Today, trading is lighter than usual due to a holiday in the United States. But this does not mean that the Forex market was quiet. Traders were focusing on the OPEC meeting, and it certainly affected the market. The Canadian dollar together with other oil-related currencies sank after the gathering. The Organization of Petroleum Exporting Countries held a meeting in Vienna today. Analysts were speculating ahead of the event that the organization might … “Canadian Dollar Sinks After OPEC Meeting”
Month: November 2014
ECB tentatively edges closer to QE in 2015; more EUR
The characterisation of Europe as “elderly and haggard” by Pope Francis is an accurate one, but on December 4 the European Central Bank could lay the groundwork to try and revitalise the region’s sagging economy. If was down to European Central Bank President Mario Draghi, the Eurozone would already be on the receiving end of … “ECB tentatively edges closer to QE in 2015; more EUR”
‘Double-Up Profit’ campaign announced by Orbex
Cyprus based forex broker Orbex offers its traders a give away of $165,000 in cash with a new campaign called “Double-Up Profit”. Here are all the details from the press release: Cyprus 26th November, 2014 Forex Broker Orbex released the figures of their campaign giveaway earlier this month, demonstrating a profitable and successful trading campaign … “‘Double-Up Profit’ campaign announced by Orbex”
EUR/USD: Double Bottom; Cable: Consolidation – RBS
An interesting pattern is seen on the euro/dollar chart, with the pair trading above a double bottom line. What does this mean for the next moves for the pair? The team at RBS also examine GBP/USD in the analysis below: Here is their view, courtesy of eFXnews: The EUR/USD has been trading comforably above a … “EUR/USD: Double Bottom; Cable: Consolidation – RBS”
Taiwan Dollar Joins Yen in Rally
The Taiwan dollar rose a little today, trading near the highest level in one week. The currency advanced as the Japanese yen rallied and the US dollar retreated, potentially helping nation’s exports. The stronger yen should benefit Taiwanese exporters, making their Japanese rivals less competitive. The yen rallied following yesterday’s speech from Bank of Japan Governor Haruhiko Kuroda and disappointing macroeconomic data from the United States. Experts believe that … “Taiwan Dollar Joins Yen in Rally”
EURUSD: Eyes Builds Up Recovery Tone
EURUSD: With EUR continuing to eye further upside, price extension is likely in the days ahead. On the upside, resistance lies at the 1.2550 level where a break will aim at the 1.2550 level, its psycho level followed by the 1.2600 level. Further out, resistance comes in at the 1.2650 level. On the downside, support … “EURUSD: Eyes Builds Up Recovery Tone”
Brazilian Real Gains on Hopes for New Finance Minister
The Brazilian real advanced today on hopes that the former Treasury Secretary Joaquim Levy will become the new finance minister and will help the country to deal with the current economic problems. There are rumors that President Dilma Rousseff will accept Joaquim as the new finance chief. Previously, the real was falling as the President refrained from announcing a person will take the minister seat. Brazil desperately needs a financial professional … “Brazilian Real Gains on Hopes for New Finance Minister”
EUR/USD: Sell At 21d MA; USD/JPY: Buy At Key Support
Both euro/dollar and dollar/yen have gone against the favor of the US dollar in recent trade. The team at Credit Suisse sees here opportunities to take the other side, and provide clear entry points: Here is their view, courtesy of eFXnews: EUR/USD came within a whisker of the 1.2358 recent low on Monday, which attracted some … “EUR/USD: Sell At 21d MA; USD/JPY: Buy At Key Support”
USD/JPY: Trading the US New Home Sales Nov 2014
US New Home Sales indicator is released monthly, and provides analysts with important data on the health of the housing sector. A higher reading than the market prediction is bullish for the dollar. Update: US housing data misses – Dollar down Here are all the details, and 5 possible outcomes for USD/JPY. Published on Wednesday at … “USD/JPY: Trading the US New Home Sales Nov 2014”
Aussie Rises During Abbreviated Trading
The Australian dollar rallied today even as central bank’s officials continued to complain about the excessive strength of the currency. The Aussie was down during two previous trading sessions. Today’s trading may be choppy because of light volume due to a holiday in the United States. Philip Lowe, Reserve Bank of Australia Deputy Governor, was speaking at the Annual Australian Business Economists Conference dinner in Sydney today. He said regarding the strength … “Aussie Rises During Abbreviated Trading”