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 (Nov 4, 2015)

USD

The US dollar had a mixed performance but was mostly in the green despite weak data. 

Factory orders slumped by 1.0% in September, worse than the expected 0.8% fall, while the IBD/TIPP economic optimism index slipped from 47.3 to 45.5. For today, the ADP non-farm employment change report is due and a 183K gain is expected. Also lined up are the ISM non-manufacturing PMI, US trade balance, and a speech by Fed head Yellen.

EUR

The euro resumed its slide in recent sessions as more ECB members hinted at further easing. There were no reports out of the euro zone yesterday while today has the final services PMI readings on tap, along with the euro zone PPI. Another sharp fall in producer prices could spell bleak prospects for consumer inflation, potentially spurring more losses for the shared currency.

GBP

The pound returned some of its recent gains when the construction PMI came in slightly below expectations. The consensus was for a decline from 59.9 to 58.9 but the actual reading landed at 58.8. The services PMI is due today and a climb from 53.3 to 54.6 is expected, possibly allowing the pound to regain ground. 

CHF

The franc gave up its recent wins when SNB head Thomas Jordan began jawboning the currency once more. He pointed out that the franc is still trading at high levels, leading to speculations that the central bank might intervene sooner or later. There were no reports out of Switzerland yesterday and none are due today.

JPY

The yen advanced against most of its peers, except for the dollar and the pound, as risk appetite weakened. Japanese traders were out on a holiday yesterday but are back in action today, awaiting the release of the consumer confidence index which might rise from 40.6 to 41.1.

Commodity Currencies (AUD, NZD, CAD)

The Kiwi suffered a sharp selloff when the dairy auction showed another fall in prices and the New Zealand jobs report turned out to be a disappointment. The economy lost 0.4% in employment for the previous quarter instead of posting the projected 0.4% gain while dairy prices slumped by 7.4%. In Australia, retail sales came in line with expectations of a 0.4% gain while the trade balance beat expectations at a deficit of 2.32 billion AUD. US crude oil inventories are lined up and the commodity price reaction could affect Loonie movements.

By Kate Curtis from Trader's Way

Any Questions?
Email Us: sales@tradersway.com

bob@tradersway.pro
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