Forex News

(Last Updated September 20, 2021 8:22 GMT)

Today’s Main Forex Events

Here’s a look at the main macroeconomic data coming out later today that may impact the forex market.

Metric Name	Reference Period	Currency	Date	Time	Forecast	Outcome
United States NAHB Housing Market Index	Sep 2021	US Dollar	2021-09-20	14:00 GMT	74

FX Market Hourly Update

In the preceding hour, USDTRY stands out as the biggest mover in the forex asset class on a percentage basis, increasing 312 pips (0.36%). Intraday trend traders may wish to note that USDNOK has the strongest trend on the hourly timeframe over the last 20 price bars. Finally, GBPCHF‘s 50 hour moving average has just been breached.

Price Action on the Daily Chart

The pairs that made the biggest moves, on a percentage basis, over the past day were USDZAR, USDTRY, and ZARJPY. The chart below illustrates. Note that EURTRY and USDJPY made especially large and surprising moves over the past day.

The chart below summarizes the price news by currency, showing which currency strengthened vs which weakened when equally averaged against other currencies. We see that USD was the big outperformer, changing by 0.61%. On the flip side, ZAR fared the worst, changing by -1.1%.

Forex Trend News

Over the past two weeks, the strongest trend has been on GBPCAD. Alternatively, on a 90 day basis, the strongest trend appears on AUDNZD. Interestingly, a countertrend appears on the 14 day relative to the 90 day timeframe appears for TRYJPY, USDTRY, EURTRY and EURCHF. Trading against the 14 day trend in favor of the 90 day trend may be an opportunity some traders would favor on these pairs. Price action traders will also want to note that a base appears to be forming on GBPUSD. Price bases often precede increases in volatility and a clear trend.

Moving Averages in the Forex World

For those who pay attention to moving averages, USDZAR may be of particular interest. It crossed its 20 and 200 day moving averages. Below is a list of currency pairs that crossed key moving average levels over the past day.

Currency Pair	Moving Average Period Crossed
GBPNZD	200
USDNOK	100
NZDJPY	100
TRYJPY	100
USDTRY	50
EURTRY	50
AUDUSD	50
USDCAD	20

From the perspective of the alignment of moving averages — meaning where moving averages are ordered by their duration — we see that AUDCHF has perhaps the strongest trend. See the chart below.

One other point on moving averages: instruments in the Forex asset class that are near their 200 day moving average are USDZAR, GBPNZD, EURCHF, USDHKD, EURSEK, GBPJPY, CADJPY and EURJPY.

News from the BIS

The Bank of International Settlements helps central banks coordinate their policies. As such, it can be an important institution for forex traders to monitor. Here is the latest from them:

Link	Publication Date	Summary
Vaccinating insurers against pandemics – a review of capital requirements for pandemic risk	2021-09-16	The BIS hosts nine international organisations engaged in standard setting and the pursuit of financial stability through the Basel Process.
Navigating by r*: safe or hazardous?	2021-09-15	The concept of the natural rate of interest, or r*, has risen to prominence in monetary policy following the Great Financial Crisis.If so, within a credible policy regime, there is a premium on flexibility in the pursuit of tightly defined inflation targets – on tolerance for transitory, but possibly persistent, shortfalls of inflation from target.
John C Williams: Opening remarks – “Racism and the Economy: Focus on Health”	2021-09-15	Remarks (via prerecorded video) by Mr John C Williams , President and Chief Executive Officer of the Federal Reserve Bank of New York, at “Racism and the Economy: Focus on Health”, 9 September 2021.I’m John Williams, president and CEO of the Federal Reserve Bank of New York.

Forex Market Insights from TradingView

On TradingView, a consensus may be building on CHFJPY. The CFDTrading TradingView Sentiment Indicator reports a buy/sell ratio (a measure of buyers to sellers) of 0.09 for chfjpy, implying traders are predominantly quite bearish in their outlook for the instrument. And as for which forex pairs are getting the most insightful technical conversations, check out EURNZD. Here’s one comment we thought was especially interesting:

EURNZD is in a corrective structure, there’s also an inverse head and shoulder pattern on the lower time frame. Will be looking for buy opportunities at the neckline breakout
–EURNZD BUY TRADE IDEA

Looking for More Forex News?

For more forex news beyond what is offered on CFDTrading, check out Forex Factory, FX Empire, and ForexLive. For the latest stories on specific currency pairs, try the articles below.