FOMC: No change in policy; EUR/USD makes a false break

The Fed did not change policy but did add fresh warnings about inflation. This is different than the previous statement and initially weighed on the dollar. This is a very modest change. The $85/month bond buying program continues, and the rate remains at rock bottom....

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Greece: IMF wants euro-zone governments to take losses

The IMF sees a financing hole of 10.9 billion euros for Greece: €4.4 billion this year and €6.5 in the next one. And, the IMF wants euro-zone governments to take “substantial losses” on loans made to Greece, and not for the first time.  The news comes at a bad...

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1-2 punch of strong ADP & GDP numbers has put the USD on the offensive

Many pairs traded in fairly tight ranges overnight ahead of the deluge of important data today. One notable mover was the Japanese Yen which was stronger overnight. The JPY ground out small gains against the Euro and Greenback as well as some larger gains against the British...

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Asian stocks mostly higher following China PMI; Nikkei up 1.16%

Most Asian stocks traded higher Thursday despite divergent readings of China’s July PMI data.  In Asian trading Thursday, Japan’s Nikkei 225 rose 1.16%. On Wednesday, the Federal Reserve said it will continue its USD85 billion per month asset-buying program over the near-term.  "The...

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Forex Trading Signal for 1st August 2013

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U.S. stocks end mixed on Federal Reserve statement; Dow dips 0.14%

U.S. stocks closed mixed on Wednesday after the Federal Reserve said monetary stimulus programs would stay in place for now. The announcement sent stocks rising initially, as stimulus measures are often bullish for equities, though investors sold for profits later in the rally. At...

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Forex Trading Signal for 31st July 2013

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Forex - EUR/USD erases losses as market braces for Fed decision

The euro erased earlier losses and firmed against the dollar on Wednesday after investors looked past better-than-expected gross domestic product data released in the U.S. that bolstered the dollar in earlier trading. The pair held steady as investors waited for the Federal...

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Asian stocks mixed with Fed on deck; Nikkei down 0.76%

Asian stocks were mixed during Wednesday’s session as a busy week for central bank commentary gets rolling later Wednesday with a monetary policy announcement from the Federal Reserve. The Bank of England and European Central Bank chime in later in the week.  Japan’s...

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