RBA Action Day

Forex Market News As usual we had a relatively quiet start to the week after some late action last week following an improved US core CPI, which put the USD back on the front foot. EUR led the way breaking through strong recent support at 1.1260 opening the door for another test of January’s low of 1.1100. Despite some stronger China Manufacturing PMI data over the weekend and on Monday as well as an interest rate cut by the PBOC (China Central Bank), Mondays price action was very subdued and…

Global Equities Spoil the USD Rally, For Now

Forex Market News Not a great deal to report after yesterday’s disappointment from the RBA ! Although the spike higher in the AUD in the preceding minute before the official release at 2.30pm has sparked some growing concern. The USD looked good at the start of the week but has once again stalled at the top end of recent ranges. Equity markets overnight traded on the downside which helped stall the USD rally. Despite some second tier positive European data, the EUR/USD failed to make any significant ground, stalling just…

ECB Acts, BOE Stands Pat, USD Rallies

Forex Market News ECB Mario Draghi, as expected, announces the start of the ECB government bond buying program on March 9. Buying bonds with negative yields up to the Deposit Rate (-0.2%). Monthly purchases totalling €60B, targeting inflation in line with ECB’s 2% objective. EUR had an initial nasty spike above 1.1100, (that should probably by investigated !!), then drops to test under 1.1010, and later under 1.10 to 1.0987. 1.0770 here we come! BOE Maintains its current policy stance. A non-event with meeting minutes to come mid March. US…

Strong Payrolls, Strong USD

Forex Market News US Feb Non-Farm Payrolls Change +295K v +235Ke US Feb Unemployment Rate 5.5% v 5.6%e That explains it all!   Strong US data sent the USD higher across the board. The market certainly got what it was looking for, although the wages growth component was slightly disappointing. UST yields rallied, oil traded heavily within recent ranges and gold sold off accordingly as well.  Look for levels to buy USD’s !! it’s that simple.   With a relatively slow start for the USD this week, look for pullbacks and the…

The Strong USD Rolls On

Forex Market News Captain America is back!!! With a lack of anything new overnight or yesterday, the USD has continued its momentum higher.  We had an attempt at some USD pullback on Monday into the European trading session, however it didn’t take long for the market to pull the trigger and start buying USD. USDJPY pretty much led the way with EUR taking a short spell at the lows of 1.0820, however there was no waiting on Tuesday as EUR crashed through 1.0800 and dropped almost 200 pips in a…

USD Catches its breath, for now

Forex Market News Finally some retrace and pullback in the USD.  It all started yesterday with the failure of the RBNZ, disappointing the market with its  inaction or  significant change in outlook. This sent the NZD higher, effectively starting the USD pullback. Throughout the Asian session the EUR tested and took out the option barrier at 1.0500 then started its retrace higher continuing through the European and NY sessions as the market took profits on USD long positions. A lack of data left the market to its own devices, until…

The Second Trading Quarter

Monthly Newsletter – Forex Psychology with Saira Khalid Welcome to the new quarter of 2015 starting afresh in April. This is your time to shine in the second Trading quarter. The Day light saving ends and the London open times are tradeable for most in the Australian market. Here is a guide to know the times (frankly I simply look up as I find it confusing! Due to daylight savings across the globe I suggest you use www.forexfactory.com or simply use our Smart Charts with ForexCFDs to check out the…

Currency Wars

Forex Market News Currency Wars! What are they? Who’s fighting and what are they fighting about ? How does it affect us? ‘Currency Wars’ simply refers to the situation where a number of countries are effectively competing to devalue their currencies. They are doing this to ‘cheapen’ their currency in order to either export their way out of recession or boost their local tourism industry to improve their domestic economic situation. It sounds simple however there are a number of economic and political consequences, hence the reference to a ‘War’!…

Yellen Adds to USD / Rate Rise Confusion

Market Report A mixed week of data last week with US data giving us ammo for the bulls, stronger CPI, and for the bears, weaker GDP.  Yellen also over the weekend gave us bullish comments followed be bearish detail. Confused ? Don’t worry. SO is the Fed it would seem! Right. Let’s look to the future not the past. This week is another week of relatively light data. As a general rule, the underlying trends will tend to influence market direction and I see no difference this week leading into…

Power Belief Principles in Trading

Monthly Newsletter – Forex Psychology with Saira Khalid Today I will focus on the power of our beliefs and how they influence every aspect of your life including your trading results. Also how does your brain influence your beliefs? It is time to embrace new ‘Power Belief Principles’. Everything I say or do reflects my beliefs! “Affluence, unboundedness, and abundance are our natural state. We just need to restore the memory of what we already know.” –Dr D Chopra The market is a reflection of you. What it means is that…