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1.4887 -0.0017 (-0.11%)
2:21:49 (GMT)
Bid 1.4887
Ask 1.4888
Open 1.4905
High 1.4914
Low 1.4880
 

April 20, 2015| FX Empire Analyst - James Hyerczyk

EUR/USD Retreats on Greek Debt Concerns

The EUR/USD weakened on Monday, after a strong rally last week, as investors expressed concerns that negotiations between Greece and other Euro Zone nations have gotten nowhere over the short-run, putting the Euro Zone at risk to a Greek default. There are no major economic reports so all eyes have shifted to Greece and the possibility that the nation will default on its debt if an agreement isn’t reached by the end of the Euro group meeting on May 11...
April 17, 2015| FX Empire Analyst - James Hyerczyk

Gold Firm as U.S. Economy, Dollar Weaken

June Comex Gold rallied on Friday on the heels of the weaker U.S. Dollar. The Greenback was under pressure because of concerns over the timing of the Fed interest rate hike. Soft U.S. economic data is raising concerns that the Fed will abandon a June rate hike, shifting the timetable to perhaps September or October. Despite concerns about Greece, the EUR/USD continued to rally on Friday. Most of the move has been attributed to short-covering. The lingering possibility of a...
April 16, 2015| FX Empire Analyst - James Hyerczyk

Short-Covering, Weak U.S. Economic Data Boosts Euro and British Pound

A weaker U.S. Dollar led to a strong surge by the Euro and British Pound while gold surprisingly weakened along with crude oil. Weak U.S. economic reports were behind the rally by the EUR/USD and GBP/USD although technical traders will say it was oversold conditions. On Thursday, the U.S. continued its string of less-than-par economic reports this week with the release of weaker-than-expected building permits, unemployment claims and housing starts reports. Losses would have been steeper without the better-than-expected Philly...
April 15, 2015| FX Empire Analyst - James Hyerczyk

Draghi Comments Drive Down Euro

The EUR/USD traded weaker on Wednesday after the European Central Bank announced interest rates would remain at historically low levels. ECB President Mario Draghi helped drive the Forex pair lower after he signaled the central bank will stay the course with its stimulus program. Draghi also added that quantitative easing is helping the Euro Zone’s economic recovery and will boost inflation. He also seemed to indicate that he would like to see the full stimulus program put to work. These...
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 14, 2015| FX Empire Analyst - James Hyerczyk | Comments (2)

Crude Oil Firms on Expected Drop in U.S. Output

June Crude Oil futures firmed on Tuesday on speculation that the U.S. oil output, which has fueled the global oversupply of crude, may soon start falling. The weekly supply reduction won’t be enough to offset the huge supply, but it could encourage further short-covering. Yesterday, the market rallied on news from the U.S. Energy information Administration, which estimated total crude-oil production from seven key shale regions in the country will likely decline by 57,000 a day in May from April...
April 13, 2015| FX Empire Analyst - James Hyerczyk

Weak Economic Data from China and Japan Boosts U.S. Dollar

The U.S. Dollar strengthened on Monday on the heels of weak economic data from China and Japan. Early in the session, China released a report which showed its exports fell by 15% from a year earlier in March while imports dropped 12.7%. This indicates sluggish domestic and foreign demand. The drop in exports fell well below the median forecast of a 10% increase. The decline in imports was largely expected. Data from Japan showed that core machinery orders fell 0.4%...
April 10, 2015| FX Empire Analyst - James Hyerczyk

Short-Covering Rally Helps Gold Recover Earlier Loss

A small setback by the U.S. Dollar may have triggered today’s short-covering rally by June Comex Gold futures on Friday.  Today’s $14.00 rise has put the market up for the week after facing three straight days of selling pressure. On Monday, gold gapped higher in reaction to the April 3 weaker-than-expected U.S. Non-Farm Payrolls report for March. This report raised concerns about the timing of the Fed interest rate cut. The selling pressure was triggered by hawkish comments from Fed...
April 09, 2015| FX Empire Analyst - James Hyerczyk

Possible Fed Rate Hike in June Pressures EUR/USD

The EUR/USD was down for a third straight day as traders continued to react to minutes from the Fed’s monetary policy meeting in March along with commentary from several of its officials. The minutes indicated a rate hike in June remained on the table despite weakening economic data.  The minutes also showed that there were several disagreements by various Fed members with some calling for a rate hike as early as June and others looking for a date further in...
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 08, 2015| FX Empire Analyst - James Hyerczyk

