forex news

Forex News – Week Ahead – Fed and SNB rate decisions are key events

Posted on March 13, 2015 at 1:55 pm GMT

The Fed’s latest interest rate decision will be the highlight of next week. This key event is scheduled for Wednesday when the Federal Open Market Committee (FOMC) will hold a policy meeting and make the rate announcement after. Recently speculation has grown that the Fed will begin to hike rates by the middle of this year, based on improving economic data that highlight the strengthening US economy. The Federal funds rate has been at record lows close to zero since [..]

European Session – Nonfarm payrolls push euro below 1.14

Posted on February 6, 2015 at 2:53 pm GMT

Currency markets were quiet ahead of the biggest data point of the month – the US nonfarm payrolls report (NFP). Most of the majors consolidated against the greenback, especially sterling. The euro was the exception as it was driven lower by some weak industrial data out of Germany and Spain. The aussie outperformed in response to the release of the Reserve Bank of Australia’s quarterly Statement on Monetary Policy. The US jobs data beat forecasts in January, with huge upward [..]

Forex News – Oil briefly rises above $54 but will it sustain rally?

Posted on February 4, 2015 at 2:11 pm GMT

Oil prices rallied sharply on Tuesday to rise above $54 a barrel, peaking at $54.20, which is the highest level so far this year. Since hitting a 6-year low of $43.57 on January 29, prices are up more than 20%. The question is whether oil prices are finally on the rebound after having declined for over 7 months, as prices dropped steeply from the June 2014 peak of $107.45. Some analysts say the recent rally will weaken, given that there [..]

Technical Analysis – EURJPY could see another leg lower

Posted on January 29, 2015 at 7:37 am GMT

EURJPY maintains its bearish trend in the medium term and is neutral on an intra-day basis. The recovery looks limited after bouncing from a low of 130.13. The pair rallied to 134.34 yesterday before easing back down to 132.80. The intra-day bias is neutral as the market remains trapped in the hourly Ichimoku cloud and the tenkan-sen and kijun-sen lines are flat, suggesting consolidation around 133.00. The outlook remains bearish as the pair has made lower lows peaks and lower [..]

Asian Session – Euro falls to new 2-year low on speculation of ECB easing

Posted on January 2, 2015 at 8:53 am GMT

The first trading day of 2015 saw broad strength for the US dollar. The greenback opened the Asian session with a gap at 120.41 compared to Wednesday’s close of119.85. The pair continued to edge higher to break above the key 120.00 yen to peak at a high of 120.49. Dovish comments from Bank of Japan Governor Haruhiko Kuroda contributed to the yen’s weakness. In a media report on New Year’s Day, the BoJ Chief said the Bank has various tools [..]

Forex News – BoE minutes retain concern over low UK inflation, weigh on pound

Posted on December 17, 2014 at 2:09 pm GMT

The United Kingdom was in focus today as there were some key data releases from there. These included the Bank of England minutes and jobs data. The BoE minutes of the latest Monetary Policy Committee’s meeting on December 4th offered little to change the view that interest rates will stay near record lows until at least the second half of 2015. Concerns over inflation remain. The MPC doves were still a majority as only 2 out of 9 MPC members [..]

European Session – Euro, sterling up on data

Posted on December 16, 2014 at 3:11 pm GMT

Currency markets were volatile today due to a risk-off climate which triggered safe-haven demand, resulting in flows to the yen. The dollar’s recent losses against the euro and the yen were extended. Some weak US housing data did not help the greenback. Housing starts declined 1.6% in November, as the annual rate of total housing starts fell to 1.03 million last month from 1.05 million in October. Last week’s low near 117.43 yen was taken out by early Asian session [..]

FX Daily Outlook

Posted on December 16, 2014 at 9:59 am GMT

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European Session – Euro capped at 1.2400 as focus turns to TLTRO

Posted on December 10, 2014 at 2:25 pm GMT

News flow was light today and with no major economic data releases to cause big moves, most major currency pairs consolidated at Tuesday’s levels as the broader theme was risk aversion. The only data of note today was China’s CPI which came in softer-than- expected at 1.4%, thereby keeping market sentiment down. The yen benefited from risk aversion, maintaining gains against the dollar and euro. However, key risk for the yen will be Sunday’s Lower House elections in Japan. The [..]

Forex News – UK manufacturing sector shows signs of weakness

Posted on December 9, 2014 at 11:24 am GMT

UK data from the industrial sector on Tuesday showed signs that the British economy was not performing that well in the fourth quarter. Growth in manufacturing has been a lot weaker than the services sector. According to the Office for National Statistics (ONS), output is still well below 2008 levels. Figures released for October showed industrial output contracted unexpectedly and manufacturing output tumbled by the most since May. After having jumped by a revised 0.7 percent in September, industrial output [..]

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