Forex News

(Last Updated November 30, 2021 18:24 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 Ai Group Manufacturing Index	Nov 2021	Australian Dollar	2021-11-30	21:30 GMT
United States Fed Clarida Speech	NA	US Dollar	2021-11-30	18:00 GMT

FX Market Hourly Update

In the preceding hour, EURTRY has has made the biggest move in the forex asset class, rallying 2037 pips (1.36%). Traders interested in intraday trends may wish to observe EURNOK, which has been in an uptrend over the past 20 price candles. Last but not least, it’s worth noting that EURNZD has crossed 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. Note that CADCHF, NZDCAD and EURCAD 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 ZAR was the outperformer for the day, changing by 1.25%. On the flip side, TRY fared the worst, changing by -3.43%.

As for who is on a hot streak, USDMXN 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 USDNOK. 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 GBPNZD, EURNOK, NZDJPY, GBPAUD, EURAUD, GBPCAD and AUDJPY. 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 EURGBP, USDJPY, GBPCHF and EURCAD. 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, EURGBP 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
EURAUD	200
GBPCAD	50
USDCHF	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 EURAUD, USDHKD, GBPNZD and EURNOK 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
Fabio Panetta: Designing a digital euro for the retail payments landscape of tomorrow	2021-11-29	Maintaining the role of central bank money in the digital age When we decided to launch the investigation phase of the digital euro project in July, we did so knowing that we had the support of the European Parliament and other EU institutions, which all recognised the importance of this project.Introductory remarks by Mr Fabio Panetta , Member of the Executive Board of the European Central Bank, at the Economic and Monetary Affairs (ECON) Committee of the European Parliament, Brussels, 18 November 2021.
Christine Lagarde: Commitment and persistence – monetary policy in the economic recovery	2021-11-29	Keynote speech by Ms Christine Lagarde , President of the European Central Bank, at the 31st Frankfurt European Banking Congress 2021 “From Recovery to Strength”, Frankfurt am Main, 19 November 2021.In particular, we recognise that higher inflation squeezes people’s real incomes, especially those at the bottom of the income distribution.
Luis de Guindos: Ralph Koijen’s contribution to research on the pricing of risk in equity and insurance markets	2021-11-29	Remarks by Mr Luis de Guindos , Vice-President of the European Central Bank, at the virtual ceremony awarding the 2020 Germán Bernácer Prize to Ralph Koijen, Frankfurt am Main, 22 November 2021.I am delighted to join you today to award the 2020 Germán Bernácer Prize to Ralph Koijen, Professor of Finance at the Booth School of Business at the University of Chicago.

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.