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”
Category: Opinions
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”
EUR/GBP Enjoys Pound Collapse
EUR/GBP enjoyed the Pound’s collapse to break one technical barrier and bounce off the next one. Update on this interesting cross. The British Pound began the week with a big collapse: GBP/USD fell below 1.50 and bounced off the support line at 1.4770. This collapse was also felt in the Euro. EUR/USD also had a … “EUR/GBP Enjoys Pound Collapse”
Aussie Rides the Rate Hike
The Australian dollar enjoyed the rate hike and approached a technical resistance line. A break of this line depends mostly on the upcoming GDP. Update on technicals and fundamentals of this strong currency. The Reserve Bank of Australia lifted the interest rate for the fourth time since the outbreak of the financial crisis. Australia’s Cash … “Aussie Rides the Rate Hike”
CAD Overcomes Dollar Storm On Strong Economy
USD/CAD is now falling and approaching an important resistance line. This happens as the US dollar is strong, with traders focusing on the collapse of the Pound. The loonie has reasons to rise – a strong economy that is accelerating. The pair is now facing a test: The dollar is storming through the markets. This … “CAD Overcomes Dollar Storm On Strong Economy”
How a Jobless Recovery Looks in Forex – Non-Farm
The US economy is growing, but without a gain in jobs. A loss of jobs will also be seen in the upcoming Non-Farm Payrolls release on March 5th. How will this impact forex trading? Here’s a preview. On one hand, the American economy is growing nicely. I had doubts about the first release that showed … “How a Jobless Recovery Looks in Forex – Non-Farm”
The King Wants and Gets a Weak Pound
Mervyn King continues to dominate the Pound’s agenda, and not in a positive way. His big hints about more QE pound the pound as it makes another attempt to break the support line. The governor of the Bank of England, Mervyn King, hurt the Pound once again. In his appearance in parliament, the agenda was … “The King Wants and Gets a Weak Pound”
Video Weekly Outlook
On the weekly interview on Forex TV with Julie Sinha, I spoke about the market’s mood in the upcoming week, calendar events to watch, the bearish and the bullish pairs and the possible breakouts. Enjoy! The kiwi dollar is expecting an interesting week, with important quarterly releases. Also the Swissy awaits interesting events, but they … “Video Weekly Outlook”
Fed Mini-Hike – Which Currencies Are More Vulnerable
Ben Bernanke surprised everybody with a hike of the Fed’s discount rate. The response was immediate and shook all the markets. Some currencies weathered the storm, while others are at critical spots. Here’s a quick damage control. The Federal Reserve only raised the special discount rates for banks, and said that businesses and households won’t … “Fed Mini-Hike – Which Currencies Are More Vulnerable”
British Employment – A Bitter Disappointment for the Pound
The turnaround in the British job market is in doubt, similar to the economy’s growth. The number of unemployed Brits leaped, hurting the Pound’s cautious recovery. Let’s see the numbers: British Claimant Count Change, which is an early and important indicator of employment, showed a big rise in the number of unemployed people – 23,400. … “British Employment – A Bitter Disappointment for the Pound”