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FXstreet.com: Fundamental
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FXstreet.com: Fundamental
  • Markets Consolidate, ECB to Continue to Support Banks, US Housing Data Surprises
    Currency markets mainly consolidated ahead of tomorrow’s non-farm payroll report. The ECB extended its unlimited cash to banks throughout this year, an attempt to not take away special liquidity measure when financial markets remain fragile. US data showed labor producitivy slid in the 2nd quarter – a sign companies may have to start hiring, while a measure of pending home sales surprised on the upside – a rare positive release for the US housing market.




  • GBP/USD: Technicals and Fundamentals show negative signs
    Weak British data did not help the Pound as higher beta currencies gained during the European session. The Pound remained under pressure as a sway of negative news announcements pushed the currency lower. In the forefront of negative economic events were housing figures. Construction PMI printed well below the forecast of 53.5 coming in at 52.1. The following figure is on a verge of dipping below a pivotal 50 boom/bust line. Construction PMI figures printed the lowest figures since April of




  • ECB meeting: A double dip is not on the cards
    Full allotment at all auctions was extended until year-end and interest rates were kept unchanged as expected. Trichet was softer in tone than at the last meeting, but did not seem too concerned about the risk of a double dip: “A double dip is not on the cards in our own analysis”. The staff growth forecasts were revised upward – in particular for this year – whilethe inflation forecast was revised a little up for both 2010 and 2011. Taking a pause on the exit path As expected the ECB kept all




  • US: Factory Orders Rose Modestly in July
    Factory orders grew a modest 0.1 percent in July, breaking two consecutive months of decline. June factory orders were revised to a mere 0.6 percent drop from a previously reported 1.2 percent decline. Factory Orders Hold Their Ground in July Following disappointing data from the July durable goods report and regional manufacturing surveys for August, yesterday’s ISM manufacturing index and today’s factory orders report reveals a more benign manufacturing environment. Fears of a double-dip




  • Yields continue to unwind ahead of key NFP
    There was little to read into Thursday’s initial claims report ahead of an expected 100,000 dip for U.S. employment throughout August. Yet the better tone indicated by the health of global manufacturing and what earlier appeared to be a bolt-out-of-the-blue in the shape of returning consumer confidence continues to weigh on bond prices. For a second day yields are moving rapidly higher. Australian bills – Short-dated yields down under continued to rise for a second day as investors took back





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