Forex News

EUR/AUD at Inflection Point

With both the Caixin Services PMI and the Caixin Composite PMI for China coming in worse than expected earlier today, the Australian Dollar was on its heels on most the day.  Combine China’s numbers with a stronger Markit Services and Composite PMIs from many European countries and with the EU as a whole, and we …

Market Brief: Traders Calm Their Middle East Fears

View our guide on how to interpret the FX Dashboard. After opening lower on fears of continued escalation in the tensions between the US and Iran/Iraq, markets calmed down throughout today’s US session with traders reassured by soothing comments from France and China. That said, most analysts still expect retaliation and another proverbial “shoe to drop” …

Yen Demand Subsides And Key Levels Hold (For Now)

Tension in the Middle East have mostly dominated sentiment since Friday. However, the US session saw a mild rebound in risk and equities shrug off concerns with the lack of any further escalation. Going into the session it was noted several yen pairs were at key levels of support, which suggested it could be a …

Daily Forex Technical Strategy (Tues 07 Jan)

GBP/USD – Bounced towards key short-term resistance zone click to enlarge chart The pair has staged the expected bounce towards the intermediate resistance of 1.3235 (minor descending trendline from 13 Dec 2019 high & 61.8% Fibonacci retracement of the prior slide from 31 Dec 2019 high to 03 Jan 2020 low of 1.3053) with the …

Market Brief: US Troops To Remain In Iraq

View our guide on how to interpret the FX Dashboard FX Brief: The US denied reports that they were preparing to remove their troops from Iraq, after an unsigned letter was leaked online suggesting the US were doing just that. The top US general later told reporters the letter was “poorly worded” and that they’re not …

AUD/NZD Considers Bearish Breakout

After a month confined to a range, AUD/NZD could be building up towards another leg lower. The decline from 1.0865 came hard and fast, shedding over -4.4% in five weeks. That there were no pullbacks apparent on the daily timeframe serves as a testament to the strength of its decline. Sure, it’s effectively ranged between 1.0388 …

Weekly COT Report: Sterling Traders Flip To Net-Long

Read our guide on how to interpret the weekly COT report As of Tuesday 24th December 2019: Large speculators reduced net-long exposure to USD by -$3.6 billion and currently stand net-long by $14.5 billion. GBP traders flipped to net-long exposure for the first time since April NZD traders were their least bearish in nine months The …

Market Brief: Mideast Tensions Retain Their Grip On Sentiment

View our guide on how to interpret the FX Dashboard FX Brief: It was gaps galore at market open as tensions in the Middle East escalated over the weekend. The $36 move in gold, re-test of $64 resistance on WTI and gap lower on the S&P futures underscored the negative tone form geopolitics as we kick …

It’s Gap Galore Around Middle East Tensions | Gold, SPX, WTI

Middle East tensions continued to flare over the weekend, resulting in some impressive gaps to further underscore the risk-off start to 2020. In response to the US airstrike which killed two senior pro-Iranian officials, the Iraqi parliament voted to dispel foreign troops, in a move which would make US presence in Iraq an occupation (an …

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