Forex Market Commentaries From FXCC – Daily Commentaries on the biggest stories from the world of Forex Trading & Currency Exchange.
Shortly after the main London FX market opened, the dollar index (DXY) traded at 97.94, up 0.10%, as marginal dollar strength has returned to forex markets over recent trading sessions. The narrative delivered by Jerome Powell, the Fed chair, after the FOMC announced no changes to the current upper bound interest rate and to their […]
On Friday May 3rd, at 13:30pm U.K. time, the latest series of NFP jobs data will be published. The key headline figure, which is listed as a high impact event on economic calendars, is the metric indicating the amount of “non farm payroll jobs”, created in the previous month of April. Traditionally, barring bank holidays,
After whipsawing in a tight range versus several of its peers on Wednesday evening, during the period between the FOMC rate hold announcement and the conference held by Jerome Powell, the Fed chair, the U.S. dollar consolidated its position during the Sydney and Asian trading sessions. By 7:30am U.K. time on Thursday morning, the dollar
On Thursday May 2nd, at 12:00pm U.K. time, the MPC, Monetary Policy Committee of the U.K. central bank, the Bank of England, will announce its decision regarding the U.K. economy’s base interest rate. The rate is currently 0.75%, it’s risen twice since the BoE lowered the rate to a record low of 0.25% in June
After experiencing several sessions of losses, USD registered marginal gains versus several peers, during the Asian and early part of the London-European sessions. At 7:45am U.K. time the DXY traded up 0.06%, rising further above the 97.00 handle at 97.53. USD/JPY traded up 0.12%, oscillating close to the daily pivot point, displaying a daily, price
Experienced traders can be rendered open mouthed when they peruse trading forums and read reports from novice traders, who’ll continually trade without stops. Capital preservation is one of the key factors when you trade markets; your risk has to be monitored and limited, at all times. During your early, fledging, months and years, one of
If you’re trading without stops then you’re taking unnecessary risks in the FX market. Read More »
At 19:00pm U.K. time, on Wednesday May 1st, the FOMC (Federal Open Market Committee) will announce its decision on the USA key interest rate. The widely held consensus, arrived at after news agencies such as Bloomberg and Reuters have polled their panels of economists, is for the key rate, referred to as the upper bound
During Tuesday’s Asian trading session, China’s latest Caixin PMI figure came in at 50.2 for April, below the Reuters forecast of 50.9. The Markit PMI for China came in at 50.1, missing the forecast of 50.5. Both metrics registered readings just above the 50 level; the figure that separates contraction from expansion. The readings will
FX traders will often come across the phrase, “trading noise”. It’s a highly common phenomenon and occurrence, based on the estimates that FX currency markets (and the associated pairs) trade in ranges, far more than trading in easily identifiable trends. The estimates of the variance between range and trend trading, is often put at 80-20%;
On Tuesday April 30th, the latest GDP readings for both the Eurozone and Canada will be published. The latest GDP growth reading for for E.Z. will be published at 10:00am U.K. time, both Reuters and Bloomberg forecast an unchanged figure of 1.1% for year on year growth to be recorded, with quarter one 2019 coming
