Blog Marco

We're moving websites and shifting to a subdomain on Blog.ForexTradingHQ.com. Hope you keep enjoying the fresh forex news! Thanks!

Image Caption: Forex currency price chart of GBP and USD Image: Body: Optimism Returns, Risk Trades Back On U.S. Dollar Trading (USD) U.S. Dollar Trading (USD) was sold across the board as demand for the safe haven eased and the market bought stocks and commodities aggressively. Company Earnings were strong but economic data was a little weak with Weekly Jobless Claims at 464k vs. 449k previously.In US stocks, DJIA +201 points closing at 10322, S&P +24 points closing at 1093 and NASDAQ +58 points closing at 2245. European Euro The Euro (EUR) rallied aggressively after some strong economic data and improvement in sentiment helped lift the pair back to the 1.2900 level. The market is eagerly awaiting the European stress tests released at 1400 GMT. July EU Manufacturing PMI jumped 56.5 vs. 55.2.EUR/USD traded with a low of 1.2736 and a high of 1.2934 before closing at 1.2890. Looking ahead, German July IFO forecast at 101.5 vs. 101.8 previously. Article with Image: Full Size Image occupying Whole width of Column

Image Caption: Forex currency price chart of AUD and USD Image: Body: US Bank Chief Dampens Mood U.S. Dollar Trading (USD) U.S. Dollar Trading (USD) risk was taken off the table as the market reacted to Fed Chief Bernanke's comments the US recovery was 'unusually uncertain'. Stocks fell back and the Yen strengthened as the safe haven of choice. In US stocks, DJIA -109 points closing at 10120, S&P -13 points closing at 1069 and NASDAQ -35 points closing at 2187. Looking ahead, Ben Bernanke Speaks before Congress. Article with Image: Full Size Image occupying Whole width of Column

Image Caption: Forex currency price chart of XAU and USD Image: Body: Euro Trades Briefly Above 1.3000 U.S. Dollar Trading (USD) U.S. Dollar Trading (USD) volatility was evident in a wide range of markets yesterday with sentiment turning from very negative to extremely positive over the trading day. Weak results from IBM and Housing data missing expectations sent the Dow Jones Index down at the start of trade for a test of the key 10000 level before rebounding aggressively for the rest of the day. In US stocks, DJIA +75 points closing at 10230, S&P +12 points closing at 1083 and NASDAQ +24 points closing at 2222. Looking ahead, Ben Bernanke Speaks before Congress. Article with Image: Full Size Image occupying Whole width of Column

Image Caption: Forex currency price chart of EUR and USD Image: Body: Markets Bounce after Friday's Sell off U.S. Dollar Trading (USD) U.S. Dollar Trading (USD) bargain hunting began in Asia with stocks staging a modest rally around the globe. US Company Earnings were quite positive but after the bell IBM released results that missed expectations and US futures turn negative. In US stocks, DJIA +56 points closing at 10154, S&P +6 points closing at 1071 and NASDAQ +19 points closing at 2198. Looking ahead, June Housing Starts forecast at 0.57mn and Building Permits forecast at 0.58mn. Article with Image: Full Size Image occupying Whole width of Column

Image Caption: Forex currency price chart of USD and JPY Image: Body: USD Sold on Economic Concerns U.S. Dollar Trading (USD) U.S. Dollar Trading (USD) some surprisingly weak US manufacturing data sent US stock markets and the USD down overnight. The Empire State survey dropped to 5.1 vs. 18 forecast. Strong Company Earning offset some of the losses as did the news of BP closing the oil leak and Goldman Sachs settling with the SEC. In US stocks, DJIA -7 points closing at 10359, S&P +1 points closing at 1096 and NASDAQ -1 points closing at 2248. Looking ahead, June CPI is forecast at 0.1% vs. 0.1% previously. Also released, UoM Consumer Confidence forecast at 68.4 vs. 69.8 previously. Article with Image: Full Size Image occupying Whole width of Column

Image Caption: Forex currency price chart of AUD and USD Image: Body: Equity Rally moves into 6th Day U.S. Dollar Trading (USD) U.S. Dollar Trading (USD) positive sentiment and continuation of gains in the US session saw risk currencies and the Euro trade at fresh month highs. May's Trade balance was weak at -42bn vs. -39bn forecast but this was overlooked as company earnings from Intel beat estimates. In US stocks, DJIA +146 points closing at 10363, S&P +16 points closing at 1095 and NASDAQ +43 points closing at 2242. Looking ahead, June Retail Sales are forecast at -0.2% vs. -1.2% previously. Also Released, Weekly Crude Oil Inventories are forecast at -1.1mn vs. -5mn previously. Article with Image: Full Size Image occupying Whole width of Column

