In Association with OANDA Corporation

Report by Dean Popplewell

Dean Popplewell has a wealth of forex experience: professional currency trader for 10 years, fixed income trader for four years, and head of the global trading desks at various financial institutions in Canada. Dean is OANDA’s resident currency analyst and has been writingOANDA’s daily forex blog since January 2007 as a way to share some of his forex experience with the OANDA community.

Week in FX Europe June 17–22

Germany’s Merkel says we must fight for the Euro. Was she referring to the Euro championship? This week has all been about Spain, both on the pitch and in banking circles. Independent audit reports presented their worst and it was better than the market was expected and has done little for risk. Bearish EUR is the market consensus for now. Despite the hopes for policy response, “investors
EUROPE Week in FX

Red Hot China Blows Cold

Perhaps China could lead the way? Nope, data this week has not given risk lovers a “warm and fuzzy feeling.” China’s HSBC Flash PMI fell to a seven-month low of 48.1 in June from a final reading of 48.4 in May. The most frightening part, the new orders index component fell to 46.8 from 48.4 last month, a three-month low. It seems that the Chinese government attempt to spur growth has yet
ASIA Week in FX

QE3 on Offer for Next Fed Meet

Twist 2 or Twist light? Investors had been warned that if the Fed failed to deliver, they should brace themselves for substantial fallout. They knew that QE3 signals from the FOMC would be much more important in moving risk that the euro-zone crisis has been in moving the markets. The recent deterioration of US economic data and financial market conditions had boosted expectations for
AMERICAS Week in FX

WEEK AHEAD

Consumer confidence and pending/new home data dominates USD
USD Durable Goods report splits the week
Current account, public sector borrowing and inflation keeps – GBP busy
EUR is expected to be influenced by German economic and business sentiment
EUR direction depends on EU Economic Summit and Italian Bond action
CAD has its GDP and NZD its business confidence to contend with CNY back on line with Manufacturing PMI

Forex Order Book

A 24-hour summary of open orders and positions

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Forex Historical Position Ratios

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