Euro is struggling today as risk aversion sets in. Stocks are plunging in the wake of the latest Chinese data and that is bringing down high beta currencies like the euro in Forex trading. The latest manufacturing data out of China was disappointing, causing the stock market to drop dramatically. In fact, the drop was so dramatic that China suspended trading, as a new system to trigger trade halts was put into … “Euro Struggles as Stocks Drop on Risk Aversion”
Month: January 2016
Great Britain Pound Holds onto Gains vs. Dollar, Lower vs. Yen
The Great Britain pound lost some of its gains against the US dollar today, though not all of them, after the UK manufacturing index came out lower than market expectations. The sterling was falling against other major peers, including the Japanese yen. The Markit/CIPS UK Manufacturing PMI ticked lower from 52.5 in November to 51.9 in December compared to the median forecast of 52.8. Other economic indicators released during … “Great Britain Pound Holds onto Gains vs. Dollar, Lower vs. Yen”
Year Starts with Risk Aversion, Yen Profits
The year has started with the risk aversion theme that should have been helping the currencies that are traditionally considered to be safe, like the Japanese yen and the Swiss franc. And while the franc is struggling, the yen did indeed was rising. The major piece of news today was the continuing deterioration of the Chinese manufacturing sector. The Caixin China General Manufacturing PMI fell from 48.6 in November to 48.2 in December, indicating … “Year Starts with Risk Aversion, Yen Profits”
EUR/USD – Trading the Eurozone CPI Flash Estimate
Eurozone CPI Flash Estimate is an inflation index which measures the change in the price of goods and services charged to consumers. A reading which is higher than the market forecast is bullish for the euro. Here are all the details, and 5 possible outcomes for EUR/USD. Published on Tuesday at 10:00 GMT. Indicator Background … “EUR/USD – Trading the Eurozone CPI Flash Estimate”
EUR/USD: Get Ready For ‘Groundhog Day’ – Barclays
Risk-off sentiment boosts the euro at the very wake of 2016, but this is only the beginning of a year that may, well, repeat itself. Here are some thoughts from Barclays: Here is their view, courtesy of eFXnews: The FX market will likely start 2016 with a strong sense of deja vu, as many themes from last … “EUR/USD: Get Ready For ‘Groundhog Day’ – Barclays”
USDCHF Rallied On Bullish Offensive With Eyes On 1.0100
USDCHF: Having USDCHF rallied on bullish offensive the past week to reverse its previous week losses, it eyes further strength in the new week. On the downside, support lies at the 0.9950 level. A turn below here will open the door for more weakness towards the 1.9900 level and then the 0.9850 level. Further down, … “USDCHF Rallied On Bullish Offensive With Eyes On 1.0100”
Forex Crunch Key Metrics – 8 million page views in
Forex Crunch enjoyed a rise of around 80% in unique visitors and 30% in page views in comparison to 2014, which is quite nice. Thank you to all 1.6 million visitors and 8 million page views that the site enjoyed in 2015. Looking at the last month of 2015 had two halves: a strong beginning ahead of … “Forex Crunch Key Metrics – 8 million page views in”
EURUSD Bear Pressure Builds Up On 1.0795 Level
EURUSD: With a reversal of almost all of its previous week seen the past week, EURUSD bear pressure builds up on 1.0795 level. On the down, support is located at the 1.0795 level and if violated, expect more weakness to happen towards the 1.0750 level. Further down, support lies at the 1.0700 level where a … “EURUSD Bear Pressure Builds Up On 1.0795 Level”
Top 3 FX Trades For 2016 – SocGen
2016 is here: there’s no time for hangovers and markets are in full swing. Here are the top 3 trades of the year from SocGen: Here is their view, courtesy of eFXnews: “My top 3 G10FX trades in 2016: The first is short GBP/JPY, on valuation and Brexit risks though Monday will be more about UK … “Top 3 FX Trades For 2016 – SocGen”
GBPJPY Faces Downside Pressure On Continued Bearishness
GBPJPY: Having continued to maintain its broader weakness, GBPJPY faces downside pressure on continued bearishness. This view remains valid as long as the cross trades holds below its key resistance zone at 180.22/82. On the downside, support comes in at the 176.00 level where a violation will aim at the 175.00 level. A break below … “GBPJPY Faces Downside Pressure On Continued Bearishness”