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Forex News – AUDNZD tumbles after dismal Australia jobs and hawkish RBNZ

Posted on September 12, 2013 at 7:39 am GMT

AUDNZD was hit hard during the Asia session, as the Australian dollar took a double blow as a result of disappointing Australian jobs data while a hawkish Reserve Bank of New Zealand strengthened the kiwi, thereby resulting in two spikes lower for the antipodean pair. Australia’s unemployment rate hit a four-year high, up 0.1 percent to 5.8 percent in August from July while the number of full time jobs lost in the economy was more than expected. Economists had predicted [..]

Asian Session – Australian dollar falls on weak jobs data

Posted on September 12, 2013 at 6:19 am GMT

In regional currencies today, the Australian dollar fell after disappointing jobs data. The unemployment rate came in at 5.8 percent, a four-year high, cast doubts on the market’s perception the Reserve Bank of Australia would keep rates steady until the end of the year. AUDUSD dropped from a pre-data level of $0.9353 down to a session low of $0.9242. The New Zealand dollar on the other outperformed today hitting a four-week high against the greenback after hawkish Reserve Bank of [..]

US Session – Dollar index falls as Fed meeting comes into focus

Posted on September 11, 2013 at 8:29 pm GMT

The U.S. dollar weakened further in the U.S. session on Wednesday as focus is turning to next week’s Federal Reserve meeting which is a big risk event for the currency. If the Fed decides to delay tapering this will weaken dollar. It appears that for now investors are being cautious as their expectations are that the Fed will not taper this month and hence are unloading long USD positions. The fact that tensions in Syria have eased has raised risk [..]

Technical Analysis – EURUSD September 11

Posted on September 11, 2013 at 1:29 pm GMT

EURUSD is on consolidation between 1.3243 and 1.3281 in early U.S. session trading on Wednesday. The pair is finding support at the key 1.3250 level while remaining below the 32.6% Fibonacci at 1.3287 . (Fib on the daily chart of the move from the July 9 low to August 20 high. Indicators are mixed on the Hourly Chart. RSI is above 50 and prices are above moving averages and above the kumo but MACD and Stochastics are turning down. Caution [..]

European Session – Market focus is back on data and Fed

Posted on September 11, 2013 at 11:41 am GMT

Currency markets are stable today with risk sentiment back on as the Syria crisis that has dominated markets recently has eased somewhat. This is due to U.S. President Obama holding off on military intervention for now until diplomatic talks are being pursued now. Apart from geopolitical news, we had some important economic data today from the U.K. with relation to jobs. Market focus will now shift to next week’s Fed meeting. Sterling jumped to a fresh seven month high against [..]

Forex News – UK unemployment drops to lowest this year, sterling strengthens

Posted on September 11, 2013 at 11:07 am GMT

Sterling jumped to a fresh seven month high against the dollar after upbeat U.K. jobs data on Wednesday, adding to expectations that the Bank of England could raise interest rates sooner than expected. According to a report from the Office for National Statistics, Britain’s unemployment rate dipped to 7.7 percent in the three months ending in July from 7.8 percent previously. This was the lowest jobless rate since September-November 2012 as the number of people without a job on the [..]

Asian Session – Obama’s Syria speech eases market fears, dollar rises versus yen

Posted on September 11, 2013 at 6:17 am GMT

Risk currencies rose while Asian equity markets gained across much of the region due to investors decreasing their expectations of an imminent U.S. military strike on Syria. This comes after the White House said it would pursue a diplomatic path with Russia to rid Syria of chemical weapons. Just before the Asian session began, U.S. president Barack Obama addressed the nation saying he asked for the delay of a Congressional vote to authorise a military strike against Syria. He said [..]

US Session – USDJPY at 7-week high

Posted on September 10, 2013 at 8:36 pm GMT

The dollar fell against risk currencies while the yen also weakened as safe haven demand fell today due to geopolitical news as well as next week’s Fed meeting. The immediate market theme today was again on Syria as the threat of U.S. military attack in Syria eases and the crisis moves to diplomatic avenues at the U.N. This comes after Russia proposed that Syria gives control of its chemical weapons to an international body. The news lifted risk appetite and [..]

Technical Analysis – USDJPY September 10

Posted on September 10, 2013 at 1:38 pm GMT

On the Daily chart we see USDJPY broke out of the triangle on September 3 and has breached the 50% Fibonacci resistance level of the move down from the Jul 8 high to August 8 low . Since the triangle was completed and the USDJPY pair broke out, it has remained above the 50% Fib and has found support at 99.31 yen which is the 61.8% Fib level. The uptrend appears to be intact. Buying on dips would be a [..]

Forex News – Norway Krone boosted by rising inflation and election results

Posted on September 10, 2013 at 12:59 pm GMT

Norway’s krone was the best performing G10 currency on Tuesday after being boosted by a combination of a national election outcome and much higher than expected inflation. The Conservative party won a majority in Monday’s election and have pledged to cut income and wealth taxes, boost investments in infrastructure and ease mortgage lending regulations. Fifty-two year old Conservative leader Erna Solberg will now need to put together a coalition. Meanwhile, data today showed Norway’s underlying inflation rate accelerated more than [..]

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