Currency News

USD/CHF lowered ahead of crucial US data

US dollar shorted positions against the Swiss franc during Thursday trade session, as focus was moving to crucial economic data from US, expected later today. USD/CHF pair fell to 0.9634 during European trade session, lowest value since May 16th, then jumped off to 0.9648. The cross was expected to receive support at 0.9578, May 16th […] Read more

Is Japan’s monetary policy a ”big experiment”?

Ben Broadbent, a member of the Bank of Englands Monetary Policy Committee, stated that Japans monetary policy was a big experiment, which could lead to market volatility. “Japan, of course, is in the midst of what amounts to a big monetary experiment, so I think we should see the volatility in equity markets and indeed […] Read more

US dollar sunk against Japanese yen

USD/JPY pair decreased in value during Thursday trade session, as Japanese bond yields reached one year highs and data showed that China’s manufacturing sector shrank for the first time in seven months during May. The pair fell to 101.42 during Asian session, which was lowest value since May 14th, after which recorded certain gains, increasing […] Read more

Euro advanced against US dollar on Purchasing Managers’ Index (PMI) data

EUR/USD pair rose gradually to a session high at 1.2878 during European trade session, after Purchasing Managers Index data was released for France and Germany. The pair was expected to find support at 1.2800-1.2775, while resistance levels were expected near yesterday session highest value, at 1.2998-1.3020. Earlier it was reported that Advance Manufacturing Purchasing Managers […] Read more

EUR/USD overlooked Bernanke’s statement

The euro registered a sharp jump against US dollar during early American session, reaching 1.2998, highest value for todays trade, after which lost gained positions, falling down to 1.2862. Major reason was FED Chairman Ben Bernankes testimony earlier today, as he remarked FED could not tighten easing policy yet. EUR/USD was expected to receive support […] Read more

Bernanke announced it was too soon to tighten purchasing policy

FED Chairman Ben Bernanke expressed his support of the continuing economic easing policy in his speech at FEDs May meeting today. According to his statement, such course had been favorable for US Economy, but he also warned that Federal Reserve Bank could not compensate negative influence, imposed by federal budget restraints. Bernanke announced that while […] Read more

US dollar expanded sharply versus Canadian counterpart on weak economic data from Canada

USD/CAD pair registered a sharp rise to ten-week high during European afternoon trade, after disappointing Retail Sales data from Canada. The pair rose to 1.0332. Resistance levels were expected at 1.0355, while support was to be received at 1.0220. Official data was announced today, regarding Canada Retail Sales, as it became clear that this indicator […] Read more

Euro advanced to two-year high versus Swiss franc after Thomas Jordan statement

EUR/CHF pair advanced to two-year high during Wednesday trade session, after Swiss National Bank (SNB) Chairman Thomas Jordan announced that SNB would stick to EUR/CHF cap at 1.2000 and the possibility of negative interest rates if that was necessary. The pair hit 1.2614 during afternoon session in Europe, which was highest value since May 20th […] Read more

EUR/USD gained ground ahead of Bernanke testimony on economy

During Wednesday European session the euro gained positions versus US dollar as markets focused on FED chairman Ben Bernanke statement at the U.S. Joint Economic Committee today. The pair traded above 1.2900, as during the early hours of European trade session EUR/USD increased to 1.2939, and during the afternoon phase of the session reached 1.2957. […] Read more