The Canadian dollar today extended its winning streak against the US dollar as the recovery in crude oil prices saw the US crude oil trading sideways in a tight range. The USD/CAD currency pair fell for the third consecutive session as crude oil prices recovered strongly from Monday’s crash despite concerns about global demand for the commodity. Figure 1 lists the approximate times (Eastern Time) of the most important economic releases for each of the following countries. These are also the times that players in the forex market pay extra attention to the markets, especially when trading based on news releases.
Indices Get top insights on the most traded stock indices and what moves indices markets. Cryptocurrencies Find out more about top cryptocurrencies cryptocurrency brokers to trade and how to get started. The Great Britain pound was soft today, erasing its earlier gains versus commodity currencies.
The Forex Market Map provide a quick visual view of the foreign exchange markets and how they are performing on the day, as well as how they are performing forex versus other major currencies. Provides more news and commentary on the forex and currencies markets from industry experts and trusted Barchart partners.
One of the great advantages of trading currencies is that the forex market is open 24 hours a day, five days a week (from Sunday, 5 p.m. until Friday, 4 p.m. ET). Since markets move because of news, economic data is often the most important catalyst for short-term movements. This is particularly true in the currency market, which responds not only to U.S. economic numbers, but also to news from around the world. Here, we look at which economic numbers are released when, which data is most relevant to forex traders, and how traders can act on this market-moving information.
The Forex Market Overview page provides a quick overview of today’s Forex and Currencies markets. This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments.
Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Crude oil is still deep in the red, which could mean more risk-off flows and downside for the positively correlated Canadian dollar. We’ve got a simple setup on today’s watchlist in AUD/JPY, which has channeling lower over the past week, ahead of PMI data from Japan and Australia. Discover the merits of different chart time frames in forex trading, and how to apply effective time frame analysis. The crude oil markets has seen some fightback as investors hope more producing regions will respond to collapsing demand with much reduced supply.
Therefore, it is important to keep on top of what the market is focusing on at the moment. The most common way to trade forex on news is to look for a period of consolidation ahead of a big number and trade the breakout on the back of the number. First Type I Financial Instruments Business Director of the Kanto Local Financial Bureau (Kin-sho) No. 2137 Institute Financial Futures Association subscriber number 1571. OANDA Australia Pty Ltd is regulated by the Australian Securities and Investments Commission ASIC (ABN , AFSL No. ) and provides and is the issuer of the products and/or services on this website.
WSJ editors around the world analyze the overnight economic and political events affecting global markets. The euro fell against the US dollar and the bigger-than-expected slump of the German business climate and the disagreement between the European Union members about how to tackle financial stimulus to the economy.
We’re also a community of traders that support each other on our daily trading journey. Today we’re checking out a solid forex uptrend in USD/CAD, likely supported by the recent oil crash headlines & weak economic updates around the world.
We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances. You may lose more than you invest (except for OANDA Europe Ltd customers who have negative balance protection). We recommend that you seek independent financial cryptocurrency advice and ensure you fully understand the risks involved before trading. Trading through an online platform carries additional risks. Forex analysis describes the tools that traders use to determine whether to buy or sell a currency pair, or to wait before trading.
Updated figures and news from OPEC will influence later, however. Easter Monday Leaves COVID-19 in Focus, with no Economic Data to InfluenceWith a number of key markets closed for Easter Monday, there are no stats to consider, leaving the majors in the hands of COVID-19 updates. A Busier Economic Calendar Puts the US Dollar and the Loonie in the SpotlightEconomic data from the U.S and the BoC’s monetary policy decision will draw attention today as the markets monitor the COVID-19 numbers.
- The EUR/USD currency pair crashed as traders reacted to the PMI prints that were lower than expected, reflecting the impact of the COVID-19 pandemic.
- Put a few traders in a room and chances are that they will trade the same asset or instrument differently.
- We are leading source for latest news on cryptocurrency along with technical analysis on the foreign currency, commodities and trading strategies.
- FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.
- You can be making the right move but the market may simply not have the momentum to sustain the move.
- Crude oil prices give commodity currencies an early boost ahead of inflation figures later today that put the GBP and Loonie in focus.
It’s important for you to consider the current Financial Service Guide (FSG), Product Disclosure Statement (‘PDS’), Account Terms and any other relevant OANDA documents before making any financial investment decisions. See the percentage change and rank of each currency relative to other currencies traded against it.
The Japanese yen was about flat versus major currencies today. The yen was trying to rise against commodity currencies but so far it had limited success. Negative domestic macroeconomic data and the rise of crude oil prices were working against the Japanese yen but the pessimistic mood, which persists among investors, was working in favor of the Japanese currency.
U.S. DOLLAR/ JAPANESE YEN
Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.
Asia-Pacific Currencies Pressured by Demand for Highly Liquid U.S. DollarThe rout in the financial markets and near-certain global recession caused by the coronavirus pandemic, fueled a run on demand for the highly liquid U.S. COVID-19 Remains the Key Driver, with UK and the U.S Stats forex brokers also in FocusIt’s a busier day on the economic data front, which will influence. Updates on COVID-19, however, will remain the key driver. We introduce people to the world of currency trading, and provide educational content to help them learn how to become profitable traders.
Keep track of the latest currency market moves as they develop. Stay up-to-date on breaking cryptocurrency as well as relevant financial developments. Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you.
Since the dollar is one side of many currency pairs, U.S. economic releases tend to have the most pronounced impact. Economic data tends to be one of the most important catalysts for short-term movements cryptocurrency in the forex market. OANDA (Canada) Corporation ULC accounts are available to anyone with a Canadian bank account. A brochure describing the nature and limits of coverage is available upon request or at
OANDA Asia Pacific Pte Ltd (Co. Reg. No K) holds a Capital Markets Services Licence issued by the Monetary Authority of Singapore. OANDA Australia Pty Ltdis cryptocurrency brokers regulated by the Australian Securities and Investments Commission ASIC (ABN , AFSL No. ) and is the issuer of the products and/or services on this website.
Goldman’s Marcus is Eyeing at Expansion in Consumer Banking Sphere
China’s foreign exchange regulator has warned that emerging markets need to muscle in on cryptocurrency-enabled illegal cross-border capital flows. A Florida resident has been charged by the CFTC for raising $1.6 million through a fraudulent cryptocurrency and forex trading scam.