Yesterday the market starts with eerie risk aversion momentum building because of the fear of the Spain’s banking trouble that are continuously suppressing the Forex trading market. We have noticed a lack of unity in the Euro zone member nation’s community as the German members are unhappy due to the joint EUR bond issue since it cause the nation to lead by using wrong policies. The euro zone financial calendar specifies about the increment of industrial orders to 5.2 percent along with ECB announcement of one week fixed term deposits.
FOMC minutes in US specifies about the favor coming from the three regional banks for the first rate hike to 1 percent as it helps to regain the past discount structure of interest rate. Although these are the concerns related to the economic recovery leads to the fear in the market but we know that there is a ray of hope in every dark night as this proves true by the consumer index as it gets the market into a surprise by reaching to the 63.3 level beyond the expectations of market.
US market equities after getting this news erased all its losses and closes at 0.4 percent at the late forex session. S&P also get a rise of 0.3 percent in this whole month. Where as the currency pair of USD/JPY also shown a high yesterday by reaching to 90 level. In UK there was a quarterly report release takes place yesterday which results shows a growth rate after the meeting. It also mentions about the cut in Government spending along with the public sector wages where as private consumption seems to be flat in the next quarter.
US labor market are seems to be in worry after the last week’s report of the US jobless claims that unexpectedly leads the sharp rise in the market. This news may rise a double dip recession if the US labor market seems to be stalled. The European country debt crisis was an obstacle for the US economic recovery and embeds the more concerns about the global economic recovery to the labor market in US. In the past US have made 500k jobs since market signifies that it may reflect the employment report improvement of BLS. Although we have noticed that the jobless claims had fallen sharply below the expectations eventually but the claim report still in the level above and would confirm that the US is still making more number of jobs than losing.
The Korean currency falls leads the Asian market fall yesterday. the trading in US dollars will remain instable from the morning session and the euro is also seen in the downtrend. The USD/JPY leads to Sterling currency under pressure after the drop down in yesterday market. Instead of all these things the EUR/GBP and GBP/JPY was seems to be a big mover of the day and reaches to the high level after crossing the four yen. These all happenings of Yesterday leads the market to the V variety across the board.
copied from http://forexmoneymaker.blog.com/
FOMC minutes in US specifies about the favor coming from the three regional banks for the first rate hike to 1 percent as it helps to regain the past discount structure of interest rate. Although these are the concerns related to the economic recovery leads to the fear in the market but we know that there is a ray of hope in every dark night as this proves true by the consumer index as it gets the market into a surprise by reaching to the 63.3 level beyond the expectations of market.
US market equities after getting this news erased all its losses and closes at 0.4 percent at the late forex session. S&P also get a rise of 0.3 percent in this whole month. Where as the currency pair of USD/JPY also shown a high yesterday by reaching to 90 level. In UK there was a quarterly report release takes place yesterday which results shows a growth rate after the meeting. It also mentions about the cut in Government spending along with the public sector wages where as private consumption seems to be flat in the next quarter.
US labor market are seems to be in worry after the last week’s report of the US jobless claims that unexpectedly leads the sharp rise in the market. This news may rise a double dip recession if the US labor market seems to be stalled. The European country debt crisis was an obstacle for the US economic recovery and embeds the more concerns about the global economic recovery to the labor market in US. In the past US have made 500k jobs since market signifies that it may reflect the employment report improvement of BLS. Although we have noticed that the jobless claims had fallen sharply below the expectations eventually but the claim report still in the level above and would confirm that the US is still making more number of jobs than losing.
The Korean currency falls leads the Asian market fall yesterday. the trading in US dollars will remain instable from the morning session and the euro is also seen in the downtrend. The USD/JPY leads to Sterling currency under pressure after the drop down in yesterday market. Instead of all these things the EUR/GBP and GBP/JPY was seems to be a big mover of the day and reaches to the high level after crossing the four yen. These all happenings of Yesterday leads the market to the V variety across the board.
copied from http://forexmoneymaker.blog.com/
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