Forex News

(Last Updated February 25, 2021 6:24 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
Euro Area Consumer Confidence Final	Feb 2021	Euro	2021-02-25	10:00 GMT	-14.8
Japan Retail Sales YoY	Jan 2021	Japanese Yen	2021-02-25	23:50 GMT	-2.6%
United States Durable Goods Orders MoM	Jan 2021	US Dollar	2021-02-25	13:30 GMT	1.1%

FX Market Hourly Update

In the preceding hour, GBPUSD has been an especially big mover in the forex market, increasing 16 pips (0.11%). Traders interested in intraday trends may wish to observe NZDCHF, which has been in an uptrend over the past 50 price candles. Last but not least, intraday traders may wish to take note of the fact that EURGBP 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 NZDJPY, NZDCHF, and AUDJPY. The chart below illustrates. Note that NZDCAD, USDHKD and GBPNZD 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. We see that NZD was the big outperformer, moving by 1.27%. Alternatively, JPY moving by -0.88%, making it the worst performer of the bunch.

And in terms of interesting streaks, NZDJPY, NZDCHF, AUDJPY, CADJPY, EURTRY, AUDCHF, GBPJPY, AUDUSD, GBPCHF, EURCHF and GBPUSD have now rallied 8, 8, 9, 8, 8, 8, 8, 8, 9, 9 and 8 out of the past ten trading days.

Forex Trend News

Over the past two weeks, the strongest trend has been on EURGBP. Alternatively, on a 90 day basis, the strongest trend appears on EURNOK. Price action traders will also want to note that a base appears to be forming on EURNOK. 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, GBPNZD may be of particular interest. It crossed its 20, 50 and 100 day moving averages. Outside of GBPNZD, GBPAUD was another pair that crossed key moving average levels, crossing its 50 day moving average. From the perspective of the alignment of moving averages — meaning where moving averages are ordered by their duration — we see that USDZAR has perhaps the strongest trend. See the chart below.

Finally, instruments in the Forex asset class that are near their 200 day moving average are USDHKD and AUDNZD.

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.