RSSRSS
BOOKMARK US
<a href="http://instaforex.com/instaforex_tv.php?x=LZJ">InstaForex</a>
The Smarter way to trade - Copy what the best traders do

MTCopy provides a simple and smart way to invest and trade in markets.

MTCOPY
Daily Fundamental Analysis Reports

The UK, QE and the Pound

Forex.com | Feb 22 12 17:15 GMT

The Bank of England minutes from the February meeting were released on Wednesday and surprised the market because two members of the Committee (noted dove Adam Posen and David Miles) had voted to extend asset purchases by GBP75bn, more than the GBP50bn that the consensus wanted. This caused an immediate knee-jerk reaction in the pound, which dropped from 1.58 to below 1.57 vs. the US dollar, while EURGBP punched through resistance at 0.84 and is now testing 0.8450. The move may have been caused by the market thinking that the MPC is in dovish mode, but is this view justified?

Read more

U.S. January Existing Home Sales Rise to Highest Level Since May 2010

RBC Financial Group | Feb 22 12 16:42 GMT

Existing home sales in the US rose 4.3% in January 2012 to 4.57 million annualized units from the downwardly revised 4.38 million seen in December 2011 (initially reported as 4.61 million). Today's increase was larger than the 1.0% increase expected by markets; however, the downward revision to the previous month put the pace of sales lower than the expected 4.66 million units. The overall increase was due to a faster pace of sales of both single-family homes (up 3.8% in the month), and condos and co-ops (8.3%). As well, gains were seen in all regions of the country and were led by an 8.8% increase in the West, while the South (3.5%), Northeast (3.4%), and Midwest (1.0%) saw modest increases.

Read more

Can it be? Commodity Dollars and JPY Weak on the Same Day?

Saxo Bank | Feb 22 12 15:35 GMT

Today we have the odd spectacle of the weak commodity currencies and a weak Japanese yen - a spectacle that is unlikely to continue in the near term. Which currencies to win the race to the bottom? The market's satisfaction with the Greek bailout deal remained in evidence as the Euro's resilience continued today, with the single currency only falling a bit versus the dollar and a bit more against the G-10's strongest currency on the day, the Norwegian krone, which has long been woefully mispriced relative to other commodity currencies and is not behaving like one. Note that EURNOK has dropped below 7.50 again today and hasn't closed below that level on a weekly basis since 2003.

Read more

GBP/USD & Other GBP Crosses Pressured by BOE Minutes

FXTimes | Feb 22 12 15:30 GMT

One of the weakest performers today was the GBP as Bank of England Meeting Minutes revealed that two members voted for a larger expansion of the bond purchase program than the £50 billion the bank agreed to in early February. This certainly went against the sentiment the market had for the GBP after last week's Bank of England's quarterly inflation report which showed the bank forecasting a higher rate for inflation in two years time than expected. At the time the GBP got a boost as market participants got the sense that the BOE may be hesitant to undertake more QE in the future.

Read more

USD Gains amid Global Growth Concerns

Forex.com | Feb 22 12 15:27 GMT

USD is higher against most of the majors with the exception of the NOK as sentiment declines after contractionary PMI readings in China and Europe. China's unofficial flash manufacturing PMI improved to 49.7 from the prior 48.8 but signaled continued contraction in the manufacturing sector. Asian stock markets closed slightly higher and European bourses are currently in the red along with U.S. equity futures. The UST yield curve is flatter as 2-yr yields are slightly higher while 10-yr Treasury yields are lower by about 1.4bps to 2.045%. The Dollar Index is trading back inside of its daily cloud and has found resistance so far today around the Tenkan line which is currently around the 79.35 level. January existing home sales are due out at 1000ET and are expected to rise 1.1% from the prior month to 4.66M.

Read more
More Daily Fundamental Analysis Reports
Older 20 Reports