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Post-FOMC Levels Holding USD for Now; JPY-crosses Begin Breakdown

Talking Points: USDOLLAR Index struggling at post-FOMC low, daily 34-EMA. USDJPY wipes out below 119.25, contrary to March seasonality. See the March forex seasonality report for trends in the QE-era. The Japanese Yen is defying its seasonal tendancies right now, which could set up an interesting month of April. Typically, at least over the past […]

Dollar Staves Off Another Reversal Risk

Talking Points: Dollar Staves Off Another Reversal Risk Euro Focus Turning from QE Back to Greece British Pound Stumbles After Inflation Stalls for the First Time Dollar Staves Off Another Reversal Risk The Dollar took another stab at turning its eight-month bull trend this past session. However, this time around, there wasn’t a FOMC rate […]

Top trade idea for March 25th, 2015 – AUD/USD

The US dollar is trading lower again in the aftermath of the FOMC’s surprisingly dovish statement last week and after the durable goods orders became the latest US macro data to disappoint expectations. As well as the pound and euro regaining some lost ground, the commodity currencies have also fared well in recent days, not […]

Commodity Dollars Rise as Yen Gains on Firming Risk Appetite

Talking Points: Commodity Dollars Aim Higher as Yen Falls Amid Firming Risk Sentiment British Pound Declines, Newswires Cite Dovish BOE Rhetoric as Catalyst See Economic News Directly on Your Charts with the DailyFX News App The Australian, Canadian and New Zealand Dollars outperformed in overnight trade as firming risk appetite fueled demand for sentiment-geared FX. […]

Top Trade Idea For March 20th, 2015 – AUD/JPY

Fashions in trading come and go, and many traders are shaped by their biggest wins and losses. This may explain why share market traders tend towards bearishness. Stocks go up by the stairs, and down in the elevator, meaning share traders often get their largest and fastest wins in falling markets. These happy experiences bias […]

The Dollar Meltdown and Rebound – What Did the Fed Do?

Talking Points: EURUSD trades back under 1.0700 after seeing 1.1000 yesterday. USDCAD finds triangle support, trades back to daily 8-EMA. See the March forex seasonality report for trends in the QE-era. Yesterday produced the largest single-day rally in EURUSD since October 27, 2011, at the height of the Euro-Zone crisis. Subsequently, that also marked the […]

Top trade idea for March 19th, 2015 – AUDCAD

Bullish triangle for the audcad cross as this should be part of a zigzag. In order for a triangle to be part of a zigzag we should look for continuation after it is broken but the break should come under strict conditions. That being said, market should not dip below the 0.9650 anymore and this […]

FOMC EUR Squeeze Gathers Momentum

USD bulls don’t require patience DXY has room on the downside BoJ scales back on inflation RBA opens up both barrels It’s no real surprise to see that major currency pairs keep to tight trading ranges ahead of tomorrow’s Federal Open Market Committee outcome. The calls on whether or not U.S. policy members will vote […]

US Dollar Bounce May Yield to Renewed Selling on PPI, UofM Data

Talking Points: US Dollar Pullback May Resume on Soft PPI, Consumer Confidence Data Australian Dollar Underperforms in Asia, Tracking ASX/S&P 200 Decline See Economic News Directly on Your Charts with the DailyFX News App The US Dollar corrected higher in overnight trade, rising as much as 0.2 percent on average against its leading counterparts. The […]

US Dollar May Correct Lower as Retail Sales Data Cools Fed Outlook

Talking Points: Soft Retail Sales Data May Cool Fed Rate Hike Bets, Push US Dollar Lower NZ Dollar Soars on RBNZ Rate Decision, Aussie Recovers on Jobs Report See Economic Releases Directly on Your Charts with the DailyFX News App A quiet economic calendar in European trading hours is likely to see traders looking ahead […]

Top Trade Idea For March 11th, 2015 – AUD/NZD

With no new US economic data of note scheduled for release today, the forex market’s recent trends are extending for another day. Of course, the most powerful and influential trend is the pervasive strength in the US dollar: EURUSD tagged a new nearly-12-year low under the 1.0600 level earlier today on continued weakness in European […]

