Forex News

EUR/GBP Testing 2019 Lows

EUR/USD has been down 8 of the last 9 trading days, and the 1 day it closed higher, it was only up 4 pips!  Once the pair broke the neckline of the head and shoulders pattern last week, if was off to the races.  Price has traded from 1.1094 down to today’s lows near 1.0834, …

FTSE lower on RBS, NMC and AstraZeneca

Negative company news is dragging down the FTSE even as the Chinese virus outbreak is showing signs of containment. Royal Bank of Scotland lost 5.4% in early trading after the majority state-owned banking group reported an increased profit for the fourth quarter but reduced its medium-term returns target. Shares in the embattled health operator NMC …

Sweden’s Riksbank Leaves Rates Unchanged

The Riksbank met earlier today and left rates unchanged at 0%, as expected.  Sweden’s central bank was the one of the first to exit from negative rates at their last meeting on December 19th, 2019.  Members said that inflation and growth are in line with previous expectations, however they did note that inflation may be …

EUR/CHF – It’s All about the RSI

Yes, it’s true the EUR/USD has had six straight down days entering today.  However, just because the EUR/USD has been moving lower lately, it does not justify the move lower in EUR/CHF, which has been moving lower since late October!  But is it time for the  pair to bounce?  When we look at the EUR/CHF …

The Dollar’s Short-Term Trend May Be Flipping Following Powell’s Pragmatism

Twice per year, the Chair of the Federal Reserve makes the trek down Constitution Avenue to update Congressional leaders on the state of the US economy. This event, called the Humphrey-Hawkins Testimony after the lawmakers who initially created the requirement back in 1978, offers a longer-term perspective on the outlook for the US economy and …

RBNZ Needs to Buy Time

The Reserve Bank of New Zealand will meet in a few hours and give their decision on whether or not to move the official cash rate from record lows at 1%.  On November 13th, the market was expecting the RBNZ to cut rates to 0.75%, however they left rates unchanged, citing that monetary policy was …

Chinese Yuan Stronger after Inflation Data

The headlines about China lately have been centered around the Coronavirus, and rightfully so!   Depending on who you ask, the rate of increase may or may not be decreasing.  However, the world is at a point where people are a at least beginning to discuss whether a top is in.  Prior to this weekend, all …

EUR/USD Falls for Sixth Straight Day, 3-Year Low In Sight

“February is a suitable month for dying. Everything around is dead, the trees black and frozen so that the appearance of green shoots two months hence seems preposterous, the ground hard and cold, the snow dirty, the winter hateful, hanging on too long.” The above quote, courtesy of author Anna Quindlen, is a bit dramatic …

Nice Double Bottom on AUD/NZD!

As we have been discussing for months, both the Australian economy and the New Zealand economy are heavily dependent on the Chinese economy. Not to sound like a broken record, but China is a large importer of goods and services from both Australia and New Zealand.  So, if China’s economy slows, demand for goods and …

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