Talking-Forex.com
Talking-Forex.com
Overview
As was likely to be the case given that newsflow over the weekend was relatively light and today’s calendar offered very little in the way of tier 1 data points or notable speakers, FX markets saw a relatively subdued session. Despite the USD-index initially being weighed on in early European trade and subsequently providing a modest boost to its major counterparts, the USD-index managed to pull back some of its earlier losses, with a lack of fundamental newsflow behind the move. EUR was one of the sessions outperformers despite the continued dovish tone form the ECB with RANsquawk sources noting real money demand for EUR/GBP. Elsewhere, despite trading lower overnight after some disappointing NZ data in the form of Westpac consumer confidence, NZD managed to pare back some of its losses and proceeded to trade in a relatively rangebound manner. Finally, RUB has continued to pullback from its record lows vs the USD as the effects of the Russian central banks rate hike and intervention appearing to be easing some of the nations currency headaches, with USD/RUB 31% below its record high. Other than that, today’s data points offered very little in the way of trading opportunities and as such participants now look ahead to tomorrow’s slew of tier 1 data release which include US durable goods, GDP, University of Michigan confidence, new home sales, personal income and PCE data.
The information within this website has been prepared and issued by Talking Forex on the basis of publicly available information and other sources believed to be reliable. Whilst all reasonable care is taken to ensure that the facts stated are accurate, neither Talking Forex nor any director, officer or employee shall in any way be responsible for its contents. This document is intended to provide clients with information and should not be construed as an offer or solicitation to buy or sell securities.You may cancel your service at any time, just contact us from the FAQ/support page quoting your registration email address and we will cancel your subscription as of the next billing cycle or refund your trial deposit.
Recommended Content
Editors’ Picks
EUR/USD regains traction, recovers above 1.0700
EUR/USD regained its traction and turned positive on the day above 1.0700 in the American session. The US Dollar struggles to preserve its strength after the data from the US showed that the economy grew at a softer pace than expected in Q1.
GBP/USD returns to 1.2500 area in volatile session
GBP/USD reversed its direction and recovered to 1.2500 after falling to the 1.2450 area earlier in the day. Although markets remain risk-averse, the US Dollar struggles to find demand following the disappointing GDP data.
Gold climbs above $2,340 following earlier drop
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger
Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP.
After the US close, it’s the Tokyo CPI
After the US close, it’s the Tokyo CPI, a reliable indicator of the national number and then the BoJ policy announcement. Tokyo CPI ex food and energy in Japan was a rise to 2.90% in March from 2.50%.