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Forex News

(Last Updated August 12, 2022 0:24 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
Australia HIA New Home Sales MoM Jul 2022 Australian Dollar 2022-08-12 00:30 GMT
Euro Area Industrial Production MoM Jun 2022 Euro 2022-08-12 09:00 GMT 0.2%
United Kingdom GDP MoM Jun 2022 British Pound 2022-08-12 06:00 GMT -1.3%
Turkey Industrial Production YoY Jun 2022 Turkish Lira 2022-08-12 07:00 GMT 6.7%
United States Michigan Consumer Sentiment Aug 2022 US Dollar 2022-08-12 14:00 GMT 52.5

FX Market Hourly Update

Over the past hour, USDMXN has been an especially big mover in the forex market, declining -285 pips (-0.14%). Intraday trend traders may wish to note that GBPAUD has the strongest trend on the hourly timeframe over the last 50 price bars. Last but not least, AUDNZD‘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 USDZAR, USDNOK, and AUDUSD. The chart below illustrates. Note that ZARJPY, NZDCAD, NZDCHF, NZDJPY, GBPCHF, USDHKD and GBPJPY 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. Of note is that NOK was the outperformer for the day, moving by 1.79%. Alternatively, USD moving by -1.3%, making it the worst performer of the bunch.



Forex Trend News

Over the past two weeks, the strongest trend has been on EURSEK. Alternatively, on a 90 day basis, the strongest trend appears on USDTRY. Price action traders will also want to note that a base appears to be forming on USDHKD, GBPAUD and USDCAD. 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, USDHKD may be of particular interest. It crossed its 20 and 50 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
USDCHF 200
GBPJPY 100
USDMXN 100
USDNOK 100
GBPUSD 50
AUDNZD 50
CADJPY 50
USDZAR 50
AUDCHF 20
NZDCHF 20
EURGBP 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.



One other point on moving averages: instruments in the Forex asset class that are near their 200 day moving average are USDHKD, CADCHF, EURGBP, USDCAD and USDCHF.

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
Benjamin E Diokno: Philippines – resilient today, economic powerhouse tomorrow 2022-08-11 Given its commitment to macroeconomic stability and unrelenting reform momentum, the Philippines is harnessing its potential to remain among the most resilient economies of today and become an economic powerhouse of tomorrow.Under the “Build, Build, Build” program, big-ticket infrastructure projects were rolled out.
Joachim Nagel: Digital euro – opportunities and risks 2022-08-10 One of them is central bank digital currency (CBDC), specifically the digital euro.With a digital euro, future digital payments in the euro area could be carried out independently of non-European payment infrastructures.
Joachim Nagel: Speech at the ceremony marking the change of office at the Regional Office in Bavaria 2022-08-10 Welcome to this ceremony marking the change of office at the Bundesbank’s Regional Office in Bavaria.At the end of July, you, Mr Benedikt, will retire, and Mr Vollbracht will then take over as president of this Regional Office.



Forex Market Insights from TradingView

On TradingView, a consensus may be building on EURJPY. The CFDTrading TradingView Sentiment Indicator reports a buy/sell ratio (a measure of buyers to sellers) of 0.14 for eurjpy, suggesting traders are quite bearish on the asset.

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.

NZD/JPY Down 3 Pips Over Past Hour, Moves Up For the 4th Consecutive Day; is Inching Close to 20 and 50 Day Averages

Categories Forex News Tags NZDJPY
August 11, 2022

If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.

NZD/USD Up 2 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; in a Downtrend Over Past 90 Days

Categories Forex News Tags NZDUSD
August 11, 2022

Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed up.

NZD/CHF Up 2 Pips Over Past Hour, Makes Big Move Relative to Past Month; Breaks Above 20 Day Average

Categories Forex News Tags NZDCHF
August 11, 2022

The clearest trend exists on the 90 day timeframe, which shows price moving down over that time.

NZD/CAD Up 2 Pips On Hourly Chart, Makes Big Move Relative to Past Two Months; Entered Today Up For the 3rd Day In A Row

Categories Forex News Tags NZDCAD
August 11, 2022

The clearest trend exists on the 90 day timeframe, which shows price moving down over that time.

GBP/USD Down 3 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; Breaks Above 50 Day Average

Categories Forex News Tags GBPUSD
August 11, 2022

Compared to its peers in the forex, gbpusd gave its buyers a return that ranked 3rd in terms of percentage change since yesterday.

GBP/NZD Down 10 Pips On Hourly Chart, Entered Today Down For the 3rd Straight Day; Price Base in Formation Over Past 90 Days

Categories Forex News Tags GBPNZD
August 11, 2022

The closest is the 20 day average, which is 213.5 pips away.

GBP/JPY Down 15 Pips On Hourly Chart, Makes Big Move Relative to Past Three Months; Breaks Below 100 Day Average

Categories Forex News Tags GBPJPY
August 11, 2022

As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.

GBP/CHF Down 2 Pips in Last Hour, Makes Big Move Relative to Past Month; Entered Today Down For the 5th Consecutive Day

Categories Forex News Tags GBPCHF
August 11, 2022

If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.

GBP/AUD Down 5 Pips On Hourly Chart; Price Base in Formation Over Past 14 Days

Categories Forex News Tags GBPAUD
August 11, 2022

Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down.

GBP/CAD Down 5 Pips Over Past Hour, Moves Up For the 2nd Day In A Row; Nears 20 and 50 Day Moving Averages

Categories Forex News Tags GBPCAD
August 11, 2022

It’s been a feast for bears operating on an hourly timeframe, as gbpcad has now gone down 8 of the past 10 hours.

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