Category: Forex News

EUR/USD Daily April 23 – Solid PMIs Push Euro Higher

EUR/USD is pointing higher on Wednesday, as the pair trades in the mid-1.38 range in the European session. In economic news, Eurozone and German PMIs beat the forecast, but French PMIs missed expectations. In the US, today’s highlight is New Home Sales. The markets are expecting the indicator to improve in March.

Here is a quick update on the technical situation, indicators, and market sentiment that moves euro/dollar.

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MPC worried about UK current account deficit, notes house price momentum

MPC worried about UK current account deficit, notes house price momentum

No surprises in the MPC Meeting Minutes: unanimous decisions all around. However, the notes are interesting. These are the minutes from the April meeting which saw no change in policy. A unanimous vote was expected in both policy tools: an interest rate of 0.50% and a QE program of 375 billion pounds. In recent years,

AUD/USD down 100 pips cooling Australian inflation

AUD/USD down 100 pips cooling Australian inflation

Inflation in Australia is not as strong as expected. All the figures for the first quarter fell short of expectations. coupled with yet another weak read from China, the Australian dollar was hit hard. AUD/USD is trading around 100 pips lower than before the publication, down three trading ranges. Front running the publication with a

German Flash PMIs beat expectations, French miss

German Flash PMIs beat expectations, French miss

German flash manufacturing PMI rose to 54.2 points and the services PMI moved up to 55 points. Markit’s purchasing managers’ index for the manufacturing sector was expected to tick up from 53.7 to 53.9 points. The services PMI carried expectations for a rise from 53 to 53.5 points. The divergence between the two core countries

Conflicting reports of battles in Ukraine drive investors away from risk

Conflicting reports of battles in Ukraine drive investors away from risk

Mark Twain once said “A lie can travel halfway around the world while the truth is putting on its shoes”. More than a century later, this remains accurate, and nowhere more so than the financial markets. Conflicting reports are flooding in from the putative battlefields in Ukraine, forcing participants to seek protection against risk -despite

AUD/USD breaks higher towards two important data releases

AUD/USD breaks higher towards two important data releases

The Australian dollar took its time in waking up from the long Easter weekend and is now looking strong: not only bouncing from the bottom but also moving to a higher range. The Australian dollar faces two important data releases, 15 minutes apart. These could determine if the bounce is just a correction before the

March US existing home sales 4.59 million – no surprises

March US existing home sales 4.59 million – no surprises

No surprises in US existing home sales: an annual level of 4.59 million in March. The US was expected to report a level of around 4.57 million sales (annualized) in March after posting a similar figure of 4.60 million in February (before revisions). Most transactions in the housing market are for existing, second hand homes.

US recovery on track and set to boost USD strength

US recovery on track and set to boost USD strength

While the market initially experienced a slow start to the week with holidays in much of Europe and other western markets, optimism is growing in the US as company earnings season kicks off and a series of data announcements this week are expected to show an improvement in the health of the US economy. New

EUR/USD April 22 – Hugging 1.38 in Quiet Trade

EUR/USD April 22 – Hugging 1.38 in Quiet Trade

EUR/USD is steady on Tuesday, trading close to the 1.38 line in the European session. The pair is not showing much movement as the European markets return to action following a long Easter holiday. On the release front, Consumer Confidence is the sole Eurozone event. Today’s major US release is Existing Home Sales. The indicator has

Waiting to buy GBPNZD after retracement into support

Waiting to buy GBPNZD after retracement into support

Today I wanted to draw your attention to the GBPNZD cross pair, which has sparked up much conversation in our Forex War Room chat. The market is started to recover from a lengthy downtrend, the bearish momentum recently died off and caused the market to consolidate for a few weeks. A resistance level which was