Category: Forex News

New Zealand election results are NZD positive – Sunday gap possible

Results are coming in from the parliamentary elections in New Zealand and the results show a victory for the National Party, giving Prime Minister John Key a third term in office. Markets like continuity and certainty as well as market oriented governments.

This was not unexpected, but the actual results could even be better: National is en route to win an absolute majority in parliament, with 61 out of 121 seats, making policy making easier, even if Key opts to form a coalition with a few small parties.

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Greenback rallies to multi-year highs on interest rate trajectory; Focus shifts from GBP to EUR

Greenback rallies to multi-year highs on interest rate trajectory; Focus shifts from GBP to EUR

As forecast the result of Thursday’s Scottish independence referendum was that the land of scotch and bagpipes with remain a part of Team GB. That outcome however was far from certain in the final days of campaigning. This resulted in significant volatility in Sterling pairs, especially towards the end of the week. GBPUSD has traded

EUR/USD Sep. 19 – Sliding from the highs as markets digest Scottish No

EUR/USD Sep. 19 – Sliding from the highs as markets digest Scottish No

EUR/USD is ticking lower below resistance at 1.2920, sliding after the counter reaction to the FOMC dollar rally. Scotland voted against independence and this is also a sign of relief for Europe. The focus now returns to monetary policy divergence between the euro-zone and the US. Here’s a quick update on technicals, fundamentals and sentiment moving

GBP/USD approaching falling 200 day Moving Average, but remains bullish near term

GBP/USD approaching falling 200 day Moving Average, but remains bullish near term

A daily candlestick chart of the GBP/USD currency pair appears above showing the rate rising sharply yesterday and this morning beyond its medium term down trend line drawn in red. It also pushed strongly above its 38.2 percent Fibonacci retracement level towards it 26.8 percent level. The rate is now approaching its falling 200 day

This week in the markets: Scottish independence ‘no’ vote pushes the pound higher

This week in the markets: Scottish independence ‘no’ vote pushes the pound higher

The pound was depressed early in the week thanks to uncertainty over the outcome of the Scottish vote, with GBP/USD dropping below 1.62 on Tuesday. All the main Westminster political parties pledged more powers to Scotland, with the Daily Record running a front page article signed by David Cameron, Ed Miliband and Nick Clegg with

GBP/USD and GBP/JPY Post Referendum Elliott Wave Analysis

GBP/USD and GBP/JPY Post Referendum Elliott Wave Analysis

Cable came down in the last couple of hours, but as long as the decline from the top is in three legs only, and not in five, we cannot confirm any top in place for the pair. So for now, the intraday trend is up, but we are waiting on bearish reversal signs to be

EUR/AUD Remains At Risk For Key Reasons

EUR/AUD Remains At Risk For Key Reasons

Technical Bias: Neutral Key Takeaways • Euro surged higher against the Aussie dollar recently as the latter one got sold aggressively. • 1.4370 is a short-term important support level, which if breached could ignite losses in the EURAUD pair. • EURAUD support seen at 1.4370 and resistance ahead at 1.4430. The EURAUD pair is at

Scotland officially rejects independence – GBP/USD sells the fact

Scotland officially rejects independence – GBP/USD sells the fact

No projections anymore. It’s now beyond all math – the Scots rejected independence from the UK. The lead is clear: around 9%.The last results out of Fife, Gordon Brown’s region, released its numbers and that is it. The pound is not celebrating just yet. We may be seeing a “sell the fact” response. However, we will see

USD/JPY breaks above 109 as Japanese government downgrades economic forecasts

USD/JPY breaks above 109 as Japanese government downgrades economic forecasts

USD/JPY continues looking unstoppable, and it now it took another round number: 109. The pair consolidated its gains that followed the FOMC dollar rally and stayed under 109 for some time. The move seems to be a mix of another dollar move higher, together with a downgrade of economic forecasts by the Japanese government. Japan sees

No to Scottish Independence say major networks

No to Scottish Independence say major networks

Sky News, the Guardian and the BBC now see a clear picture for a No vote, even if there still is a mathematical chance for a Yes. The Better Together campaign is celebrating. The Yes campaign is not conceding yet, but the mood is quite sour. Scotland says No – it’s almost official. And that’s