Forex Daily News

U.S. Industrial Production Surged in July
Industrial production (IP) surged 1.0% in July, doubling market expectations for a 0.5% rise. June's data were revised down to show a -0.1% decline from the previously reported 0.1% gain. The capacity utilization rate jumped to 74.8% in July, up from the unrevised level of 74.1% seen during the previous

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actionforex.com, 17 August 2010, 09:17

U.S. Disappointing July Housing Starts
July housing starts managed to gain 1.7% although this was less than the 2.0% expected. As well, the resulting annualized level of 546,000 represented an even greater undershoot relative to an expected 560,000 because June starts were revised down to 537,000 from the 549,000 originally estimated. Disappointing news was also

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actionforex.com, 17 August 2010, 09:16

Canadian Manufacturing Sales above Expectations in June
Manufacturing sales rose 0.1% in June following a 0.5% gain in May (revised from the initially reported 0.4% gain). This result was above market expectations for a -0.5% decline. Eliminating the effect of prices, the volume of manufacturing sales rose 0.7% after a 0.4% gain in May. The volume of

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actionforex.com, 17 August 2010, 09:15

Housing Starts Rise Modestly In July
Homebuilders continue to struggle with the after-effects of the homebuyer tax credit. Buyer traffic, as tracked by the NAHB/Wells Fargo Home Builders Index has fallen back to the levels that persisted before the tax credit was implemented, particularly in the West and South, where the bulk of new home construction

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actionforex.com, 17 August 2010, 09:12

Broad-Based Gains Lead to Big Rise in Industrial Production
Industrial production (IP) rose 1.0 percent in July, which was much stronger than the consensus forecast had anticipated. Although June’s outturn was revised down slightly, the overall level of IP was higher in July than expected. Although July set temperature records in most parts of the country, utilities output was

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actionforex.com, 17 August 2010, 09:11

U.S. Residential Construction Shows Moderate Increase in July from a Sharply Revised June Figure
U.S. housing starts inched up to 546K units in July from a downwardly revised 536K units in the previous month. Despite the monthly gain, the figure was still lower than market expectations for a 560K reckoning. July's performance was the result of a 4.2% M/M decline in single-family units, which

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actionforex.com, 17 August 2010, 09:00

U.S. Industrial Activity Surprises to the Upside in July
U.S. industrial production (IP) grew by 1.0% in July up 7.7% from July of last year which surpassed the market expectations for a 0.5% increase. A slight downward revision indicates that production declined in June by 0.1%. The details of the report show all three subcategories improved in

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actionforex.com, 17 August 2010, 08:58

Trade Idea: EUR/GBP – Buy at 0.8205
As the single currency has rebounded after holding above yesterday’s low at 0.8165, adding credence to our view that a temporary low is likely to be seen soon and consolidation with mild upside bias is seen for retracement to 0.8305 (38.2% Fibonacci retracement of 0.8532 to 0.8165), above would extend

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actionforex.com, 17 August 2010, 08:58

Canada Manufacturing Sales Defy Analyst Expectations
Canadian manufacturing sales pleasantly surprised, edging up by 0.1% in June relative to a month prior, while consensus forecast was calling for a 0.5% decline. This represents the 11th gain on record over the past 13 months (i.e. since May 2009, the month during which shipments troughed). In real terms,

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actionforex.com, 17 August 2010, 08:57

Forex: EUR/USD, trading sideways between 1.2850 and 1.2900/15
FXstreet.com (Barcelona) - Euro retreat from 1.3335 high on August 6 found support yesterday at...

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fxstreet.com, 17 August 2010, 08:53

Geithner poses questions for "fundamental change"
FXstreet.com (Barcelona) - Secretary of Treasury Timothy Geithner assured there is no going back...

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fxstreet.com, 17 August 2010, 08:52

Trade Idea: USD/CAD – Hold short entered at 1.0440
Despite yesterday’s rebound to 1.0465, as the greenback met renewed selling interest there and has fallen again, retaining our bearishness for weakness to indicated objective at 1.0300, however, break of 1.0255-57 (61.8% Fibonacci retracement of 1.0108 to 1.0494 and last week’s low) is needed to signal the rebound from 1.0108

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actionforex.com, 17 August 2010, 08:45

EUR/CHF Mid-Day Outlook
Touching of 1.3451 minor resistance suggests that a temporary low is in place at 1.3270 and bias is turned neutral. Some more recovery could be seen, possibly to 4 hours 55 EMA (now at 1.3568) but upside should be limited well below 1.3923 and bring another fall. Below 1.3270 will target 1.3072 first and then 1.3 psychological level.

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actionforex.com, 17 August 2010, 08:41

EUR/GBP Mid-Day Outlook
EUR/GBP's recovery from 0.8173 extends further today and might continue for a while. Nevertheless, upside is expected to be limited below 0.8361 resistance and bring another fall. Below 0.8173 will target 0.8067 low and then 0.8 psychological level (100% projection of 0.9799 to 0.8399 from 0.9410 at 0.8010). However, break

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actionforex.com, 17 August 2010, 08:40

Forex: USD/JPY testing 85.55 resistance on upbeat industrial production
FXstreet.com (Barcelona) - The Dollar has posted a slight advance against the Yen, jumping from...

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fxstreet.com, 17 August 2010, 08:32