Global forex market

Feb
13

Sovereign debt continues to dominate global forex markets

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Global forex markets are once again turning their attention to the sovereign debt issues in Europe, as the lack of progress towards any concrete agreement has now forced this issues back to the top of the agenda, as EU finance ministers meet once again this week, in an attempt to reach some sort of unified agreement. However, what was clear from last week’s price action,

Jan
20

Global forex markets ignore China’s GDP

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Global forex markets have been focusing on China overnight, with a raft of economic data having been released during the Asian trading session, the most significant of which has been the GDP ( Gross Domestic Product) which came in at 9.8%, rising 0.2% on the previous quarter in the last quarter of 2010. The market had been expecting this news, with European and UK equity

Jan
19

USD continues to weaken helping majors higher

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The bullish sentiment for the euro continued once again in today’s forex trading session, with the euro gaining strongly against the dollar, which continued in bearish tone on the usd index daily chart, falling below the key potential support level at 78.75, and now starting to look increasingly weak. Indeed with the recent double top at the 81.37 level, the longer term outlook for the

Jan
17

Dollar index recovers some composure

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An interesting technical picture is building on the dollar index daily chart, following last week’s five consecutive down days, which mirrored the previous week of five consecutive up days. So what are we to make of this price action over the last two weeks for global forex markets and the US dollar in particular. The US dollar index closed on Friday at 79.06, with a

Jan
15

China’s inflation continues to worry markets

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Last week was of course dominated by Europe and the extraordinary surge in the euro, which saw it climb against the dollar from a low of 1.2873, to end the week at 1.3387, with the twin catalysts of a better than expected debt auction in Portugal, coupled with a hawkish statement from ECB Governor Jean Claude Trichet, helping to propel the euro upwards, and taking

Jan
14

Global forex markets focus on euro

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The forex markets were dominated by once piece of news, and one only yesterday, as the comments from Jean Claude Trichet were instantly pounced on, as evidence of an impending rate rise in Europe, as the ECB Governor presented a hawkish view of the European economy, and signalling that inflation would remain at the top of their agenda over the next few months. In his

Jan
13

Where next for the Japanese Yen

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One of the interesting currency pairs to watch and trade in global forex markets last year was the USD/JPY, always a tricky pair, and made even more difficult by intervention from the Bank of Japan which was both overt and signalled to the market, as the central bank became increasingly concerned at the relentless progress of the Yen against the US dollar, along with other

Jan
12

Portugal bond auction better then expected

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The markets waited nervously this morning ahead of the bond auction in Portugal, and with the results now coming through it appears as this though this has gone slightly better then expected, with the markets absorbing almost 1.25bn of debt, virtually the total amount planned. This of course was the main event for today, with the problems in Europe continuing to dominate all the markets,

Jan
11

Eurozone worries continue to dominate forex markets

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Worries over the Euro remained the focus of attention once again in global forex markets today, with Portugal and Belgium remaining centre stage. Overnight, we saw some interesting price action on the euro denominated pairs, as both the Chinese and Japanese suggested they would be ready, willing, and able to step in and help purchase bonds should the need arise, which saw the euro bounce

Jan
10

Forex markets muted in today’s trading

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A quiet day of trading for the global forex markets today, as a lack of real news, coupled with the ongoing problems in Europe combed to focus attention on deeper structural issues, rather than any intra day news items. Even a speech by ECB president Jean Claude Trichet failed to lift the sentiment in Europe, following his assertion that a global recovery was indeed underway,

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