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Most currency pairs consolidated within new trading ranges and many of them fell against the U.S. dollar as the global slowdown intensifies. Commodities prices bounced as the credit crisis renewed investors’ risk aversion.
The RBA’s August minutes confirm a probable rate cut of 25bps to 50bps at their next meeting on 2 September. The Westpac-MI June [...]
Historically, Switzerland remained neutral throughout the major European conflicts. This earned Switzerland a place as banker to the world, as even the most loyal industrialists and politicians of the major combatants wanted their money somewhere safe during the fighting, to prevent a catastrophic loss of funds in the event of a catastrophic loss of territory. [...]
Continued declines in prices pushed commodity currencies lower. Conflict between Russia and Georgia increased investor nervousness in Europe, not helped by significantly weaker economic data, prompting exits from European equities and the currency.
The Westpac-MI consumer sentiment rose 9.1% to 86.2 for August and consumer inflation expectations fell to 4.9%, mainly on lowering petrol prices, while [...]
One of the forex trading market’s many variations on continuation, a price channel is formed when a currency pair range-trades between rising or falling support and resistance levels.
A bullish price channel has an uptrend and is defined by its support level, e.g., by drawing a trend line from the lowest low preceding the trend and [...]
The inflation debate and decoupling theory were quietly shelved as global growth fears resumed centre stage. Commodities prices continued to fall and currency pairs left trading ranges established months ago as the forex trading market reset relative values.
As expected, the RBA left interest rates on hold at 7.25%; however, the Governor’s statement was much more [...]
Between November 2007 and February 2008, EUR/USD consolidated within a range between roughly 1.4330 and 1.5000, before breaking through resistance on 27 February and reaching for new highs. Within five weeks, it bounced off resistance at 1.6000 and entered another consolidation range, between that level and 1.5285, where it has remained ever since.
This is best [...]
This forex trading week saw easing commodities prices, particularly crude oil, metals, and foods, and therefore broadly weaker commodities currencies, while risk aversion faded. Most regional economic data confirmed the global slowdown without yet indicating recessionary levels had been reached.
The RBA meets Tuesday 5 August and is widely expected to leave rates on hold at [...]
