Market News

Dollar bulls charged back into the markets today after U.S. Treasury Secretary Steven Mnuchin hinted that a “major tax reform” will be announced “very soon.”

The Kiwi was the best-performing currency of the earlier Asian session. However, the Kiwi had a reversal of fortune during the morning London session, and ended up at the bottom of the heap.

If you’re looking for an opportunity to pillage some pips from the pound, then just know that the U.K.’s retail sales report will be released tomorrow. And if you plan to trade this event and need to get up to speed, then make sure to read up on today’s Forex Preview.

Except for the Kiwi which was boosted by a strong inflation data, the major currencies were mostly stuck in tight ranges during the Asian forex trading session.

Last month, it looked like EUR/JPY and the S&P 500 were parting ways while the other currencies and their correlated assets looked like they were reviving their relationships. However, price action since then showed that the opposite eventually happened since EUR/JPY and the S&P 500 were dancing together again.

The pound and the Loonie got the short end of the stick during the U.S. session after an MP vote failed to boost the former while sharp drops in oil prices dragged the latter lower.

The pound was still the rising star of today’s London session. However, compared to yesterday’s monster moves, the pound’s star power ain’t as bright. As for the other currencies, they mostly had mixed and choppy price action. Although the Aussie and the yen were exceptions.

Brexit-related news took a back seat during the past few weeks. However, Brexit got pushed to the front once more after Theresa May called for a snap election yesterday. What’s that all about? And why did the pound skyrocket as a result? Well, read on and find out.

Profit-taking was the name of the game during the Asian session, as forex players brace themselves for another round of potentially volatile European and U.S. sessions.

The Canadian and U.S. Dollars lost steam during the U.S. session after weak economic reports and overall risk aversion weakened their demand while a strong dairy auction boosted the New Zealand dollar.

No data? No problem! The pound was the star of today’s morning London session, thanks to Theresa May’s surprise call for early elections. Meanwhile, the Loonie tracked the slide in oil prices and ended up as the worst-performing currency of the session.

With not a lot of data scheduled, forex traders tuned in to the RBA’s latest meeting minutes printed today. And good thing they did, because the central bank sure had a few points to make!

The Aussie lost pips against its major counterparts after the RBA’s meeting minutes painted a gloomier picture than the initial policy statement suggested.

Large speculators raised the value of their net long bets on the Greenback after two weeks of decreases. And the latest COT report shows that the Greenback took ground from most of its peers, although the yen and the Swissy continue to push back.

The dollar was king of pips during the U.S. session, as comments from the U.S. Treasury Secretary restored some confidence in the markets.

Europe is closed for the Easter Monday holiday, so trading conditions were a bit tight. Today’s morning London session wasn’t a complete snooze fest, though, since the Kiwi showed some directional movement throughout the session.

Hello, forex friends! Now that China’s data dump is mostly over, it’s time for another roundup of the most important economic reports.

Asian session traders caught up to the anti-dollar sentiment from the previous week, so the yen became the strongest contender amidst the risk aversion in the market.

The yen just steamrolled its forex rivals this week. Meanwhile, the Greenback got whupped, since it lost out to everything else. So, what was driving price action on these currencies? And how did the other currencies fare this week? Well, time to find out!

Tomorrow at 12:30 am GMT Uncle Sam will print its retail sales report for the month of March. What the heck does the report say anyway and why should you care? Here’s a neat Q&A!