FOREX NEWS

Forex Signals Brief for Jul 16: ECB Ahead – Forex News by FX Leaders – FX Leaders




Forex Signals Brief for Jul 16: ECB Ahead – Forex News by FX Leaders

ECB in Focus

Posted Thursday, July 16, 2020 by





Rowan Crosby



• 2 min read

US Market Wrap

The US markets continued to stay in the green after another session with plenty of news flow.

Once again the focus was on COVID-19 and the inability to get it under control both in the US and around the globe. There were some headlines out of the UK, that an Oxford trial had show promise in terms of being an effective vaccine and that was largely the main theme of the day.

The BOC was also one to watch for forex traders and as expected there was no change in rates, while the USD/CAD fell away sharply.

The Data Agenda

There’s another busy day ahead of us on the data front, with the main event likely to be the latest meeting of the ECB.

The members of the board are all but certain to keep their policy on hold for the time being, after what has been a wild few months for all central banks. There is growing pressure for more fiscal stimulus now, as many believe the ECB is out of bullets and that could keep the EUR/USD quiet in response to today’s release.

Elsewhere, the [[GDP/USD]] will be watching the latest employment data from the UK, where the claimant count is continuing to drop.

Then finally to the US, where we have some important numbers out, including retail sales. However, the big one is again jobless claims which have finally started to fall after being stuck in the 1.3-1.5 million range for a number of weeks.

Forex Signal Update

The FX Leaders Team hit 4 winners from 6 trades yesterday, as we continue to build a strong month to date.

USD/CAD – Active Signal

The USD/CAD has fallen sharply, but we are expecting a quick bounce back and are long trying to capitalise on that potential move.

USD/CAD
USD/CAD – 240min.

EUR/USD – Active Signal

The EUR/USD will be in play today, thanks to the ECB, however, we remain long into that meeting.

EUR/USD
EUR/USD – 240min.

Cryptocurrency Update

BTC was making headlines this morning for all the wrong reasons, after a Twitter hack tricked users into sending Bitcoin to an online wallet, by taking over some high profile business people’s accounts.

That’s about the only thing going on in the world of Bitcoin at the moment and price remains in the $9,000 to $9,500 range. The hack, didn’t have a huge impact on price.

BTC
BTC – 240min.

About the author



Rowan Crosby


// Asia-Pacific Analyst


Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.

Related Articles



5 hours ago



8 hours ago



19 hours ago

Let’s block ads! (Why?)


Scalping Strategy Course (DVD + Online) - $299.00

In the much anticipated Forex Scalping Strategy Course, Vic and Sarid show you short-term focused techniques and strategies to make quicker profits while reducing market exposure.




Forexmentor Coach's Corner First Month (Online) - $149.00

The Coach's Corner offers 2 live sessions per week, an integrated approach to trading, FREE access to the VicTrade video course and Darko's Pattern Trading Video Lessons.



Source link

Have your say