FXstreet.com: Fundamental: Fundamental Market View

NYSE Short Circuit post Aberrant Regulation. How'd you like them Apples?

kenneth.polcari@gmail.com (KennyPolcari.com) — Fri, 24 May 2013 13:02:23 GMT

Aberrant : Latin - aberrant, aberrans, present participle of aberrare - to go astray, to wander, to err. Remember this word as we shall be seeing a lot of in the not so distant future. Now combine this word with TRADES.....are you beginning to see the picture? ABERRANT TRADES - Trades that took place but had "gone astray"....Trades that exist in cyberspace, yet trades that will not be part of the "public record" for the sake of daily hi/low, 52 week hi/lo, daily calculation of NAV for

Asia Flash: Singapore posts improved activity indicators

e.economicos@bbva.bancomer.com (BBVA Bancomer) — Fri, 24 May 2013 12:37:04 GMT

The Japanese stock market recovered somewhat today (+0.9%), after a 2-day roller-coaster ride that saw losses of -7.3% yesterday on worries of a possible QE exit by the Fed and a much weaker-than-expected outturn of China’s HSBC Flash PMI for May. The volatility in Japanese equity and bond markets underscores risks of the BoJ’s dramatic easing campaign and the importance that markets attach to the not-as-yet delivered structural reforms, which encompass the “third arrow” of Prime Minister

German Business Confidence Shows Improvement

Service@everbank.com (EverBank World Markets) — Fri, 24 May 2013 13:00:40 GMT

Good day. And a Happy Friday to one and all! I know and fully understand that I've only been back in the office for 2 days, but it sure seems like it's been a very long week! So. plenty of you were not happy that I came back from MD Anderson Cancer Clinic in Houston and didn't tell you what all the tests, scans, and doctors had to say. So, I'll get to that in the Big Finish today. The Big soccer game was held in St. Louis last night. What a game! That's the kind of soccer that would get

CE bond markets join global sell-off

piet.lammens@kbc.be (KBC Bank) — Fri, 24 May 2013 10:23:03 GMT

Headlines CE bond markets join global sell-off. The Polish market is facing the biggest, though domestic eco data disappoint. Global sell-off in core bond and equity markets hit also Central Europe. Regional bond markets, previously benefiting from heavy foreign portfolio inflows, suffered the largest losses. As outflows replaced inflows, prices of regional sovereign bonds began to drop while their yields jumped higher. The biggest rise in sovereign bond yields happened in Poland where the

Better IFO Helps EUR/USD But 1.30 Proves Elusive

contact@bkforexadvisors.com (BK Asset Management) — Fri, 24 May 2013 10:01:36 GMT

Greetings! Market Drivers May 24, 2013 IFO beats handily driving EUR/USD towards 1.3000 Nikkei seesaw putting USD/JPY on roller-coaster Nikkei 0.89% Europe 0.56% Oil $94/bbl Gold $1387/oz. Europe and Asia: NZD Balance 157M vs. 475M EUR German GDP -1.4% vs. -1.4% EUR German GfK Consumer Confidence Survey 6.5 vs. 6.2 EUR German IFO - Business Climate 105.7 vs. 104.5 EUR German IFO - Current Assessment 110.0 vs 107.2 EUR German IFO - Expectations 101.6 vs. 101.6 GBP BBA Loans for House Purchase

Next week data you don't want to miss

forex@fxstreet.com (FXstreet.com) — Fri, 24 May 2013 09:22:46 GMT

Facing the last week of the month is quite normal to see little fundamental headlines’ scheduled. Market will continue speculating on economic policy decisions, although remain cautious, with several Central Banks meetings during the first days of June. Profit taking due month ending, particularly if the greenback ends the week higher, will be another reason to be cautious next week. Investors will be paying attention particularly to the following readings: JPY and BOJ Minutes, May 26th

