Forex
Impressive Q2 GDP growth turns Pound bullish.
The weak US employment report and the postponed Fed rate hike indirectly supported the rise of the Euro dollar against the major currencies, including the British Pound, for the most part of September. However, traders know that unless a currency
Read MoreRising food costs, high unemployment keeps Rand bearish
The uncertainty in the Fed rate hike coupled with mixed economic data kept the Greenback weak against its rivals, including the South African Rand, for most of the time during the second-quarter of this year. The news of South Africa
Read MoreAussie to remain strong as commodity prices firm up
On Wednesday, the Bank of Japan took an arguably unexpected path to weaken the Yen. Having been aware of the fact that the market will buy the Yen if the interest rate is sent further deep into the negative territory,
Read MoreGreenback strengthens on speculation of surprise Fed hike
For the past few weeks, a series of mixed US economic data has kept the Greenback range bound against the top five traded currencies. The reluctance of the traders to expose themselves to large positions, ahead of the monetary policy
Read MoreDecline in housing starts turn Canadian dollar weaker
In the beginning of September, lower than expected trade deficit enabled the Canadian dollar to rally against the New Zealand dollar, a commodity based currency. The NZD/CAD pair plunged from a high of 0.95808 to a low of 0.9434. However,
Read MoreEuro to decline on soft PPI data
The poor US economic data (lower than expected core retail sales and Producer Price Index (PPI) reading) reported at the beginning of August indirectly assisted the Euro to conquer a portion of the lost territory against the commodity based currencies
Read MoreGreenback turns stronger on Fed rate hike hint
On the 18th of July, we had recommended taking a long position in the USD/CAD pair near 1.2900 levels with a target of 1.3150. For binary traders, we had recommended purchasing a one touch call option. In a matter of
Read MoreKiwi dollar strengthens on decline in unemployment rate
On August 8th , we had recommended taking a long position in the NZD/CAD pair with a target of 0.9520. For binary traders, we had suggested purchasing a one touch call option. In a matter of one week, the pair
Read MorePound to rise on better than expected YoY CPI data
The surprise outcome of the Brexit referendum enabled even the currencies of fragile economies to strengthen against the Pound. The South African Rand comes under that category. The GBP/ZAR pair declined for nearly five weeks in a row, thereby making
Read MoreAussie to gain on diminishing chance of another rate cut
On 5th Aug, we had recommended taking a short position in the AUD/MXN pair at 14.40 levels with a target of 14.25 or even lower. For binary traders, we had suggested purchasing a one touch put option. Furthermore, we had
Read More