Top Trade Idea For March 10th, 2015 – AUD/USD

Today’s Top Trade Idea  AUD/USD On AUDUSD we see five waves down within an extended wave (3) that found some support at the start of February near 0.7600. Till now the bounce was not that strong so we think that pair made just another corrective move; wave (4) that can be completed around that upper […]

Dollar Holds its Range as Traders Look to SPX and NFPs as Loaded Catalysts

Talking Points: Dollar Holds its Range as Traders Look to SPX and NFPs as Loaded Catalysts Euro: Is There More Easing from a Well-Priced ECB Stimulus Program? Australian Dollar Refuses to Break 0.79 Despite RBA Hold, Data, China Improvement Dollar Holds its Range as Traders Look to SPX and NFPs as Loaded Catalysts Event risk […]

USD/CAD – RBA Decision has the Loonie Bear Concerned

RBA keeps rates on hold Abe’s Aide guides Yen higher Will CAD’s GDP influence BoC Poloz? Market to focus on NFP Capital markets are finally on the move albeit slowly. Record low bond yields, record high global equities indices, and strained forex ranges are beginning to provide more trading opportunities in these first few days […]

Aussie Dollar Soars as RBA Withholds Rate Cut, NZ Dollar Gains on Data

Talking Points: Aussie Dollar Soars After RBA Unexpectedly Leaves Rates Unchanged NZ Dollar Higher on Upbeat Commodity Exports, House Price Figures British Pound May Not Find Support in Upbeat Construction PMI Data The Australian Dollar outperformed in overnight trade, rising as much as 0.7 percent on average against its leading counterparts, after the RBA unexpected […]

US Dollar May Fall if Soft Core Inflation Data Cools Fed Rate Hike Bets

Talking Points: Euro, Pound Unlikely to Find Volatility in UK GDP and German Jobs Data US Dollar May Decline if Soft Core CPI Weighs on Fed Rate Hike Outlook Australian Dollar Down as Weak Capex Report Boosts RBA Rate Cut Bets The economic calendar is relatively quiet in European trading hours. A marginal improvement on […]

Dollar Finds No Traction on Yellen’s Support for Hawkish Shift

Talking Points: Dollar Finds No Traction on Yellen’s Support for Hawkish Shift Euro Tuned into Greece Reform Review, Fear Fading Fast Australian Dollar Jerked Higher By Chinese Manufacturing Report Dollar Finds No Traction on Yellen’s Support for Hawkish Shift Fed Chairwoman Janet Yellen delivered her testimony before the Senate Banking Committee Tuesday and the content […]

Top Trade Idea For February 25th, 2015 – AUD/USD

In last Friday’s Week Ahead Preview report, we noted that AUDUSD “[had] held up extremely well despite a surprise RBA rate cut and weak jobs report, suggesting that sellers may be growing exhausted around the .7700 handle…” As a general rule, when price action and the fundamental “news” diverge, price is usually proven correct; therefore, […]

Pound May Rise as US Dollar Falls on Bank of England, Fed Testimony

Talking Points: British Pound May Rise as BOE Testimony Fuels Rate Hike Speculation US Dollar Disproportionately Vulnerable to Losses on Yellen Comments RBNZ Survey Puts Inflation Outlook at 15-Year Low, Sinks Kiwi Dollar Bank of England monetary policy expectations will be in focus in European trading hours as Governor Mark Carney, Deputy Governor Ben Broadbent […]

Is USD Consolidation Ready to End? Charts for the Week

Talking Points: USDOLLAR Index breaches topside of recent range 11770/810. EURUSD triangle, GBPUSD wedge, USDCAD triangle in focus. See the DailyFX Economic Calendar for the week of February 22-27, 2015. Despite all the hoopla surrounding Greece’s late-week loan extension agreement, the reaction seen in the Euro complex wasn’t all that inspiring. In recently downtrodden pairs […]

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