Forex is an over-the-counter (OTC) marketplace where the currencies of the world are traded. In contrast to other prominent financial centers, forex facilitates trade without a centralized exchange, implementing an exclusively digital platform. Limited barriers of entry, ease of transaction and high market liquidity are its calling cards. Easily the world's largest market, the average daily traded volume in forex dominates all other global marketplaces. For April 2016, daily volume measured more than US$5 trillion in value, according to BIS. Of that amount, trade of major global currencies such as the United States dollar (USD), euro (EUR), Japanese yen (JPY)…
The pair is in consolidation mode after Wednesday’s US inflation-fueled surge, little changed by the UK GDP release today
The pair jumped yesterday after US headline CPI eased, which led to dovish market repricing around the Fed’s next rate move, but some officials pushed back
USDOLLAR daily price action has charted a head and shoulders top.
The pair dropped last week, after the gloomy BoE and blockbuster US Jobs report, but finds support during the current one, as markets brace for Wednesday’s US CPI inflation
The pair steadies today, after Friday drop due US unemployment decline to pre-pandemic levels and an overall strong jobs report, which boosts expectation for another big rate hike by the Fed
The EURUSD is rolling over as the daily looks to complete a continuation pattern.
The technical outlook has deteriorated significantly after the pair slumped in July and markets turn to a potentially consequential rate decision by the Bank of England on Thursday
The Japanese Yen attracts risk-off flows due to geopolitical jitters and the pair extends its decline to critical levels, in the aftermath of the Fed’s reserved stance
The pair starts the week on the front foot after Friday’s PCE-induced volatility, as markets gear up for Thursday’s interest rate decision by the Bank of England
The pair heads towards the conclusion of a very bad month and week, due to cool-down in Fed hike expectations and the negative Q2 GPD print from the US
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