Hawkish FOMC comments force BoJ to react – Kuroda talks down USD/JPY

danskeresearch@danskebank.com (Danske Bank A/S) — Fri, 24 May 2013 09:18:23 GMT

After a solid recovery overnight following a significant decline yesterday, USD/JPY is once again heading south this morning on comments from Bank of Japan Governor Haruhiko Kuroda. In a speech in Tokyo, Kuroda said that the central bank has announced sufficient monetary easing and that he wants to stabilise bond trading with flexible Bank of Japan operations. Given the relatively strong pace of JPY depreciation we have witnessed so far, Bank of Japan might not want to see USD/JPY moving

Volatility continues as rally struggles on

enquiries@worldfirst.com (World First UK Ltd) — Fri, 24 May 2013 09:00:52 GMT

Asian markets spend another session in rollercoaster mode Eurozone data points to continued recession Yen and Swiss Franc the main gainers on fears German IFO key today The rollercoaster ride which has defined Asian, and in particular Japanese, markets has continued overnight, following a session that saw regional exchanges lose as much as 7% in value. This morning we have seen the Nikkei in Japan post a 2% rise, then a 3% fall and it has just closed 0.88% higher; who would be an equities

Yen intervention after Poor Chinese data

help@halofinancial.com (Halo Financial) — Fri, 24 May 2013 08:53:15 GMT

Today's Highlights Yen intervention after Poor Chinese data Improving US data ignored by USD traders FX Market Overview The US Dollar failed to make any gains on news that the housing market is picking up. New home sales rose to 454,000 in the year to April. That was well above the forecasts of 429,000 and boosted by the fact that the previous month was revised 24,000 higher as well. Neither did the fall in fresh jobless claims strengthen the US Dollar and nor did the news that ongoing jobless

FX Markets Stable

support@ac-markets.com (Swissquote Bank SA) — Fri, 24 May 2013 08:25:43 GMT

Market Brief FX markets remain nervous after yesterday's extensive FX and stock market volatility. Asset market price action over the past two days have principally echoed sudden changes in the possibility of Fed “tapering”. Only a clear direction on US data and any marked shift in Fed communication will help solidify the current direction as the timing of lowering asset purchasing will largely be contingent on these two key factors. Asian markets are calm after yesterday’s massive global

Daily Forex Fundamental Overview

info@dukascopy.com (Dukascopy Bank SA) — Fri, 24 May 2013 07:55:02 GMT

Fundamental Analysis EUR “We see the euro zone being out of recession in the third quarter” -Christian Schulz, senior European economist at Berenberg Bank The downturn across the 17-nation economy eased slightly this month, however a dearth of new orders is raising concerns that the economy is likely to contract again. According to London-based Markit Economics, a composite index in both industries jumped to 47.7 from 46.9 in the previous month, exceeding analysts’ expectations of a 47.2

Calm returns to US markets as traders look to buy the dip

mediarelations@alpari.co.uk (Alpari (UK)) — Fri, 24 May 2013 07:22:24 GMT

Good morning, Today’s UK opening call provides an update on: Nikkei stocks trade higher early in Asian session as dust settles on the events of the last 24 hours; Calm returns to US markets as traders look to buy the dip; German data in focus this morning, ahead of Weidmann speech later; US durable goods orders watched closely later. A sense of calm returned to the markets over night, as the Nikkei pared some of its huge losses from the night before, and US indices ended the session only

The EURUSD Daily

coachingfxpros@gmail.com (Coaching FX Traders) — Fri, 24 May 2013 07:19:55 GMT

EURUSD SO FAR TODAY: A capped overnight session with a 35 pips range supported around 1.2905 and with no attempts to take out yesterday’s high by 1.2955. German GfK Consumer Confidence a bit better than expected while the revised German 1st quarter GDP data showed the same 0.1% quarterly growth as seen in the first release last week might have supported the pair with 20 pips this morning. focus is on the later German IFO Survey conducted among German businesses. EURUSD EVENT RISK TO PAY

