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Day: September 29, 2015
September 292015
NZ Dollar Demonstrates Small Gains
The New Zealand dollar ticked up today as the rally of raw materials helped commodity currencies. Still, volatility on the Forex market does not make it easy for risky currencies of emerging markets to rally. The rally of commodity prices helped mitigate risk aversion among traders. The bounce of Glencore shares also proved helpful to currencies linked to raw materials. Nevertheless, the current volatile trading environment and the outlook for monetary tightening in the United States […]
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September 292015
Positive Data Doesn’t Help Pound to Rally
The Great Britain pound moved lower against its major counterparts today even though macroeconomic data from the United Kingdom was supportive for the currency. Distributive Trades Survey released by Confederation of British Industry demonstrated a positive balance of +49 percent in September, double the previous value and far above market expectations. The positive data should increase pressure on the Bank of England to normalize its monetary policy. The sterling gained a bit after […]
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September 292015
UK Pound Continues to Struggle in Forex Trading
UK pound is still struggling in currency trading on the FX market today. The UK pound has had a downside for several days now, and it is likely to continue to struggle, until new data can shed some light on what’s next, and what might result in a change in policy. Right now, the UK pound is down against the US dollar as policy divergence remains the focus. The Federal Reserve is expected to boost […]
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September 292015
Better Eurozone Sentiment Helps Euro Pare Some of Its Losses
Euro was struggling a great deal earlier in the session, but the 19-nation currency has since pared some of its losses. Better news out of the eurozone, with an improved confidence reading, is helping the euro, although it is still mostly lower against its major counterparts. Economic confidence in the eurozone unexpectedly rose in September, helping the euro pare some of the losses seen earlier today. The index of executive and consumer confidence […]
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September 292015
USD/RUB to Break Out from Symmetrical Triangle
Russian ruble has been consolidating in a symmetrical triangle pattern since late August. USD/RUB reached its most recent peak on the daily chart on August 24 (71.60). The formation of the pattern went by the book except for the upper border declining faster than the lower border is rising. This instance of symmetrical triangle follows a rather long uptrend and represents a classic continuation pattern. The bullish breakout looks imminent. The yellow lines on the chart […]
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September 292015
EUR/USD Slows Rally
EUR/USD continued to rise today, though the pace of the rally slowed. In fact, the currency pair was falling in the first half of the trading session before bouncing back above the opening level. The dollar attempted to stage a rebound after data revealed an unexpected surge of the consumer confidence, by the attempt has failed. S&P/Case-Shiller home price index rose 5.0% in July from a year ago, in line with expectations and at almost the same rate as in June (4.9%). […]
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