Forex News

(Last Updated February 25, 2021 14:24 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
Japan Retail Sales YoY	Jan 2021	Japanese Yen	2021-02-25	23:50 GMT	-2.6%
United States Pending Home Sales MoM	Jan 2021	US Dollar	2021-02-25	15:00 GMT	0%

FX Market Hourly Update

In the preceding hour, USDMXN has has made the biggest move in the forex asset class, increasing 461 pips (0.22%). The strongest trend on the hourly timeframe can be seen on NZDJPY — it’s clearly been in an uptrend over the past 50 candles. Finally, NZDCAD‘s 20 hour moving average has just been breached.

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. Of note is that NZD was the outperformer for the day, changing by 1.27%. On the flip side, JPY fared the worst, changing by -0.88%.

And in terms of interesting streaks, NZDJPY, NZDCHF, AUDJPY, CADJPY, EURTRY, AUDCHF, GBPJPY, AUDUSD, GBPCHF, EURCHF and GBPUSD have experienced upwards move in 8, 8, 9, 8, 8, 8, 8, 8, 9, 9 and 8 of the prior 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.