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January 22, 2015| FX Empire Analyst - Barry Norman

Forex Markets On A Roller Coaster On Central Bank Decisions

The big day has arrived as European Central Bankers and EU representative began final behind the door negotiations on the stimulus package to be unveiled by the bank today. Meanwhile markets have been distracted by unexpected events around the globe. Just a week ago the Swiss National Bank shocked the markets by removing their floor on the EURCHF to allow the currency to free float after a 3 year peg. At the same time the bank moved to negative interest...
January 16, 2015| FX Empire Analyst - Barry Norman

The Euro Tumbles After A Surprise From The SNB

The euro plummeted as low as 1.1568 before recovering to trade at 1.1622 after taking a severe hit on the surprise announcement from the Swiss National Bank. The Swiss franc tumbled to trade at 0.8831 down over 13% in a single day against the stronger US dollar. The EURCHF tumbled equally to trade at 1.04 after the SNB said they would no longer support the currency at the 1.20 floor. The Swissy added 15% against the euro. The bank said...
January 15, 2015| FX Empire Analyst - Barry Norman

Equity and Currency Markets On A Roller Coaster Ride

Late on Wednesday global financial markets went on a roller coaster ride. US retail sales missed expectations by a wide margin upsetting the “Apple Cart”.  Asian equity markets are trading on mixed to positive note with the Nikkei up by 1.46% while Hang Seng is nearly up by 0.2%. US markets started the day with another weak session however to recoup most of the losses during yesterday's session. Stock markets around the world have tumbled, with the Dow industrials near...
January 14, 2015| FX Empire Analyst - Barry Norman

Eurozone Problems About To Blow Across Borders

The US dollar kept its crown tapping another day of gains to trading at 92.47 at this writing after US data continued to show the economy was moving full steam ahead. Worries from the Eurozone might push off a June interest rate increase but did not seem to prevail.  The euro fell by 63 points to trade at 1.1773 after comments from ECB member that Mario Draghi would have the ability to buy government bonds, but that does not mean...
January 09, 2015| FX Empire Analyst - Barry Norman

Busy Data Day For Currency Traders

The US dollar index remained on the higher side buoyed by economic optimism and positive expectation from the non-farm payrolls data that is to be released today. The euro had a volatile session, continuing to slide breaking the 1.18 mark while pound has depreciated considerably after the Bank of England kept interest rates unchanged yesterday. The pound is trading this morning at 1.5095 in the green as the euro added 12 points to reach 1.1804.  The US dollar eased a...
January 02, 2015| FX Empire Analyst - Barry Norman

Bank of Japan, ECB and US Fed In Focus In Early 2015

The US dollar continued to rally on the first day of the New Year. 2015 kicked off with the greenback being powerful. The US dollar surged to 90.96 and could easily break above the 91 level.  The US Dollar Index traded higher by 0.4 percent on Wednesday owing to rise in risk aversion in the market sentiments that led to rise in demand for the low yielding currency. However, mixed economic data restricted sharp upside.  The currency touched an intra-day...
January 01, 2015| FX Empire Analyst - Barry Norman

Currency Traders Prepare For 2015

Welcome to 2015, it’s been a very strange year in the financial markets, with the Dow and the S&P setting record after record. The US dollar recovered to multiyear highs, while the US economy boomed and the labor market surpassed pre-crisis levels. China ended the year on a disappointing note reducing their growth in 2015 to a 6% level and most likely missing their reduced forecast of 7.4% in 2014. The Eurozone is likely headed towards a recession as Mario...
December 31, 2014| FX Empire Analyst - Barry Norman

Currency Traders Look Ahead To 2015

As traders prepare for a short day we begin to look forward to 2015. Leading economists David Levy is pro for the US, writing in the just-published December Forecast, said that the United States economy will enter 2015 with “fairly good momentum” but that global threats continue to loom large. “Various government policy actions or inaction, among other influences, have slowed the global deterioration somewhat and have so far prevented the global deceleration from reaching the point of no return...
December 24, 2014| FX Empire Analyst - Barry Norman

Ho..Ho..Ho – US GDP Sends Greenback To 5 Year High

The US dollar continues to rally giving Americans and investors a sweet holiday gift. The dollar hit a five year high as consumers sentiment surged as most think that the US economy is booming and have long forgotten the stress of the past few years.  The US dollar surged to a high of 90.43 and is currently trading at 90.28. With gasoline, natural gas and heating oil at long time lows consumers are spending, spending and spending more. Each day...
December 23, 2014| FX Empire Analyst - Barry Norman

Last Big Data Day Of The Year

Wall Street saw some further upside on Monday, after gaining for three consecutive sessions, reflecting optimism about the outlook for the U.S. economy ahead of release of GDP and new home sales data. European markets ended on a positive note, with expectations of further stimulus from the European Central Bank, with the yield on Spanish government debt sinking to a record low in quiet holiday-time trading. Today there is a wide array of data on the economics calendar as the...
December 11, 2014| FX Empire Analyst - Barry Norman | Comments (2)

