Forex Killer App. Blog

The Federal Reserve will be able to lend more easily to failed banks under government control because of a provision in legislation that bailed out Fannie Mae and Freddie Mac. In the rescue signed into law by President George W. Bush yesterday, the Fed will no longer have to pay…
Source:TRY Strengthening Massively After The Supreme [...]

The Conference Board’s consumer confidence measure for July rose unexpectedly to 51.9 (consensus 50.1; prior 50.4). This surprise echoes the unexpected rally in confidence shown by the University of Michigan measure last Friday. While a welcome development, the 51.9 Conference Board reading still represents the fifth worst level since data…
Source:U.S. Consumer Confidence - Is a [...]

Yesterday sentiment in the European trading session was mainly on the negative side and stock markets were in the red most of the day. However as US consumer confidence data showed a slight improvement from last month stock markets in Europe and in the US rallied and the USD rose…
Source:The USD Jumped On US Consumer [...]

The dollar rose across the board Tuesday following a US equity rally and better-than-forecast US economic data. The yen fell as risk appetite increased and a Bank of Japan official warned about a Japanese recession. The commodity-related Australian and Canadian dollars continued their slump and fell to important technical supports….
Source:Greenback Testing Resistance

The big news late yesterday in the was an announcement by Merrill Lynch that it will need to raise another $8.5 billion to help boost its capital and will take another large writedown as it jettisons more of its risky, illiquid instruments (CDO’s) to a private equity fund.
Source:Mixed Data Out Of Japan Does Little To [...]

Orders for durable goods surprised on the upside, increasing 0.8%, a positive piece of news that shows US manufacturers doing better than expected. Orders excluding transportation were up 2%, the highest this year. Sales of new homes were down 0.6% this month, but only because the figures for the…
Source:Strong US Durable Goods Orders Gives [...]

With fears that the US recession is a near certainty for the second half of the year, today’s data has supports two of the economy’s most important and hardest hit sectors - the consumer and housing sectors. Little was expected from the University of Michigan’s sentiment report as it was…
Source:US Confidence And Housing Numbers Surprisingly [...]

Sales of new homes fell 0.6 percent in June to an annualized pace of 530K units. However, the previous three months were revised higher by a total of 50K units. Inventory dropped 23K units, the largest monthly decline since the data began in 1961. While we are not ready to…
Source:New Home Sales Fell but Inventory [...]

Cable’s correction from 2.0158 extended further to as low as 1.9816 last week but was supported by the inner rising channel support and recovered. Initial outlook is neutral this week with an intraday low already in place at 1.9816. On the upside, above 2.0030 resistance will indicate that such correction…
Source:GBP/USD Weekly Outlook

The week of July 28-August 1 will see a fairly significant amount of US macro data. The major releases will be clustered near the end of the week on Thursday and Friday. Thursday will see the publication of the preliminary GDP for Q2, jobless claims, Chicago PMI and the employment…
Source:Week Ahead In US Financial Markets [...]