EUR/USD, GBP/USD Post Modest Gains ahead of Fed Minutes

Position-squaring ahead of the release of the Fed minutes from its March monetary policy meeting is helping to give the EUR/USD and GBP/USD a boost on Wednesday. The report is scheduled to be released at 2:00 p.m. ET. Look for increased volatility at that time. Last month’s Fed statement and subsequent comments from Fed Chair Janet Yellen painted a dovish picture which led to a weaker U.S. Dollar, underpinning the British Pound and Euro. Today, traders will be looking for...
April 07, 2015| FX Empire Analyst - James Hyerczyk

Euro Hit By Profit-taking; Fresh Shorting

The EUR/USD sold off sharply on Tuesday after European traders returned from Easter vacation with selling on their minds. Worries about issues with Greece seemed to outweigh the weaker-than-expected U.S. Non-Farm Payrolls report which could delay a rate hike by the Fed. In other news, Spanish Services PMI came out better-than-expected. Italian Services PMI also nudged higher. The Euro Zone Final Services PMI report was slightly below the estimate at 54.2. Finally, Sentix Investor Confidence showed a reading of 20.00...
April 06, 2015| FX Empire Analyst - James Hyerczyk

EUR/USD Higher Despite Low Volume and Volatility

The EUR/USD is holding higher on Monday after posting a strong gain on Friday in reaction to the weaker-than-expected U.S. Non-Farm Payrolls report for March. Volume and volatility are down but this may be in reaction to the extended European Easter holiday. On Friday, the Labor Department fueled a surge in the EUR/USD, GBP/USD and gold after it reported the economy added 126,000 new jobs in March. This figure was well-below the 248,000 estimate and its lowest reading since 2013...
April 06, 2015| FX Empire Analyst - Barry Norman

The US Dollar Remains Under Pressure Over Easter Holidays

Most markets remain closed today for the long Easter holiday. Trading is expected to be light even when US markets open today but reaction to the disappointing jobs data in Friday will continue to overshadow market sentiment. Japanese traders have however responded sending the JPY to climb at 118.96 against the US dollar with the US dollar tumbling 93 points to trade at 96.84. The euro is trading at 1.0971 after surging to the 1.10 level after the release of...
April 03, 2015| FX Empire Analyst - James Hyerczyk

Weak U.S. Jobs Data Sinks Dollar

The Euro and British Pound rose and gold is expected to follow-through to the upside on Monday after the Labor Department said the U.S. economy added a weaker-than-expected 126,000 jobs in March, the worst reading since December 2013.' The weak report likely means that investors will take a June interest rate hike by the U.S. Federal Reserve off the table. The number was so unexpectedly low that some traders are casting doubt on a September hike. Analysts had expected 243,000...
April 02, 2015| FX Empire Analyst - James Hyerczyk

U.S. Dollar Weakens Ahead of Friday’s Bank Holiday, NFP Report

Trading light in most Forex and commodity markets on Thursday. The markets are closed for Good Friday tomorrow and ahead of the U.S. Non-Farm Payrolls report. Traders will get their first opportunity to react to the jobs report on Monday’s opening. Yesterday’s weak ADP private sector jobs report caused many analysts to lower their estimates for the NFP report. Traders now believe the economy added 220K new jobs in March. The previous estimate was 247K. The unemployment rate is expected...
April 01, 2015| FX Empire Analyst - James Hyerczyk

Crude Oil Rallies on Iran Nuclear Deal Worries

Commodity and Forex markets hemmed and hawed for a third day on light trading ahead of the Good Friday holiday and the U.S. Non-Farm Payrolls report on Friday. The major players are on the sidelines already and are not likely to be back until Monday when they get a chance to react to the jobs report. Traders seem to be providing just enough volatility to make it worth coming in to work today with many being careful not to make...
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 31, 2015| FX Empire Analyst - James Hyerczyk

Possible Iran Nuclear Deal Pressures Crude Oil

Crude oil futures traded lower on Tuesday as investors reacted to a possible nuclear deal with Iran and six world powers. The deal would lift sanctions on Iran and lead to increased oil exports which would increase global supply. The pace of negotiations is strong because of the self-imposed deadline set for the end of the day. This is encouraging the United States, Britain, France, Germany, Russia and China to work feverishly to reach a deal with Iran. The sticking...
March 30, 2015| FX Empire Analyst - James Hyerczyk

Strong Housing Data Drives Up U.S. Dollar; Currencies, Commodities Under Pressure

The U.S. Dollar rose on Monday driving down gold, the Euro and the British Pound. A better-than-expected U.S. Pending Home Sales report was the primary market driver. According to this report, pending home sales posted a 3.1 percent gain in February. U.S. Personal Income in February was in-line with the estimates, posting a gain of 0.4 percent, above consensus estimates of 0.3 percent. Consumer spending rose 0.1 percent. Later this week, investors will get an opportunity to react to the...
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