Anne’s Avafx Blog

According to the latest Forex updates - During the overnight session the Euro (EUR/USD) had a 30 pips range, perhaps due to the bank holiday. It picked up momentum and was able to drift higher during the U.S. session. The Euro advanced 130 pips as the USD fell down across the market at the end of the day. During the Asian session the Euro gained 40 pips.

In the early part of the overnight session the Pound (GBP/USD) traded smoothly, but it fell more than 250 pips in just a few minutes during the European session, after the ranting agency S&P demoted its outlook on the U.K. economy. Nevertheless, the down fall was wiped out during the rest of the day, and it was even able to move higher a little on Thursday.

The Aussie (AUD/USD) is presently trying the 0.7800 area, where the pair reached the top over the last few days of trading. The pair lost 70 pips during the U.K.’s relegates on Thursday, but the move retraced during the 2nd part of the U.S. session.