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Forex Trading MarketThe forex trading week saw European majors and investor confidence roiled by a Greek financial tragedy, mixed fundamental data, and thin liquidity all aiding USD strength. Australia’s 3Q2009 GDP printed 0.2% q/q, half market expectation, and 0.5% y/y. RBA meeting minutes were mixed and hinted of further losses in employment even as 3Q2009 housing starts [...]
Markets shrugged off the Dubai World debt crisis and resumed the bull rally, but the better-than-expected U.S. jobs report changed the game, boosting USD while constraining commodities and their currencies. Gold withdrew from historic highs. The RBA raised interest rates by 25bps to 3.75%. October retail sales rose 0.3% m/m, new home sales declined −0.6%, [...]
The forex trading week was shortened by a U.S. holiday, which withdrew liquidity from the market and intensified price action. It was perhaps not the best time for sovereign debt worries to strike financial markets, as the bullish, risk-happy opening to the week dissolved into a risk-averse sell-off by Friday close. Australia’s 3Q2009 capex worried [...]
Yet another week of consolidation and fidgety investors. Gold hits new historic highs above $1,118 yet EUR/USD cannot hold gains above 1.5000. The Australian economy gained 2.9K fulltime jobs and 21.5K part-time ones, with the October unemployment rate ticking up to 5.8%. October NAB business confidence improved to 16, business conditions to 12, but November [...]
In a light data week, the first intimation from the FOMC regarding withdrawing liquidity supplies from financial markets caused resurgent risk aversion and some USD strength. Commodities and equities weakened, taking the commodity dollars with them, but still not beyond current ranges. Australia’s August new home sales surged 11.4% m/m but September DEWR skilled vacancies [...]
As the most volatile of months for forex trading approaches, many currencies and commodities, including USD, gold, and crude oil, are all trading near significant pivotal levels. Equities markets in China whipsawed at the week’s end, the S&P500 rose to 2009 highs, and global central bankers, including Fed Chairman Bernanke, proclaim the cusp of recovery [...]
With most currency pairs still stuck within summer trading ranges and the forex trading market jittering between risk aversion and normality, a plethora of fundamental announcements this week could shake things up a bit. These event risks include: addthis_url = ‘http%3A%2F%2Fforextradings.com.au%2F2009%2F08%2F12%2Fforex-trading-market-jittering-between-risk-aversion-and-normality%2F’; addthis_title = ‘Forex+trading+market+jittering+between+risk+aversion+and+normality’; addthis_pub = ”;
A pivotal week for long-term forex trading trends, with multiple currency pairs breaking free from summer logjams. The RBA left rates on hold at 3.0%, as expected, and removed the dovish stance from the accompanying statement as the economy added 32.2K jobs, all part-time, and the unemployment rate held at 5.8%. July PMIs printed 44.5 [...]
