With EUR closing higher on a recovery the past week it looks to strengthen further in the new week. However, we may see a mild pullback before it could push higher again. Support is seen at 1.0750 level with a cut through here opening the door for more downside towards the 1.0700 level. Further down, … “EUR/USD: Biased To The Upside On Correction”
Month: March 2015
A New Phase Of The USD Bull Market; How To
The dollar suffered a blow across the board as Janet Yellen and her colleagues released dovish notes. Some see the beginning of the end for the USD rally, but this is certainly not the only opinion. The team at BNP Paribas discuss the new phase of the USD bull market: Here is their view, courtesy of … “A New Phase Of The USD Bull Market; How To”
Dollar Ends Its Long Stretch of Weekly Gains
The US dollar ended the week as the biggest loser on the Forex market. This followed the long stretch of weekly gains. For example, the greenback was rising for four straight weeks against the euro and the Japanese yen. Yet markets usually do not move in one direction for long, and the continued rally ended at last. The reason for the abysmal performance was the Wednesday’s monetary policy statement from the Federal Reserve. While it was not pessimistic strictly … “Dollar Ends Its Long Stretch of Weekly Gains”
Dollar Broadly Lower During Friday’s Trading
The US dollar was broadly lower during the Friday’s trading session as the positive market sentiment was encouraging traders to take risk and buy assets that are offering higher yield, making the safety of the US currency less appealing. The dollar was seriously hurt on Wednesday by the release of the Federal Reserve’s policy statement. While the Fed dropped the phrase about ‘patience’ as was expected, market participants still considered the statement less hawkish … “Dollar Broadly Lower During Friday’s Trading”
CAD-Crosses Demonstrate Mixed Performance
Today’s economic data from Canada was mixed, resulting in varying performance of different CAD-crosses. The currency gained on the US dollar and the Japanese yen but dropped against the euro. Canada’s retail sales were dismal, falling 1.7 percent in January in the second monthly decrease. On the other hand, the Consumer Price Index rose 0.2 percent in February after three consecutive monthly declines. Outside of Canada, fundamentals were supportive for the nation’s currency … “CAD-Crosses Demonstrate Mixed Performance”
Positive Market Sentiment Results in Yen Sell-Off
The Japanese yen dropped today against its rivals as the market sentiment was improving. While the dollar traded sideways, other currencies rallied at the expense of the yen. There were reports that Greece agreed to come up with a new reform plan to secure the next bailout package. The news alleviated concerns about a potential bankruptcy of the indebted country. Coupled with the positive German’s data, it made traders more willing to risk, … “Positive Market Sentiment Results in Yen Sell-Off”
Grexit chances are still low, but here are 5 points
A full month has passed since Greece and its European partners reached an agreement about a 4 month extension to its loans. Since then, Greece submitted a general list of reforms and negotiations continue. In the latest EU Economic Summit, Greece has been a significant issue, with top level meeting and denials about a Grexit from everybody. This is … “Grexit chances are still low, but here are 5 points”
Most Common 14 Mistakes Unsuccessful Traders Make
From my experiences as a fx fund manager and trading mentor, I collected and wrote 14 most common mistakes unsuccessful traders make. Let′s begin! Guest post by ZAN KOTNIK 1. They think trading is a business where you get rich over the night. With thinking like that they have an extra pressure, they forget on … “Most Common 14 Mistakes Unsuccessful Traders Make”
Pound Steady, Set to Close Week Second Weakest
The Great Britain pound was relatively steady against the dollar today, rising versus the Japanese yen at the same time. Still, the sterling is set to close the week as the second weakest currency following the dollar. Britain’s currency fared relatively well during the current trading session after the release of the UK public sector borrowing data. Yet the pound’s performance over the week was far less successful as the currency lost support from … “Pound Steady, Set to Close Week Second Weakest”
German Data Helps Euro in Currency Trading
German data is once again helping the euro against its major counterparts. As the largest economy in the eurozone, Germany’s direction matters a great deal. With the latest produce prices information rising for the first time in more than a year, Germany is helping urge the euro higher, in spite of its other woes. For the first time in more than a year, PPI for Germany rose month over month. In February, German PPI rose … “German Data Helps Euro in Currency Trading”