Category: Forex News

GBP/USD strongest since 2009, EUR/USD remains resilient

Sterling is on its front foot as the holiday shortened trading week draws to a close following better than expected UK employment statistics. Data released Wednesday showed that the unemployment rate in the UK bested the consensus forecast of 7.1%, declining to 6.9% in March; its lowest reading in almost 5-years.

Previous to this data the British unit had been looking at risk due to Tuesday’s CPI result, which revealed that inflation in the UK continued to slide last month. As recently as July 2013 inflation was at 2.9%, near the top of the Bank of England’s (BoE) target band, however this week’s number printed 1.6%. The speed and depth of these declines is a concern to the BoE, whom have already warned of the risks that dis-inflation pose to the broader UK recovery.

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EURUSD flat markets ahead of easter, but gearing up for downward movement

EURUSD flat markets ahead of easter, but gearing up for downward movement

It seems the markets have taken pause ahead of the Easter break, there isn’t much activity across the currencies as most markets remain flat with the weekly candles showing indecision. These stale, low volatility markets can be frustrating for traders but it’s where you must demonstrate the highest levels of discipline. EURUSD very flat at

Yellen’s speech sends dollar down

Yellen’s speech sends dollar down

Dovish undertones in Federal Reserve Chair Yellen’s first monetary policy speech reverberated through markets and have led the dollar lower against its peers with the dollar index declining 0.25% at time of writing to 79.63.  Yellen renewed the Fed’s pledge to maintain an accommodative stance until such time that the central bank is confident that

Forex Markets Likely to Goad ECB into Action

Forex Markets Likely to Goad ECB into Action

Mario Draghi, the president of the European Central Bank, is probably one of the most effective central bankers when it comes to talking the markets in a particular direction – but if he wants a weaker EUR, action will have to back his words. Recently the ECB surprised forex markets with talk of unconventional monetary

Philly Fed Manufacturing Index jumps to 16.6 points – USD advances

Philly Fed Manufacturing Index jumps to 16.6 points – USD advances

More good news form the US: the Philly Fed Index jumps to 16.6 poitns. The US Philly Fed Manufacturing Index was expected to edge up from 9 to 9.6 points in April. This index carries a lot of weight because of its early publication: in the current month. For this specific release, it serves as

US jobless claims remain low at 304K

US jobless claims remain low at 304K

Positive news for the US: jobless claims remain at a low level of 304K. Continuing claims drop to 2.739 million. US weekly jobless claims were expected  to rise back up to 316K from the low level of 302K seen last week (revised down from 300K originally reported). The 4 week moving average dropped to 312K.

How to trade forex like Jim Rogers

How to trade forex like Jim Rogers

Jim Rogers is a legendary trader/ investor who came to prominence in the early 1970’s when he set up the Quantum Fund alongside George Soros. The Quantum Fund is one of the best performing hedge funds of all time and it’s success allowed Rogers the luxury of being able to retire from Wall Street at

EUR/USD April 17 – Euro Firm After Yellen Comments

EUR/USD April 17 – Euro Firm After Yellen Comments

EUR/USD has moved higher on Thursday, as the euro continues to take advantage of dovish comments by Fed chair Janet Yellen on Wednesday. The pair is trading in the mid-1.38 range in the European session. Today’s sole Eurozone release, German PPI, declined last month, as Eurozone inflation indicators remain weak. In the US, we’ll get a look at

USDCHF: Bullish Reversal Still In View For 2014 (Elliott Wave Analysis)

USDCHF: Bullish Reversal Still In View For 2014 (Elliott Wave Analysis)

USDCHF fell to a new low of the year so the market remains in bearish mode as long as the 0.9080 swing high is not breached. But, the question is: for how long? We are looking at an ending diagonal pattern in wave C that suggests a coming bullish reversal sometime this year, most likely

Looking for buy signals with AUDUSD uptrend

Looking for buy signals with AUDUSD uptrend

The AUDUSD is a market that I’ve been watching closely the last few months, because it is currently displaying beautiful, stable trending conditions. I am definitely only looking for buying opportunities here to flow in with the core uptrend momentum. The current situation here is the AUDUSD market has just corrected from new highs, back