CHF
Dollar – Whipping Boy of Fed Watchers
By Kathy Lien The price action in the FX market today is very similar to what we saw at the beginning of last week. The U.S. dollar is trading strongly against high beta currencies such as the GBP, AUD, NZD and CAD but is weaker against the EUR and CHF. The only outlier is USD/JPY, [...]
Dollar Outlook Next Week Hinges on Bernanke
By Kathy Lien The month of June has proven to be an extremely volatile period in the forex market as the U.S. dollar fell aggressively against many major currencies. Unfortunately we can’t expect the markets to calm anytime soon with a heavy dose of economic data expected from countries around the world. The U.K. and [...]
Chart of the Day for June 5th, 2013 – USD/CHF
By Ilya Spivak Prices declined as expected after putting in a Bearish Engulfing candlestick pattern. Sellers took out support at 0.9522, the 50% Fibonacci retracement, to expose the 61.8% level at 0.9447. A further push beneath that eyes the 76.4% Fib at 0.9355. The 0.9522 mark has been recast as near-term resistance, with a move back above that aiming [...]
Trade of the Day for June 3rd, 2013 – Short USD
By Jamie Saettele June is historically the worst month for the stock market. Judging by the last few hours of Friday trading, June apparently came early. A bigger stock market setback probably occurs coincident with a decline in the US Dollar. Why? Long USD and long stocks are both crowded trades. In times of panic, [...]
Trade of the Day for May 30th, 2013 – Long USD/CHF
USD/CHF Pressing Validity for the Uptrend The USD/CHF uptrend is still fresh in that it is not established and the extent to which the 34EMA Wave will be respected is still unknown. That means that today’s pullback which currently had a daily pip movement range of 123 pips is on the very high end of [...]
Profit Taking Hits Dollar In Volatile Trading and other Top Forex News.
The dollar fell sharply against most of its major rivals on Wednesday, after investors decided to take profits on the yen and euro after recent strong gains. The dollar has risen more than 1.6% against the euro and gained almost 4% against the yen this month alone after recent data out of the U.S. showed [...]
Dollar Extends Gains on Stronger Data, Central Bank Gold Buying
There is a new sense of energy in the FX markets today but the rally has been contained to only a few major currency pairs. The biggest gains are being enjoyed by USD/JPY and USD/CHF but AUD/USD and NZD/USD also recovered nicely. Euro and sterling on the other hand are struggling to gain any type [...]
Nervous Markets Keep Currencies Under Pressure
Based on the price action of the currency and equity markets, risk aversion is driving investment flows. The U.S. dollar is trading higher against all of the major currencies with the exception of the Japanese Yen and Swiss Franc. This performance is finally consistent with what we would expect when equities are selling off. USD/JPY [...]
Chart of the Day for May 20th, 2012 – USD/CHF
By Jamie Saettele, CMT An inverse head and shoulders pattern that began exactly 8 months ago (9/14/12) was confirmed Tuesday in the USDCHF. The target from the pattern is 1.0111. In the ‘year of the breakout’, ignore such patterns at your own risk. Wrote Wednesday that “channel resistance won today but look for support at [...]
Dollar Rally Rolls on; Loonie Benefits?
Market Drivers May 10, 2013 USD/JPY rally continues UK Trade data misses Nikkei 2.93% Europe 0.62% Oil $95.69/bbl Gold $1448/oz. Europe and Asia: JPY Trade Balance – BOP Basis Yen 0.34T vs. 0.48T JPY Eco Watchers Survey: Outlooks 56.5 vs. 59.2 EUR German Trade Balance 17.6B vs. 18.0B GBP Visible Trade Balance -9.1B vs. 8.9B [...]
Will ECB Drive Euro Lower?
Market Drivers May 02, 2013 Euro very quiet ahead of ECB Aussie continues to slide on concerns over China growth Nikkei -0.76% Europe -0.01% Oil $91/bbl Gold $1454/oz. Europe and Asia: CHF SVME PMI 50.2 vs. 49.1 EUR ECB Rate Decision n/a EUR ECB Deposite Facility Rate n/a EUR Euro-Zone PMI Manufacturing 46.7 vs. 46.5 [...]
Trade of the Day for April 18th – USD/CHF: One Thing Leads to Another
The 240-minute USD/CHF has formed an interesting pattern off a trio of downtrend lines. The 240-minute time frame is in a “four to six o’clock” downtrend and it’s this downtrend that gives these lines validity as a channel down or falling wedge. It’s not enough to simply have the pattern, ideally, it should form within [...]
USDJPY Bounces On Better Than Expected Jobless Claims and Other Top Forex News
The USDJPY began the day trading slowly after failing to break through the key 100 per yen level overnight. During the morning session USDJPY dropped to 99.10, before retracing back above 99.75, when the The Department of Labor announced better than expected jobless claims. The dollar is now testing the 100 level for a second [...]
Dollar Holds Steady After FOMC Minutes Mix Up and Other Top Forex News
The dollar was trading close to a four year high against the Yen this morning, after the FOMC minutes for March indicated the Fed was divided about when to ease back on its bond buying program. The minutes, which were released early due to a mix-up, sent the USD/JPY up to 99.54 during the morning [...]
USD/JPY Fails at 1st Attempt at 100.00 But Holds Ground
Market Drivers April 09, 2013 USD/JPY fails on 1st run to 100.00 but support comes in at 99.00 UK IP/MP better helps lift cable to 1.5300 Europe 0.72% Nikkei -0.24% Oil $93.72/bbl Gold $1574/oz. Europe and Asia: AUD NAB Business Confidence 2 vs. 1 JPY Machine Tool Orders -21.6% vs. -21.5% CHF Unemployment Rate 3.1% [...]
Top 3 FX Trades for Q2
The second quarter of 2013 started with the bang. Key fundamental shifts in monetary policy and underlying changes in various economies caused a significant increase in volatility across the foreign exchange market. The sell-off in the Japanese Yen caused by the Bank of Japan drove all of the major currencies higher. Since last Thursday, every [...]
FX: Stocks Rally but Only Non-European Currencies Follow
It is the first fully participated trading day in the second quarter. Market participants around the world have returned from their Easter holidays and we are beginning to see larger movements in equities and currencies but unfortunately the optimism in stocks is not mirrored in all major currencies. The nominal rally in USD/JPY is consistent [...]
Why the Miracle Rally in Stocks Hasn’t Helped FX
By Kathy Lien, Managing Director of FX Strategy for BK Asset Management With U.S. markets closed for Good Friday, the first quarter of 2013 has officially drawn to a close. The past 3 months have certainly been a tumultuous one in the forex markets, but for equity traders there’s hasn’t been a better time for [...]
Euro Rebounds but Dollar Holds Firm on Mixed Economic Data and Other Top Forex News
The EUR/USD rebounded to 1.2837 this morning the area where it remained most of the day, as stronger than expected retail sales in Germany, allied with the easing of concerns over Cyprus, provided much needed relief for the euro. The USD/JPY dipped from 94.33, to 94.17. in early trading but later recovered to 94.24, as GDP [...]
Sterling Falls on Weak Manufacturing Data; Yen Rebounds on Iwata Rumor
By Christopher Vecchio, Currency Analyst ASIA/EUROPE FOREX NEWS WRAP Early week jitters have returned among traders shorting the Japanese Yen, as it appears that Prime Minister Shinzo Abe’s nest of policymakers at the Bank of Japan might have one fewer dove. Opposition party DPJ will oppose the nomination of Kikuo Iwata for the deputy governorship, [...]
