Category: Forex News

Canadian dollar crashing down – USD/CAD > 1.08

The Canadian dollar continues its journey south, mostly suffering from the strength of the US dollar. This is the highest level since May.

USD/CAD shot above the 1.08 level after breaking earlier above resistance at 1.0750 and stopping only for a short pause.

Read the rest of the article Canadian dollar crashing down – USD/CAD > 1.08
US durable goods orders exceed expectations with +0.7%

US durable goods orders exceed expectations with +0.7%

Better than expected: headline orders rise by 0.7% and core orders by 0.8%. Durable goods orders were expected to to advance by 0.4% in June after a drop of 0.9% in May. Core durable goods orders were predicted to rise by 0.6% after remaining flat in May. By another measure, non-defense no air, we have a

GBP: Markets react to rumours around Carney predictions

GBP: Markets react to rumours around Carney predictions

Risk sentiment waned on Monday last week as violence in Gaza escalated and geopolitical tensions intensified following the Malaysian airways crash.  There were also some rumours doing the rounds on Friday that BoE Governor Carney gave an interview to a weekend paper in which he appeared dovish on monetary policy.  It turned out to be a false

GBPAUD Might Retrace Before Heading Lower Again

GBPAUD Might Retrace Before Heading Lower Again

The British pound traded lower against the Australian dollar earlier during this week. However, it looks like the pair is stabilizing now and might correct higher from the current levels. The UK Gross Domestic Product was released by the National Statistics earlier during the London session, which came in line with the expectation. The report

EUR/USD July 25 – Pressured to low range on weak data

EUR/USD July 25 – Pressured to low range on weak data

EUR/USD is trading lower as the week draws to an end, as geo-political issues push German business confidence lower. The euro seems to ignore some monetary relief recorded in the zone. It is now trading below the pivotal 1.3450 line. Later in the day, we have important data from the US.  Here is a quick update on what’s

UK GDP 0.8% as expected – GBP/USD edges higher but not for long

UK GDP 0.8% as expected – GBP/USD edges higher but not for long

No surprises from the UK GDP: q/q growth is 0.8% and year over year it is 3.1%. The United Kingdom was expected to report a quarterly growth rate of 0.8% in Q2 2014. Year over year, a growth rate of 3.1% was estimated. This is the initial publication for the quarter and two revisions are

IFO Business Climate falls to 108 – EUR/USD follows

IFO Business Climate falls to 108 – EUR/USD follows

Disappointing data from Germany’s IFO institute: the headline business climate figure dropped to 108, “current assessment” dips to 112.9 and the expectations component fell below expectations at 103.4 points. These are significant misses. The German IFO business climate was expected to tick down from 109.7 to 109.4 points in July. The “Current Assessment” component was predicted

US new home sales plunge in June to 406K – USD retreats

US new home sales plunge in June to 406K – USD retreats

A big disappointment from the housing sector and not for the first time: a drop to 406K. This is a drop of 8.1%, which sounds a lot but it’s actually even worse if we take into account the huge downwards revision from 485K to 442K. It’s just bad no matter how we look at it. New

Equities rise after strong PMI readings

Equities rise after strong PMI readings

World equities, with the exception of the Nikkei, were bolstered by strong Purchasing Managers Index (PMI) readings from China and the euro zone.   The HSBC flash manufacturing PMI reached an 18 month high of 52.0 in July from 50.7 the previous month and marks the second consecutive month in expansion territory.  The solid reading can

US jobless claims fall to 284K – great news – GBP/USD loses 1.70

US jobless claims fall to 284K – great news – GBP/USD loses 1.70

Excellent news from the US job market: only 284K, the lowest in a long time: February 2006. Weekly jobless claims were expected to tick up to 310K from 303K last week (before revisions). This is within the recent steady and stable range. The previous 4 week moving average stood on 309K and it now stands at