Currencies Vacillate From Risk On To Risk Off

The US dollar dipped in the Asian session giving up a few points to trade at 88.23 after breaking above the 89 level last week as traders return to risk on trading. Earlier this week OPEC and Greek election news spooked traders, which combined with lackluster data from China and Japan, traders moved to the safety of gold and the Japanese yen. China's inflation hit a five-year low in November, stoking expectations that Beijing will move more aggressively to head...
December 09, 2014| FX Empire Analyst - Barry Norman

The Greenback Eases A Bit As Traders Book Profits

The US dollar regained its footing after falling Monday in the North American session as traders sold off to book profits after the greenback touched 89.30. The euro fell to trade at 1.2304 against the stronger dollar. On Monday comments by the ECB weakened the euro.  The US dollar began to edge higher once again aided by a media report the Federal Reserve might take a rhetorical step toward tightening at its meeting next week. Analysts said the dollar got...
November 28, 2014| FX Empire Analyst - Barry Norman

The Greenback Continues To Rally On Black Friday

Wall Street was closed yesterday on Thanksgiving holiday. European stocks ended on two month high, as Germany jobless rate reached a record low. Energy stocks fell the most as OPEC decided to keep it oil output target. Asian markets are trading on a mixed note this morning after the US markets have remained closed for thanksgiving on Thursday. The release of the statement from OPEC in which they have not announced any cut in production. OPEC has left production at...
November 27, 2014| FX Empire Analyst - Barry Norman

US Dollar Eases Into Thanksgiving

The US dollar eased as traders prepared for the Thanksgiving holiday. The US dollar fell after a slew of lackluster data hit the wires on Wednesday afternoon. The greenback entered the Christmas season at 87.68. Asian markets are trading higher this morning after the US markets have posted a new high even after the lack luster data that was released yesterday evening. Most of the data that was released yesterday from the US economy came in lower than expectations. Mortgage...
November 26, 2014| FX Empire Analyst - Barry Norman

The OECD Economic Report Shakes Up Forex Markets

The US Dollar is trading just under the 88 range after holding near record highs this week. US traders will begin to leave for the long holiday week after lunch on Wednesday as markets will see a significant drop in volume with most traders out of pocket until Monday to celebrate the Thanksgiving Holiday and the kickoff of the Christmas shopping season with Black Friday and Cyber Monday on the cards.  There are a slew of US data due today...
November 25, 2014| FX Empire Analyst - Barry Norman

Legal Problems Brewing For ECB Stimulus Programs

Wall Street climbed on Monday, with retailers including Urban Outfitters gaining as investors bet lower gasoline prices will translate into increased sales as consumers shop for holiday gifts. Asian indices traded mixed on Tuesday as momentum cooled from the previous session's China-inspired rally. Worldwide business confidence slumped to a five-year low, with company hiring and investment intentions at or near their weakest levels in the post-global financial crisis era, according to a new survey. Equities extended all-time highs and European bonds...
November 21, 2014| FX Empire Analyst - Barry Norman

Currency Round Up – Global Data

Although US data continued on a strong note on Thursday the US dollar traded lower by 0.1%. Upbeat market sentiments which led to decline in demand for the low yielding currency capped sharp upside in the DX. The currency touched an intra-day high of 88.01 and closed at 87.67 on Thursday. US Core Consumer Price Index (CPI) grew to 0.2 percent in October as against a rise of 0.1 percent in September. Unemployment Claims slipped marginally to 291,000 for the...
November 14, 2014| FX Empire Analyst - Barry Norman

German GDP and Eurozone Inflation Keep Traders On Edge

Asian currencies are trading on a negative note with respect to the dollar. The US dollar index continued to dominate global currencies in yesterday's trade after the jobless claims came in close to expectations. Dollar index is currently trading at 88.00 adding 17 points this morning. The euro and the pound are trading at 1.2455 down 21 points and 1.5678 off by 32 points respectively. Important economic data are to be released from Germany and Europe in today’s session. GDP...
November 12, 2014| FX Empire Analyst - Barry Norman

Wednesday Morning’s Wake Up Call – AUD-JPY-NZD-EUR-GBP-USD

Looking closely at the recent flow to and from currencies and the US dollar traders can see that a similar cycle had played out during 1996-2000, when a firmer US Dollar and weaker Asian and EM growth made speculators shun hard assets like commodities and real estate and alternative currencies like gold. Currently, China along with host of other Asian and EM economies are weak and cannot shoulder another commodity reflation cycle. At the same time, a stronger US Dollars...
November 03, 2014| FX Empire Analyst - Barry Norman

Morgan Stanley Ups The Odds on ECB Action

All the markets are abuzz ahead of this week’s European Central Bank meeting. Just a week ago, the US Federal Reserve ended its 6 year bond buying program as the US economy improves. Just days later, to the surprise of global investors Bank of Japan Governor Kudora announced a massive new program to help jump start the Japanese economy. The Bank of Japan announced it will buy 80 trillion yen of government bonds each year, up from 60-70 trillion yen...
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