Updated May 20, 2013 7:00:00 AM
Written by Kathleen Brooks
The silver price has been hammered today, spot silver has fallen more than 3% bringing it to a 2.5 year low. But what does this mean for the price of the grey metal? • The sharp fall in the silver price may have been due to reports of large liquidations of silver contracts in Japan. This could explain the sharp decline in price at the Tokyo open. • If the price decline was [...] Continue Reading ...
Updated May 20, 2013 5:00:00 AM
Written by Kathleen Brooks
The dollar ended last week with a bang. The dollar index (a broad-based measure of dollar strength) rose nearly 2%, and the USD is the best performing currency in the G10 for the past month. So where are the opportunities for short term traders? Fundamental: Economic data is thin on the ground today. There is nothing of note out in the European session and the US session dishes up the Chicago Fed National Activity [...] Continue Reading ...
Updated May 20, 2013 12:12:11 AM
Written by Chris Tedder
AUDUSD’s break of the trading range which kept it hostage since August 2012 was quick but not painless. A market wide flood to the USD sent long aussie investors scrambling for cover, with AUDUSD smashing support levels with ease. The pair took out support at the bottom of its prior trading range, before annihilating parity. In fact, since the sell-off began AUDUSD has not been able to close in the green over a one-day period, [...] Continue Reading ...
Updated May 19, 2013 6:02:31 PM
Written by Chris Tedder
EURUSD may be in the midst of a bearish ascending triangle formation in the short-term. This suggests we may see some downside price in action in this pair in coming sessions. However, if price action breaks above the top of this triangle formation it may invalidate this scenario. In the long-term, the pair’s 50day SMA has broken below it 200day SMA – the golden cross - and price action recently broke through the bottom [...] Continue Reading ...
Updated May 17, 2013 3:15:00 PM
Written by Chris Tevere, CMT
The Kiwi has continued to decline over the past few days, largely following in the footsteps of the Aussie, and further downside could still be on the horizon. That said, this move may be attributed to not only USD strength, but also NZD weakness as the market has slowly been coming around to the notion we highlighted on Monday, “the implementation of such (macro-prudential) measures essentially takes the possibility of future rake hikes off the [...] Continue Reading ...
Updated May 17, 2013 5:30:00 AM
Written by Kathleen Brooks
On Thursday we mentioned that USDCAD was approaching 1.0230 – a key resistance level. This key level, so where can it go now? Fundamental perspective: This dollar continues to recover on the back of some hawkish commentary from Fed members. San Francisco Fed President John Williams waded into the debate last night and said that the Fed may start to buy bonds in the next few months. Williams’ comments come after Fed member Charles [...] Continue Reading ...
Updated May 17, 2013 12:12:26 AM
Written by Chris Tedder
Yesterday’s surprisingly good GDP and better than expected machine orders figures today beg the question, is Abenomics working? Japan’s economy grew at the fastest pace among all G7 countries in Q1. GDP increased 0.9% during the first quarter of this year, compared to an expected 0.7% rise and a revised 0.3% in the prior quarter. Also, machine orders increased 14.2% in March, beating an estimated gain of 3.5%. At face value it certainly looks like [...] Continue Reading ...
Updated May 16, 2013 6:47:48 PM
Written by Chris Tedder
NZDCAD has been selling off hard since late April due to a broader flood out of the kiwi, which overshadowed a push higher in USDCAD. Whilst the main driving force behind recent weakness in NZDUSD and strength in USDCAD was a surge towards the US dollar, the NZ dollar was also hit by news that the RBNZ had intervened in the currency market to devalue the kiwi and may do so again. Furthermore, NZDCAD broke [...] Continue Reading ...
Updated May 16, 2013 5:30:49 PM
Written by Chris Tedder
After the yen, the Australian dollar was the worst performer against the US dollar last month, while the euro was the best performer. This combination sent EURAUD from around 1.2220 to a high of around 1.3120. In recent days weak economic data out of Europe led to a slight pullback in the pair (eurozone GDP fell 0.2% according to advance Q1 figures and German Q1 GDP increased less than expected at 0.1%), and it is [...] Continue Reading ...
Updated May 16, 2013 4:10:00 PM
Written by Chris Tevere, CMT
AUDCAD has continued to descend after breaking below the key 1.0300/25 level of support highlighted on May 6th. This Aussie weakness has continued over the past 24-hours as AUDUSD broke below the 0.9860/90 support zone highlighted yesterday: 23.6% retracement, 200-week sma and triangle support. Currently, AUDCAD is testing parity, with the 200-week sma just below around 0.9995. Considering AUDUSD broke below its respective 200-week sma overnight, it would not come as a major surprise [...] Continue Reading ...
<< Previous 1 2 3 4 5 Next >>
Disclaimer: The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.
Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that FOREX.com is not rendering investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. FOREX.com is regulated by the Commodity Futures Trading Commission (CFTC) in the US, by the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investment Commission (ASIC) in Australia, and the Financial Services Agency (FSA) in Japan. Please read Characteristics and Risks of Standardized Options.