The big debate is over the US

MGittler@IronFX.com (IronFX (Australia) Pty Ltd) — Fri, 24 May 2013 07:14:20 GMT

The Big Picture Bernanke: “I don’t want to make someone else’s mistakes” Risk aversion – the “on-off” trade – remains the key theme. However now “risk on” means “buy USD,” and the switch between risk seeking on good US news and risk aversion on news coming out of Japan is whipsawing the market around. The DXY index has made three new 2013 highs over the past five days, but has not been able to sustain the gains. Central banks continue to dominate the market. Early this morning for example we

The Dollar Index declined for the first time in three days

info@varengold.de (Varengold Wertpapierhandelsbank AG) — Fri, 24 May 2013 06:21:53 GMT

Good morning from Hamburg and welcome to our last Daily FX Report in this week. The pound climbed from a 10-week low versus the dollar amid speculation its 3 percent fall this month was excessive and as a government report confirmed the U.K. economy returned to growth in the first quarter. Market Review – Fundamental Perspective Sales of new U.S. homes climbed in April to the second-highest level in almost five years as lower borrowing costs and job gains drew more buyers into the market.

EUR bounced from 1.2822 to 1.2957

natalie_denne@westpac.co.nz (Westpac Institutional Bank) — Fri, 24 May 2013 05:06:44 GMT

Market wrap Global market sentiment: Markets stabilised in NY following the previous day’s Bernanke-inspired rout. Asian and European equities earlier recorded sharp losses (Nikkei -7.3%, Eurostoxx 50 -2.1%), but the S&P500 is currently only 0.1% lower. That appears odd given the US data (jobless claims, home sales, PMI) beat consensus and would add to the QE-withdrawal argument. Perhaps markets are absorbing the Fed’s message that an exit won’t necessarily be a clear and steady path (as

Forex Daily Outlook May 24 2013

yohay@forexcrunch.com (Forex Crunch) — Thu, 23 May 2013 22:28:28 GMT

New Home Sales in the US and Second Estimate GDP in the UK are the major market-movers. Let see what awaits us today. In the US, Unemployment Claims, value the unemployed that filed for insurance for the first, 347K is due from 360K on the past week. Later in the US, New Home Sales, value the yearly new single-family homes that were sold on the last month, 429K is likely from 417K on the last time. More in the US, James Bullard, Federal Reserve Bank of St. Louis President is due to

Morning Report - Volatility reigns, Aussie snaps back

info@lighthousesecurities.com.au (GlobalFX) — Thu, 23 May 2013 22:29:49 GMT

It has been a wild last 24 hours with the Nikkei down 7%,USD/JPY trading through an almost 300 point range and the Aussie dollar breaching not only 97 cents but also briefly 96 cents yesterday. In my experience over the last 25 years I'd note that volatility begets volatility so we could have a very interesting weekly close and equally with the setup in the S&P 500 and the Aussie we might actually see some reversals of recent moves. The job of markets and price discovery and price

Upcoming fundamental releases you don't want to miss

forex@fxstreet.com (FXstreet.com) — Thu, 23 May 2013 20:47:30 GMT

EUR and German Gross Domestic Product Previous 0.1% - Expected 0.1% Final reading Above Expected: EUR Bullish Below Expected: EUR Bearish Key pairs to watch: EUR/USD , EUR/JPY German final revision of GDP may bring not surprises and therefore hardly affect the market. It Is usually the preliminary number that shows the economic situation of a certain country, and the one that moves the most the currency related. However, worth’s to keep in mind Germany data has been far from

EMU recovery: Slow but on track

communication@unicreditgroup.eu (UniCredit Group) — Thu, 23 May 2013 15:16:14 GMT

Dear reader, the EMU Composite PMI posted its second consecutive rise in May. Although the pace of improvement remains slow and 2Q will likely still show marginally shrinking GDP – as reflected in our recently revised growth forecasts – the better-than-expected PMI release confirmed our expectations of improving growth momentum and an unfolding recovery starting in the second half of this year. In the US, Fed Chairman Bernanke testified, and while his prepared statement was as dovish (if not