Image Caption: Forex currency price chart of EUR and USD Image: Body: US Q2 Company Earning in Focus U.S. Dollar Trading (USD) U.S. Dollar Trading (USD) the market remained cautious but optimistic Monday ahead of the start of US company earning releases. Alcoa was in focus after hours in New York and strong numbers help lift US futures to fresh month highs. Risk appetite may be tempered however as Eurozone concerns still linger and important Chinese data is slated for release later in the week. In US stocks, DJIA +18 points closing at 10216, S&P +1 points closing at 1078 and NASDAQ +2 points closing at 2198. Looking ahead, May Trade Balance is forecast at -39bn vs. -40bn previously. Article with Image: Full Size Image occupying Whole width of Column

Body: Euro Finds Support as Stock Selling Continues Last week’s Currency Trading Review The Dollar was under broad based pressure last week as stocks staged a 4 day rally the biggest since May and the Euro and risk currencies surged. Oil Rallied $4 a barrel and the Dow Jones Index reclaimed the key 10000 level on Wednesday with an impressive 300 point gain. US June Services PMI slipped to 53.8 vs. 55.4 previously and confirmed that the speed of the US recovery is stalling. One positive note however was the drop in Weekly Jobless Claims to 454k vs. 475k previously. The Euro was able to move higher on easing Eurozone crisis concerns and talk of solid bank stress tests to be released on July 23. CDS spreads dropped considerable on European banks and Greece adding to the Euro Rally. The ECB held at 1.0% on Thursday and President Trichet commented that some investors were too pessimistic about the future of the EU. The EUR/USD gained +0.59% closing at 1.2640, after opening the week at 1.2565.

Image Caption: Forex currency price chart of XAU and USD Image: Body: Oil Finishes Solid Week Above $76 U.S. Dollar Trading (USD) U.S. Dollar Trading (USD) the relief rally continued on Friday with stocks finishing at fresh month highs and investor sentiment remaining strong as Eurozone Banking concerns recede. Focus this week will turn to Q2 Company earning and the subsequent fluctuations of the stockmarket. In US stocks, DJIA +59 points closing at 10198, S&P +7 points closing at 1077 and NASDAQ +21 points closing at 2196. Looking ahead, Fed's Lacker Speaks. Article with Image: Full Size Image occupying Whole width of Column

Image Caption: Forex currency price chart of EUR and USD Image: Body: Rally Continues, Risk On U.S. Dollar Trading (USD) U.S. Dollar Trading (USD) with more positive news in the IMF upgrading World GDP to 4.6% vs. 4.2% the market extended its rally for a third day. The USD was weaker against most currencies as the safe haven was sold in preference for riskier assets. Weekly Jobless Claims dropped to 454k vs. 472k previously. In US stocks, DJIA +120 points closing at 10138, S&P +9 points closing at 1070 and NASDAQ +15 points closing at 2175. Looking ahead, May Wholesale Trade forecast at 0.5% vs. 0.7%. Article with Image: Full Size Image occupying Whole width of Column

Image Caption: Forex currency price chart of GBP and USD Image: Body: Bulls Return in Force U.S. Dollar Trading (USD) U.S. Dollar Trading (USD) was sold off aggressively in the European and US sessions as the Dow Jones posted its biggest rally since May. The only currency the Greenback could gain against was the other safe haven in the Japanese Yen with traders scrambling to cover positions given the dramatic shift in investor sentiment. In US stocks, DJIA +274 points closing at 10018, S&P +32 points closing at 1060 and NASDAQ +65 points closing at 2159. Looking ahead, Weekly Jobless Claims are forecast at 460k vs. 472k previously. Article with Image: Full Size Image occupying Whole width of Column

Image Caption: Forex currency price chart of XAU and USD Image: Body: Asia Sparks Global Rally U.S. Dollar Trading (USD) U.S. Dollar Trading (USD) continued to be under pressure as the stock market rallied and US data disappointed. June ISM Services dropped to 53.8 vs. 55.4 previously and confirms a long string of recent data that the US economy is growing slower than previously. In US stocks, DJIA +57 points closing at 9743, S&P +5 points closing at 1027 and NASDAQ +2 points closing at 2093. European Euro The Euro (EUR) continued to press higher breaking above 1.2600 as European stocks rallied more then 2%. The European Debt crisis is subsiding for now as a Spanish Bond offering yesterday went well. Market focus is now turning to the European Bank Stress tests slated for release on July 23.EUR/USD traded with a low of 1.2480 and a high of 1.2664 before closing at 1.2610. Looking ahead, Q1 GDP is expected to be confirmed at 0.2% q/q. Article with Image: Full Size Image occupying Whole width of Column

Body: Euro Finds Support as Stock Selling Continues Last week’s Currency Trading Review The Dollar fell sharply against the majors as US economic data soured investor appetite for the safe haven. June CB Consumer Confidence fell to 52 vs. 62 previously and May ISM Manufacturing slipped to 56.2 vs. 59.7 previously. Also very weak, May Pending Home Sales -30% m/m. US Jobs data was little better with -125k losses vs. +433k previously. As stock market fell however, the Dollar was stronger then risk currencies which tracked the slumping Oil lower. The Euro rallied aggressively as Eurozone banking concerns receded after successful refinancing from the ECB on Wednesday and Thursday. When US data weakened as well the catalyst for a major rally saw the Major move from 1.22 to 1.26 in 48 hours. EUR/GBP was also on the move as short covering pushed the pair back to 0.8300. The EUR/USD gained +1.56% closing at 1.2565, after opening the week at 1.2369.

