Category: US/Midday Session Brief

US Session Forex Brief, November 23 – Sentiment Turns Negative as More Problems Arise in Europe

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Europe has two major fundamental problems at the moment – the Irish border regarding Brexit and the Italian budget for next year which is unlikely to be accepted by the EU. EU’s Budget Commissioner Moscovici was convinced yesterday that they could reach an agreement with Italy and Italian politicians are still calling for dialogue with the EU, not war, as Di Maio said this morning, but both sides are standing firm on their position when it comes to the 2.4% budget deficit, so I don’t see how they can find common ground. An Italian official was rumored to resign over this issue today.

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Forex Signals US Session Brief, November 21 – Yesterday’s USD Reversal Pauses as Traders Try to Figure Out the Next Move

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The US Dollar has been sold off last week and the selloff continued on Monday as well. Although yesterday, the USD decided to fight back and see how far it could push the other currencies down against itself. As a result, the USD gained around 100 pips across the board and, in some pairs such as EUR/USD, it gained even more. It is easily distinguishable that this was just a broad-based USD move rather than a turnaround in the market sentiment because risk currencies such as the AUD, the NZD and the Euro went down against the USD pretty swiftly without much resistance and the same happened with safe-haven assets such as the JPY. So, it was neither a risk move nor a run for safety, but rather a comeback in the USD. Continue reading “Forex Signals US Session Brief, November 21 – Yesterday’s USD Reversal Pauses as Traders Try to Figure Out the Next Move” →

Forex Signals US Session Brief, November 20 – Financial Markets Getting Increasingly Tense

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In the last couple of weeks, the financial markets have calmed down after some nervous times in October. But in recent days, the air has been getting heavy although we haven’t seen major moves. Today, we are finally starting to see some interesting moves as the markets’ concerns grow. One thing is certain where markets are concerned, that the demand for safe havens will increase and that’s why we have seen some strong moves in safe-haven assets recently. Continue reading “Forex Signals US Session Brief, November 20 – Financial Markets Getting Increasingly Tense” →

Forex Signals US Session Brief, November 19 – Markets Wait for a Breakthrough Today

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The economic calendar is pretty light today with Eurozone construction output as the main economic data, which by the way, posted a nice jump of 2% for September and an increase of 4.4% on an annual basis. The Brexit saga continues today as well. The situation has evolved a bit in the UK as Theresa May’s leadership might not be challenged for now. About 40 leadership letters have been sent from May’s Conservative Party to challenge her in a vote of no-confidence, but there need to be 48 letters to call a vote in the Parliament. Although, the new Brexit Secretary David Davis is expecting the Brexit deal to be voted against, which would put us back at square one. Continue reading “Forex Signals US Session Brief, November 19 – Markets Wait for a Breakthrough Today” →

Forex Signals US Session Brief, November 16 – The Market Cautiously Waits for Brexit but the USD Suffers

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Yes, this week has been all about Brexit. But thankfully, this drama is coming to an end, or perhaps not, no one knows for sure. Surely the markets don’t know right now and the price action tells the story. We saw a 100 pip climb in the Euro earlier this week and a 200 pip jump in GBP pairs as news of a Brexit deal started coming out. But yesterday, the GBP dived around 300 pips as rumours about a vote of no-confidence for Theresa May surfaced in British politics.

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Forex Signals US Session Brief, November 15 – The Brexit Deal Could be Dead in its Infancy

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On Tuesday, everyone got excited as British Prime Minister Theresa May announced that an agreement had been reached between the negotiating teams of EU and the UK regarding Brexit. As a result, GBP surged 200 pips higher, pulling the Euro up as well. The sentiment improved and the market turned against the USD as it often does in such occasions. Although, we started hearing comments from UK politicians yesterday indicating that they were suspicious about the deal. Theresa May was trying to keep the details secret, especially regarding the Irish border backstop. That offered some high volatility in forex, with [[EUR/USD]] trading on an 80 pip range while the range in [[GBP/USD]] was around 200 pips. Continue reading “Forex Signals US Session Brief, November 15 – The Brexit Deal Could be Dead in its Infancy” →

Forex Signals US Session Brief, November 14 – Finally, a Breakthrough in Brexit Negotiations but the Market Is Skeptical

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The US Dollar has been on a bullish run for some time and it picked up more pace after the FOMC statement last Thursday. Although, yesterday we saw a pullback in USD. In fact, it started as a climb in GBP/USD as Brexit comments started coming out in the US session, but then it turned into a broad USD selloff.

If you have noticed, this has happened pretty often recently. When something changes fundamentally for a currency, it starts climbing against the USD and then all the other major currencies start climbing against the Buck, turning it into a USD selling frenzy. That is what happened during the US session yesterday and during some of the Asian session this morning.

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Forex Signals US Session Brief, November 13 – Great UK Earnings Report but Markets Remain on Hold for Brexit

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Brexit news has been hitting the wires today since early in the morning. We heard rumours from the EU and from British Politicians that a deal is out of reach this week or in November, and then we heard more rumours that a solution could be found this week on the Irish backstop. But if there is one thing that we have learned during these last two years, it is that we should believe nothing until everything has been signed and sealed. That’s what the market is doing as well. Until a month ago, GBP pairs used to jump higher on every Brexit-related rumour, but now the market is ignoring them all. Continue reading “Forex Signals US Session Brief, November 13 – Great UK Earnings Report but Markets Remain on Hold for Brexit” →

Forex Signals US Session Brief, November 12 – The Market has Reached its Verdict and it has Decided to go with the USD for now

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Today was expected to be a quiet day since the economic data is very light during the European session while the US and Canada are off for Veterans/Remembrance Day. But, the market has other things in its head and, as you can see from the main charts, we have had quite some action in forex and in other financial markets today. The US Dollar got beaten up about a week ago before and during the US midterm elections and it was in limbo between that time and the FOMC statement release on Thursday evening. Continue reading “Forex Signals US Session Brief, November 12 – The Market has Reached its Verdict and it has Decided to go with the USD for now” →

Forex Signals US Session Brief, November 9 – USD Gets Back on Track After the FOMC Statement

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The effect of the US midterm elections and the shift of the Congress to the Democrats on financial markets wore off pretty quickly and yesterday, the attention shifted to the FED. The Federal Reserve was due to release its November statement in the evening so the market was pretty quiet all day yesterday.

The statement was pretty much the same as the last one, basically a carbon copy of the one from September. But, the USD made a strong bullish move after the FOMC statement was released. In fact, the FED saw fixed investments moderating as compared to the previous months. So what was all the fuss about last night?

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