Forex News

(Last Updated December 3, 2021 23:24 GMT)

FX Market Hourly Update

Over the past hour, USDMXN has been an especially big mover in the forex market, declining -1083 pips (-0.51%). Traders interested in intraday trends may wish to observe EURSEK, which has been in an uptrend over the past 20 price candles. Last but not least, intraday traders may wish to take note of the fact that USDMXN just breached its 20 hour moving average.

Price Action on the Daily Chart

The pairs that made the biggest moves, on a percentage basis, over the past day were EURTRY, USDTRY, and TRYJPY. The chart below illustrates. None of the moves in the past day were especially noteworthy in terms of their size relative to their volatility over the past 30 days.

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 ZAR was the outperformer for the day, moving by 0.72%. On the flip side, TRY fared the worst, moving by -2.63%.

And in terms of interesting streaks, USDCHF has 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 NZDCHF. Alternatively, on a 90 day basis, the strongest trend appears on USDJPY. Interestingly, a countertrend appears on the 14 day relative to the 90 day timeframe appears for EURNZD, EURAUD, EURNOK, GBPNZD, CADJPY, EURCAD and USDJPY. Trading against the 14 day trend in favor of the 90 day trend may be an opportunity some traders would favor on these pairs.

Moving Averages in the Forex World

For those who pay attention to moving averages, GBPNZD may be of particular interest. It crossed its 100 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
EURNZD	100
EURGBP	100
CHFJPY	50
EURUSD	20
USDHKD	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.

Finally, instruments GBPNZD, CADJPY, USDCHF and USDHKD are close to their 200 day moving average.

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
Suptech tools for prudential supervision and their use during the pandemic	2021-12-02	We find that more than half of the 71 suptech tools assess mainly qualitative data, underscoring the importance of analysing textual information in prudential supervision.This paper takes stock of 71 discrete suptech tools used for prudential supervision in 20 jurisdictions and explores the benefits, risks and implementation challenges.
Randal K Quarles: Between the hither and the farther shore – thoughts on unfinished business	2021-12-02	When I joined the Board of Governors as Vice Chair for Supervision in the fall of 2017, the Federal Reserve was in the latter stages of a decade-long effort to build a new financial regulatory framework, responding to the financial crisis of 2008.This real-life stress test demanded emergency action with respect to our regulatory framework and more broadly, including through the establishment of 13 emergency lending facilities under our role as the lender of last resort to help stabilize the financial system.
Goushi Kataoka: Economic activity, prices, and monetary policy in Japan	2021-12-02	Outline of the Current Monetary Policy and the Recent Policy Decisions The Bank conducts monetary policy under the framework of Quantitative and Qualitative Monetary Easing (QQE) with Yield Curve Control, aiming to achieve the 2 percent price stability target.I will outline the Bank’s current monetary policy and the recent policy decisions, based on the outlook for economic activity and prices that I have described.

Link

Publication Date

Summary

Suptech tools for prudential supervision and their use during the pandemic

2021-12-02

We find that more than half of the 71 suptech tools assess mainly qualitative data, underscoring the importance of analysing textual information in prudential supervision.This paper takes stock of 71 discrete suptech tools used for prudential supervision in 20 jurisdictions and explores the benefits, risks and implementation challenges.

Randal K Quarles: Between the hither and the farther shore – thoughts on unfinished business

2021-12-02

When I joined the Board of Governors as Vice Chair for Supervision in the fall of 2017, the Federal Reserve was in the latter stages of a decade-long effort to build a new financial regulatory framework, responding to the financial crisis of 2008.This real-life stress test demanded emergency action with respect to our regulatory framework and more broadly, including through the establishment of 13 emergency lending facilities under our role as the lender of last resort to help stabilize the financial system.

Goushi Kataoka: Economic activity, prices, and monetary policy in Japan

2021-12-02

Outline of the Current Monetary Policy and the Recent Policy Decisions

The Bank conducts monetary policy under the framework of Quantitative and Qualitative Monetary Easing (QQE) with Yield Curve Control, aiming to achieve the 2 percent price stability target.I will outline the Bank’s current monetary policy and the recent policy decisions, based on the outlook for economic activity and prices that I have described.

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.