Forex News

(Last Updated July 27, 2021 9:22 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
Australia RBA Debelle Speech	NA	Australian Dollar	2021-07-27	12:35 GMT
United Kingdom CBI Distributive Trades	Jul 2021	British Pound	2021-07-27	10:00 GMT	21
Japan BoJ Summary of Opinions	NA	Japanese Yen	2021-07-27	23:50 GMT
Mexico Balance of Trade	Jun 2021	Mexican Peso	2021-07-27	11:00 GMT	$1.7B
United States Durable Goods Orders MoM	Jun 2021	US Dollar	2021-07-27	12:30 GMT	2.1%

FX Market Hourly Update

In the preceding hour, USDZAR stands out as the biggest mover in the forex asset class on a percentage basis, rallying 8 pips (0.51%). Intraday trend traders may wish to note that GBPCHF has the strongest trend on the hourly timeframe over the last 100 price bars. Last but not least, it’s worth noting that NZDCAD has crossed its 100 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 USDSEK, USDNOK, and GBPUSD. 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, moving by 0.58%. Alternatively, USD moving by -0.29%, making it the worst performer of the bunch.

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 GBPAUD. Interestingly, a countertrend appears on the 14 day relative to the 90 day timeframe appears for TRYJPY and USDTRY. 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 CHFJPY, USDJPY and USDCHF. 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, GBPUSD 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
GBPCAD	200
USDCHF	100
GBPJPY	20
NZDUSD	20
EURSEK	20

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

One other point on moving averages: instruments GBPUSD, GBPCAD, USDHKD, AUDJPY, NZDCHF, USDZAR and EURSEK 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
Covid-19 and bank resilience: where do we stand?	2021-07-22	The BIS hosts nine international organisations engaged in standard setting and the pursuit of financial stability through the Basel Process.
Fiscal and monetary policy interactions in a low interest rate world	2021-07-22	It zooms in on the role of quantitative easing (QE) as a monetary policy instrument and on the interaction between fiscal rules and monetary policy in a low interest rate world.As a consequence, the zero lower bound (ZLB) on policy rates has become a more binding constraint for conventional monetary policy.

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.