker.

Fundamental Forex AnalysisEuro Dollar

Tomorrows fundamental news on the economic calendar starts early for Europe with the release of the Final GDP numbers for Germany, always an important set of data, but as these figures have already been released to the market in the Preliminary version ten days earlier, their impact on the market tends to be muted and tomorrow will be no exception – the forecast is for the figures to be the same as last time at 0.3%, and comes on the back of the preliminary numbers which surprised many economists and analysts with a surprising and unexpected growth figure which may have since queried as being correct, so tomorrow should be interesting. The only other item of fundamental news for Europe is released deep in the forex trading session with the NBB Business climate from Belgium, data compiled by the Bank of Belgium, and yet another composite index based on a survey of manufacturers, builders, services and trade related firms. The forecast for tomorrow is for a slight improvement on last month’s figures at -19.7 against a previous of -22.8, so again we are limping towards the break even point at zero at which point the indicator suggest market condition are improving. Should the number be better than expected then this could be good news for the Euro.

For the US dollar we have a much busier day than yesterday, with four items of news of which the most important is the CB Consumer Confidence Index, followed by the S & P, the HPI and Richmond Manufacturing Index in order of importance. The CB Consumer confidence is a composite index based on a survey of around 5000 households who are asked to rate current market conditions,including labour availability, business conditions, and the overall economy, and the reason it is so important is that is gives us a snapshot of consumer spending which in turn will indicate any future upturn in the economy. Whilst a positive number tomorrow would normally be good for the US dollar, the reverse has been true in the last few months with bad news triggering the buying of US bonds. The forecast for tomorrow is 48.1 against a previous of 46.6, and will be eagerly awaited by the markets for any fundamental forex analysis of the numbers.

You can keep up to date with all the latest fundamental news on the economic calendar, latest currency news and live currency charts by simply following the links.  I have also included details on an excellent ECN broker.