Market News

The euro was the big loser yesterday, even when most other majors were able to either eke out gains or at least hold their ground versus the buck. Today the buck is higher versus the entire pack.

Now that the USDCAD has plowed through a key support level, what will drive the CAD bulls to take the pair to parity? I’ve got a feeling that the Canadian retail sales report may just push it over the edge…

The dollar found itself on the defensive side of the fence yesterday, trying to hold off the advances of other major currencies. With high-impact data coming out today, will we see the dollar-selling bias continue?

Last month, we did notice that US consumer credit rose unexpectedly. It didn’t seem to get much press, as all eyes were focused on non-farm payroll.

While the markets focus on debt problems and rising commodities, another issue is lurking in around the Eastern corner. Last week, President Obama put the spotlight on China and their foreign exchange policy.

Good day forex friends! A couple of top tier economic reports are due today. See what’s up on our daily economic roundup!

Have a look at this gem from Ambrose Evans-Pritchard: Is China’s Politburo spoiling for a showdown with America? I won’t comment on it since we’ve included much of these same ideas frequently in the pages of Currency Currents already; nevertheless he presents these ideas forcefully and succinctly.

Last week, traders were on the lookout for possible currency intervention by the Swiss National Bank (SNB). With the EURCHF now falling below a key support level, are the SNB sharks getting ready to snap their jaws and attack the markets?

Howdy forex traders! Have you read up on the upcoming reports yet? There’s plenty in store for today, which means that price action could get wild! Check out my economic roundup!

How many times have you heard this little piece of inanity uttered: “Markets hate uncertainty.”? I heard it said on Friday as I was “passing through” one of the TV “financial” shows on my way to the Home and Garden Channel–the only place safe on the dial for me.

Y’all are probably wondering what happened last Friday, when the greenback got a major beating across the board. At first glance, it would seem that the sell-off was merely caused by risk appetite, when the US retail sales report beat expectations by a large margin.

With higher yielders bouncing back last Friday, what could be the name of the game this week? Will risk aversion reign? Or will risk appetite take over?

The US will stop making a political issue out of it when China unleashes that puppy to run freely. How about that? So let’s commend President Obama for calling out China’s currency policy which could be dubbed “politically dictated”, at least.

With the lack of major economic news the past few days, we’ve seen most pairs stick to their ranges. With the US retail sales report coming out today, will we see a ruckus in the forex arena?

Waiting on the trade balance for Canada, eh? Well, at 8:30 EST we’ll get Canadian capacity utilization, import and export figures and the trade balance.

Come Friday, we’ll see the results of the US retail sales report covering the month of February. Did spending pick up? Or did consumers decide to keep their hands in their pockets?

Hiyo Forex peeps! Several top tier economic events are on deck again today. See what’s up on our daily economic roundup!

Remember, macroeconomics is like working with Playdough. When you push on one spot, there is a similar or equal reaction in another…

In a few hours, we will witness the biggest event in Middle Earth’s… errr, New Zealand’s history (not really, I’m totally exaggerating)! At 8:00 pm GMT today, the Reserve Bank of New Zealand will announce its decision on the country’s benchmark interest rate.

The lack of top-tier reports in yesterday’s economic calendar was not enough to stop the majors from busting those strong moves. Get in the groove with today’s reports by reading my roundup!