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0.7137 0.0034 (0.48%)
21:54:48 (GMT)
Bid 0.7128
Ask 0.7147
Open 0.7103
High 0.7140
Low 0.7094
 

July 02, 2015| FX Empire Analyst - Barry Norman

Currency Markets Show No Rhyme Or Reason

The currency markets in the Asian session showed no real rhyme or reason as traders booked profits and prepared for the US nonfarm payroll report due later today. The US dollar eased a bit off its highest level in a month. The greenback soared over the 96.50 level after the release of ADP private jobs information showing that jobs created were higher than expected. This is a leading indicator for today’s official report which is being released a day early...
June 30, 2015| FX Empire Analyst - Barry Norman

Stress & Safe Haven Returns To Currency Markets

Monday started out with traders running for the hills, but throughout the day, most speculators fears turned to calm. Many started to believe that as always with the Greece situation a deadline is not a deadline and that the current situation would not lead to Grexit or a default. Some analysts say that the IMF has the capability of extending the Greek deadline by 30 days but the IMF did not confirm. Many leaders of the EU said they were...
June 15, 2015| FX Empire Analyst - Barry Norman

Monday Morning Market Moves – Gold & US Dollar

Gold traders took advantage of the dip in prices late last week to buy up the cheap commodity ahead of the greenbacks gains. The greenback fell last week to end just above the 95 price level and added 26 points this morning as traders begin to prepare for the upcoming two day Federal Reserve meeting beginning on Tuesday. Gold added $1.70 to trade at 1180.90 hugging its support level at 1180. Silver gained 58 points to trade at 15.83 remaining...
June 11, 2015| FX Empire Analyst - Barry Norman

Stocks And Currency Have An Active Session

Asian stocks climbed for a second day as traders hope that Greece will forge a debt deal, while Japanese debt paced a retreat in Treasuries. New Zealand’s dollar and the Korean won slipped after both countries cut lending rates. Wall Street rose sharply on Wednesday, lifting the Dow to its biggest one day gain in more than a month, as technology and financial shares pulled ahead and investors embraced encouraging signals about Greece’s financing talks. The gains were widespread and...
June 10, 2015| FX Empire Analyst - Barry Norman

Forex Traders Focus On Central Banks

Tuesday trading focused on Greece headlines and disappointing inflation data from China. Eurozone GDP was a nonevent and the US JOLT jobs data helped stop the fall of the US dollar as the greenback ended trading close to flat for the day.  Asian markets are trading lower on account of weak US Dollar that prompted the investors to book profits on its recent robust job claims data which raised expectations of a rate hike. Furthermore, soft inflation data from China...
May 29, 2015| FX Empire Analyst - Barry Norman

US Data & Greece Dominate Currency Markets

The US dollar finally took a breather after a strong rally sparked a week ago on better than expected US inflation data and supportive comments from Janet Yellen. The dollar eased 10 points in the Asian session to trade at 97.03. This week there has been a steady flow of stronger than forecast economic data from the US. On Thursday pending home sales soared above forecast better than it had been in 9 years.  Pending Sales of Existing Homes in...
May 27, 2015| FX Empire Analyst - Barry Norman

US Dollar Continued To Rally On Better Than Expected Data

Global markets reacted on Tuesday to a broad range better than expected US economic data. Federal Reserve Chair Janet Yellen was clearer than ever on Friday that the central bank was poised to raise interest rates this year, as the U.S. economy was set to bounce back from an early-year slump and as headwinds at home and abroad waned. Asian markets are trading lower as string of positive data from the US has raised rate hike bets in the world’s...
May 15, 2015| FX Empire Analyst - Barry Norman

Euro Holds Its Momentum

The euro is trading flat this morning after moving above the 1.14 level as the US dollar declined after a rash of lackluster economic data.  The US Dollar weakened by 0.1 percent yesterday due to the release of mixed economic data from the nation that showed improvement in employment and subdue producer price inflation that boosted confidence that the Federal Reserve will delay hiking interest rates.  The euro strengthened by 0.5 percent yesterday as continuous increase in German bond yields...
May 14, 2015| FX Empire Analyst - Barry Norman

Weak US Dollar Gives Global Currencies A Boost

Wall Street closed on flat note, recovering from its early losses after disappointing retail sales data for the month of April. European markets pared early gains, after the market open solidly higher on back of better than expected GDP numbers from much of Eurozone. But market lost its early gains due to sell off seen in bond markets. Asian stocks were mixed today with key benchmark indices in Singapore, Hong Kong, Indonesia and South Korea rose by 0.07% to 0.78%...
May 12, 2015| FX Empire Analyst - Barry Norman

Asian Currency Markets Active On Tuesday

Greece remains the main focus of the European markets today dominating the headlines like they did on Monday. The euro fell to trade at 1.1154. The fall was limited after news that Greece had approved the transfer of 750 million euros to the IMF to pay its interest payment avoiding default and gaining a bit more time to find a solution. The US dollar gains also weighed on the euro as the greenback climbed to 95.13. The Eurogroup finance ministers...
May 11, 2015| FX Empire Analyst - Barry Norman

