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ForexPros Daily Analysis May 6, 2010


Fundamental Analysis: Nonfarm Payrolls

Traders of the US anticipate the publication of the Nonfarm Payrolls. The Payrolls measure the change in the number of employed people during the last month of all non-farming businesses. The total non-farm payroll accounts for approximately 80% of the workers who produce the entire gross domestic product of the United States. It is the single most important piece of data contained in the employment report, which considered to offer the best overview of the economy. The monthly changes and the revisions in payrolls can be quite volatile. A higher than expected reading should be taken as positive/bullish for the USD, while a lower ...

ForexPros Daily Analysis May 5, 2010


Fundamental Analysis: ECB Press Conference

The European Central Bank holds this monthly press conference about 45 minutes after the Minimum Bid Rate is announced. It is about an hour long and has two parts: First, a prepared statement is read; then the conference is opened to press questions. The questions often lead to unscripted answers that trigger market volatility. The press conference, which is broadcasted on the ECB website, is the ECB's primary method for communicating with investors about monetary policy. It covers in detail the factors that affected the most recent interest rate and other policy decisions, such as the overall economic outlook and inflation. ...

ForexPros Daily Analysis May 4, 2010


Fundamental Analysis: ADP Nonfarm Employment Change

Traders of the US anticipate the publication of the ADP National Employment Report. It is a measure of the monthly change of nonfarm private employment, based on a subset of aggregated and anonymous payroll data that represents approximately 400,000 U.S. business clients. This release, 2 days before the government-released employment data , is a good predictive to the government's non-farm payrolls data. The change in this indicator can be very volatile. A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD. ...

ForexPros Daily Analysis May 3, 2010


Fundamental Analysis: RBA Rate Statement

Australian traders anticipate the publication of the monthly interest rate statement. The Reserve Bank of Australia's monthly interest rate statement describes its latest decision regarding changes to the country's short term interest rates, monetary policy, and the direction of the economy. Short term interest rates are the key factor in currency valuation. A dovish statement could push AUD down against its rivals, while hawkish statement could boost the currency.

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Euro Dollar

The Euro broke the hourly chart descending channel on Friday, at 1.3307. But such a break was expected ...