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Wednesday, 30 July 07:06 (GMT -05:00)


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Foreign exchange market

CBA Downgrades AUDUSD Forecast


 

 

Commonwealth Bank of Australia (CBA) has recently downgraded its forecast for the Australian dollar exchange rate. The analysts of Australia’s biggest commercial bank expect the public spending to be cut down to 364.2 million dollars. This will be the first spending cut in more than 40 years.
 

 

 

 

 

 

The implementation of the new program aimed at reaching a 1.54b surplus will affect Australia’s economic growth. Consequently, the RBA will have to cut interest rates in order to stimulate the economy. This will weaken the Australian currency.
 
The CBA analysts expect AUDUSD to decline down to 0.9800 by mid 2012 and to recover up to 1.0500 by late 2012.
 
According to Masterforex-V Academy, the Australian Dollar keeps losing value against its US counterpart. AUDUSD is currently forming wave А(С) or shortened С inside the bearish wave А(С)/С of wave level Daily. The closest major levels of support are 0.9983, 0.9947, 0.9912. The current downswing will be completed once the price breaks and consolidates above 1.0142 (as shown below):

 

 

 

 

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Publication date: 28 July 09:19 AM

USDJPY: Dollar Strengthens Against Yen

 

Today, on June 28th, the US Dollar is gaining value against the Japanese Yen. In particular, the American currency gained 0,04% amid a relatively calm day in terms of new releases.
Publication date: 28 July 08:51 AM

EURUSD: Euro Gains Value, Price Hits 1.3441

 

The common European currency started this trading week on a bullish note. In particular, at the beginning of today's European trading session, the currency pair traded within the scope of the 1.3420-1.3438 price range. Still, later on, the common currency made a bullish attempt and rallied up to 1,3441 against the US Dollar, Market Leader reports.
Publication date: 28 July 08:31 AM

GBPUSD: British Pound Still Lose Value After UK Economic Figures

The British Pound lost a bit of its value against the US Dollar by 0,65% during last trading week even though the recent UK GDP report came out positive. In particular, the GDP report came out positive, thereby matching analysts expectations at 3,1% in Q2 2014 (y/y).

Publication date: 27 July 09:23 AM

USDJPY at Forex Rises after Statements of the Bank of Japan

 

Japan keeps showing certain success in economic recovery and suppression of deflation. Nevertheless, there remains some uncertainty, connected with external and internal factors, which leaves the question of further monetary policy, implemented by the Bank of Japan, open.
 
Publication date: 25 July 06:19 PM

Forex: British Pound Gains Value Amid UK GDP Figures

 

Today, on July 25th, the UK's Office for National Statistics released the key economic indicator - GDP. The GDP release concerned the 2nd quarter of 2014. It appears that the UK GPD gained 0,8% thi time. Actually, this is the 2nd time in a row the price is gaining value by 0,8%. It should also be noted that the actual figures matched expectations. 
 
At the same time, the year-over-year GDP growth in Great Britain reached 3,1%. The increase took place mainly due to the UK service sector as well as industrial production.
Publication date: 25 July 08:21 AM

Forex: Euro Consolidates Versus Dollar As IMF Drops Global Economic Projection

 

Today, on July 25th, the common European currency keeps on regaining a little bit of tis value lost against the US Dollar over the last few days. The currency pair is consolidating at this point. Close to the end of the European trading session, EURUSD traded 0,3% higher around 1.3470.

Publication date: 25 July 04:59 AM

FBS Introduces New Account Types

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Publication date: 25 July 01:44 AM

IQ Option Starts Tournaments of Turbo Options for Forex Traders

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Publication date: 24 July 05:36 PM

MasterForex-V Academy Gives Larson and Holtz a Test Drive

 

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Publication date: 24 July 09:03 AM