Forex News

(Last Updated September 17, 2021 2:22 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
Euro Area Core Inflation Rate YoY Final	Aug 2021	Euro	2021-09-17	09:00 GMT	1.6%
United Kingdom Retail Sales YoY	Aug 2021	British Pound	2021-09-17	06:00 GMT	2.7%
United States Michigan Consumer Expectations	Sep 2021	US Dollar	2021-09-17	14:00 GMT

FX Market Hourly Update

In the preceding hour, EURTRY has been an especially big mover in the forex market, falling -127 pips (-0.13%). The strongest trend on the hourly timeframe can be seen on USDTRY — it’s clearly been in an uptrend over the past 20 candles. Last but not least, it’s worth noting that GBPCAD has crossed 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 USDZAR, USDTRY, and ZARJPY. The chart below illustrates. Note that EURTRY and USDJPY 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 USD was the big outperformer, moving by 0.61%. On the flip side, ZAR fared the worst, moving by -1.1%.

Forex Trend News

Over the past two weeks, the strongest trend has been on GBPCAD. 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 TRYJPY, USDTRY, EURTRY and EURCHF. 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 GBPUSD. 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, USDZAR 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
GBPNZD	200
USDNOK	100
NZDJPY	100
TRYJPY	100
USDTRY	50
EURTRY	50
AUDUSD	50
USDCAD	20

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

Lastly, instruments in the Forex asset class that are near their 200 day moving average are USDZAR, GBPNZD, EURCHF, USDHKD, EURSEK, GBPJPY, CADJPY and EURJPY.

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
Vaccinating insurers against pandemics – a review of capital requirements for pandemic risk	2021-09-16	The BIS hosts nine international organisations engaged in standard setting and the pursuit of financial stability through the Basel Process.
Navigating by r*: safe or hazardous?	2021-09-15	The concept of the natural rate of interest, or r*, has risen to prominence in monetary policy following the Great Financial Crisis.If so, within a credible policy regime, there is a premium on flexibility in the pursuit of tightly defined inflation targets – on tolerance for transitory, but possibly persistent, shortfalls of inflation from target.
Sabine Mauderer: Sustainable finance and the availability of good quality data	2021-09-14	It gives me the opportunity to talk about two subjects close to my heart: Sustainable finance and the availability of good quality data.Welcome remarks by Dr Sabine Mauderer , Member of the Executive Board of the Deutsche Bundesbank, at the International Conference on Statistics for Sustainable Finance, jointly organised by the Bank of France, Deutsche Bundesbank and the Irving Fisher Committee on Central Bank Statistics, Paris, 14 September 2021.

Forex Market Insights from TradingView

On TradingView, a consensus may be building on CHFJPY. Our TradingView Sentiment Indicator notches a buy/sell ratio of 0.09, which suggests traders are quite bearish on the pair. And as for which forex pairs are getting the most insightful technical conversations, check out EURNZD. Here’s a remark from one currency trader that we thought was especially worth sharing:

EURNZD is in a corrective structure, there’s also an inverse head and shoulder pattern on the lower time frame. Will be looking for buy opportunities at the neckline breakout
–EURNZD BUY TRADE IDEA

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.