Is the USD/JPY Rally Over?

contact@bkforexadvisors.com (BK Asset Management) — Thu, 23 May 2013 13:42:34 GMT

The biggest move in the FX markets today is in the Japanese Yen. The 7% decline in the Nikkei overnight kicked off a wave of deleveraging in the financial markets as investors around the world hit the panic button. What is interesting about the move is that no one is buying U.S. dollars, a currency that generally performs well during risk aversion. The reason is because to de-lever means to reduce positioning and over the past month, investors had been gradually increasing their exposure to

In/Out In/Out. Forget Puts, this was 'The BernanQE (Hokey) Poke'

kenneth.polcari@gmail.com (KennyPolcari.com) — Thu, 23 May 2013 12:55:30 GMT

"What goes up, must come down.... spinning wheels got to go 'round.... Talkin' bout your troubles it's a cryin' sin... Ride a painted pony, Let the Spinnin' Wheel spin...." -Blood Sweat & Tears....1969 This morning we wake up to a bit of "Blood Sweat & Tears"......Markets around the world are under pressure. Asia gets clocked, as it was the first global market to respond to the FED speech, following the confusion yesterday over what Benny really said..... Japan down 7.32%, China - 1.3%,

The Big news overnight came from China

Service@everbank.com (EverBank World Markets) — Thu, 23 May 2013 12:27:40 GMT

Good day. And a Tub Thumpin' Thursday to you! What the heck was I thinking, was running through my mind when the alarm went off this morning. In an attempt to relieve Chris from having to write the Pfennig this morning, I told him not to worry about it, I would write it.. All the time knowing that my flight from Houston wasn't getting in until very, very late.. And that was before all the cancellations! What the heck is going on with the aviation sector? It's a very long story, so I won't bore

King's parting words fall on deaf ears

enquiries@worldfirst.com (World First UK Ltd) — Thu, 23 May 2013 12:20:38 GMT

Data from the Eurozone and the US last week put UK releases in the shade, as the market attempted to grapple with the underlying cause of the rise in the dollar, which has gained nearly four cents against sterling in the last couple of weeks. Whilst UK employment and earnings data was generally positive and the Bank of England inflation report revised the Committee’s economic expectations upwards, there just wasn’t enough sterling-centric news out there loud enough to distract anyone from the

EUR/USD: Trading the German Ifo Business Climate Index

yohay@forexcrunch.com (Forex Crunch) — Thu, 23 May 2013 11:30:09 GMT

The German Ifo Business Climate is a monthly composite index of about 7,000 businesses, which are surveyed about current business conditions and their expectations concerning economic performance over the next six months. Indicator Background The German Ifo Business Climate, a leading economic indicator, is an excellent barometer of the expectations of businesses for the next 6 months. An unexpected reading can have a major impact on the movement of EUR/USD. The index has been on a downward

Dollar Dives as Correction Sets In

contact@bkforexadvisors.com (BK Asset Management) — Thu, 23 May 2013 09:46:47 GMT

Greetings! Market Drivers May 23, 2013 Nikkei plunges by 7% taking USD/JPY to 101.00 EZ PMi data stabilizes Nikkei -7.26% Europe -2.56% Oil $92.80/bbl Gold $1377/oz. Europe and Asia: AUD Consumer Inflation Expectations 2.3% vs. 2.2% JPY Japan Buying Foreign Bonds -804 vs. 185 JPY BOJ Monthly Economic Report for May EUR German PMI Manufacturing 49 vs. 48.5 EUR German PMI Services 49.8 vs. 50 EUR Euro-Zone PMI Manufacturing 47.8 vs. 47 EUR Euro-Zone PMI Services 47.5 vs 47.2 GBP GDP 0.3% vs. 0.3%

