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Forex Market Review – Euro rises to $1.32; GBPUSD at 2 ½-mth high

Posted on February 1, 2012 by Trading Point Investment Research Desk at 2:12 pm GMT



EURUSD was lifted by an improved market sentiment supported by slightly better-than-expected euro-zone manufacturing activity in January as well as a successful Portuguese debt auction. Meanwhile market talk continues to swirl around a Greek debt deal soon, which helped support the euro. EURUSD retraced Tuesday’s losses to rise to 1.3034 in the European session from 1.3201.

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Forex News – UK construction sector expanded at slower rate in January

Posted on February 2, 2012 by Trading Point Investment Research Desk at 10:29 am GMT

UK construction PMI data released today show that the construction sector is still in the expansion phase and construction companies are still optimistic about the outlook of the industry.

A report produced by Markit/CIPS shows the construction PMI index gave a reading of 51.4 lower than a forecast of 52.6.

Despite January’s number being lower than previous month’s 53.2 a figure above 50 indicates expansion.

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Forex News – Euro jumps after reports of possible China involvement in ESM

Posted on February 2, 2012 by Trading Point Investment Research Desk at 11:40 am GMT



The euro spiked against the dollar around 10:30 GMT on Thursday in reaction to comments by the Chinese Premier Wen Jiabao who said in a press conference that China is considering greater involvement in Europe’s rescue fund, known as the European Stability Mechanism (ESM).

Premier Wen met with German Chancellor Angela Merkel in Beijing today to discuss the European debt crisis. Wen said it’s important to resolve the euro debt crisis and Beijing will support Europe’s efforts in stabilising the euro.

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Forex News – Euro falls after US job cuts data

Posted on February 2, 2012 by Trading Point Investment Research Desk at 1:01 pm GMT



Euro tumbled against the dollar after data on US job cuts showed a greater number of layoffs by companies in the United States in January, reaching the highest level in four months.

According to a report from consultants Challenger, Gray & Christmas, Inc. , the change in the number of job cuts announced by employers rose 28 percent from December to January as employers announced 53,486 planned job cuts last month. This was on a monthly basis.

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Forex Market Review – Euro on down side ahead of Non-farm payrolls

Posted on February 3, 2012 by Trading Point Investment Research Desk at 7:19 am GMT



EURUSD drifted lower as markets were thin in Asian trading ahead of the weekend and US nonfarm payrolls data later today. The euro gave up most gains made in the US session after US Federal Reserve Chairman Ben Bernanke gave a bullish testimony on the US economy, pushing euro up to 1.3186 against the USD. The pair then drifted lower in Asia to reach 1.3113 after sentiment was dampened following a report showing expansion in China’s non-manufacturing industries slowed.

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Forex News – Sterling rises after Services PMI

Posted on February 3, 2012 by Trading Point Investment Research Desk at 10:11 am GMT



Sterling jumps against the dollar after an unexpected rise in the UK Services Purchasing Manager’s Index (PMI) in January, to the highest level since March 2011. This data adds to the positive manufacturing PMI data from Wednesday. An improvement in both the manufacturing and services sector signals that the UK economy could avoid a recession.

GBPUSD spiked to 1.5857 from 1.5824within minutes of the data around 09:30 GMT.

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Forex News – Euro falls as Greek debt agreement deadline looms

Posted on February 6, 2012 by Trading Point Investment Research Desk at 9:36 am GMT



The euro is weakening against most counterparts in the European trading session on Monday Greek debt talks are dominating market sentiment.

Negotiations between Greek policy makers and international creditors continue today after Sunday’s marathon meeting that failed to meet common ground so far on the terms of a second bailout that Greece needs to avoid default.

Time running out for Greek debt deal as the deadline looms. By 10:00 GMT, the European Union must be notified whether the Greek government will accept the tough terms of the second bailout worth 130 billion euro. A scheduled Eurogroup meeting with euro zone ministers today was postponed due to the delay in Athens.

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Forex News – German manufacturing orders increase

Posted on February 6, 2012 by Trading Point Investment Research Desk at 12:03 pm GMT


Germany’s manufacturing orders rose by more than expected in December, driven by an increase in exports to countries outside the euro zone. This shows signs that Europe’s largest economy is stable during the euro zone debt crisis and could avoid a deep recession.

The industrial order index is a leading indicator of production since rising purchase orders signal that manufacturers will increase activity as they work to fill the orders.

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