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Yohay Elam has been into forex trading for over 5 years, and shares the experience and the knowledge accumulated after taking a short course about forex. Like many forex traders, Elam has earned the significant share of his knowledge the hard way. Macroeconomics, the impact of news on the ... more

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EUR/USD Forecast May 1-5
EUR/USD jumped higher on the favorable results of the French elections. PMI and GDP data stand out in the first week of May, in the run up to the second round of the French elections.
Canadian GDP Flat In February As Expected
The Canadian economy did not grow in February 2017. Year over year, GDP grew by 2.5%, slightly below 2.6% predicted.
US GDP Misses With 0.7% – USD Ignores
The US economy grew by 0.7% in Q1 2017 on an annualized level. This is below official expectations but perhaps above the “whisper numbers” especially after yesterday’s mediocre durable goods orders.
UK GDP Q1 2017 Misses With 0.3% – GBP/USD Wobbles
The UK was expected to report a quarterly growth rate of 0.4% in its Gross Domestic Product in the first quarter of 2017. GBP/USD was rising ahead of the publication, trading around 1.2930, the highest in over six months.
Another Day, Another USD/CAD Advance
The Canadian dollar remains under pressure. The pair reached a new high at 1.3670, reaching yet another 14-month high.
US Data Does Not Bode Well For US GDP; Political Worries Weigh
Inventories fell short of expectations. The preliminary number dropped by 0.1% against 0.3% expected. While that may imply replenishing of those inventories down the line, it does not bode well for Q1 GDP.
Pound Peeks At Higher Levels, Peaks For Now
GBP/USD reached 1.2915, the highest level since October. This is above the previous high of 1.2905 seen after the announcement of the UK elections on June 8th. After reaching the new high, Sterling became shy once again.
GBP: When Will The GBP Peak? Where To Target? – NAB
The pound is on the move higher after the elections announcement. After the initial move, it consolidated its gains. What’s next?
Trump’s Taxes Suffer A Dearth In Details – Dollar Dips
The US dollar was rising against some currencies ahead of the hyped announcement. And when the one-pager came out, the trend reversed.
AUD/USD At The Lowest Since January – Levels To Watch
Political pundits are commemorating Trump’s first 100 days in office. It has also been 100 days since AUD/USD traded at the current level of 0.7465.
EUR/USD From A Double Top To Low Resistance – 3 Reasons
EUR/USD certainly has an interesting week. It began with a significant 200 pip Sunday gap on the French elections, reaching 1.0930. When things cooled down, it found itself at support some 100 pips lower.
ECB Preview: Seeing The Glass Half Full? 3 Scenarios
The favorable outcome of the French elections undoubtedly plays a role in the ECB’s mood. While they may find it hard to admit it publicly, Macron’s high chances of becoming the next French president could stir the members towards an optimistic mood.
Australian CPI Only OK – AUD/USD Slides
Australia releases its inflation figures only once per quarter, making every publication a big market-mover. Volatility did not disappoint this time either.
EUR: Dip Buying Is The Way To Go – Two Opinions
The euro is on a roll following the French elections and hopes for a more upbeat ECB tomorrow. What does this mean? Here are two banks suggesting buying dips in EUR/USD and EUR/JPY.
USD/CAD: Is This Just The Beginning? 1.40 Is Next?
Trump calls out timber to the northern neighbor. Trudeau says Canada will respond firmly and reasonably. The issues of milk and lumber cause tension. The loonie is higher.
US Consumer Confidence Slides, New Home Sales Beat
US consumer confidence drops to 120.3, a bigger drop than had been expected but still a high score. New home sales jumped by 5.8% to 621K in March, much better than 583K projected. The figure for February was revised down from 592K to 587K.
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