Category: Forex News

Tantrum Tempered:

Financial markets are stabilizing this morning, after last week’s sell off destroyed more than a trillion dollars in wealth. Ostensibly triggered by the Federal Reserve’s plans to end asset purchases at the end of this month, the rout in the foreign exchange markets is now seeing a slight reversal. Depressed Treasury yields are making it less attractive to invest at the centre of the financial system – helping to lift Southeast Asian and Latin American emerging market currencies against the large industrialized units.

The US dollar is marking gains against most of the majors, supported by Friday’ssurprisingly robust consumer sentiment and housing start numbers, as well as a continued string of positive earnings releases. The yen is slightly weaker to start the week, helping to propel the Nikkei composite equity index to a four percent gain overnight.

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USD/JPY: Hesitates Ahead Of The 107.52 Level

USD/JPY: Hesitates Ahead Of The 107.52 Level

USDJPY: Trouble is now looming ahead of the 107.52 level as USDJPY is now facing bear threat. If it closes lower on a negative candle, it would have ended its recovery and turned risk lower. On the downside, support comes in at the 106.00 level where a break if seen will aim at the 105.50.00

Why We Remain Euro Bears; Risk & JPY Next Move – CIBC

Why We Remain Euro Bears; Risk & JPY Next Move – CIBC

EUR/USD had two weeks of rises, in a high volatility environment. Can it continue rising? The team at CIBC remains bearish on the euro. They also offer their opinions on risk and the Japanese yen. Here is their view, courtesy of eFXnews: The following are the weekly outlooks for the EUR and JPY as provided by

USD/CAD looking bullish; AUD/USD looking bearish – Elliott Wave Analysis

USD/CAD looking bullish; AUD/USD looking bearish – Elliott Wave Analysis

AUD is looking bearish against the USD as we see a nice triangle forming in wave 4. Well, maybe a pattern is already completed after the recent three waves up in wave (e) so the price could go south soon, but real confirmation would be a break of wave (d) low. So until then, we

GBP in damage control mode

GBP in damage control mode

Sterling remained under pressure last week following September’s UK CPI reading. Data showed that prices in Britain increased at a rate of +1.2%, the worst result since 2009, and below expectations of a +1.4% outcome. The data pours cold water on expectations that the Bank of England (BoE) will look to hike rates in the first

Australian economic report

Australian economic report

RBA Meeting The Reserve Bank of Australia at its latest board meeting kept the official interest rate on hold at 2.5%, which is its lowest level in 14 years. The rate first hit this level in August last year and has remained there ever since. Recent economic news out of Australia such as the unemployment

GBP/USD Technical analysis October 20-24

GBP/USD Technical analysis October 20-24

After worse than expected UK CPI Data on Tuesday October 14th bears took cable towards 1.5870 levels (inverse Fibonacci 23.6 level) where the pair found its next support level.  Although the pair had a strong bullish momentum during the second half of the week, the pair could not breach its down-sloping trendline, and closed the

EUR/JPY: Targets Further Bullishness

EUR/JPY: Targets Further Bullishness

EURJPY- Having reversed its intra day weakness to close higher on a rejection candle formation on Thursday, further recovery higher is likely. Support comes in at the 135.50 level where a break will aim at the 135.00 level. A break will target the 134.50 level with a breach turning focus to the 134.00 level. Below

This week in the markets: Sterling suffers under low inflation figures

This week in the markets: Sterling suffers under low inflation figures

It’s been a volatile week for the financial markets. Stock indices around the world have snapped lower as global economic data disappointed expectations, concerns for any eurozone recovery failed to dissipate and the panic over Ebola spread through the western world. The USD has generally felt the benefit of all this as investors take flight

EUR/USD, GBP/USD, USD/JPY Technical Analysis, Pivot Points October 17

EUR/USD, GBP/USD, USD/JPY Technical Analysis, Pivot Points October 17

EURUSD Daily Pivots R3 1.3005 R2 1.2925 R1 1.2866 Pivot 1.2785 S1 1.2727 S2 1.2646 S3 1.2588   EURUSD hit resistance near 1.2828 and 1.284 levels and promptly drifted lower. Support comes in at today’s pivot level of 1.2785, which if tested successfully, could see EURUSD try to break above the resistance. Alternatively, should the