High wage growth supports forint

piet.lammens@kbc.be (KBC Bank) — Thu, 23 May 2013 09:26:59 GMT

Headlines Zielinska-Glebocka sees further rate cuts in Poland High wage growth supports forint Even though the forint and the zloty got several impulses their exchange rate barely changed against the euro yesterday. Early in the morning, the forint hit its nearly half-year high following the publication of average gross wages in March. Later in the session, however, the forint drifted lower and closed at EUR/HUF 290. Meanwhile, the Polish zloty shrugged off comments of Anna Zielinska-Glebocka

Bernanke delivers a jolt

MGittler@IronFX.com (IronFX (Australia) Pty Ltd) — Thu, 23 May 2013 09:20:11 GMT

The Big Picture Bernanke delivers a jolt: A quiet day in Europe but a lot of volatility once Fed Chairman Bernanke started to speak. His formal speech was dovish, as one would expect from him, and the dollar began to weaken, but there was interest in buying dollars and the decline was short-lived. Then during the Q&A session he suggested that the Fed could indeed taper off QE in the next several months if the data allowed, and things went wild. Ten-year Treasury yields soared (up 10 bps on

Pound slips on BOE comments

help@halofinancial.com (Halo Financial) — Thu, 23 May 2013 08:54:32 GMT

Today's Highlights Pound slips on BOE comments Dollar boosted by Bernanke speech FX Market Overview The grotesqueness of the actions of those two Neanderthals who butchered an off duty soldier yesterday is only matched by the obscenity of their pathetic delusional attempts to claim some kind of political morality for their barbarism. There is no excuse and can be no excuse for their actions. Thankfully, their depravity will do nothing but add to the resolve of the Great British public. It is a

Daily Forex Fundamental Overview

info@dukascopy.com (Dukascopy Bank SA) — Thu, 23 May 2013 08:14:40 GMT

Fundamental Analysis EUR “The first-quarter contraction reinforces pressure on the ECB to come up with further measures to try and support Eurozone growth” -Howard Archer, an economist at IHS Global Insight The 17-nation economy’s current account surplus surged to the all-time high in March, due in part to the increase in exports, the European Central Bank data showed Wednesday. A broad measure of an economy’s international transactions rocketed to 25.9 billion euros in March, up from a

Bernanke comments prolong USD strength

enquiries@worldfirst.com (World First UK Ltd) — Thu, 23 May 2013 08:06:29 GMT

Bernanke signals that asset purchases could slow UK retail sales disappoint due to weather China PMI rattles Asian markets The US dollar continued its recent run of strength yesterday after testimony by Ben Bernanke confirmed the FOMC will look to reduce the rate of asset purchases in the US economy should a continued improvement be seen Ben Bernanke said the FOMC could slow the $85bn a month pace of asset purchases “in the next few meetings” if the labour market is strong. Repeated good data

Heavy Sell-Off on Asian Equities

support@ac-markets.com (Swissquote Bank SA) — Thu, 23 May 2013 07:58:31 GMT

Market Brief The Asian markets were squeezed by heavy sell-off on the equity markets. Nikkei 225 closed 7.32% down after having rallied to 5 ½ year high; Hang Seng slid 2.35% as HSBC flash manufacturing PMI index retreated to 49.6 – its 7-month low - indicating that Chinese manufacturing contracted in May. Taiex and Kospi index fell 1.92% and 1.24%, while the Australian ASX 200 index lost 2% as the inflation expectations rose to 2.3% (from 2.2% bottom on RBA band). USDJPY and JPY crosses were

USD: Currency Index & Volatility

info@dukascopy.com (Dukascopy Bank SA) — Thu, 23 May 2013 07:29:48 GMT

Relative Currency Strength Over the past five days the U.S. Dollar has been behaving hectically, failing to adhere to one particular trend, being subject to contrary influences. Most of the external news, such as on Eurozone GDP, on RBNZ’s willingness to weaken the nation currency and on decelerating inflation in the United Kingdom, have benefitted the buck greatly, as demonstrated by morning rallies of the Dollar’s currency index on May 15, 16 and 21, respectively. Conversely, internal data

