Forex News

(Last Updated September 3, 2021 23:22 GMT)

FX Market Hourly Update

Over the past hour, USDZAR stands out as the biggest mover in the forex asset class on a percentage basis, jumping 2 pips (0.13%). Intraday trend traders may wish to note that EURAUD has the strongest trend on the hourly timeframe over the last 20 price bars. Last but not least, it’s worth noting that AUDNZD 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 NZDUSD, USDCAD, and USDNOK. 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 NOK was the big outperformer, moving by 0.43%. On the flip side, ZAR fared the worst, moving by -0.36%.

As for who is on a hot streak, NZDUSD, NZDJPY, NZDCHF, AUDUSD, CADJPY, GBPJPY, AUDCHF, EURUSD, EURJPY, NZDCAD and ZARJPY have now rallied 8, 8, 10, 8, 8, 9, 8, 8, 9, 8 and 8 out of the past ten trading days.

Forex Trend News

Over the past two weeks, the strongest trend has been on GBPAUD. 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 GBPAUD, EURJPY, EURCHF, EURUSD, AUDUSD, USDNOK, EURAUD, GBPJPY, EURNOK, USDSEK, GBPUSD, USDHKD, AUDJPY, NZDUSD, AUDCAD and AUDCHF. 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 USDCHF and USDMXN. Price bases often precede increases in volatility and a clear trend.

Moving Averages in the Forex World

Below is a list of currency pairs that crossed key moving average levels over the past day.

Currency Pair	Moving Average Period Crossed
NZDCAD	200
EURNOK	200
NZDUSD	100
GBPUSD	50
GBPJPY	50
AUDJPY	50
AUDCHF	50
USDHKD	50
USDJPY	50
EURSEK	50
CADCHF	20
GBPCHF	20
GBPCAD	20
USDCAD	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.

Lastly, instruments NZDUSD, GBPUSD, EURCHF, NZDCAD, USDHKD, GBPCAD, GBPNZD, EURSEK, EURNOK and USDCAD 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
Fritz Zurbrügg: Mortgage and real estate markets: current developments pose risks to financial stability	2021-09-02	“House prices hit record highs”, “Swiss mortgage rates sinking again”1 – these Swiss newspaper headlines from recent months show that developments on the mortgage and real estate markets are currently a topic of hot debate.The mortgage and real estate markets play a key role in the banking sector and are thus of great importance to overall financial stability.
Jens Weidmann: Banking supervision in dialogue	2021-09-02	Welcoming address by Dr Jens Weidmann , President of the Deutsche Bundesbank and Chair of the Board of Directors of the Bank for International Settlements, at the Bundesbank symposium “Banking supervision in dialogue”, virtual, 1 September 2021.It is a pleasure and a privilege to open this year’s Bundesbank symposium on “Banking supervision in dialogue” and to welcome you all to this event.
Toyoaki Nakamura: Economic activity, prices and monetary policy in Japan	2021-09-02	Economic and Price Developments at Home and Abroad I will begin my speech by talking about recent developments in economic activity and prices.Overseas economies have recovered on the whole, led by advanced economies and China, despite the growing impact of the spread of the novel coronavirus (COVID-19) and its variants (Chart 1).

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.