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Category Archives: Forex News
- Bank Of England Interest Rate Cuts
- GBP News Creates Volatility, Price Movement For Traders
- Forex News Calendar, Selecting One For Your Trading
- Bank Of England Base Rate, Monetary Policy
- Non Farm Payroll NFP, Trading Profitably
- Chinese Yuan Devaluation Creates Forex Trading Opportunities
- US Dollar USD News, Impact on Currency Traders
- Forex News Trading, Tools And Indicators For Best Results
- Non Farm Payrolls News USD Strength
- Forex News Non Farm Payrolls
- Forex News Canadian Consumer Price Index CPI
- Forex News Euro Consumer Price Index
- Forex News British Pound GBP Retail Sales
Today in forex news the Canadian Dollar CAD Consumer Price Index CPI was announced. The Canadian CPI rose 2.3% in the 12 months to May, following a 2.0% increase in April. After the CPI news the CAD strengthened on all pairs. Pairs like the CAD/CHF and CAD/JPY moved higher, since both pairs are trending up on the W1 time frame trend, they should continue higher next week.
SInce these uptrends should continue, we will look to set more trading plans on both pairs next week. The live forex trading signals you see below indicating the CAD strength are from The Forex Heatmap®, which provides buy and sell signals for 28 pairs. This trading system works to provide forex traders with live trading signals for 8 currencies, including after forex news drivers like Canadian Dollar CPI.
Today after the Euro EUR Consumer Price Index CPI news announcement, the Euro and Swiss Franc CHF both strengthened. The Euro CPI is the change in the price of goods and services purchased by consumers, it came in at 0.8% actual versus 0.7% forecast.
The JPY Japanese Yen was also weak, so the CHF/JPY and EUR/JPY moved much higher after the news. These movements were strong were on these pairs, but these were short term intra-day movements or daytrades on these two pairs. The EUR strength also caused the EUR/AUD to break out of resistance to the upside, and this pair is now trending up on the D1 time frame. You can verify this with multiple time frame analysis.
We will continue to issue a written forex trading plan on the EUR/AUD and monitor this new uptrend as it continues higher. The EUR strength and JPY weakness you see below is on The Forex Heatmap®, which gives live trading signals for 28 pairs. It works well to provide trade entries after news drivers like consumer price index, or any other major news drivers.
Today in forex news the retail sales news from the British Pound GBP was announced. After the news announcement the GBP strengthened on all pairs. Month over month sales volume was up 2.6% vs 0.5% forecast, and this drove the GBP higher. For traders, these pairs moved up quickly after the news was announced.
Pairs like the GBP/AUD moved strong to the upside. This pair is nearing a breakout point and we will look to prepare more forex trading plans for a buy on some of the GBP pairs next week at their respective resistance breakout points. After any news event, traders can use The Forex Heatmap® forex heatmap, which is shown below, to enter forex trades across 28 currency pairs. It works under most market conditions, or after the news for 8 currencies.