Eurozone manufacturing and services PMIs in focus on Thursday

mediarelations@alpari.co.uk (Alpari (UK)) — Thu, 23 May 2013 06:45:22 GMT

Good morning, Today's UK opening call will provide an update on: Chinese manufacturing falls back into contraction territory for the first time since September Eurozone manufacturing and services PMIs in focus on Thursday UK first quarter GDP figure potentially facing downward revision Strong US data could mark an end to the rally in the stock markets European stock indices are expected to open more than 1% lower this morning, after data showed China's manufacturing sector fell into contraction

Treasuries and gold turned lower and equities retreated

info@varengold.de (Varengold Wertpapierhandelsbank AG) — Thu, 23 May 2013 06:46:31 GMT

Good morning from Hamburg and welcome to our second-last Daily FX Report in this week. USD climbs as Bernanke says Fed may taper buys. The USD rose against most major peers after Fed chairman Bernanke said the central bank may taper monthly bond purchases at its next few meetings if it’s confident of sustained gains in the economy. Market Review – Fundamental Perspective “A premature tightening of monetary policy could lead interest rates to rise temporarily but would also carry a substantial

US existing home sales grew 0.6%

natalie_denne@westpac.co.nz (Westpac Institutional Bank) — Thu, 23 May 2013 05:14:34 GMT

Market wrap Global market sentiment: Sentiment was damaged by the Fed Chairman’s speech. The eagerly awaited testimony from Bernanke was quite dovish, warning against premature tightening, initially encouraging a spike in equities and other risky assets. However during Q&A later he said the Fed “could reduce purchases in the next few meetings if the data supports it”. Despite the qualification, markets (which are positioned for continuing dovish policy) were spooked. The S&P500

Fed Talk.....Reversal.....

info@advicetrade.com (SwingTradeOnline.com) — Thu, 23 May 2013 05:03:44 GMT

So today we had Mr. Bernnake speaking in front of Congress and they were asking the usual ridiculous questions about quantitative easing and how long he intended to keep it going, etc. Would he stop soon? What were the parameters he was using to decide when to stop, and so on. He gave perfect answers. He said if things stay bad he'll continue to flood with cash. If things get really good he'll slow down. Send in the marching bands. Wow! Really? The market eventually sold off. Folks on

Fed''s mixed messages send greenback higher

info@ozforex.com.au (Oz Forex Foreign Exchange) — Thu, 23 May 2013 00:30:18 GMT

Australian Dollar: A measure of Australian consumer confidence fell sharply in May figures yesterday revealed. Despite interest rates being cut to their lowest ever level earlier this month the survey showed households had reacted negatively to the government’s most recent budget announcement. Having started the day up above the 98 US Cents handle the Australian dollar fell and fell hard following comments made by US Federal Reserve Chairman Ben Bernanke during his Q&A session overnight.

Forex Daily Outlook May 23 2013

yohay@forexcrunch.com (Forex Crunch) — Wed, 22 May 2013 22:19:12 GMT

CPI in the UK and Monetary Policy Meeting Minutes in Australia are the main events today. Here is an outlook on the market-movers awaiting us. In the US, Federal Open Market Committee (FOMC) Meeting Minutes, FOMC’s recent meeting, providing insights on the financial conditions that influenced the interest rates. Later in the US, Ben Bernanke, Federal Reserve Chairman is due to testify in Washington DC. More in the US, Existing Home Sales, value the yearly residential buildings that were

Upcoming fundamental releases you don't want to miss

forex@fxstreet.com (FXstreet.com) — Wed, 22 May 2013 21:18:17 GMT

AUD and Chinese PMI Previous 50.5 - Expected 50.4 Above Expected: AUD Bullish Below Expected: AUD Bearish Key pairs to watch: AUD/USD , AUD/JPY While Chinese data tends to affect all the market, Aussie feels it the most due to the strong commercial relationship in between both economies. And besides the data market sentiment needs to be weighted today, as there’s a general risk aversion sentiment post FOMC that will likely extend to current Asian session. Overall, Chinese data has