EUR/USD certainly dropped on the shocking result of the EU Referendum. A peak to trough move of over 500 was clearly a big move and seemed proportionate to the 1700 move in GBP/USD. However, since that big night, EUR/USD is trading in a much narrower range. The post-Brexit range is lower than the pre-Brexit one, but remains … “Does EUR/USD need a bank run to break out of range?”
Month: July 2016
Swiss Franc Soft Despite Positive CPI
The Swiss franc was soft today even though inflation data released from Switzerland during the current trading session beat forecasts. The likely reason for the poor performance was the shift in the market sentiment. The Swiss Consumer Price Index rose 0.1% in June, at the same rate as in May. Analysts had predicted the indicator to stay flat. Nevertheless, the Swissie fell as markets calmed down after the Brexit, the sentiment became less negative, and Britain’s … “Swiss Franc Soft Despite Positive CPI”
ThinkForex is now ThinkMarkets – launches proprietary ThinkTrader
Another forex broker expands its reach and this also involves a change in name. ThinkForex rebrands as ThinkMarkets and also offers new software: Here is the official press release: London, July 7th 2016 – ThinkForex, the leading provider of financial derivatives trading, has rebranded to ThinkMarkets and launches ThinkTrader, its own multi-asset trading platform – both … “ThinkForex is now ThinkMarkets – launches proprietary ThinkTrader”
S&P Cuts Australia’s Credit Rating Outlook
The Australian dollar plunged today after Standard & Poor’s had cut the country’s credit rating outlook. The Aussie has bounced later and is now trading close to its opening level. S&P affirmed Australia’s long-term credit grade at AAA but changed the outlook to negative. The agency cited the following reasons for the decision: The negative outlook on Australia reflects our view that without the implementation of more forceful fiscal policy decisions, … “S&P Cuts Australia’s Credit Rating Outlook”
5 Most Predictable Currency Pairs – Q3 2016
Some currency pairs are better than others. What does it mean being better? Many forex traders rely heavily on charts or at least use the basic support, resistance and trend lines. A well behaved and predictable currency will either slow down and retreat upon tackling such a line, or push forcefully through the line. leaving dust behind them. The less … “5 Most Predictable Currency Pairs – Q3 2016”
EUR/USD: Trading the US Nonfarm Payrolls
US Nonfarm Employment Change measures the change in the number of newly employed people in the US, excluding workers in the farming industry. A reading which is higher than the market forecast is bullish for the dollar. Here are the details and 5 possible outcomes for EUR/USD. Update: Non-Farm Payrolls leap 287K – dollar surges … “EUR/USD: Trading the US Nonfarm Payrolls”
So when will the Fed ever hike? 4 opinions
The Fed’s June decision was cautious and also Yellen was dovish. We managed to forget about everything on Brexit. The Fed’s meeting minutes shed some light on the thinking in the FOMC, but what does this mean for a rate hike? Here are 4 opinions: Here is their view, courtesy of eFXnews: FOMC Minutes: A Look … “So when will the Fed ever hike? 4 opinions”
US Dollar Mixed as Good Data Countered by Fed Minutes
The US dollar was mixed during early Thursday’s trading. The currency rose versus the euro, fell against the Japanese yen, and was flat versus the Great Britain pound. Wednesday’s fundamentals were mixed for the dollar. On one hand, US economic data was good, at least the services sector. On the other, the minutes of the Federal Reserve latest policy meeting showed that the Fed is willing to wait to see the impact of the Brexit on the economy: … “US Dollar Mixed as Good Data Countered by Fed Minutes”
Falling Canadian Dollar Gets Help from Crude Oil
The Canadian dollar was falling on Wednesday due to domestic macroeconomic data and the general negative sentiment among Forex market participants. The currency managed to rebound with the help of rising prices for crude oil, though, and is trading not far from the opening level at the start of Thursday’s session. Canada’s trade balance logged a deficit of C$3.3 billion in May. While it was basically unchanged from the April’s level, the reading was worse … “Falling Canadian Dollar Gets Help from Crude Oil”
Under 1.30: what’s next for GBP/USD? Two opinions
GBP/USD broke down below 1.30 but did not go too far after the initial shock. More to come or is it the end of the crash? Don’t Fade GBP Decline Yet; BoE To Trigger Another Sell-Off Next Week – BNPP GBPUSD hit the 1.30 tactical target we established in the immediate aftermath of the referendum, … “Under 1.30: what’s next for GBP/USD? Two opinions”