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Forex market reviews

20 April 2015

Commodities

Anna Bodrova

Chinese Central Bank Driving Up Oil prices

By Monday morning the price of oil had undergone a new surge of growth. The cost of Brent now stands at $64.23 (+1.2%) a barrel and WTI costs $58.2 a barrel. The reason for this growth in the quote price was news from China: the People’s Bank of China announced a 1% reduction in reserve requirements for banks. It’s due to function as a stimulation to support China’s weak economic growth. Now Chinese banks only need to hold 18.5% reserve funds. This is the lowest level for the past 5 years.
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Market sessions

Vladislav Antonov

Daily Pin Bar Formation on the Pound

Friday’s expectations on the pound rang true but forecasting the maximum didn’t. Through supporting crosses, the pound strengthened against the USD to 1.5052. 180 degrees was the strongest resistance from which the pair bounced and the price of the American returned to 1.4920 (132 points).
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Market sessions

Vladislav Antonov

Euro Heading to Neck Line

Friday’s trades in Europe opened with a growth for the euro. The euro/dollar rate hit 1.0848 (90 degrees from the 1.0791 minimum). After American statistics came out the euro’s gains faded away. The euro fell by 114 points to 1.0734. Support for the dollar came from the growth in the US’s March yearly inflation index which doesn’t take changes in food and energy prices into account.
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Trading ideas

Vladislav Antonov

Short-term Trading Idea FX NZD/CAD – Bear Speculation: Await Break in Trend Line

Trading opportunities on currency pair: the Bank of Canada has reassessed its GDP forecast for Q2 and Q3 upwards. Since 17th March, the price of oil has gone up by 21% to 63.54. It’s highly likely that the rate will drop to 0.9460 and renew its reduction to 0.9018 due to the growth in the price of oil.
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Trading ideas

Vladislav Antonov

Short-term Trading Idea FX USD/NOK Bear Speculation: Await Break in Trend Line Due to Oil Price Growth

Trading opportunities on currency pair: Since 17th March Brent oil has gone up 21% to 63.54. The rate of the Norwegian krona has returned to the trend line at 7.7144. Between the prices on oil and the USD/NOK pair a negative correction is being preserved. If the price of oil rebounds, the krona will strengthen. Upon further growth in the price of oil a break of the line can be expected and a fall for the USD/NOK to 7.3859. The scenario for a reduction will cease to be valid if the rate exceeds 8.0050.
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Trading ideas

Vladislav Antonov

Short-term Trading Idea FX USD/CHF - Bull Speculation: Retreat from 0.9475-0.9486 Zone

Trading opportunities on currency pair: the USD/CHF pair is trading by the 0.9475-0.9486 limit zone. Since the dollar has an upward trend, it’s worth considering a rebound from this zone. The scenario for growth will start to be realized after a break in 0.9589. Dollar growth higher than 0.9775 will open the door to 0.9985. If the day closes less than 0.9475 then growth scenarios won’t come true.
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16 April 2015

Market sessions

Analyst Contest participant

Alpari Analyst

Australian Dollar Re-strengthens

According to data published yesterday, industrial production in the US (which includes values from the manufacturing industry) in the public services sector fell by 0.6% in comparison with February, taking into account the correction for seasonal fluctuations. The market expected the value to fall by 0.4%. This disappointing stat has increased the continued pressure on the dollar, which was on the edge of reaching a new maximum against other currency pairs, unseen for many years.
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Alexander Razuvaev
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