News / Page 241

European Session – Dollar boosted by GDP, pending home sales and consumer sentiment data

Posted on February 27, 2015 at 3:25 pm GMT

The euro made a slight recovery against the dollar during the European session, to reach a high of 1.1244 but fell sharply as the US session came around, to reach a low of 1.1175. Positive news out of Europe today was that of Germany’s parliament approving an extension of Greece’s loan by four months. Meanwhile, economic data helped support the single currency earlier in the European session as German inflation numbers printed higher-than-expected. The flash CPI reading for February increased [..]

Forex News – Week Ahead – Busy week with ECB, RBA, BoE and nonfarm payrolls

Posted on February 27, 2015 at 1:53 pm GMT

The highlights of next week will be the European Central Bank and Bank of England policy meetings as well as the all-important US nonfarm payrolls report. PMI releases from several countries will also be interesting to watch. The ECB meeting will be held in Cyprus on Thursday March 5th. All eyes will be on the news conference that follows to see what ECB President Mario Draghi will have to say on the Bank’s new QE program which starts in March. The [..]

Asian Session – Dollar keeps most gains after previous day’s strong rally

Posted on February 27, 2015 at 8:01 am GMT

Following a very strong performance the previous day, the US dollar managed to cling on to most of its gains during the beginning of the last trading day of the month. Euro / dollar was trading around the 1.12 area, following a dip to as low as 1.1182 in early Asian trading. Dollar / yen managed to climb to 119.50 in late US session trading, while profit-taking and some positive Japanese statistics limited the pair’s gains back to around 119.30. [..]

Technical Analysis – EURUSD downside bias strengthens

Posted on February 27, 2015 at 7:56 am GMT

EURUSD has been consolidating since the beginning of the month but the break of minor support of 1.1260 on Thursday is shifting the bias back to the downside to open the way for a retest of the multi-year low of 1.1096 hit on January 26. A break below this would target 1.0762. On the upside a break above the key 1.1500 level would weaken the bearish case. In the bigger picture, the trend is bearish as prices have been making [..]

European Session – Dollar surges on data and Bullard comments

Posted on February 26, 2015 at 3:26 pm GMT

The European session lacked major news releases, leaving the focus on the US session which had a slew of economic data releases. As a result, most major currency pairs were rangebound during the European session until the early US session when volatility spiked in reaction to comments made by St. Louis Fed President James Bullard. Bullard was speaking on CNBC and suggested that the Fed remove the word “patient” from its next policy statement as he is a strong proponent [..]

Forex News – UK continues to grow, Q4 GDP at 0.5%

Posted on February 26, 2015 at 2:21 pm GMT

The second estimate of UK gross domestic product (GDP) for the fourth quarter of 2015 showed that economic growth expanded by 0.5% quarter on quarter. This was in line with most expectations but this figure was the slowest quarterly growth rate in a year and lower than the third quarter’s 0.7% q/q growth rate. Nevertheless, the GDP data are much better than the Eurozone’s and a recent series of strong UK economic data highlight that the UK economy is on [..]

Technical Analysis – GBPUSD continues rally to new 8-week high

Posted on February 26, 2015 at 8:21 am GMT

GBPUSD managed to break above and close above the 23.6% Fibonacci retracement level of the 1.7190 to 1.4949 fall. This level comes in at 1.5477. The corrective move higher continues after bouncing from this multi-month low and prices reached a high of 1.5551 by early Thursday, hitting a fresh 8-week high. There is a likelihood for further upward momentum as prices have moved above the top of the cloud and the RSI has entered bullish territory above 50. Also the [..]

Asian Session – Aussie down on weak data; dollar ponders Yellen’s message

Posted on February 26, 2015 at 8:15 am GMT

The Australian dollar retreated during today’s Asian trading in an otherwise quiet session, where other majors were relatively stable. The US dollar was left wondering when the much-speculated interest rate increase by the Federal Reserve would take place, following Janet Yellen’s mildly dovish tone during her 2-day testimony before Congress. A delay in raising US interest rates could affect the dollar’s relentless rise since around the middle of 2014 and could make the dollar more of a 2-way bet. This is one [..]

European Session – Sterling hits 8-month high versus broadly weak greenback

Posted on February 25, 2015 at 3:32 pm GMT

The US dollar was broadly weaker today giving a lift to its major counterparts, especially against the sterling which hit an 8-month high versus the greenback. Helping support the pound were comments by Bank of England Governor Mark Carney on Tuesday which firmed expectations for the central bank to begin raising rates by early in 2016. The pound rose to a high of 1.5537 in early European trading before falling just below the key 1.5500 level. Focus now turns to UK [..]

Forex News – Janet Yellen signals Fed to hold off rate hikes for now

Posted on February 25, 2015 at 10:21 am GMT

The semi-annual testimony of Federal Reserve Chair Janet Yellen on monetary policy before Congress was roughly in line with expectations. Yellen was cautious not to create expectations that the Fed was preparing to hike interest rates imminently but at the same time she wanted to signal that the Fed was still moving towards some sort of policy normalization. This was a balancing act that Yellen appeared to be managing relatively well. The Fed is also still trying to transition from [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

News

XM Live Chat