Forex News

(Last Updated April 14, 2021 3:23 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
Euro Area Industrial Production MoM	Feb 2021	Euro	2021-04-14	09:00 GMT	-1.1%
Sweden CPIF YoY	Mar 2021	Swedish Krona	2021-04-14	07:30 GMT	1.9%
United States Import Prices MoM	Mar 2021	US Dollar	2021-04-14	12:30 GMT	1%
South Africa Retail Sales YoY	Feb 2021	South African Rand	2021-04-14	11:00 GMT	-1.8%

FX Market Hourly Update

Over the past hour, AUDJPY has has made the biggest move in the forex asset class, jumping 8 pips (0.1%). The strongest trend on the hourly timeframe can be seen on EURUSD — it’s clearly been in an uptrend over the past 20 candles. Last but not least, USDHKD‘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 USDSEK, EURSEK, and NZDUSD. 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. We see that SEK was the big outperformer, changing by 0.57%. Alternatively, USD changing by -0.25%, making it the worst performer of the bunch.

Forex Trend News

Over the past two weeks, the strongest trend has been on EURAUD. Alternatively, on a 90 day basis, the strongest trend appears on GBPJPY. Interestingly, a countertrend appears on the 14 day relative to the 90 day timeframe appears for EURAUD, EURGBP, EURUSD, USDCHF, AUDCHF, AUDNZD, GBPCHF, GBPNZD, CADCHF, EURCAD, USDSEK, GBPJPY, USDJPY, EURCHF, GBPAUD and NZDCHF. 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 EURNOK, TRYJPY and CADJPY. 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, EURUSD may be of particular interest. It crossed its 50 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
GBPAUD	200
GBPJPY	50
NZDUSD	20
NZDCAD	20
AUDUSD	20
USDCAD	20
EURSEK	20

From the perspective of the alignment of moving averages — meaning where moving averages are ordered by their duration — we see that ZARJPY 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 EURUSD, AUDCAD, USDHKD, GBPCAD and GBPAUD.

Forex Market Insights from TradingView

On TradingView, a consensus may be building on CADCHF. The CFDTrading TradingView Sentiment Indicator reports a buy/sell ratio (a measure of buyers to sellers) of 0.18 for cadchf, suggesting traders are quite bearish on the asset. And regarding the forex pairs getting the most technical talk on TradingView, see USDCHF. Here’s a remark from one currency trader that we thought was especially worth sharing:

USDCHF Long.
–USDCHF Long.

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.