Risk sentiment was up in Monday’s European session despite soft Eurozone inflation data and upcoming risk events all week. Fed Chair Janet Yellen will be speaking later today, the ECB meeting is on Thursday and the all-important US nonfarm payrolls will be released on Friday. Additionally, on Tuesday Japanese data are important as is the […]
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The Latest Forex Trading Articles from the Blog
The euro was boosted by upbeat economic sentiment data from the Eurozone which rose in March to its highest level since July 2011. Prior to this data, the euro fell to its lowest level in three-weeks versus the dollar after a surprise fall in Spanish inflation raised concern of deflation risk in the Eurozone. Gains […]
The dollar was lifted against the yen after US jobless claims for the week ending March 22nd rose by fewer-than-expected to 311,000 versus a previous 321,000. The dollar/yen rate climbed to a high of 102.42 after the data. Weaker-than-forecast US pending home sales numbers capped further gains. Sterling was one of the biggest movers after […]
Major currency pairs were driven by central banker comments, which impacted the euro and sterling, while the aussie was lifted to a 4-month high. The euro was pressured by ECB policy members talk of quantitative easing being a possible monetary policy tool for combatting deflation in the Eurozone. There is some speculation for the ECB […]
The euro came under pressure after disappointing German data as well as comments from European Central Bank governing council member and Bundesbank President Jens Weidmann. The latest data on German Ifo business climate index based on a survey of 7,000 executives, fell to 110.7 in March after increasing to 111.3 the previous month. This caused […]
Major currencies took their direction from fundamental stories on Monday, as markets focused on a series of Purchasing Managers’ Index (PMI) reports from various countries. The euro was weaker against the dollar after being weighed down by disappointing German PMI data. After a brief rally to a European session high of 1.3824 following stronger-than-forecast French […]
Currency markets were relatively quiet on Friday in the absence of major economic data releases. The dollar is set to end the week higher against most majors but gave up some post-FOMC gains. The euro moved further off a two-week low hit on Wednesday to rise higher against the dollar today. Data showing a record […]
Following the seminar on the 8th March and due to popular demand, the XM team returned to Lagos, Nigeria on Monday 17th March to participate in the NYSC orientation camp. This provided a perfect opportunity to invite attendees to enrol in a special 5 week free forex training course. The event proved to be a […]
The Federal Reserve concluded a two-day policy meeting on Wednesday with an announcement that it will taper stimulus by a further $10 billion to $55 billion a month. While this was widely expected by the markets, what came as a surprise were comments by Fed Chair Janet Yellen. During her press conference, Yellen implied that […]
The number of people claiming unemployment benefits in the United Kingdom fell in February by much more than expected. According to data from the Office of National Statistics, the claimant count change was down by 34,600 last month, more than the 25,000 decrease that was forecast, bringing the number of jobless Britons to 1.17 million […]
The underlying trend for EURUSD is up however the pair is due for a short-term correction after a rally to a high of 1.3966 on Thursday. This level was rejected and the pair has since declined. Support is seen at key Fibonacci retracement levels of the upleg from Feb 27 low (1.3642) to the March […]
There has been a subdued start to the new trading week, despite headlines over the weekend that Crimea voted in a referendum to join the Russian Federation. Markets were mixed in Asia on Monday but foreign exchange markets were remarkably calm going into the European session. The usual gauge of risk aversion in forex is […]
Safe haven demand favoured the yen ahead of this weekend’s risk event. The Crimean referendum to secede from Ukraine will be held this Sunday while Western countries are threatening to impose sanction on Russia, which refuses to back down on its plans to annex the Crimean region. Russia has gone ahead with military exercises near […]
The most important event of next week will be the Federal Reserve policy announcement on Wednesday following a two-day meeting. Investors will look out to see if the Fed will scale back its current bond buying program further. The current pace of purchases is at $65 billion a month after the Fed trimmed the original […]
The Reserve Bank of New Zealand delivered a widely expected interest rate hike on Thursday, raising its benchmark cash rate by a quarter of a percentage point to 2.75 percent. The RBNZ takes the lead at exiting from record low interest rates ahead of other major central banks in the developed world, as the United […]
Concerns are growing about China’s growth this year after the nation’s trade balance data for February were released earlier this week, being the latest in a series of poor data releases recently. Manufacturing PMIs have been no better for months. The slowing pace of growth in the world’s second largest economy has taken a toll […]