Top 10 Weekly Forex Market Headlines – 1.30.2015

Kelvin Ching Updated on
top10 snb sight deposits

USD vs Major Currencies - % Weekly Change | January 23 ~ 30, 2015

1. SNB sight deposits rise after Swiss franc cap exit

SNB sight deposits rise after Swiss franc cap exitJanuary 26, The amount of cash commercial banks hold with the Swiss National Bank rose the most since at least March 2013 last week, indicating the central bank may have intervened to keep the franc down despite scrapping a cap against the euro. Switzerland’s central bank shocked financial markets 11 days ago by abandoning a three-year-old cap on the franc, sending the currency soaring against the euro…
2. Oil edges up 3% as U.S. dollar weakens against euro

Oil edges up 3% as U.S. dollar weakens against euroJanuary 27, Oil prices jumped as much 3 percent on Tuesday as a weaker dollar propped up commodities priced in the currency, prompting short-covering in a market that has sold off with little pause over the past seven months. The market rallied despite expectations of another large build in U.S. crude stocks last week, and surprised some traders. But others said they did not think oil was on the cusp of an extended recovery…
3. U.S. business investments fall but consumer confidence, new home sales remained upbeat

U.S. business investments fall but consumer confidence, new home sales remained upbeatJanuary 27, U.S. business investment spending fell for a fourth straight month in December, a sign that slowing global growth may be weighing on the economy, but consumers remained upbeat and new home sales in December hit their highest level since June 2008. “The drop in (capital spending) will weigh on growth, though stronger consumer spending should keep GDP from slowing too much,” said…
4. New Greek PM Tsipras names anti-austerity cabinet, stops port privatization

New Greek PM Tsipras names anti-austerity cabinet, stops port privatizationJanuary 27, Greek Prime Minister Alexis Tsipras named a cabinet of anti-austerity veterans and halted privatization of Greece’s biggest port on Tuesday, signaling he aims to stick to election pledges despite warning shots from the euro zone and financial markets. Greek markets endured a second day of turmoil, with bank shares diving and investors fearing the anti-bailout government might be set on a collision course…
5. UK 4th quarter GDP slows to 0.5% but annual growth highest since 2007

UK 4th quarter GDP slows to 0.5% but annual growth highest since 2007January 27, Britain’s economic recovery slowed in the fourth quarter of 2014, but annual growth was the fastest since the financial crisis of 2007. With 100 days until the general election, evidence of a slowdown and continued reliance on consumer spending to drive the recovery will come as blow to George Osborne. But the chancellor seized on news that, at 2.6% in 2014, the UK’s growth was the “fastest of any major economy”…
6. U.S. economy expanding ‘at solid pace’ despite global slowdown: Federal Reserve

U.S. economy expanding ‘at solid pace’ despite global slowdown: Federal ReserveJanuary 28, The Federal Reserve on Wednesday said the U.S. economy was expanding “at a solid pace” as it largely looked through weakness overseas in a signal that it remains on track to raise interest rates later this year. The U.S. central bank repeated it would be “patient” in deciding when to raise benchmark borrowing costs from zero, where they have been stuck since late-2008…
7. China to cut 2015 growth target to around 7%, lowest goal in 11 years

China to cut 2015 growth target to around 7%, lowest goal in 11 yearsJanuary 28, China plans to cut its growth target to around 7 percent in 2015, its lowest goal in 11 years, sources said, as policymakers try to manage slowing growth, job creation and pursuing reforms intended to make the economy more driven by market forces. The growth target, which is set to be announced by Premier Li Keqiang at the annual parliament session in March…
8. Germany to raise 2015 growth forecast amid record-high employment, strong consumer spending

Germany to raise 2015 growth forecast amid record-high employment, strong consumer spendingJanuary 28, Germany raised its forecast for economic growth for this year on the back of record high employment levels and strong consumption, which gets a lift from lower oil prices. The economics ministry increased its forecast for economic growth this year to 1.5% from an earlier forecast of 1.3%, according to its annual report. The economy grew by 1.5% last year…
9. U.S. January consumer sentiment hits highest level in 11 years

U.S. January consumer sentiment hits highest level in 11 yearsJanuary 30, U.S. consumer sentiment rose in January to its highest level in 11 years on better job and wage prospects, a survey released on Friday showed. The Thomson Reuters/University of Michigan’s final January reading on the overall index on consumer sentiment came in at 98.1, its best showing on a final basis since January 2004 and the latest in a string of increases since August…
10. Euro zone CPI fall 0.6% in January, largest decline since July 2009

Euro zone CPI fall 0.6% in January, largest decline since July 2009January 30, Consumer prices in the eurozone fell more sharply and more broadly in January, heightening the risk of a slide toward deflation that the European Central Bank hopes to halt and then reverse through its new bond-buying program. The European Union’s statistics agency said on Friday that consumer prices were 0.6% lower than in January 2014, having fallen 0.2% on an annual basis in December…
Kelvin Ching

I'm a professional Forex trader and I have been trading for over 7 years. I was a series 3 broker and a registered CTA with the NFA, the main regulatory agency in the United States, and I have been involved at the highest levels in commodity trading. I also have a background in Information Technology, graphics design, and programming... I'm the co-founder of CurrencyNewsTrading.com, a site dedicated to fundamental analysis and news trading.

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