Forex Trading

The pair is trading around 1.2450, close to the two-year lows on the resurgence of the Brexit uncertainty. The overnight comments by Irish Finance Minister, saying that the prospect of disorderly Brexit is now a significant risk, added to the market concerns and continued weighing on the Sterling. The already weaker sentiment deteriorated further in the wake of the recent disappointment from the UK macro data. On the other hand, the ongoing recovery in the US Treasury bond yields - triggered by diminishing odds for an aggressive Fed rate cut move later this month, underpinned the US Dollar demand and further collaborated to the pair's slump to the lowest level since the early-January flash crash low. Going ahead for today it will be a very busy UK Data Docket, with most affecting of all will be the UK GDP figures, which is widely expected to rise but will that enough to pull the cable currency higher, that is to watch out for. on the other side,  in the North-American...

The pair was trading on a high on the back of  Job data released last Friday which showed a sharp rebound in U.S. job growth in June and reduced expectations that the Fed will cut interest rates by 50 basis points when it meets at the end of July. But today have erased some gains on the news of US-Mexico and Japan-S. Korea trade concerns. The Dollar started its move north in the last weekend as investors continue to think of of a not so aggressive rate cut from the Federal Reserve this month. The currency pair closed at 108.72 on Monday, confirming an inverse head-and-shoulders breakout. The pattern marks a successful transition from bearish lower highs, lower lows pattern to bullish higher lows and higher highs pattern. Markets will be looking for clues from the FOMC minutes this week and in Federal Reserve governor, Powell's, comments when he testifies to Congress for two-days. So it all depends on the FOMC views the scenario going ahead, the market ...

EUR/USD is trading below the  1.1300 in a quiet trading session on the back of the US holiday. The pair did witness a short jump in reaction to disappointing US  ADB data - showing that private-sector employers added less-than-expected 102K new jobs in June while the ISM non-manufacturing PMI fell to 55.1 as compared to 55.9 expected and 56.9 previous.The pair also came under more pressure in the wake of increasing bets that the European Central Bank (ECB) will also cut interest rates to bolster the region's economy. With the news circulating  that IMF Director Christine Lagarde - seen  as a policy dove, has been nominated to be the next European Central Bank President took the German bund yields to record lows and affected negatively on the common currency. From a technical perspective, the 1.1310-20 region now seems to have emerged as an immediate strong resistance, Immediate support is pegged near the 1.1275-70 region . Which if broken mi...