Decrease in European Bond Yields and ECB Statement Affects Euro

Euro started the week on a strong note but sustained losses after a decline in the European bond yields and the ECB announcing that there will be no changes to its monetary policy.

Tuesday, April 24: Kiwi Slumps as Risk Aversion Returns

NZD

The Kiwi started the day on a high note but returned most of its gains as risk-off flows returned.

NZD/CAD dropped to .9135, NZD/JPY also went down to finish the day at 77.38, and GBP/NZD went up and ended up trading at 1.9619.

EUR & GBP

The Euro and the GBP were able to hold on to the gains they started the day with, recording gains against the comdolls and the Yen.

EUR/NZD went up to 1.7178, EUR/CHF advanced to end the day at 1.1974, GBP/AUD was up to 1.8383, GBP/USD was also up and ended the day trading at 1.3977, and GBP/JPY advanced to trade at 151.89

Wednesday, April 25: Another Day in the Green for Yields, USD Higher

USD

The greenback enjoyed another day on top after recording gains against most of its competitors, with rising bond yields and a bounce in U.S. equities the major catalysts.

EUR/USD dipped to 1.2173, GBP/USD also dropped to trade at 1.3938, USD/JPY meanwhile advanced to end the day trading at 109.33, and USD/CHF also went up to .9827.

CAD

The loonie banked on the increase in oil prices to record some gains against some of its competitors.

NZD/CAD dropped to 0.9077 by the end of the day, AUD/CAD also went down to 0.9718, EUR/CAD is down to 1.5634 (-0.39%), and GBP/CAD fell to 1.7896 (-0.22%)

The ForexSignal Trading Team sent out a USD/CAD signal late on Monday, and it reached all 3 of our Take/Profit targets on Wednesday, closing with profit for our Trade Copier clients all over the world.

Thursday, April 26: EUR Erases Post-Statement Gains as ECB Projects Caution

EUR

The Euro started the day strongly but took the hardest hit after the press conference by ECB President Mario Draghi disappointed traders who had earlier expected word on a possible QE exit later this year.

EUR/USD started the day at a high of 1.2211 before dropping to 1.2104, EUR/JPY also dropped to 132.38 after attaining a daily high of 133.22, EUR/GBP dipped from 0.8728 to end the day trading at 0.8698, and EUR/AUD also slipped from 1.6106 to 1.6033.

CHF

Amongst the top currencies, the Swiss Franc was the biggest loser today.

USD/CHF started the day at 0.9847 but went up to trade at 0.9892, CHF/JPY meanwhile dropped from 110.89 to 110.54, NZD/CHF went up from 0.6964 to 0.6987, and GBP/CHF started the day at 1.3742 but went up to finish at 1.3768.

Friday, April 27: GBP Gutted After U.K. GDP Miss

GBP

The Pound suffered heavy losses after the U.K.’s GDP report was released, with the report missing the expectation by the Bank of England, which dampened the expectations of traders for a BOE rate hike next month.

GBP/USD dipped to 1.3757, GBP/AUD also went down to trade at 1.8216, and GBP/NZD also dropped to 1.9504

AUD & NZD

At the London trading session, this morning, the Aussie and the Kiwi were the top-performing currencies, due to the risk-on vibes in Europe.

NZD/USD was up and traded at 0.7053, NZD/CHF also advanced to 0.6994, and NZD/JPY was up to 77.11

The Aussie also recorded gains, with AUD/USD up to trade at 0.7552, AUD/CHF also went up to 0.7488, and AUD/JPY was up to trade at 82.57