In the weekly video outlook on Forex TV, I spoke with Julie Sinah about range trading currencies, the economic indicators and expected breakouts. Enjoy! Want to see what other traders are doing in real accounts? Check out Currensee. It’s free. Get the 5 most predictable currency pairs
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Canada’s Dollar Gains on National Commodities
The Canadian dollar traded high versus its U.S. counterpart and several other key-currencies in foreign-exchange markets as its main commodity export, the crude oil, rose again allowing the loonie to start this week advancing. The Canadian dollar, nicknamed the loonie for the image of the waterfowl on the C$1 coin, continued following last week’s trend and touched the highest level in seven weeks versus its U.S. counterpart, and also trading near the highest level in 2010 … “Canada’s Dollar Gains on National Commodities”
Papandreou Comments Force Euro Down
The euro had just started the week gaining versus the dollar and the yen as the negative sentiment regarding the Greek crisis slowly fades, but after comments coming from Greece that the fiscal crisis in the country may spread to other countries, the EU’s single currency went down again. It seems that markets still didn’t digest the Greek fiscal crisis and the euro is once again falling after events happening in the most … “Papandreou Comments Force Euro Down”
AUD/USD Breaking to Higher Ground
The market took its time to digest last week’s good Australian news, but now it finally made the break above the stubborn resistance line. Update on this strong currency. AUD/USD finally broke above the stubborn resistance line of 0.9090 for the first time after 6 weeks. The pair currently trades at 0.9130, settling above the … “AUD/USD Breaking to Higher Ground”
NFP Updates
Earlier in the week, I’ve written a Nonfarm Payrolls preview in which I explained how the low expectations from the outcome serve the US dollar. The low expectations now became lower. Here are some updates about expectations, ways to follow the event and possible ways to trade it. During the week, the expectations for a loss … “NFP Updates”
Zloty Hits Record High on Rate Talks
The Polish zloty is facing a scenario different from its neighboring currencies in the Baltics, central Europe and the euro as interest rates may rise in the following months to control the country’s growing inflation, helping the zloty to climb in forex markets this Thursday. After a Polish government official stated that interest rates may be hiked in the second half of this year to prevent inflation to grow beyond the nation’s targets, the zloty reached the highest … “Zloty Hits Record High on Rate Talks”
Bank of England’s Decisions Affect Pound’s Performance
The pound remained bearish this week as market sentiment towards assets in the U.K. didn’t manage to improve, after interest rates remained at a record low in the country, according to what most analysts expected to happen for today’s decisions. After interest rates were maintained at 0.5 percent by the Bank of England this Thursday, the pound didn’t manage to revert a negative trend versus most of its main trading partners currencies, as the economic scenario overseas … “Bank of England’s Decisions Affect Pound’s Performance”
Euro Ends Rally on ECB Extended Stimulus
The European single currency posted its first day of decline versus the greenback this week after the regional financial regulator affirmed that some of its stimulus to help the economy to recover will last for as long as they are necessary, declining optimism towards the Eurozone. It wasn’t a surprise that interest rates remained unchanged today in the Eurozone at a record low of 1 percent, but a comment made by European Central Bank President … “Euro Ends Rally on ECB Extended Stimulus”
Is The Greek Crisis Coming to an End?
The euro profited today after Greece announced several measures to tighten its massive budget deficit, allowing the confidence towards the Eurozone and making the euro to rank among the best performers in currency markets today. The European single currency continued to advance versus the U.S. dollar as the Greek government said it will raise taxes, and cut spending to tighten its budget deficits, allowing the market sentiment towards assets in the country and in the Euroland to improve … “Is The Greek Crisis Coming to an End?”
Swedish Krona Down on Eurozone Optimism
The Swedish krona fell for another day this Wednesday as optimism in the Eurozone and negative releases in the Nordic country declined attractiveness regionally for assets in Sweden. The krona is very likely to end this week posting a drop versus important currencies in Europe after a report in the country showed that Sweden is again having to deal with a recession, declining the odds that interest rates will be hiked in the country anytime soon. The krona … “Swedish Krona Down on Eurozone Optimism”