Forex Day Trading Blog

FX Market Summary 10-25-2013: Dollar limps into the weekend

October 25th, 2013

EUR/USD initially held steady during the Asian session on Friday before pushing higher once again with a move to fresh 2013 highs just above 1.3830 as the dollar remained generally vulnerable.

The German IFO business confidence index was slightly weaker than expected with a dip to 107.4 for October from 107.7 previously following five consecutive monthly increases. There was some market disappointment surrounding the releases, although it was still historically buoyant. Read the rest of this entry »

FX Market Summary 10-24-2013: Euro hits fresh highs

October 24th, 2013

The Euro held firm during the Asian session on Thursday and then pushed sharply higher at the European open as technical factors continued to have an important impact. Short-term players managed to push the pair to fresh 2013 highs above 1.38 which was instrumental in triggering further stop-loss gains to just above 1.3820. Read the rest of this entry »

FX Market Summary 10-23-2013: Dollar remains out of favour

October 23rd, 2013

After initially holding steady against the yen on Wednesday, the dollar dipped sharply with lows around 97.25. The Japanese currency gained some support from concerns surrounding losses within the Chinese banking sector and bank-default rumours as risk appetite suddenly evaporated. Read the rest of this entry »

FX Market Summary 10-22-2013: EUR/USD hits 2013 highs

October 22nd, 2013

Trading conditions were inevitably extremely subdued during the European session on Tuesday ahead of the delayed US payroll data due soon after the US open. EUR/USD was confined to very narrow ranges of less than 20 pips around 1.3670 with no attack on any technical levels of note. Read the rest of this entry »

FX Market Summary 10-21-2013: No traction for the dollar

October 21st, 2013

As has been the case for much of the past week, both the dollar and yen battled for the honour of weakest currency during Monday as they remained firmly out of favour in currency markets.

The yen was unsettled by a weaker than expected trade report as the seasonally-adjusted deficit increased to JPY1.09trn for September from JPY0.82trn the previous month as import demand remained very strong and export growth faltered. Bank of Japan Governor Kuroda maintained his commitment to a loose monetary policy which also undermined the yen and USD/JPY moved to challenge resistance above the 98 area. Read the rest of this entry »