Ready to Start Trading?

Open a Live or Demo account online in just a few minutes and start trading on Forex and other markets.

Apply online

Any Questions?
Contact us:

phone: +1 849 9370815

email: sales@tradersway.com

Join Us in Just 1 Minute!

Download MT4
MT5 Terminal

Forex Major Currencies Outlook (December 11, 2013)

USD

The US dollar was a big loser in yesterday’s trading, as risk appetite seemed to benefit most other major currencies. There were no major reports released from the US economy then, as traders took the opportunity to book profits at key support and resistance levels. For today, only medium-tier events are scheduled, which suggests that the dollar might have trouble regaining ground.

EUR

The euro kept edging higher against its major counterparts, despite the mixed data seen from the region. French industrial production came in weaker than expected at -0.3% while Italian industrial production beat expectations with a 0.5% uptick. Another round of medium-tier reports are lined up for the euro zone today and, unless we see a set of bleak figures, the euro might still have a chance at pushing higher.

GBP

The pound rebounded in yesterday’s trading, even as U.K. economic data disappointed. The manufacturing production report printed the expected 0.4% uptick while the trade balance fell short of expectations and showed a wider deficit. There are no economic events lined up for the UK today, except perhaps for BOE member Weale’s speech, so pound pairs might be in for a bit of consolidation.

CHF

The franc continued to pummel its way against the other major currencies, as the SNB showed no discomfort with their currency’s current levels. USD/CHF sank below the .8900 major psychological mark while AUD/CHF is attempting to break .8100. There were no economic reports released from Switzerland yesterday and there are none due today.

JPY

The yen lost ground to its major counterparts in today’s Asian trading session as the Nikkei showed signs of rebounding. As for economic data, Japan’s figures have been coming up short recently, which is leading traders to speculate about an increase in stimulus from the BOJ. Earlier today, Japan’s machinery orders came up short of consensus and showed a mere 0.6% uptick. No other reports are due from Japan for the rest of the day.

Commodity Currencies (AUD, NZD, CAD)

The comdolls showed a bit of strength and took advantage of dollar and yen weakness in yesterday’s trading when data from China came in mostly in line with expectations. For today, Australia’s Westpac consumer sentiment showed a decline of 4.8% which isn’t good for the Australian dollar. A bigger mover could be the RBNZ statement in the next Asian trading session, as traders are expecting the central bank to jawbone the Kiwi. Canada has no economic data lined up.

By Kate Curtis from Trader's Way

Any Questions?
Email Us: sales@tradersway.com

bob@tradersway.pro/pl
Quotations
Instrument Bid Ask Spread
Instrument Bid Ask Spread
Instrument Bid Ask Spread
Instrument Bid Ask Spread

2023 Martin Luther King Holiday Schedule

Due to the Martin King Holiday on 16 January, 2023, market activity and liquidity may be lower than usual....

Learn more

Join Us in Just 1 Minute!

Download MT4MT5 TerminalMetaTrader for Mac
TradersWay's Facebook TradersWay's Telegram Channel TradersWay's Twitter TradersWay's Instagram
bob@tradersway.pro/pl