The foreign exchange market (forex, FX, or currency market) is a global decentralized market for the trading of currencies. This includes all aspects of buying, selling and exchanging currencies at current or determined prices. In terms of volume of trading, it is by far the largest market in the world
Forexlive Americas forex news wrap:
Forex news for NY traders on February 24, 2017
In other markets today:
The data was light today. Canada CPI was better than expectations. The USDCAD fell to the days lows and then rebounded and retraced the declines.
Week Ahead Dollar Mixed as Trump Pro-Growth Policies Remain Vague
Trump to Speak Before Congress on Feb 28 The U.S. dollar is mixed against majors as the Federal Open Market Committee (FOMC) minutes pointed to an interest rate hike “fairly soon” but were contrasted with cautious comments from Treasury Secretary Steven Mnuchin that have reduced expectations of pro-growth policies being introduced in the short term. […]
Fitch affirms Greece at CCC
Greek complying with terms of European Stability Mechanism program
US stocks claw back losses and close higher on the day. Dow 11th straight record.
S&P up 0.15%. Nasdaq up 0.17%. Dow up 0.05%
The Dow extended its record closes to 11 straight days with an 11.44 point increase or 0.05% gain.
IN the other indices:
A technical look at the AUDUSD into the new trading week.
High levels were probed this week. Price comes back down.
The AUDUSD for the second week in a row, move up to a resistance area defined by swing highs between 0.7730 and 0.7755.
CFTC commitment of traders report: EUR shorts increase as Paris election may be an influence
Forex futures net speculative positions as of the close of business on Tuesday Feb 21, 2017
The EUR shorts increased by 11K in the current week. That represented the largest net speculative increase of the major currencies this week.
EURUSD trades to new session lows
Falls below the 100 hour MA and triggers some selling
The EURUSD fell below the 100 hour MA at 1.0563 after 5 tests, and extended to 1.0557 in quiet trading. I would not call the extension a momentum move, but it is a new low, it did break a MA line th…
The technical look at the NZDUSD into the new trading week
2 weeks of consolidation..
The NZDUSD peaked in February at 0.7374.
Looking back in time there was a swing high back in August 2016 at 0.7679 and highs in September 2016 at 0.7663 and 0.7668. IN November the price moved above those highs on…
EUR/JPY falls to lowest since November, what’s next
Wednesday’s low breaks
No one wants to touch the euro with so much political risk on the calendar. Yes, Marine Le Pen is way behind and the last two days of polls showed Macron making some headway.
Baker Hughes oil rig count 602 vs 597 prior
Weekly drilling rig data
– Highest since Oct 2015
– Prior oil rigs were 597
– Natural gas rigs 151 vs 153 prior
– Prior natural gas rigs were 153
In the weekly data from the DOE, for the first time since 2015 as rising prices continue to attract more …