Forex Traders Overloaded By Global Events

Markets kicked a busy week on Monday as traders continued to evaluate the outcome of the UK elections, along with a surprise announcement from the Peoples Bank of China. In Europe today, traders will keep a close eye on the Eurogroup meeting as Finance Ministers review Greece’s fate while the Bank of England meets to decide on interest rate increases. Greek politicians say they are hopeful that Eurozone ministers will recognize the fiscal progress that the country has made. Eurozone...
May 08, 2015| FX Empire Analyst - Barry Norman

Chinese Trade And UK Exit Polls Keep Forex Traders Busy

The first market stressor is now behind with the UK elections down to the final count. The most recent exit polls show that David Cameron will remain as Prime Minister and form a coalition with Nick Clegg once again, although Clegg’s party lost a majority of its seats, it holds just enough to give Cameron what he needs.  Sterling speculators showed their relief almost immediately with the pound soaring 216 points to trade at 1.5460. The British pound hit $1.5448...
April 24, 2015| FX Empire Analyst - Barry Norman

Limited Economics Data Puts The Eurogroup Meeting On Center Stage

On Friday morning Asian markets are trading slightly on the lower side on account of weakness seen in the US Dollar Index after the release of lackluster U.S. economic data. However, a fresh record was set for Nasdaq Composite thereby closing at an all-time high which benefitted the Asian markets from further fall. US stocks touched 15 year high to surpass levels during dotcom burst supported Energy, Utilities and technology stocks amid weakened dollar and rebounding oil prices. There was...
April 21, 2015| FX Empire Analyst - Barry Norman

Solid Corporate Earnings And A Stronger US Dollar Helps Support Markets

The US dollar is in recovery mode along with the equities market. The greenback is trading at 98.27 with gains on Monday and in early trading today. Wall Street rallied on Monday as earning and Chinese stimulus helped investors to regain confidence.  Asian markets are trading higher due to the release of optimistic corporate earnings which led to positive Wall Street performance. Also, the move from China’s Central bank to cut the reserve requirements provided further strength to the Asian...
April 15, 2015| FX Empire Analyst - Barry Norman

ECB Meeting To Be The Main Market Event Today

The upcoming ECB meeting will be the prime focus of the markets today. The euro is trading at 1.0633 down by 24 points in the Asian session while the US dollar added 15 points to reach 99.16. Asian markets are trading mixed ahead of an anxiously-awaited reading on China's growth pulse which came out weak. Also, weakness was seen in the US dollar after a disappointing data release from the nation. China’s GDP slows down to 7.0 percent for the...
April 09, 2015| FX Empire Analyst - Barry Norman

US Dollar Continues Its Recovery In The Asian Session

Thursday morning Asian traders continued to push the US dollar which is trading at 98.35 after speculators read the Fed minutes in a positive light. Even though the minutes indicated that there would most likely not be an interest rate increase at the June meeting, the members seemed set on raising interest rates before the end of 2015. The dollar index, which measures the greenback against the yen and five other major currencies, was down for most of the session...
April 01, 2015| FX Empire Analyst - Barry Norman

The Old Adage Holds True “March Comes In Like A Lion And Out As A Lamb” For Forex Traders

Wall Street fell due to profit taking following yesterday's rally, with stocks extending the volatility seen in recent weeks. Renewed worries about the outlook for interest rates may also have weighed on the markets. US markets ended negative due to renewed worries on the outlook for interest rates along with lower-than-expected ‘Chicago business activity’ data for March. U.S. stocks closed with sizable losses Tuesday, leaving the Dow in the red for the year’s first quarter. Some analysts blamed the session’s...
March 25, 2015| FX Empire Analyst - Barry Norman

The Euro Is The Winner In The Currency Race

The euro broke above the $1.10 level briefly on Tuesday but could not sustain and eased to trade in the mid 1.09 level after strong European PMI data pointed to the beginnings of a recovery for the Eurozone.  In the US session yesterday strong US data gave the greenback momentum to offset the euro gains. The euro is currently exchanging at 1.0936 with the US dollar at 97.29. After posting its biggest gain in three years last week when the...
March 09, 2015| FX Empire Analyst - Barry Norman

Asian Currencies Take A Big Hit

Currency markets outside of Asian start off the week flat. The US dollar is holding onto its 12 year high at 97.73 while the euro is steady at 1.0842 its lowest point in recent memory. Data on Friday showed that the US economy added 295,000 jobs in February, the 12th month of payroll gains above 200,000, for the longest stretch in 20 years. Economists had forecast an increase of 240,000. The unemployment rate fell to 5.5%, a 6½-year low, from...
March 04, 2015| FX Empire Analyst - Barry Norman

The US Dollar Continues Its Historic Rally

The greenback traded at 95.44 yesterday and is trading at 95.50 in the Asian session.  The dollar scaled a high of 95.57 intraday.  Traders continue to push the dollar as more and more Fed members support an interest rate increase in June. With the FOMC due to meet in the middle of the month traders are betting in favor of a change in forward guidance. There was little action to Janet Yellen’s speck overnight as she reiterated her testimony of...
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