Forex Market Commentaries From FXCC – Daily Commentaries on the biggest stories from the world of Forex Trading & Currency Exchange.
The main event this week—the Federal Open Market Committee meeting/Ben Bernanke press conference—concluded today. Markets and investors, news casters and financial analysts had built this into the meeting of all meeting, market expectation were high, markets for weeks have been searching for and positioning themselves for more monetary easing. They were sure that the Fed […]
The Main Event This Week Was A Dud Read More »
Consumer confidence has fallen in Canada, partly on concerns about employment and recession and high prices, according to the latest data from the Conference Board of Canada. This month, the board’s Index of Consumer Confidence dropped 4.5 points from March, leaving negative attitudes at their highest level in more than two years. The index now
Canada Gets Hit With A Double Whammy Read More »
Markets and investors have been totally distracted this week by the upcoming FOMC meetings and the BoJ rate decision and political problems in Europe that we have not focused on hard core economic data. This week has a lot in store outside of those main events. Especially at the end of the week with US
What’s In Store For The US For The Rest Of The Week Read More »
At the close of last week the euro/pound held below the 0.8222 previous range bottom. The UK retail sales were reported strong but this was not enough to push sterling from further gains against the single currency. The EUR/GBP basically held a sideways trading pattern roughly between 0.8165 and 0.8205. The pair was changing hands
The EUR/GBP Cools Down Read More »
On Thursday, EUR/USD continued to hover within the sideways trading pattern that is in place since earlier this week. The Spanish bond auction went rather well, but failed to change sentiment for the better. EUR/USD dropped temporary below the 1.31 mark, but the key 1.3000/1.2974 support stayed out of reach. Yesterday, the focus of global
The EUR/USD Wanders Rudderless Read More »
Today’s eco calendar in Europe is near empty, but the US one is more interesting. Initial claims are expected to have dropped following last week’s surprise sharp rise. The week under review is the post-Easter week, which might again lead to distorted results. Tentatively, we put the risks on the upside of expectations, while the
EUR/GBP Moves From Spicy To Hot Read More »
The Fed goes into black-out mode ahead of next week’s FOMC meeting which will be a key meeting in that it will share updates of quarterly staff projections and forecasts from FOMC officials. The Bank of Canada announced Tuesday that it will keep its benchmark interest rate unchanged at 1%. The overnight lending rate has
Central Banks And Monetary Policy In The News Read More »
On Monday, investors on global markets didn’t really know which card to play. This uncertain trading pattern was also visible in the EUR/USD cross rate. After last week’s steep losses there was no additional news to push the pair sustained below the 1.3000 mark. On the other hand, we are also not impressed by yesterday’s
Economic Data From The US Confuses Everyone Read More »
This is a mid month week usually a quiet time for economic data. After last week’s Chinese and US data, the markets are looking for directions, but this week, will probably be all about Spain and Italy. News will take the center stage. Below is a quick listing of what to expect this week. Asia
Economic Data For the Upcoming Week Read More »
Yesterday, following a few sessions in which the euro couldn’t gain ground, enough time had passed to give the euro bulls the confidence and courage (in the US session) to buy euros. EUR/USD closed at 1.3188, a 79 tic’s gain from Wednesday evening. Commodities, that also lagged the recent risk-on rally just like the euro,
A Story About The Euro Read More »
