Sterling and Aussie are best performers

4 September, 2013

The main themes challenging currency markets are the major central bank policy meetings tomorrow y the European Central Bank, Bank of England and Bank of Japan. This should drive volatility higher by tomorrow.

Euro is flat leading into this ECB meeting, with many expecting a dovish tone by ECB Chief Mario Draghi and rates are expected to remain on hold at 0.50 percent.

The pound rallied after strong UK Services PMIs, however the Bank of England policy meeting tomorrow is key risk. If the bank reiterates its dovish stance this is likely to weigh on sterling. However the key interest rate is unchanged at 0.50 percent  and the asset purchase program on hold at £375bn.

GBPUSD is up 0.5 going into the US session on the back of the stronger than expected services PMI (which rose to 60.5 in August). 

Yen is generally weak leading into the Bank of Japan meeting. The BOJ is unlikely to shift policy too much but investors are being cautious nevertheless.

USDJPY has so far failed to break above key resistance at 100.0 yen, just touching 99.79 in early European trading before easing back down to 99.45 yen.

In the longer term, market expectations of diverging monetary policy between the US and Japan should push USDJPY well above 100.

The Aussie extends gains today, and is up 2 percent after better than expected GDP data as well as a recent uptick in China data to support it. China is a major export destination for Australian goods. AUDUSD rallied to a high of $0.9169, the highest since august 19. 

Source link  
Aussie declines despite shrinking Australian trade deficit

The Asian session was calm as the economic calendar was light and most investors were positioning ahead of key risk events later this week, primarily the US nonfarm payrolls report on Friday...

USD/JPY slips as Nikkei falls in risk-off market after disappointing China PMI data

The first full trading week of 2014 began today, with Japan opening for the first time after a two-week holiday...

Technical Analysis On Major Currencies By FXNET

The pair extended the positive trading, whereas it approached 61.8% correction at 1.3625

Euro Hits Fresh 1-Month High After German Inflation Data

The dollar rose above 102.00 yen for the first time since May 29, while the euro flirted with the key $1.36 handle and hit a new four-year high within striking distance of 139.00 yen...

Aussie Powers Through & Dollar Hits New 6-Month High Against Yen

The best performing currency during Thursday’s Asian session was the Australian dollar which jumped against its US counterpart after strong Australian business spending data. Private Capital Expenditure increased by 3.6% quarter-on-quarter despite expectations for a decline by 1.1%...

Sterling and Euro Outperform Vs US Dollar

The main currency of the day was the sterling which outperformed against the dollar and euro, as well as against the yen after being boosted by strong UK second quarter growth data...

Euro Steady Around $1.35

The euro was stronger today particularly against the dollar and the pound. While there were no economic data releases today from the Eurozone to explain the move, there were some headline news which affected sterling and dollar...

Yen Up Against Dollar After Weak US Data

The yen was supported by safe haven demand today after the release of a slightly dovish Bank of Japan policy meeting minutes. The minute from last weeks meeting showed some concern about Japans economic outlook and whether the central bank 2% inflation target could be met...

EUR/JPY Hits A New 4-Year High

The dollar remains bullish against the yen, while the euro hit a new four-year high against the Japanese currency in todays Asian session...

In the past 24 hours Bitcoin has gained 1.65% and reached $3557.52288295. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -0.4129% and is now at $1.1327. Start trading and making money on Forex today.

In the past 7 days Ethereum has lost -18.52% and is now at $92.6234683295. Have the most popular cryptocurrencies compared online 24/7.

Top Brokers offering Forex Market Analysis

Forex Currencies Forecasts

Top 10 Forex Brokers 2018

# Broker Review
6FIBO GroupFIBO Group84%