Forex Market Commentaries From FXCC – Daily Commentaries on the biggest stories from the world of Forex Trading & Currency Exchange.
Japan printed disappointing export and import data during the overnight Sydney-Asian trading session, which caused yen to sell off marginally, versus several of its major peers. Exports fell by -1.20% year on year in February, with imports falling by -6.70% year on year. Both readings could be an indication that one of the engines of […]
The U.K. pound will be under increased focus and intense pressure during the week beginning March 17th. U.K. MPs’ concentration and attention will become heightened, as the March 29th Brexit date approaches. The U.K. government and Parliament only has two working weeks to prevent a non chaotic exit. FX traders will know more, with regards
Japan’s central bank, the BOJ, has kept its interest rate in negative territory (NIRP) at -0.1%. During Governor Kuroda’s press conference, after the announcement was broadcast, the BOJ downgraded its assessment of: exports, factory output and its trading partners’ economies. The negative assessment of the domestic economy was widely expected, as a consequence of a
The chaos and confusion currently on display inside the U.K. House of Commons, was replicated in the market for the U.K. pound versus its peers, during Thursday’s trading sessions. All sterling base pairs traded in tight ranges versus their counter currencies, as analysts and FX traders struggled with the complexity of the voting patterns and
The Shanghai Composite index fell by -1.20% during the Asian trading session on Thursday morning, as critical data relating to the country’s economic performance, missed the Reuters forecasts. Industrial production for the globe’s second largest economy, came in at 5.6% growth (year on year) up to February, falling from 6.20% growth in the previous month.
After enduring a sell off during the trading week ending March 8th, USA equity markets have rallied this week. The SPX closed at a four month high after three days of rises, reaching a level not seen since November 2018, whilst breaching the 2,800 critical handle, during Wednesday’s trading session. The durable goods data for
Sterling rose marginally, versus several of its main peers during the early part of the London-European session, as a consequence of the vote scheduled to be conducted later on Wednesday afternoon. MPs will get a chance to vote down a no deal Brexit, effectively forcing Parliament to find an alternative exit mechanism. However, there’s a
Sterling experienced modest losses during Tuesday morning’s London trading session, losses that that were accelerated, after the government’s attorney general confirmed the additional words, attached to the original withdrawal agreement, were ineffective and pointless. GPB/USD slumped by circa 200 pips, as FX traders and analysts quickly and correctly judged, that the revised motion had very
The U.K. pound continued the bullish direction it developed on Monday evening, as a consequence of the additional wording tagged onto the Brexit withdrawal agreement, which could give comfort to doubtful MPs, regarding the obstacle of the Irish backstop. The U.K. Parliament is due to vote on the revisions on Tuesday evening, at approximately 7:00pm.
The U.K. pound surged during the latter stages of the New York session, as the U.K. prime minister flew off to Strasbourg to meet with the E.U. Brexit negotiating team. Unfounded rumours had circulated around Westminster during Monday afternoon, that the E.U. had finally relented and were prepared to deliver a compromise, ensuring that the
