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0.7111 0.0019 (0.27%)
21:54:54 (GMT)
Bid 0.7098
Ask 0.7123
Open 0.7093
High 0.7165
Low 0.7092
 

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...
February 26, 2015| FX Empire Analyst - Barry Norman

Forex Traders Prepare For The End Of A Volatile Month

After two days of testimony and headlines the following quote best sums up Janet Yellen’s outlook. If the economy continues to strengthen and officials become more confident that low inflation will rise toward their 2 percent goal, the US Federal Reserve “will at some point begin considering an increase in the target range for the federal funds rate,” Fed chair Janet Yellen has said. “The employment situation in the US has been improving on many dimensions,” The Wall Street Journal...
February 24, 2015| FX Empire Analyst - Barry Norman

Forex Market Focus – Janet Yellen & US Senate

The US dollar is trading in the green keeping pace with gains on Monday as traders prepare for Janet Yellen’s testimony before the US Senate Banking Committee. The US dollar is trading at 84.70 up by 0.15% in the Asian session.  US markets ended slightly lower as a decline in oil prices weighed on the energy stocks. European markets ended on a flat note after rising earlier in the day, dragged by disappointing results of HSBC and decline in shares...
February 19, 2015| FX Empire Analyst - Barry Norman

The US Dollar Eases On Sentiment Shifts

The US dollar continued to ease in the Asian session as traders seem disappointed about their interpretation and expectations of the Federal Reserve Minutes released yesterday. The US dollar is currently exchanging at 94.05 just a week from its record highs around the 95.40 range. The FOMC minutes continued to indicate that the Fed was not in a hurry to raise interest rates, which is exactly what Janet Yellen has been saying all along.  The greenback was on the defensive...
February 11, 2015| FX Empire Analyst - Barry Norman

Equities & Currencies Unsettled Ahead Of Greece

Wall Street rallied, Tuesday on hopes of a possible debt agreement between Greece and its major creditors. Also, better than expected profit numbers for Coca-Cola and its strong performance in American markets boosted Dow Jones and S&P. Thomson Reuters data shows that 73 per cent of S&P 500 companies have topped earnings expectations, above the 69 percent beat rate in the past four quarters. At the close of trade, the Dow Jones was up by almost 140 points or 0.8...
February 06, 2015| FX Empire Analyst - Barry Norman

Forex Traders Fairly Optimistic This Friday

The US dollar gained a few points to trade at 93.74 in the Asian session as traders prepare for a busy day of data. Eurozone industrial production will hit the markets early in the session and is expected to print at 0.4% as the euro is trading at 1.1469 and is not expected to see any major volatility from the data. The key Eurozone mover will remain news from Greece as the conflict and tensions between the ECB and Germany...
January 27, 2015| FX Empire Analyst - Barry Norman

Currency Markets Rebalancing After Market Surprises

With the ECB and the BoC behind traders are now focusing on the Federal Reserve meeting on Wednesday. The US dollar remains near a record high above the 95 level, printing at 95.21 this morning in the Asian session after testing the 95.45 level after the ECB announcement last Thursday.  Markets are also expecting to hear from the Reserve Bank of New Zealand. The tone of the Reserve Bank later in the week is going to be a little bit...
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...
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