Learn Forex Trading

The Safe heaven currencies - the US Dollar, Japanese Yen and Swiss franc, were among the best performing currencies last week as risk aversion dominated market sentiment. While Data in the US has been softening in recent months, economic data from emerging Asia has continued to be strong, second quarter GDP for most Asian regions beat expectations and other data has mostly been strong. As Expected the Pound has continued its pullback against the safe heaven Dollar and the view taken is this has scope to continue as the Pound ...Forex Rate - Forex and Exchange rates

written by Trading Teacher

National average mortgage rates remain historically low and there appears to be no end in sight to the Fed’s low to no interest rate policy. A less than stellar Commerce Department report on the second quarter gross domestic product Friday (August 27) morning is the latest contributor to the sense of pessimism hanging over the US economy. The revised GDP report showed growth of just 1.6 per cent for the US in the second quarter. A higher volume of imports and slow inventory build up were targeted as reasons for the ...Forex Rate - Forex and Exchange rates

written by Trading Teacher

Improved risk sentiment over the last 24 hours has helped support the Pound and push the currency higher against both the euro and the dollar as the Pound trades up from its confined ranges only a week ago. This week has seen little activity on the UK domestic front, leaving sterling vulnerable to swings in risk sentiment and the trend in cross trades. Today, though, does see the CBI’s distributive trades survey and markets will be looking to see if this indicates a continuation of the recent firm trend in ...Forex Rate - Forex and Exchange rates

written by Trading Teacher

The main focus in the UK yesterday was on the release of the minutes of the BoE’s August MPC meeting. There had been some speculation that one or more members might have voted for an increase in quantitative easing (QE). The lack of formal support for further QE saw sterling initially react positively, though it gave up much of its gains in later trading on a realisation that the minutes really shed little new light on monetary policy. While in a tight rage against the euro, sterling starts the day ...Forex Rate - Forex and Exchange rates

written by Trading Teacher

Sterling traded lower against all 16 of the most actively traded currencies by the London close yesterday with inflation figures doing nothing to change the view that UK rates remain on hold for some time yet. The release today of the minutes of the August Bank of England policy meeting has reinforced this outlook as policy members voted 8-1 to keep Interest rates on hold. As anticipated Andrew Sentence has voted for a rate hike for the third consecutive month, whilst stating that consumer prices will need to be closely ...Forex Rate - Forex and Exchange rates

written by Trading Teacher

The euro and pound have both been in full retreat against the US dollar on Wednesday (August 11). One euro is worth just $1.2845 after trading as high as $1.3226 on Tuesday. A British pound nets $1.5636 after a $1.589 peak Tuesday. While the announcement of a $3 billion housing aid package from the Obama Administration might have assisted the dollar’s move on Wednesday, technical resistance and correction appears to be a primary driver of the sharp moves. The euro faced strong resistance in the $1.32-1.33 level and appears to be ...Forex Rate - Forex and Exchange rates

written by Trading Teacher

The price of gold is currently (August 5) just below $1,195 after it briefly touched $1,200 on August 4th. Gold prices have been on a rebound after more than a $100 downward correction from the all-time high in late June of $1,261. The gold spot rate hit $1,157 just over a week ago on July 28th. However, after hitting the nearly two-month low, the price of an ounce of gold has jumped nearly $40. Thursday’s New York close of $1,194.70 was down 90 cents from Wednesday’s closing price of $1,195.60. Tuesday’s New ...Forex Rate - Forex and Exchange rates

written by Trading Teacher

The current price movement remains constructive for the pound with cable breaking the 1.5637 level - the 50% Fibonacci of the Aug’09 – May ’10. Analysts are expecting further gains in the short-term, after Sterling broke above its 200-day moving average last week. Therefore, a significant break above $1.5836 would trigger a further upward move towards $1.5970, the highest level in almost six months. Services PMI tomorrow will be the key release of the week for the UK - anything printing 55 or above should see the next leg ...Forex Rate - Forex and Exchange rates

written by Trading Teacher

A volatile end to the week both in FX and other asset classes. In the end the closes were ok in terms of EURUSD bouncing back quite significantly from Friday’s intraday low and equities in the U.S. closing unchanged having been down during the session. Overall the grind continues, accelerated slightly by month end flows on Friday which were primarily purchases of GBP. When we broke above 1.5530 I stated that I thought we would move slowly up to a target of 1.5800-50. EUR/GBP is similar, with GBP quietly ...Forex Rate - Forex and Exchange rates

written by Trading Teacher

After a good run of better than expected eurozone data and a shift in risk trends in the financial markets the EUR/USD traded at an 11 week high overnight to touch $1.3004 - a key target point for speculators. It is clear that investors are turning their attention away from Euro-zone soveriegn debt risks and more towards the corncerns that surround the US economic recovery and key fundamental and technical developments accross the markets. With market sentiment hit by yesterday’s disappointing US consumer confidence report and with this evening’s ...Forex Rate - Forex and Exchange rates

written by Trading Teacher