Forex News

GBP/USD Volatility Depends on Johnson’s Health

As countries seem to have done nearly all they can to stop the spread of the coronavirus and its economic fallout, traders sit and wait. They wait for the number of daily new infected cases and they wait for the daily new number of deaths.  If these numbers are decreasing, traders begin to expect a …

USD/MXN and Other EM Currencies may be Topping

Mexican President AMLO has been slow to pull the trigger on a large stimulus plan as many other countries have done.  However, on Sunday he established a public works program to help the poor and to create jobs. In addition, he created a program to provide low interest rates loans to boost small businesses and …

RBA Interest Rate Decision should be Quiet Event

During the upcoming Asian session, the Reserve Bank of Australia (RBA) will be holding its regularly scheduled Interest Rate Decision meeting.  However, there is unlikely to be any fireworks from the meeting or the accompanying statement.  On March 3rd, the RBA was expected to leave rates on hold as the coronavirus was just beginning to …

NFP Data was BAD, but the Worst is Yet to Come

Nonfarm Payrolls (NFP) released today was -701,000 vs an expectation of -100,000 and a revised +275,000 in February. Although this reading is MUCH worse than expected, April’s reading is going to be worse.  The data collected for this reading was collected up until March 12th, which is before state lockdowns went into effect.  As we …

OIL MARKET WEEK AHEAD: OPEC and Russia Back at the Negotiating Table

It has been a long time coming, but on Monday OPEC and Russia will finally start discussing how to balance out falling oil prices. The evaporating demand caused by the coronavirus was further exacerbated by Russia and Saudi Arabia’s spat over production levels eventually leading to a 60% drop in prices this year. Despite its …

USD/SEK: Will Sweden’s “Herd Immunity” Strategy Backfire?

Across the globe, different countries are taking different approaches to managing their own experiences with the COVID-19 pandemic, running the gamut from the aggressive testing and medical intervention of South Korea to the UK’s brief experiment with continuing “business as usual” in an effort to accelerate “herd immunity.” Of course, the UK quickly abandoned its …

EUR/JPY Offers Volatility, Without Much USD Correlation

Since February 20th, when the S&P 500 began selling off from its all-time highs, EUR/JPY has been trading in a volatile trading range between 116.12 and 121.40.  However, over the last 4 trading days, the pair has traded lower from 121.08 to today’s lows near 116.96, down almost 1.5% today alone.  Support doesn’t come in …

US Initial Claims – Is It Possible to be Higher than Last Week?

Last week, US Initial Claims were 3,283,000 vs an expectation of 1,500,000.  It was the largest initial claims weekly filing in US history and something I’d imagine no one ever thought they would see in their lifetime.  Later today, at 8:30am ET, the US will release Initial Claims for the Week ending March 28th. The …

Is There a Better Currency to Trade vs GBP than USD?

In our most recent “Week Ahead” we highlighted daily GBP/USD chart as our Chart of the Week.  We discussed hot the 61.8% retracement level from the March 9th highs to the March 20th lows at 1.2510 was initial resistance.  The pair still has yet to break above; however, the pair may just be consolidating before …

1 2 3 4 92 93