The Great Britain pound was somewhat vulnerable today, losing to the euro and falling versus the Japanese yen a bit. At the same time, the sterling managed to rally against the US dollar that has been in retreat during the Monday’s trading session. With concerns about China’s growth and the continuing decline of crude oil prices that affects inflation negatively, traders started to question if the Bank of England will be able to raise interest … “Great Britain Pound Vulnerable, Manages to Beat US Dollar”
Month: July 2015
Yen Mixed During Monday’s Trading
The Japanese yen demonstrated mixed performance today. The currency gained on the US dollar, fell versus the euro and was flat against the Great Britain pound after rallying earlier. Hiroshi Nakaso, Bank of Japan Deputy Governor, talked today about the possible negative impact of China’s slowdown on Japan’s economy, saying: Even if China’s economy maintained its growth rate, the main contribution would be from public investment, so … “Yen Mixed During Monday’s Trading”
Two Important Events for Dollar Bulls to Watch During This Week
The US dollar has been in a consolidation mode in July, but this pattern may change as couple of important reports is scheduled for this week. Perhaps the most important event in the near future will be the monetary policy meeting of the Federal Reserve. It will start tomorrow and the outcome will be announced the day after. While there is basically no change for an interest rate hike during the coming gathering, market … “Two Important Events for Dollar Bulls to Watch During This Week”
Loonie Struggles Against Major Currencies on GDP, Oil
Canadian dollar is once against struggling overall against its major counterparts. While the loonie is managing gains against the greenback right now, it is having a more difficult time against other major currencies. Oil prices are once again causing problems for the Canadian dollar. Oil is down again today, falling below $48 per barrel. With the Canadian economy relying heavily on oil for its … “Loonie Struggles Against Major Currencies on GDP, Oil”
Greenback Drops as Traders Position Themselves Ahead of FOMC
Later this week, the Fed will meet to talk about interest rate policy. Forex traders are positioning themselves ahead of the meeting, and the greenback is losing ground as a result. A stronger dollar might be in the offing, however, as expectations for a rate increase during September increase. The US dollar is heading lower today as traders consider the future, and prepare for the Federal Reserve policy meeting later this week. Forex traders will … “Greenback Drops as Traders Position Themselves Ahead of FOMC”
Euro Rallies as German Business Climate Improves
The euro rallied today after the release of the German business climate index that was better than analysts’ expectations, suggesting that things have improved in the eurozone after the seemingly successful resolution of the Greek crisis. The Ifo Business Climate Index for Germany rose to 108.0 in July from 107.5 in June. The report noted that the positive developments in the situation surrounding Greece contributed to the improvement of the sentiment: The recent easing of the Greece situation contributed to stronger … “Euro Rallies as German Business Climate Improves”
Chinese Yuan Resilient in Face of Stock Market Crash
The Chinese yuan was rather resilient today, surprisingly so considering that the news from China fueled concerns about slowdown of nation’s economic growth. Yet the currency did not move far from the opening level despite that. It looks like attempts of the Chinese authorities to support China’s stock market were in vain as the Shanghai Stock Exchange Composite Index crashed more than 8 percent during the early … “Chinese Yuan Resilient in Face of Stock Market Crash”
GBP/USD: Trading the British Preliminary GDP Jul 2015
British Preliminary GDP, one of the most important economic releases, is published each quarter. GDP measures production and growth of the economy, and is considered by analysts as one the most important indicators of economic activity. A reading which is better than the market forecast is bullish for the pound. Here are all the details, … “GBP/USD: Trading the British Preliminary GDP Jul 2015”
GBPNZD Breakout Trade Idea – Inside Day on Critical
Friday’s trading session had pretty low volatility across the board, especially quiet for the GBPNZD cross pair. The daily chart stalled and churned about a critical level for this well established up trend. The daily candle closed as an inside day which we could use to capture breakouts. Price is sitting on a bullish ‘hot … “GBPNZD Breakout Trade Idea – Inside Day on Critical”
GBPUSD Candlestick Reversal Signal Off Resistance – 4
One of the War Room members spotted this setup and I thought I would share it. The 4 hour chart on the GBPUSD shows a clear resistance level which price has failed to push through on 3 attempts. The last test of this resistance caused a strong reaction by the bulls, heavily rejecting higher prices … “GBPUSD Candlestick Reversal Signal Off Resistance – 4”