Category: Forex News

US new home sales slides to 467K – USD slide extends

In September, new home sales stand at 467K (annualized). This is actually a 0.2% rise after significant downwards revisions. The revisions are more significant than the actual result in this case, as expectations stood on around 470K.

US dollar weakness is extended after the publication. EUR/USD is on high ground at 1.2680, GBP/USD edging towards 1.61, USD/JPY slips towards 107.80, USD/CAD touches 1.12 and AUD/USD challenges resistance at 0.8820.

Read the rest of the article US new home sales slides to 467K – USD slide extends
Shakes and Ladders

Shakes and Ladders

After suffering repeated convulsions in the past few weeks, global financial markets are on the rise once more. Most major bourses are sitting at elevated levels after evidence that the US employment market continues to accelerate in a stable fashion, and an improvement in European and Chinese purchasing manager indices helped to brighten the investment mood.

This week in the markets: Pound loses out due to poor data

This week in the markets: Pound loses out due to poor data

The pound gradually fell against the dollar this week, as UK economic data and local market events continued to disappoint. MPC minutes on Wednesday painted a fairly dovish picture of what lay ahead for future monetary policy, suggesting that weaker growth and low eurozone inflation had increased downside risks to the UK. With average earnings

EUR/USD: Sensitive To Risk Appetite Anew; We Stay Long – Credit Agricole

EUR/USD: Sensitive To Risk Appetite Anew; We Stay Long – Credit Agricole

EUR/USD is down from the highs seen after the correction. Is it set to continue to lower levels, or is this a correction within the correction? Credit Agricole stays long with a target of 1.31, and explains exactly why: Here is their view, courtesy of eFXnews: The EUR has been supported of late, mainly on

UK GDP +0.7% as expected – GBP/USD ticks up

UK GDP +0.7% as expected – GBP/USD ticks up

No surprises from the UK: the economy grew at a pace of 0.7% q/q in Q3 according to the first read. Year on year, the economy grew 3%, also as expected. GBP/USD is moving up a bit, as a sort of “relief rally”. More: construction numbers look somewhat underwhelming and the index of services is also

EURUSD Prints Price Action BUY Signal on 4 Hour Chart

EURUSD Prints Price Action BUY Signal on 4 Hour Chart

I’ve been making a better effort to check what’s been going on the 4 hour time frame in these faster paced markets. The EURUSD downward trend seems to have lost some momentum and we are seeing price really ‘jam up’ and congest above a daily support level. The EURUSD was basically in ‘freefall’ for a

GBP/JPY: Strengthens, Eyes Further Upside

GBP/JPY: Strengthens, Eyes Further Upside

GBPJPY – With GBPJPY taking back some of its intraday losses on Wednesday and strengthening during Thursday trading today, further upside pressure is expected. On the upside, resistance lies at the 173.50 level followed by the 174.00 level where a break will aim at the 175.00 level. A cut through here will aim at the

Ottawa Tragedy Propels Loonie Volatility

Ottawa Tragedy Propels Loonie Volatility

After yesterday’s tragic events in Ottawa where Corporal Nathan Cirillo was fatally wounded outside the National War Memorial by an armed gunman, tensions are easing around further conflict within Canada’s borders.  While the nation’s capital remains on high alert with police still investigating whether the shooter, identified as Michael Zehaf-Bibeau, acted alone, the incident appears

US jobless claims rises to 283K – lowest moving average since May 2000 – dollar higher

US jobless claims rises to 283K – lowest moving average since May 2000 – dollar higher

US unemployment claims are off the lows and rise back to 283K. However, this number still reflects a low level and maintains a low moving average: 281K – the lowest since May 2000. Last week’s number was revised up from 264K to 266K. Continuing claims dropped to 2351K, better than 2380K expected. The dollar is slightly

USD Index has room to fall before another rise; DAX looks bullish – Elliott Wave Analysis

USD Index has room to fall before another rise; DAX looks bullish – Elliott Wave Analysis

Good data from the euro-area sent the EURUSD away from the lows, but other currencies are still under pressure, such as GBP and JPY while AUDUSD is sideways. Today we decided to look at the USD Index and not EURUSD. The reason is a clear wave structure. Note that the rally from 84.76 was made