Forex News

(Last Updated September 30, 2022 0:25 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
Switzerland Retail Sales YoY	Aug 2022	Swiss Franc	2022-09-30	06:30 GMT
China NBS Manufacturing PMI	Sep 2022	Chinese Yuan	2022-09-30	01:30 GMT	49.6
Euro Area Inflation Rate YoY Flash	Sep 2022	Euro	2022-09-30	09:00 GMT	9.7%
United Kingdom Current Account	Q2 2022	British Pound	2022-09-30	06:00 GMT	£-43.8B
Japan Consumer Confidence	Sep 2022	Japanese Yen	2022-09-30	05:00 GMT
Turkey Balance of Trade	Aug 2022	Turkish Lira	2022-09-30	07:00 GMT
United States Personal Spending MoM	Aug 2022	US Dollar	2022-09-30	12:30 GMT	0.2%
South Africa Balance of Trade	Aug 2022	South African Rand	2022-09-30	12:00 GMT	ZAR23.7B

FX Market Hourly Update

In the preceding hour, NZDJPY stands out as the biggest mover in the forex asset class on a percentage basis, increasing 27 pips (0.33%). The strongest trend on the hourly timeframe can be seen on EURCAD — it’s clearly been in an uptrend over the past 20 candles. Finally, AUDJPY‘s 20 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 GBPUSD, GBPCHF, and GBPJPY. The chart below illustrates. Note that USDMXN, ZARJPY, NZDCAD, EURTRY, EURUSD, GBPNZD, GBPAUD, GBPCAD, GBPJPY and GBPCHF 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, moving by 1.37%. Alternatively, GBP moving by -2.65%, making it the worst performer of the bunch.

And in terms of interesting streaks, USDSEK, USDZAR, USDNOK and EURSEK have experienced upwards move in 8 of the prior ten trading days.

Forex Trend News

Over the past two weeks, the strongest trend has been on AUDNZD. Alternatively, on a 90 day basis, the strongest trend appears on EURCHF. Interestingly, a countertrend appears on the 14 day relative to the 90 day timeframe appears for EURCAD. 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 USDJPY. 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, USDMXN may be of particular interest. It crossed its 20, 50 and 100 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
NZDJPY	200
AUDJPY	100
TRYJPY	20
GBPCAD	20

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

Lastly, instruments in the Forex asset class that are near their 200 day moving average are USDMXN, USDHKD, ZARJPY and NZDJPY.

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

Forex Market Insights from TradingView

Regarding the forex pairs getting the most technical talk on TradingView, check out AUDCAD. Here’s one comment we thought was especially interesting:

Waiting for price to retest 0.89161 or 0.89601to short AUDCAD back down to weekly swing lowsat 0.87310.If you agree drop a like and if you have any questions leave a comment :)
–AUDCAD SHORT – WEEKLY LOWS TARGETED!

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.