Image Caption: Forex currency price chart of GBP and USD Image: Body: Stock Markets Under Pressure -- Risk Off U.S. Dollar Trading (USD) U.S. Dollar Trading (USD) with the US away on Holiday today the market took most of its cue from Europe which traded with a heavy tone. With the weak sentiment still remaining from Friday's Non Farm Jobs Report the market will be looking to today's ISM Services number for more information about the state of the US economy. In US stocks, DJIA -46 points closing at 9686, S&P -4 points closing at 1022 and NASDAQ -9 points closing at 2091. Looking ahead, June ISM Services forecast at 55.1 vs. 55.4. Article with Image: Full Size Image occupying Whole width of Column

Image Caption: Forex currency price chart of USD and JPY Image: Body: USD Tumbles on Weak Economic Data U.S. Dollar Trading (USD) U.S. Dollar Trading (USD) in a break with recent correlations the USD was sold off yesterday even as the stock markets came under heavy selling pressure at the start of US session. The movement was extreme especially on the Euro which gained more than 300 pips over a 12 hour period. Weekly Jobless Claims came in at 472k vs. 454k previously. In US stocks, DJIA -41 points closing at 9732, S&P -3 points closing at 1027 and NASDAQ -7 points closing at 2102. Looking ahead, June Non Farm Payrolls are forecast at -110k.vs 431k previously. June Unemployment Rate is forecast at 9.8% vs. 9.7%. Article with Image: Full Size Image occupying Whole width of Column

Image Caption: Forex currency price chart of GBP and USD Image: Body: Risk Taken Off the Table U.S. Dollar Trading (USD) U.S. Dollar Trading (USD) stock markets continued to fall in the US session with the market unable to stage a sustained rally. June US ADP Employment report spooked the market at +13k vs. +60k forecast and helped reverse a buoyant European session. In US stocks, DJIA -96points closing at 9774, S&P -10 points closing at 1030 and NASDAQ -25 points closing at 2109. Looking ahead, Weekly Jobless Claims are forecast at 452k vs. 457k previously. Article with Image: Full Size Image occupying Whole width of Column

Body: China lets Currency Strengthen into the G20 meeting Last week’s Currency Trading Review The Dollar a global stock market rally on news that China will allow the Yuan to strengthen overtime was quickly discounted and stock markets spent the rest of the week falling heavily. The Safety of the USD saw it hold its own against most currencies but there was some notable exceptions (Pound and Yen). Housing data was extremely weak with New home sales slumping to 300k vs. 446k previously and Existing home Sales falling to 5.665m vs. 6.17mn previously. One Bright spot was the improvement in UoM Consumer Sentiment which jumped to 76 vs. 75.5 previously. The Fed also met during the week and held rates at 0.25% as widely expected. The Euro had a mixed week rallying in the beginning before falling sharply on Friday as stock market losses mounted and EUR/GBP broke lower. German IFO held up surprisingly well in June increasing to 101.8 vs. 101.5 previously. May EU Industrial Orders missed at 0.9% vs. 1.6% forecast. The EUR/USD fell -0.14% closing at 1.2369, after opening the week at 1.2386.

Image Caption: Forex currency price chart of XAU and USD Image: Body: Mild Market Weakness in a Quiet Start to the Week U.S. Dollar Trading (USD) U.S. Dollar Trading (USD) gained on the back of Euro weakness with traders still buying the Dollar for its safe haven status. May Core PCE increased 0.2% vs. 0.1% previously and Personal income increased 0.4% m/m. In US stocks, DJIA -5 points closing at 10138, S&P -2 points closing at 1074 and NASDAQ -2 points closing at 2221. Looking ahead, June CB Consumer Confidence forecast at 62.8 vs. 63.3 previously. Article with Image: Full Size Image occupying Whole width of Column

Image Caption: Forex currency price chart of AUD and USD Image: Body: Market Mood Improves into the Weekend U.S. Dollar Trading (USD) U.S. Dollar Trading (USD) finished weaker across the board as stock markets recovered some of the week’s losses into the weekend. Weak US data did not help but was overlooked as buyers took control of the market. Q1 GDP was revised to 2.7% vs. 3.0% previously. In US stocks, DJIA -8 points closing at 10143, S&P +3 points closing at 1076 and NASDAQ +6 points closing at 2223. Looking ahead, May Core PCE is forecast at 0.1% vs. 0.1% previously m/m. Article with Image: Full Size Image occupying Whole width of Column