Dollar Softer as Fed Powell Points to New Events, But No Downside Breakout
Dollar weakens mildly after the rather uninspiring speech of Fed Chair Jerome Powell. The highly anticipated is slightly on the dovish side as Powell mentioned a number of new “events after July’s rate cut. Though, sell off in the greenback...
Liquidity-hunting algos the next big thing in FX NDFs
How to tap liquidity in non-deliverable forwards (NDFs) has been exercising the minds of FX houses this year. In February, Goldman Sachs introduced a smart algo for accessing internal and external liquidity NDFs. Four months later, BNP Paribas went live...
Loretta Mester says if economy stays like this, Fed should keep rates ‘where they are’
Loretta Mester at Jackson Hole, August 25, 2017. Jodi Gralnick | CNBC Cleveland Federal Reserve President Loretta Mester believes that if the U.S. economy continues to grow at its current pace, she’s unlikely to support further reductions to interest rates. “At...
GBP/USD Tests Weekly R1
On Thursday, the GBP/USD exchange rate skyrocketed to the weekly R2 at 1.2274. During today’s morning, the rate declined to the support level—the weekly R1 at 1.2212. If the given support level holds, it is likely, that a reversal north...
USD/JPY Trades At 106.65 Level
During the previous trading session, the USD/JPY currency pair reversed north from the lower boundary of the short-term ascending channel at 106.35. During Friday morning, the pair reached the 106.65 mark. Note, that the exchange rate is supported by the...
Using Price Action As Your First Indicator in Technical Analysis
What is Price Action? Price action is the study or analysis of price movement in the market. Traders use price action to form opinions and base decisions on trends, key price levels and suitable risk management. Trend identification is frequently...
EUR/JPY Trading Within Range
The common European currency traded sideways against the Japanese Yen on Thursday. The currency pair was trading below the 50-, 100– and 200– hour SMAs during yesterday’s trading session. The exchange rate has been trading within the range of 118.31/117.62...
AUD/USD Targets At 0.6741
The Australian Dollar has depreciated about 0.44% in value against the US Dollar since yesterday’s trading session. The currency pair breached the monthly S1 at 0.6759 on Thursday. As for the near future, most likely, the AUD/USD exchange rate might...
USD/CAD Breaches SMAs
Since August 21, the US Dollar has appreciated about 0.48% in value against the Canadian Dollar. The currency pair has breached both the 50-, 100– and 200– hour simple moving averages. The USD/CAD pair will most likely aim at a...
Dollar Firms Up as Markets Await Fed Chair Powell’s Jackson Hole Speech
Sterling pares back some gains in Asian session today, but remains the strongest one for the week. It’s lifted by hope that an Irish border solution could finally be reached before October 31 to avoid no deal Brexit. Dollar is...
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