The US Dollar Index, a currency weighted index has enjoyed its bullish rally since May gaining momentum ever since. The Dollar Index however is currently at 84.27 which incidentally happen to be a key resistance level in the past and showing signs of weakness already. The resistance level previously saw some heavy selling with the … “US Dollar Index at critical resistance, posing downside risks”
Month: September 2014
Interest Rate Hike Bets Continue to Support Dollar
The US dollar continued to move upward with the help of speculations about an eventual increase of interest rates by the Federal Reserve. The greenback reached the strongest rate in six years versus the Japanese yen. Surprisingly enough, the currency dipped versus the Great Britain pound, which was unexpectedly strong at today’s trading session. Forex market participants continue to speculate about possible timing of Fed’s interest rate hike. The general consensus is that … “Interest Rate Hike Bets Continue to Support Dollar”
Scotland Referendum: what the betting odds imply for GBP/USD
GBP/USD is shaking, rattling and rolling on any news related to Scotland. BOE Governor Mark Carney, who was previously the king of pound volatility, only has a temporary impact, despite some interesting statements. Pound trading is dominated by headlines regarding the referendum on Scottish independence, due on September 18th. As Brits are certainly fond of betting, … “Scotland Referendum: what the betting odds imply for GBP/USD”
MetaTrader 5 users can now use the Borsa Istanbul
MetaQuotes, the company behind MetaTrader 5, has announced the integration of MetaTrader 5 trading platform with Borsa Istanbul. All the details are in the press release below: We are pleased to announce the integration of MetaTrader 5 trading platform with Borsa Istanbul. With the release of the updated MetaTrader 5 Gateway to Borsa Istanbul, brokers and … “MetaTrader 5 users can now use the Borsa Istanbul”
USD/JPY continues higher – what are the next levels?
Dollar/yen is trading at a near 6 year high above 106.70, taking only small breaks on its relentless road higher. What are the next levels to watch out for? To answer the question, we need to look back at levels last seen in 2007 and 2008, when the yen served as the funding currency for carry … “USD/JPY continues higher – what are the next levels?”
NZ Dollar Weaker Ahead of RBNZ Meeting
The New Zealand dollar fell against its US counterpart today, declining for a third day in a row and touching the lowest level in seven months, ahead of tomorrow’s monetary policy announcement from the nation’s central bank. The currency also retreated versus the euro. The Reserve Bank of New Zealand will release its monetary policy statement tomorrow at an early Asian session. Economists expect that the RBNZ will refrain from raising interest … “NZ Dollar Weaker Ahead of RBNZ Meeting”
AUD/USD: Trading the Australian jobs Sep 2014
Australian Employment Change, which is released monthly, provides a snapshot of the health of the Australian labor market. A reading which is higher than the market forecast is bullish for the Australian dollar. Here are the details and 5 possible outcomes for AUD/USD. Published on Thursday at 1:30 GMT. Indicator Background Job creation is one … “AUD/USD: Trading the Australian jobs Sep 2014”
Australian Dollar Makes Way Lower with Consumer Sentiment
The Australian dollar declined today, falling for a third consecutive session versus its US peer, after the release of the Westpac — Melbourne Institute Survey of Consumer Sentiment that demonstrated decline of consumer confidence in Australia. The Westpac — Melbourne Institute Index of Consumer Sentiment fell by 4.6 percent in September from August. Westpac’s Chief Economist Bill Evans commented on the reading: This is a surprising and disappointing result. He added: In effect most of the steady … “Australian Dollar Makes Way Lower with Consumer Sentiment”
Aussie Sharply Lower After Dismal Consumer Sentiment Number
The Aussie traded sharply lower against the U.S. Dollar today after the release of the Westpac Consumer Sentiment Index, which came out printing at -4.6% versus a previous reading of +3.8%. The index showed Australian consumers were less likely to increase purchases, consequently weakening the Australian economy. The Australian Dollar was off -0.72 percent against … “Aussie Sharply Lower After Dismal Consumer Sentiment Number”
Euro Takes a Breather, Holding Above Lows
Forex traders took a step back from a recent euro selloff, helping the 18-nation currency find support above the 1.29 level. While there is greater mid-term to long-term demand for the greenback, right now the euro is looking for a bit of relief. Following remarks from ECB officials and others that are supportive of further easing for the euro, the 18-nation currency sold off. Today, the euro is taking a breather, holding above … “Euro Takes a Breather, Holding Above Lows”