Forex News

Aussie and Kiwi Post Shooting Stars Ahead of Key Chinese Data

Both the AUD/USD and the NZD/USD put in shooting star candlestick formations on daily timeframes ahead of key Chinese Data due out later: AUD/USD Source: Tradingview, FOREX.com NZD/USD Source: Tradingview, FOREX.com Shooting Star candlestick formations are indicative of a reversal of trend when at a topping formation.  Early in the day, buyers come in and …

US-China Trade Deal FINALLY Here!!!

Today is the day the United States and China have been preparing for…the day the two countries sign “Phase One” of the US-China trade deal.  President Trump and the China lead negotiator for the deal, Liu He, will meet in Washington today to formally sign the deal.  The markets already know what Phase One is …

Happy 5 Year Anniversary to SNB Peg Removal!

As soon as China was removed from the list of currency manipulators earlier this week, Switzerland was added.  Strength in EUR/CHF has always been a big problem for the SNB.  Recall exactly 5 years ago today,  January 15th, 2015, when the Swiss National Bank (SNB) removed the Swiss Franc peg to the Euro and allowed …

Weak US CPI Data Continues; Decision Time for DXY

According to the Federal Reserve Bank of Chicago,  the US Federal Reserve’s Federal Open Market Committee (FOMC) sets US monetary policy.  The FOMC has a dual mandate: maintain Price Stability and Maximum Sustainable Employment.  Most recently, US jobs data was released for the month of December.  Data showed that the Unemployment Rate for December was …

EUR/CHF Hits a Nearly 3-Year Low as SNB Intervention Odds Fall

“Don’t fight in the North or the South. Fight every battle everywhere, always, in your mind. Everyone is your enemy, everyone is your friend.” – Petyr Baelish, Game of Thrones As many of us recall, the ending of the HBO’s wildly popular Game of Thrones was panned for nonsensical plot points and dialogue, including Littlefinger’s …

USD/CNH: Waving the All-Clear Flag?

From a geopolitical perspective, this week’s biggest event is the planned signing of the Phase One” trade deal between the US and China, scheduled for Wednesday’s US session. The market has cheered the recent progress toward an initial deal, especially as it deterred further tariffs between the two countries, but readers would be wise to …

USD/JPY break out spells trouble for gold

The USD/JPY looks very interesting as the new week begins. It has hit a new high for 2020 despite Friday’s disappointing US jobs report, with the yen also weakening amid ongoing risk-on sentiment as investors anticipate the signing of the much-touted phase one trade deal between the US and China on Wednesday. If the price …

Market Brief: Double Whammy for Pound

Market update at 12:20 GMT: In FX GBP was by far the weakest, with EUR and USD the strongest among the majors; stocks were off their best levels, and key commodities were lower. View our guide on how to interpret the FX Dashboard GBP, already downbeat by news BoE’s Vlieghe will consider voting for a …

Sterling Lower on Economic Data

It seemed as though no one even noticed economic data during the 4th quarter of last year, as Brexit was the sole focus.  With Brexit now a done deal (although a trade agreement still needs to be worked out), traders are turning their attention once again to economic data.  Many market participants, as well as …

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