After hitting a three month high against the U.S. dollar in trading yesterday, the euro took some slight losses last night, falling some 30 pips against the greenback. The overall trend for EUR/USD is still up, especially ahead of the U.S. Advance GDP figure, which is forecasted to show a slight decrease from the previous report.

Summary

USD - Dollar Manages Slight Gains, But Remains Low Overall

EUR - EUR Records Gains on USD, Losses Against JPY and CHF

JPY - Safe Haven Yen Climbs Vs. Rivals

OIL - Crude Oil Jumps in Overnight Trading

market | trend | fundamental | technical | analysis | eur | USD | gdp | forecast | yen | oil

The Dollar appreciated against the most of its major counterparts on Tuesday, as a drop in U.S. consumer sentiment to a five-month low cut risk appetite. Yesterday, the CB Consumer Confidence index for July fell to 50.4, below its expected reading of 51.3, as Americans become increasingly concerned over the stability of their jobs and their wages.  Meanwhile, a separate report showed that home prices rose more than predicted in May as a government tax credit underpinned sales.

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After a long time waiting, the Euro-Zone's famous Bank Stress Tests results were finally published on Friday evening. The results failed to reassure investors regarding the stability of the European banking system as analysts claimed that the test weren't strict enough. As this week begins, the reliability of the tests will remain the main topic. Will it eventually boost the Euro?

Summary

USD - The Dollar Ends A Volatile Trading Week Following Mixed Data from the U.S.

EUR - Stress Tests Fail to Ease Investors' Concerns from a Possible Debt Crisis

JPY - Yen Weakens Against the Majors

OIL - Crude Oil Prices Consolidates Around $79 a Barrel

market | trend | fundamental | technical | analysis | currency | bank | stress | test | euro | reliability | stability | results

Both the euro and British pound fell against the safe haven currencies yesterday, following a speech from FED Chairman Bernanke which caste doubt over the pace of the global economic recovery. While the euro has traded steadily against the U.S. dollar in overnight trading, it continues to fall against the yen.

Summary

USD - USD Sees Moderate Gains Following Return to Risk Aversion

EUR - Euro Breaks its Bullish Streak. Falls Against Yen

JPY - Yen Soars Against Majors as Risk Aversion Returns

OIL - Oil Prices Tumble Following Surprise Increase in Reserves

market | trend | fundamental | technical | analysis | currency | Bernanke | speech | eur | gbp | tumble | british | pound | fed | chairman | global | economic | recovery

The U.S. dollar edged lower against the yen throughout morning trading today, following a drop in risk taking ahead of a key announcement from the Bank of Japan (BOJ). Investors are cautiously awaiting a decision on whether the BOJ will intervene to limit yen growth. Japan is an export driven economy, meaning a strong yen limits the volume the country is able to sell. USD/JPY, currently trading around the 86.85 level, is still fairly close to the 7-month low the pair hit last week. The greenback appears to be fairing slightly better against the euro. EUR/USD has dropped some 100 pips since this morning, and is currently trading around the 1.2900 level.

In addition to the BOJ statement, traders will want to pay attention to the U.S. Building Permits report at 12:30 GMT as well as the Bank of Canada Rate Statement at 13:00 GMT. The U.S. economy has seen a string of negative news events over the last few weeks. Should the new building permits number come in above the forecasted 0.57M, the greenback could stage an afternoon rally against the yen. Analysts are predicting the Bank of Canada to raise overnight rates from 0.50% to 0.75%. If true, the loonie will likely see some gains against its main counterparts in afternoon and evening trading.

Dollar and Euro Strengthen Despite Negative News

In a light trading day, the dollar was higher against most of the majors, with the lone exception being the euro. Risk aversion was lower as traders shrugged off the downgrade of Ireland's credit rating as U.S. equities finished higher despite negative housing data from the U.S. economy.

Summary

USD - Greenback Rises with Equities

EUR - Moody's Downgrades Ireland's Sovereign Debt

JPY - Potential Intervention by the Bank of Japan?

Crude Oil - Spot Crude Oil Flirts with 200-Day Moving Average

market | trend | fundamental | technical | analysis | currency | boj | statement | dollar | bank of japan | building permits | report | Canada rate

The U.S. Core CPI is the primary publication today that is set to determine the level of the dollar when the report is released at 12:30 GMT. The other main releases that are set to dominate forex trading, especially for currencies such as the dollar and euro is the publication of the U.S. TIC Long Term Purchases and Prelim Consumer Sentiment at 13:00 GMT and 13:55 GMT respectively. Traders may find good opportunities to enter the market following these vital announcements.

