Category Archives: Forex Trading News Events

USD/CHF to See a Reprieve as Price Rebounds Off Support

USD/CHF Daily Chart Technical Outlook: USD/CHF is responding to a near-term support confluence at 9553 after plummeting more than 3.2% off the monthly highs. This level is defined by the 78.6% retracement of the September advance and basic parallel support extending off he early December swing lows. Although the broader outlook remains weighted to the downside, the immediate decline is vulnerable while above this threshold with a rebound to ultimately offer more favorable short-entries. New to Forex Trading? Get started with this Free Beginners Guide USD/CHF 240min […]

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U.S. Consumer Sentiment Disappoints in January Amid Tax Reform Speculation By Investing.com

© Reuters. U.S. consumer sentiment falls to 94.4 vs. 97.0 forecast Investing.com – U.S. consumer sentiment unexpectedly fell in January amid speculation of the impact of recent tax legislation, dampening optimism over the American economy, according to a report published on Friday. The preliminary publication of the data for January from the University of Michigan’s Consumer Survey Center showed that dropped to 94.4 from 95.9 in the previous month. Analysts had forecast the reading to improve to 97.0. The also unexpectedly fell to 109.2 in January, from […]

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ECB, BoJ Headline Next Week as USD Tries to Carve Out Support

Talking Points: – The European Central Bank (ECB) and the Bank of Japan (BoJ) headline next week’s economic calendar. – Each Central Bank is likely to look to avoid additional strength in representative currencies, but the more pertinent question is whether markets comply. – Are you looking to improve your trading approach? Check out Traits of Successful Traders. And if you’re looking for an introductory primer to the Forex market, check out our New to FX Guide. To receive James Stanley’s Analysis directly via email, please sign […]

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USD Bearish Momentum Continues as Government Shutdown Nears

Talking Points: – It’s looking increasingly likely that the US federal government (despite one single party controlling the House, the Senate, and the White House) will shutdown at midnight tonight. – The US Dollar (via DXY Index) is feeling the sting of rising political risks, falling to a fresh three-year low today. – Retail trader sentiment suggests a tougher trading environment for the US Dollar heading into next week. Upcoming Webinars for Week of January 21 to 26, 2018 Monday at 7:30 EST/12:30 GMT: FX Week Ahead: […]

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UK Retail Sales Fall Twice as Much as Forecast in December By Investing.com

UK retail sales fall 1.5% in December vs. forecast for 0.6% drop Investing.com – Retail sales in the UK declined much more than expected in December, dampening optimism over the British economy, official data showed on Friday. In a report, UK Office for National Statistics said that decreased by 1.5% in December from the prior month, compared to the previous 1.0% gain which was revised from an initial 1.1% rise. Analysts had expected December’s reading to drop by just 0.6%. Year-on-year, rose by 1.4% last month, less […]

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Strong U. of Michigan Confidence Survey to Fuel Bearish EUR/USD Series

– U. of Michigan Confidence Survey to Increase for First Time Since October. – 12-Month Inflation Expectations Currently Sit at 2.7%- Highest Reading for All of 2017. Trading the News: U. of Michigan Confidence A meaning rebound in the U. of Michigan Confidence survey may fuel the recent series of lower highs & lows in EUR/USD as it encourages the Federal Open Market Committee (FOMC) to further normalize monetary policy over the coming months. Data prints highlighting an improved outlook for the U.S. economy may push the […]

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Australia’s economy to reach cruising altitude on global tailwind: poll By Reuters

© Reuters. FILE PHOTO: Businessmen use their phones as they stand in the central business district (CBD) of Sydney in Australia By Wayne Cole SYDNEY (Reuters) – Australia’s economy is seen cruising at a comfortable click over the next two years courtesy of strength in jobs, business investment and public spending, though miserly wage growth and a heavily-indebted consumer lurk as threats. Economists polled by Reuters estimated Australia’s A$1.8 trillion ($1.44 trillion) of annual gross domestic product (GDP) expanded 2.3 percent in 2017, unchanged from October’s forecast. […]

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USD/JPY Responds to Confluent Support- Rebound to Offer Opportunity

To receive Michael’s analysis directly via email, please SIGN UP HERE USD/JPY Daily Chart Technical Outlook: In this week’s Technical Perspective, we highlighted a key near-term support confluence in USDJPY while noting that, “price could see some rebound this week after this recent decline but the focus remains weighted to the downside while below the 200-week moving average which converges on the 2018 open at 112.50/65.” Indeed prices posted a sharp outside-day reversal off the 110.15/23 support zone where the measured target of the December consolidation break […]

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U.S. Jobless Claims Fall by 41,000 in Latest Week By Investing.com

© Reuters. U.S. jobless claims fall by 41,000 in latest week Investing.com – The number of people who filed for unemployment assistance in the U.S. last week fell more than expected, according to official data released on Thursday. The number of individuals filing for initial jobless benefits in the week ending January 13 fell by 41,000 to a seasonally adjusted from 261,000 in the prior week, the Labor Department said. Analysts had expected claims to fall to 250,000 last week. The four-week moving average fell by 6,250 […]

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U.S. Housing Starts Drop More Than Expected December; Building Permits Beat By Investing.com

© Reuters. U.S. housing starts come in at 1.192 million vs. 1.275 million forecast Investing.com – The number of housing starts fell more than expected in December, while building permits beat consensus, giving a mixed read over the health of the U.S. housing sector, official data showed Thursday. In a report, the U.S. Commerce Department said that housing starts fell by from the month before to hit a seasonally adjusted last month That was from November’s total of 1.299 million units, which was revised higher from the […]

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