GBPUSD: Having extended its weakness triggered off the 1.6917 level during Wednesday’s trading session today, the risk remains lower. It was seen testing its key support at the 1.6730 level, its May 15 2014 low as at the time of this analysis. On further downside, support comes in at the 1.6700 level where a breach … “GBPUSD: Bearish, Tests Key Support”
Month: May 2014
Yen Jumps, Defying Analysts
The Japanese yen jumped today even though analysts speculated that the currency should fall because both technical and fundamental indicators provide no support for a rally. Fundamental analysts argue that there are no specific reasons for the yen to rise. Calming of the situation in Ukraine, signs of economic growth in the United States and hopes for China’s government to stimulate growth of the Chinese economy — all these factors switched the Forex market in the risk-on mode, … “Yen Jumps, Defying Analysts”
Dollar Carves Out Gains with Help from Interest Rates Speculations
The US dollar edged higher today even without any important economic releases from the United States. The currency is supported by speculations about a possible interest rate hike from the Federal Reserve this year. The greenback was not able to outperform the Japanese yen. The dollar resumed its rally yesterday and was able to keep the upward momentum on today’s trading session. Atlanta Fed President Dennis Lockhart said yesterday: … “Dollar Carves Out Gains with Help from Interest Rates Speculations”
Euro Finds Three Month Low, Expected to Slide Further
Euro continues to struggle in Forex trading, with the 18-nation currency hitting a new three month low against the US dollar. The euro has slipped below the 1.3600 level against the US dollar today, even though it has battled back above that mark now, and there are expectations of a deeper slide after next week’s ECB policy meeting. For the last few weeks, European policymakers, particularly ECB President … “Euro Finds Three Month Low, Expected to Slide Further”
Loonie Trades Flat Against the Greenback
The Canadian dollar is trading flat against the US dollar today, but it is gaining some ground against its counterparts in Europe. Many traders expect reasonably good news out of Canada later this week, and this is helping the loonie in Forex trading. Many Forex traders are looking ahead to data releases later this week. There are expectations for a slight month over month increase … “Loonie Trades Flat Against the Greenback”
Aussie’s Rally Fails as Australia’s Leading Index Drops
The Australian dollar dropped today, paring its short-lived rally, as the nation’s leading indicators fell, suggesting that Australia’s economic recovery has not yet gained firm footing. Not all today’s economic data was bad though. The Westpac-Melbourne Institute Leading Index of Economic Activity fell to -1.16 percent in April from +0.03 percent in March. The report said: This is a sharply weaker reading that points to a significant … “Aussie’s Rally Fails as Australia’s Leading Index Drops”
China’s Growth Loses Momentum, Yuan Slips
The Chinese yuan fell today, demonstrating the biggest drop since March, as the nation’s central bank set the daily fixing lowest since September due to concerns about slowing economic growth. Peopleâs Bank of China Governor Zhou Xiaochuan said this week that the Chinese economy is in a rare and complicated situation. Economic data gave evidences of slowing growth momentum as industrial profits increased 9.6 percent in April, compared to 10.7 … “China’s Growth Loses Momentum, Yuan Slips”
NetStation announced by NetDania and CFH Clearing
NetStation is a new white label FX platform that was born out of a collaboration between popular charting and news provider NetDania and CFH Clearing. NetDania recently introduced a Charting Application on the Tradable App Store. For more about NetStation, here is the official press release: CFH Clearing and NetDania Markets, the trading technology subsidiary of NetDania, … “NetStation announced by NetDania and CFH Clearing”
FXStreet goes premium with FXBeat
FXBeat, the quick and fun forex services that features Jamie Coleman, Gerry Davies, Matt Bacon-Hall and Peter Fell is becoming a premium and white label service. FXStreet launched the site back in October and is now announcing a change in the business model. Will other sites and/or services switch to this model? For more details, here … “FXStreet goes premium with FXBeat”
EURGBP- Threatens Further Upside On Correction
EURGBP- With the cross closing marginally higher on Monday and triggering further upside during Tuesday trading today, it faces the risk of additionally recovery higher in the days ahead. Immediate resistance lies at the 0.8126 level followed by the 0.8195 level where a violation if seen will turn focus to the 0.8250 level. On further … “EURGBP- Threatens Further Upside On Correction”