The euro was little changed during the Asian trading session today following the huge surge yesterday. The currency has rallied on hopes for a resolution of the Greek crisis and also as inflation returned to the eurozone. Top officials from Europe and the International Monetary Fund were meeting on Monday night in Berlin to discuss the situation in Greece. Among participants of the meeting were German Chancellor Angela Merkel, French President Francois Hollande, European Commission President Jean-Claude … “Euro Little Changed After Big Jump”
Month: June 2015
Pound Rallies After Construction PMI, Struggles to Keep Gains
The Great Britain pound rose today as Britain’s construction Purchasing Managers’ Index climbed last month, exceeding analysts’ expectations. The rally was not big, though, and the currency is struggling to keep its gains. The seasonally adjusted Markit/CIPS UK Construction PMI climbed from 54.2 to 55.9 in May, versus the median forecast of 55.1. The currency had jumped after the report but has retreated afterwards, though the sterling is trying … “Pound Rallies After Construction PMI, Struggles to Keep Gains”
Australian Dollar Moves Higher After RBA Policy Statement
The Australian dollar rallied today following the monetary policy statement from the Reserve Bank of Australia. The central bank did not change its policy, and the statement did not say anything particularly new, but also did not mention a possibility of an additional interest rate cut. The RBA left its main interest rate at 2 percent at today’s meeting, saying: Having eased monetary policy last month, the Board today … “Australian Dollar Moves Higher After RBA Policy Statement”
US Dollar Struggles, Supporting Commodities
US dollar is struggling today, and that is helping commodities as the greenback drops against its major counterparts. Dollar is also lower as Forex traders position themselves for a Greek bailout deal and look to the future. Dollar index is lower today, falling as the greenback drops against most of its major counterparts. The US dollar is struggling today after seeing gains recently. Many Forex traders are consolidating … “US Dollar Struggles, Supporting Commodities”
Does Trading Forex Start with a Risk?
Forex trading is a never-ending process whereby the trader must constantly learn and evolve in order to improve. Ask any trader about their learning experience over the years, and it’s quite possible they would liken it to the journey wherein you know where you want to go but you’re constantly on the lookout for the … “Does Trading Forex Start with a Risk?”
AUD/USD: Trading the Australian GDP Jun 2015
Australian GDP is the primary gauge of the production and growth of the economy. It is considered by analysts as one the most important indicators of economic activity, and a reading which is higher than expected is bullish for the Australian dollar. Here are all the details, and 5 possible outcomes for AUD/USD. Published on Wednesday at … “AUD/USD: Trading the Australian GDP Jun 2015”
EUR Slides vs. USD, Fares Better vs. Other Majors
The euro slipped against the US dollar today as talks between Greece and its creditors reached a stalemate and an exit of the indebted country from the eurozone does not look impossible as a result. Yet today’s economic data from Europe was good, allowing the currency to pare losses against other majors, like the Great Britain pound and the Japanese yen. Greece is running out of money while it needs to repay â¬305 million … “EUR Slides vs. USD, Fares Better vs. Other Majors”
USDCHF: Pulls Back, Loses Upside Momentum
USDCHF: Price weakness saw USDCHF declining the past week with risk of more weakness on the cards. Resistance resides at the 0.9500 level with a breach targeting the 0.9550 level. A breather may occur here and turn the pair lower but if taken out, expect a push higher towards the 0.9600 level. Conversely, on the … “USDCHF: Pulls Back, Loses Upside Momentum”
GBP/USD: Trading the UK Construction PMI June 1 2015
British Construction PMI Index is based on a survey of Purchasing Managers in the construction industry. The survey includes about 170 respondents, who are surveyed for their view of a wide range of business conditions, including employment, new orders, prices and inventories. A reading which is higher than the market forecast is bullish for the … “GBP/USD: Trading the UK Construction PMI June 1 2015”
USD/JPY: Buy Nearest Dip; EUR/USD: Sell Against Neckline –
Two interesting technical patterns are emerging on the major pairs. The team at Credit Suisse details on EUR/USD and USD/JPY: Here is their view, courtesy of eFXnews: USD/JPY manages to sustains its early strength around 124.16, the 2007 peak, notes Credit Suisse. “While 123.48/33 holds, the immediate risk should stay higher for a clear break … “USD/JPY: Buy Nearest Dip; EUR/USD: Sell Against Neckline –”