FOREX MARKET NEWS
Source: The wall Street Journal*
*Dow Jones stock indexes are updated in real-time. Source: Dow Jones & Co.
FOREX MARKET UPDATE
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Economic News
BoJ Yamaguchi: Japan Must Pursue Fiscal Structural Reforms
Bank of Japan Deputy Governor Hirohide Yamaguchi said on Thursday that the country must take up fiscal structural reforms before market confidence is lost. (Feb 2, 2012) Full Article
Ireland Cuts 2012 Growth Outlook
Ireland's central bank downgraded its growth outlook for this year, citing weak external demand. (Feb 2, 2012) Full Article
French Borrowing Costs Decline
France witnessed a decline in borrowing costs at an auction of its longer term bonds on Thursday. The Agence France Tresor raised a total EUR 7.692 billion from the sale of bonds, known as OATs, against the target range of EUR 6.5 billion – EUR 8 billion. (Feb 2, 2012) Full Article
U.S. Labor Productivity Up 0.7% In Fourth Quarter
U.S. labor productivity increased by slightly less than expected in the fourth quarter of 2011, with output gains outpacing an increase in hours worked. According to statistics released Thursday by the Labor Department, fourth quarter worker productivity increased by 0.7 percent. (Feb 2, 2012) Full Article
U.S. Initial Unemployment Claims Fall To 367,000, Lower Than Expected
New unemployment claims in the U.S. fell to a lower level than most experts had expected according to figures released Thursday by the Labor Department. For the week ending January 28, the DOL reported a seasonally adjusted level of 367,000 initial claims for unemployment. (Feb 2, 2012) Full Article
Forex Top Story
Australia December Trade Surplus A$1.709 Bln
Australia posted a seasonally adjusted merchandise trade surplus of A$1.709 billion in December, the Australian Bureau of Statistics said on Thursday. (Feb 2, 2012) Full Article
Japan Steps Up Yen Warning; Azumi Says Can't Overlook Speculative Moves
Japan's
Finance Minister Jun Azumi on Thursday stepped up his warning against
excessive yen gains and said the government is ready to take decisive
steps to weaken the currency. (Feb 2, 2012) Full Article
Eurozone Producer Price Inflation Slows As Expected
Eurozone producer price inflation eased as expected in December, lifting the scope for an interest rate cut from the European Central Bank, the latest figures from Eurostat showed Thursday. (Feb 2, 2012) Full Article
Spain Bond Sale Exceeds Target, Yields Fall
Spain successfully sold more debt than planned at an auction on Thursday that saw declining borrowing costs. (Feb 2, 2012) Full Article
Commodities
The price of gold was steady near its two-month high Thursday morning as the U.S. dollar remained weak versus a basket of currencies. (Feb 2, 2012) Full Article
Crude Slips Below $97 On Demand Concerns
The price of crude oil was lingering around its six-week low Thursday morning amid demand concerns after U.S. crude oil stockpiles increased more-than-expected. (Feb 2, 2012) Full Article
Political News
UN Diplomats: Progress Made In Talks On Syria Resolution
U.N. diplomats on Wednesday indicated that substantial progress had been made in negotiations aimed at getting the U.N. Security Council (UNSC) approved a resolution endorsing an Arab League plan for ending the ongoing violence in Syria. (Feb 2, 2012) Full Article
IAEA Sets New Date For 'Intensified' Nuke Talks With Iran
The International Atomic Energy Agency (IAEA) has said that it will hold another round of talks on Iran's disputed nuclear program in Tehran on February 21-22. (Feb 2, 2012) Full Article
Pakistan Supreme Court To Charge PM With Contempt
Pakistan's Supreme Court decided on Thursday to indict Prime Minister Yousuf Raza Gilani over contempt of court for his continued refusal to re-open corruption cases against President Asif Ali Zardari despite a standing court order. (Feb 2, 2012) Full Article
UN Chief Urges Israelis, Palestinians To Build Trust
U.N. Secretary-General Ban Ki-moon has called on Israelis and Palestinians to take steps that will build trust and ensure an environment conducive to sustained negotiations, voicing his hope that the nascent talks begun last month between the two sides will continue. (Feb 2, 2012) Full Article
European Parliament Calls For Redemption Fund, Financial Transaction Tax
The European Parliament has called for the rapid establishment of a redemption fund based on the proposal by the economic advisers to the German government to help the bloc's economic recovery. (Feb 2, 2012) Full Article
Analyst Currency Comments
Upbeat Australian Trade Data Pushes Up AUD/USD To Fresh 5-month High – Westpac
Westpac analysts said on Thursday that a better-than-expected trade data from Australia pushed up the Australian dollar to a fresh 5-month high against the U.S. dollar in Asian trading. Analysts also noted that an upbeat trade data helped traders shrug off the lower than expected Australia’s December building approvals figure. (Feb 2, 2012) Full Article
Currency Alerts
Australian Dollar Climbs After Trade Data
In early Asian deals on Thursday, the Australian dollar advanced against its major counterparts after a report showed that the nation posted better-than-expected trade balance for December. (Feb 2, 2012) Full Article
Euro Weakens Against Majors; Eurozone PPI Eyed
The euro edged lower against its major rivals in early European deals on Thursday (Feb 2, 2012) Full Article
Dollar Gains On Euro, Stable Versus Other Majors Ahead Of Jobless Claims
The dollar strengthened versus the euro Thursday morning in New York, ahead of another key prelude to tomorrow's all-important monthly jobs report. (Feb 2, 2012) Full Article
General News
Scores Killed In Egypt Football Violence
At least 74 people have been killed and more than 250 injured in violent clashes between rival football fans in the Egyptian city of Port Said, officials said late on Wednesday. (Feb 2, 2012) Full Article
Second Bird-flu Death Reported In Vietnam
A young woman has died in Vietnam's Mekong Delta of bird flu, the second human death reported in the country within two weeks due to the killer disease. (Feb 2, 2012) Full Article
Rival Militias Clash In Libyan Capital
Libyan capital Tripoli witnessed heavy fighting between rival militia groups briefly on Wednesday, signaling the continued failure of the new Libyan rulers to enforce their authority in the country after the ouster of Col. Moammar Qadhafi's regime in an armed revolt last year. (Feb 2, 2012) Full Article
Three Top Terror Leaders Killed In Philippines
The Philippines military on Thursday announced the killings of three top leaders of the al-Qaeda-linked terrorist groups Abu Sayyaf and Jemaah Islamiyah in a military operation carried out in the country's south. (Feb 2, 2012) Full Article
Officials: More Than 200 Rescued After PNG Ferry Mishap
More than 200 people have been rescued from the ocean after a ferry carrying about 350 passengers sank off Papua New Guinea's north-eastern coast in rough weather early on Thursday, officials said. (Feb 2, 2012) Full Article
U.S. Government Required Disclaimer - Commodity Futures Trading Commission
Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
All trades, patterns, charts, systems, etc., discussed in this advertisement and the product materials are for illustrative purposes only and not to be construed as specific advisory recommendations. All ideas and material presented are entirely those of the author and do not necessarily reflect those of the publisher CONTRATOS FOREX INFO or FGC FOREX. No system or methodology has ever been developed that can guarantee profits or ensure freedom from losses. No representation or implication is being made that using the methodologies or systems in this website will generate profits or ensure freedom from losses. The testimonials and examples used herein are exceptional results, which do not apply to the average member, and are not intended to represent or guarantee that anyone will achieve the same or similar results. Each individual's success depends on his or her background, dedication, desire, and motivation.