 |
Find Out All About Forex Trading
On 24 July, AUD/CAD bounced from support at 0.8800 and initiated a strong uptrend that has pushed the currency pair to touch its historic high at 0.9837, a run of 1,000 pips which restored it to its pre-Lehman strength. However, at this psychologically important level, AUD/CAD is showing signs of taking a consolidating breather.
On the [...]
The forex trading week was short on fundamental data but long on rhetoric and corporate earnings, in a positive-negative mix that kept markets lively.
Westpac August leading index gained 1.1% m/m, import prices were down −3.0% q/q, export prices −9.6% q/q, an improvement over the previous −20.6%. Bullish RBA meeting minutes only helped AUD slightly. AUD/USD [...]
And so the potential double top in EUR/USD (and its correlated currency pair, USD/CHF) appears to have fizzled out, alongside repeated expectations of a U.S. dollar bounce. This returns forex traders to the original call of ongoing USD weakness and possible parity with CHF, with a run on the historic EUR/USD high of 1.6037 not [...]
USD continued to lose ground this forex trading week, as cautious optimism sought risk and rewards, pushing select commodities and equities ever higher. Gold set another historic record at $1070.45, crude oil topped $77/bbl.
Australia’s September NAB business confidence fell slightly to 14, business conditions to 3, while October consumer confidence improved 1.7% m/m. October inflation [...]
The big forex trading news this week is the RBA rate hike. Although only 25bps, from 3.0% previous to 3.25% current, it’s the first amongst the G-20 nations since the global financial crisis began and Governor Stevens didn’t hesitate to mention more can be safely expected.
AUD/USD jumped on the news, rallying almost 140 pips in [...]
Positive glimmers among light data kept traders engaged this forex trading week. Commodities rocked and equities rose on general risk acceptance. Corporate earnings season could well drive markets next week. Several majors set new 2009 highs versus USD and gold set historic highs four days straight.
The RBA astonished markets with a 25bp rate hike, then [...]
The battle between risk acceptance and risk aversion continues, with equities, commodities, and global political rhetoric driving currency movements. General risk aversion returned from disappointing U.S. consumer and employment data.
The RBA meets Tuesday, 6 October, and is expected to maintain rates at 3.0%. August retail sales increased 0.9% m/m, with private sector credit rising merely [...]
