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Top Trade Idea For July 7th, 2014 – AUD/NZD

Since early June, the New Zealand dollar has been the antipodean dollar of choice. The cross rate has moved 3.5% from 1.1035 to 1.0666 during those few weeks. While medium term analysis suggests that the trend lower may continue, in the nearer term, we may be due for a pullback. Today’s countertrend trade will look […]

Dollar Gets Pre Holiday Payrolls Boost and Other Top Forex News.

The dollar ended the shortened trading week in positive territory against most of the major currencies on Thursday, following the release of this mornings upbeat non-farm payrolls report. The U.S. Department of Labor said non-farm payrolls rose by 288,000 last month, way ahead of  expectations for an increase of 212,000. The previous month’s figure was […]

NZDUSD breaks trend-line as pair challenges resistance

The NZD pair has recently been challenging the major resistance level of 0.8775. With the pair having paused to resolve whether or not to push higher, a major trend-line has been broken. Subsequently, we are looking for a key region of price action which will likely determine the direction of the pair for the coming […]

Dollar Boosted By Upbeat Jobs Data and Other Top Forex News.

The dollar was boosted on Wednesday, closing the session in positive territory against a host of other currencies after data showed that the U.S. private sector added more jobs than expected in June. The data from payrolls processor ADP showed that the U.S private sector added 281,000 jobs last month, beating expectations for an increase […]

Weak U.S. Manufacturing Data Hits Dollar and Other Top Forex News.

The dollar fell against the pound and Canadian dollar on Tuesday, after the release of disappointing U.S. manufacturing data put paid to expectations that the Federal Reserve might raise interest rates sooner than expected. This mornings data from the Institute for Supply Management showed that its index of purchasing managers dipped to 55.3 last month […]

Euro May Rise if June CPI Data Tops Forecasts, Denting ECB Easing Bets

Talking Points: Euro May Move Closer to 1.37 vs. USD if June’s Flash CPI Estimate Tops Forecasts US Dollar Has Scope to Rebound on Upbeat Home Sales Figures, Fed Commentary NZ Dollar Fell in Asia as a Drop in Business Confidence Hurt RBNZ Rate Hike Bets The preliminary set of June’s Eurozone CPI figures headlines […]

Dollar Lower After Data Disappoints and Other Top Forex News.

The dollar fell against most of the major currencies on Monday after the release of somewhat mixed data from the worlds largest economy, cast doubt over the strength of the economic recovery. The dollar was initially boosted following the release of this mornings housing data, which showed that U.S. pending home sales rose to an […]

Dollar Steady As GDP Data Continues to Weigh and Other Top Forex News.

The dollar remained steady against the other major currencies on Friday, despite the release of strong U.S. consumer sentiment data. As Tuesdays disappointing GDP data and softer than expected household consumption data, continue to weigh on the dollar. This mornings data from the University of Michigan showed that its consumer sentiment index rose to 82.5 […]

Dollar Moves Higher As Data Improves and Other Top Forex News.

The dollar recovered most of yesterdays losses in moderate trading on Thursday as economic data turned positive. Brightening the outlook for the U.S. economy. The dollar was boosted after the Labor Department announced that initial U.S. jobless claims dipped by 2,000 people to 312,000 last week, a sign that the recovery in the labor market […]

Dollar Broadly Lower After GDP Data Disappoints and Other Top Forex News.

The dollar fell against most of the major currencies on Wednesday after official data showed that U.S. first quarter growth came in sharply lower and durable goods orders fell unexpectedly last month. The Commerce Department said U.S. gross domestic product contracted at an annual rate of 2.9% in the first three months of the year, […]

Top Trade Idea For June 25th, 2014 – GBP/NZD

The daily chart of the GBP/NZD currency pair is looking very interesting as it points to a potential breakout soon. The cross has been stuck in a narrowing range between major resistance at 1.9600/20 and a long-term bullish trend line, currently around 1.9450. A potential break outside of this range could lead to a sharp […]

Upbeat Data Boosts Dollar and Other Top Forex News.

The dollar moved into positive territory against most of the other major currencies on Tuesday following the release of U.S. consumer confidence and new homes sales data, both of which hit six year highs, bolstering the outlook for the wider recovery. The first of this mornings releases from the Conference Board showed that the consumer […]

USD Steady Against EUR After Global Manufacturing Data Mixed and Other Top Forex News.

The dollar held steady against the euro on Monday following the release of somewhat mixed private sector activity in the euro-zone indicating that the recovery in the euro area is losing momentum. The Euro-zone composite index of service and manufacturing sector activity fell in June to a six month low of 52.8, down from 53.5 […]

Australian, New Zealand Dollars Rise on Upbeat Chinese PMI Data

Talking Points: Aussie, NZ Dollars Rise as Chinese Manufacturing PMI Data Tops Forecasts Euro May Look Past PMI Data Set, Focus on Commentary from ECB Officials US Dollar Looking to Home Sales, PMI Data to Reignite Upward Momentum The Australian and New Zealand Dollars outperformed in overnight trade after data showed Chinese factory-sector activity unexpectedly […]

Dollar Recovers From Fed Fallout and Other Top Forex News.

The dollar ended the week on a high note, strengthening against all the major currencies, as it began to recover the fallout from this weeks Federal Reserve policy meeting. The dollar has been under pressure for most of the week, following Wednesday’s Fed meeting which gave little indication of when interest rates could start to […]

FED’s More Of The Same Allows FX To Print Money

For all the market worries about a U.K. housing bubble and U.S. financial stability, the only market shock yesterday was the central bank hawks that went missing in action. Despite expressing “surprise” that the market had not been pricing in higher rates for 2014, the Bank of England’s (BoE) Monetary Policy Committee (MPC) minutes revealed […]

Franc to Look Past SNB Announcement, Euro May Fall on ECB Rhetoric

Talking Points: Swiss Franc Unlikely to Find Volatility in SNB Policy Announcement Euro May Turn Lower Anew on Dovish Rhetoric from ECB Officials NZ Dollar Fell on Corrective Flows, Soft 1Q GDP Figure Overnight A monetary policy announcement from the Swiss National Bank headlines the economic calendar in European trading hours. Expectations pointing to a […]

Dollar Remains Lower Despite Strong Data and Other Top Forex News.

The dollar remained in the red against most of the major currencies on Thursday, despite the release of upbeat U.S. data. With sentiment dictated by yesterday’s Federal Reserve announcement that interest rates would remain low for some time to come. This morning’s data was mostly positive with the Federal Reserve Bank of Philadelphia announcing that […]

AUDNZD pullback at key level of support

The sell-off seen in the AUDNZD pair initiated by the RBNZ rate hike has become a more contracted issue, breaking back below the inverse head and shoulders neckline of 1.091. However, there are signs that this protracted pullback may be at a key point of support and thus there is a possibility of a move […]

Dollar Breakout Risk High on Fed, But a Trend ?

Talking Points: Dollar Breakout Risk High on Fed, But a Trend? British Pound Undeterred in Rate Hike Hopes After CPI Euro Can Sink Further as Rates Drop – Especially if Fed Holds Course Dollar Breakout Risk High on Fed, But a Trend? Between narrow trading ranges for the dollar-backed majors and the impending FOMC rate […]

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