Summary

USD - USD Falls on Negative Economic Data

EUR - EUR/USD Hits 2-Month High

JPY - Yen Experiences Mixed Results against Major Currencies

OIL - Oil Prices Fall Based on Weak U.S. Data

market | trend | fundamental | technical | analysis | currency | release | us | core | cpi | report | long term purchases | prelim | consumer sentiment | opportunities | vital | announcements

Due to renewed concerns regarding the Euro-Zone's debt crisis and due to the beginning of earning season in the U.S, the Dollar slightly strengthened against the Euro yesterday. However, what will determine the direction of the Dollar today is likely to be the economic data which is expected from the U.S. and the Euro-Zone, especially the U.S. Trade Balance report. Will the Dollar see another day of rising trend?

Summary

USD - Dollar Strengthens As Second-Quarter Earnings Season Begins

EUR - Euro Tumbles on Concerns Stress Tests Won't Ease Investors

JPY - Yen Rises as Risk Aversion Increases

OIL - Crude Oil Drops To $75.50 a Barrel

season | earnings | economic data | debt | crisis | euro | dollar | support | report | balance | trade | us | currency | analysis | technical | fundamental | trend | market

The 1-0 over-time victory of Spain over the Netherlands in yesterday's World Cup Final has generated an interesting question among market analysts. Does this victory put optimism and positive sentiment back into Spain's crumbling economy? Can it boost short-term growth enough to add further momentum to the euro's latest gains against its primary rivals?

Summary

USD - USD Sinking Under Weight of Risk Appetite

EUR - Does Spain's Victory in the World Cup Help the EUR?

JPY - Kan's Democratic Party Defeat Saps JPY Strength

OIL - Chinese Imports and Weak USD Boost Oil above $76

oil | weak | jpy | kan democratic party | eur | USD | economy | sentiment | positive | Netherlands | risk appetite | victory | world cup | spain | currency | analysis | technical | fundamental | trend | market

Analysts have begun to make positive statements regarding China's latest announcement that it may consider an easing of the rigidness of their monetary policy. This could result in the Chinese yuan being allowed to appreciate normally and boost risk appetite and market optimism in regards to a speedier recovery. It appears traders are scanning the horizon for a silver lining and China is believed to have come to the rescue, finally. But has it?

Summary

USD - Will China's Latest Move Kick-Start a Global Recovery?

EUR - EUR in Recovery as Risk Appetite Gets Boost from China

JPY - Will New Japanese PM Respond to China with a De-Valuation?

OIL - Crude Prices in Appreciation on Boosted Demand and Weak USD

Forex | daily market trend | analysis | news | fundamental | technical | yuan | speculation | USD | decline | china | announcement | monetary policy | risk appetite | market | Japanese pm | crude prices | demand

After several weeks in which the Dollar appreciated repeatedly against the Euro, the Euro is showing its first signs of recovery. The rising risk appetite in the market is the main reason for the strengthening Euro, but will it continue?

Summary

USD - Dollar Weakens As Risk Appetite Soars

EUR - Euro Rallies as Stocks Continue To Rise

JPY - Yen Drops against the Majors; BOJ Leaves Rates At 0.10%

OIL - Crude Oil Rises Above $77 a Barrel

Forex | daily market trend | analysis | news | fundamental | technical | euro | dollar | risk appetite | signs of recovery | market | boj | rates | crude oil

The U.S. Dollar saw some major gains on the Euro last night. The pair went as low as 1.3500 before rebounding to its current level of about 1.3540. Today, Fed Chairman Ben Bernanke is scheduled to testify before the U.S. Congress, an event likely to create heavy market volatility throughout his testimony and in the minutes after.

Summary

USD - Significant U.S. News Could Lead to USD Volatility

EUR - Negative European News Leads to Losses for Euro

JPY - Risk Aversion Leads to Yen Gains

Crude Oil - Crude Oil Inventories on Tap Today

Forex | daily market trend | analysis | news | fundamental | technical | eur | Bernanke | testimony | gain | fed | chairman | ben Bernanke | us | congress | market | volatility

The U.S Dollar declined against major counterparts Monday as risk appetite returned on renewed confidence about an impending global economic recovery. The renewed optimism fueled demand for the EUR as well as currencies from commodities-rich countries such as the AUD and NZD.

Summary

USD - USD Declines on Rise in Optimism

EUR - EUR Rises as Demand for Riskier Currencies Grows

JPY - The Yen is higher against Major Counterparts

OIL - Crude Prices Decline on Prospects of Warmer Weather

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