IntelligentHQ Forex Week In Review June 17th to June 22nd

In Association with OANDA Corporation

Report by  Dean Popplewell

bio_dean-e1339923416435Dean Popplewell  has a wealth of  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 ’s resident currency analyst and has been writing’s daily forex blog since January 2007 as a way to share some of his forex experience with the  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

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



  • 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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