Forex Technical & Market Analysis FXCC May 21 2013 Fed-Speak to dominate EUR/USD trading in coming days The EUR/USD was able to claw back a small portion of its losses suffered last week, finishing the day up 64 pips at 1.2884. Economic news was light on the session with European markets closed and no releases out of the US. Market participants will be expecting volatility to really pick up later in the week when we see Fed Chairman Bernanke’s testimony to Congress, the release of the…See More

Forex Technical & Market Analysis FXCC May 20 2013 Bearish developments on EUR/USD charts continue to take shape It was a rough week for the EUR/USD, as continued speculation of the Fed tapering QE purchases and worries of economic growth in Europe continued to put pressure on the pair throughout the week. When all was said and done, the pair finished the week down 0.90% to close at 1.2838. Market participants will be focusing on a number reports this week including testimony from Fed…See More

Forex Technical & Market Analysis FXCC May 13 2013 Japan rests re-assured not labeled 'currency manipulator' by G7 Over the weekend, the G7 re-assured the market that Japan is not deliberately weakening the yen in order to create a competitive advantage against other industrialized nations. The group repeated its old same lines about its commitment to avoid artificial currency devaluation for domestic gain purposes, while re-iterating its commitment to avoid volatility in FX rates.…See More

Forex Technical & Market Analysis FXCC May 10 2013 Will a busy economic schedule next week be the catalyst for EUR/USD? The EUR/USD finished the day down 116 pips at 1.3044. Economic data was quiet for the most part but weekly jobless claims out of the US came in better than expected at 323k vs. 3.35k forecast. The US Dollar was well bid across the board, with the majority of action taking place in the USD/JPY which crossed the 100 threshold for the first time in four years. This seemed…See More

Forex Technical & Market Analysis FXCC May 09 2013 EUR/USD notches a solid day of gains as ‘risk on’ mentality continues In a day where risk assets were primarily well bid across the board, the Euro was able to notch some decent gains, finishing up 81 pips at 1.3159. The initial catalyst which seemed to help push the pair higher was the German Industrial Production (MoM) release which came in at 1.2% actual vs. -0.1% forecast. According to analysts at TD Securities, “In Europe, a solid…See More

Forex Technical & Market Analysis FXCC May 08 2013 What Equity Rally Says About Currencies Over the past week, all of the action has been in equities. U.S. stocks powered to new record highs while currencies consolidated quietly. The U.S. dollar weakened against the euro and Japanese Yen and strengthened against the British pound, Swiss Franc, Australian and New Zealand dollars. This divergent price action confirms that there isn't one directional interest in currencies. Part of the…See More

Forex Technical & Market Analysis FXCC Apr 29 2013EUR/USD – The week we’ve all been waiting for? ECB and Fed meetings on tapEUR/USD has started the week off on a strong note, benefiting from the headlines that Enrico Letta has been elected as the new Italian Prime Minister. At one point earlier in the session, the pair had traded as high as 1.3068, but is now back to consolidating near the opening print of 1.3050. According to analysts at FXStreet.com, “After two months of an irreconcilable…See More

Forex Technical & Market Analysis FXCC Apr 26 2013 All eyes on the ECB This week's data releases were disappointing on balance. While economic numbers in the US and China continued to come in on a weak(er) note, the eurozone's business climate readings failed to improve again. The UK's GDP report, however, was a nice exception, showing that the economy returned to growth earlier this year. With German business sentiment figures down again (but overall still signaling growth), the French…See More