Forex News

(Last Updated September 22, 2021 6:22 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 Markit Services PMI Flash	Sep 2021	Australian Dollar	2021-09-22	23:00 GMT
Switzerland Current Account	Q2 2021	Swiss Franc	2021-09-22	07:00 GMT
Euro Area ECB Non-Monetary Policy Meeting	NA	Euro	2021-09-22	08:00 GMT
Turkey Consumer Confidence	Sep 2021	Turkish Lira	2021-09-22	07:00 GMT
United States FOMC Economic Projections	NA	US Dollar	2021-09-22	18:00 GMT
South Africa Inflation Rate YoY	Aug 2021	South African Rand	2021-09-22	08:00 GMT	4.8%

FX Market Hourly Update

In the preceding hour, AUDJPY has has made the biggest move in the forex asset class, increasing 9 pips (0.12%). Intraday trend traders may wish to note that USDCHF has the strongest trend on the hourly timeframe over the last 50 price bars. Last but not least, intraday traders may wish to take note of the fact that EURAUD just breached its 50 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 AUDCHF, AUDJPY, and NZDCHF. 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 CHF was the big outperformer, changing by 0.52%. On the flip side, AUD fared the worst, changing by -0.47%.

And in terms of interesting streaks, EURTRY 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 CHFJPY. Alternatively, on a 90 day basis, the strongest trend appears on AUDNZD. Interestingly, a countertrend appears on the 14 day relative to the 90 day timeframe appears for EURTRY. 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 EURSEK and USDNOK. 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, EURCHF may be of particular interest. It crossed its 20 and 100 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
EURTRY	100
GBPAUD	50
AUDCHF	50
EURSEK	20
GBPNZD	20
AUDCAD	20
USDNOK	20

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

Finally, instruments EURSEK, GBPNZD, EURCAD, USDMXN, EURGBP, USDHKD, USDJPY, GBPCHF and NZDCHF 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
Monetary and fiscal policies at a crossroads: New Normal or New Path?	2021-09-20	The nexus between monetary and fiscal policy has again risen to prominence post-Great Financial Crisis and since the pandemic began.Ultimately, however, the only option to effectively limit the risks is to raise long-term growth, through appropriate structural reforms supported by growth-friendly fiscal policies.
François Villeroy de Galhau: The Banking Union ─ Time to move forward again	2021-09-20	Banking Union: it is time to move forward again Where we stand.Banking Union would enable, in conjunction with progress towards a Capital Market Union, a better channelling of our abundant savings through a genuine “Financing Union for Investment and Innovation”.
François Villeroy de Galhau: Speech – International Conference on Statistics for Sustainable Finance	2021-09-20	It is a pleasure to welcome you today with Sabine Mauderer to the Banque de France Conference Centre, for the first International Conference on Statistics for Sustainable Finance, jointly organised with the Deutsche Bundesbank and the Irving Fisher Committee, under the aegis of the Bank of International Settlement.In a nutshell, accelerating the green transition requires accelerating green data.

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 0.2 for cadchf, which suggests traders are quite bearish on the pair. And as for which forex pairs are getting the most insightful technical conversations, see USDZAR. Here’s one comment we thought was especially interesting:

If you have been playing the inverted head and shoulder pattern of the $USDZAR, it has now complete into the 61.8% retracement, we would expect it to stall ahead of the #FOMC sub 14.9000 Join us for our free daily webinars at: https://forexanalytix.zoom.us/webinar/register/WN_auZTNmgSTI2C_vNl6VSS2w Free broadcast of market analysis for 5+ years.
–Inverted head and shoulder pattern complete USDZAR

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.