Equilon FXFollow a question.
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Search the reference edition, explainers, experiments and historical archive. Choose a format to narrow your route.
100 entries
US dollar / USD
A domestic currency with a wider role in trade, financing and market comparisons.
Euro / EUR
Connect area-wide monetary policy with the national evidence that feeds into it.
Pound sterling / GBP
Read sterling through UK evidence while keeping the international comparison explicit.
Japanese yen / JPY
Separate the units of the quotation from the policy and funding narratives attached to the yen.
Swiss franc / CHF
Examine the exchange rate as part of the Swiss policy picture, without relying on a one-word market label.
Canadian dollar / CAD
Keep the Canadian outlook distinct from the US outlook when reading a closely connected regional story.
Australian dollar / AUD
Follow the separate channels connecting Australia’s economy with the rest of the world.
New Zealand dollar / NZD
Give New Zealand its own data and policy story before comparing it with a neighbouring economy or the US.
Federal Reserve
Read the US policy conversation as a balance between inflation, employment and the path of financial conditions.
European Central Bank
One monetary-policy framework serves a currency area with different national economic conditions.
Bank of England
For sterling, connect the policy decision with the UK inflation mix, pay data and the demand outlook.
Bank of Japan
Distinguish the monetary-policy framework from market narratives about the yen, funding and policy normalisation.
Swiss National Bank
Read the franc through monetary conditions, the exchange rate and the assumptions behind the inflation forecast.
Bank of Canada
A flexible exchange rate and an inflation-control target form the core of Canada’s policy framework.
Reserve Bank of Australia
Connect Australian policy with domestic demand, inflation and the external prices relevant to an open economy.
Reserve Bank of New Zealand
Read New Zealand’s inflation outlook alongside the transmission of the Official Cash Rate and external conditions.
US consumer prices
Identify the series and comparison before deciding what an inflation headline says.
US PCE price index
Separate the measure used in the policy objective from the spending data published alongside it.
US employment report
The Employment Situation contains two surveys and several distinct questions about work.
US gross domestic product
Separate output, prices, the rate convention and the stage of the estimate.
US retail sales
A dollar value of sales is not the same thing as a volume of consumption.
Euro-area consumer prices
Comparable definitions help build an area-wide inflation measure, but the geographical scope still matters.
UK average weekly earnings
An average can move because pay changes, the workforce mix changes, or both.
Japan’s business survey
A balance of business opinions is informative precisely because it asks a different question from output statistics.
EUR / USD
Two monetary-policy frameworks, one relative price.
GBP / USD
Compare the UK and US outlooks without losing the definitions inside the data.
USD / JPY
Keep quote direction, relative rate expectations and financing exposure separate.
USD / CHF
Compare a dollar policy view with the SNB’s assessment of Swiss monetary conditions.
AUD / USD
Follow domestic policy and external-price channels as separate parts of the comparison.
USD / CAD
A North American comparison that still requires two distinct economic assessments.
The decision and the surprise.
Why the same economic outcome can produce different market reactions.
Carry is one component.
An interest-rate difference does not remove exposure to the exchange rate.
One economy. More than one interest rate.
A policy rate, a bond yield and the shape of a yield curve answer different questions.
A trade is not finished when the price is agreed.
Execution establishes the transaction. Settlement delivers the currencies.
The expectation gap.
The same release can carry different information depending on what was expected.
The revision bridge.
A new observation can arrive alongside a rewritten picture of the previous period.
The quote mirror.
Turn an exchange rate around. The units reverse; the percentage change does not simply change sign.
Inside the basket.
Move a component weight and see how a headline can hide very different price changes.
Carry meets currency.
Put an interest return and an exchange-rate change into the same base-currency calculation.
The alternative story
Start with an observed move and examine several possible explanations, including evidence that could challenge them.
The Swiss franc / January 2015
The end of the EUR/CHF minimum rate is a case in distinguishing a policy commitment, a quotation convention and an executable price.
Sterling / October 2016
The sterling flash event shows why the sequence, trading conditions and mechanism matter more than finding a single convenient cause.
The UK gilt market / 2022
A study in collateral, forced selling and why an asset purchase for financial stability is not the same statement as a change in the policy-rate outlook.
Our approach
How to read Equilon FX: educational purpose, formats, sources, AI use and historical context.
AUD/USD: the 0.66 reclaim trade
Long from 0.6612 with stop at 0.6585 and target 0.6680. Why this level matters and why the timing is now.
The carry trade comeback: what changed in January
Carry was dead last year. Three weeks into 2026 it's the trade that's working. Here's why, and what it means for the desk's playbook.
The dollar's quiet rotation: what's actually moving
It's not USD/JPY everyone keeps watching. The real flows are in CAD and CHF — and the structure is telling.
DXY: 105 break or bust?
The dollar index is sitting on the most-watched level in FX. Here's what each side of the break means for G10 majors.
EUR/USD: the range trade we keep taking
Same fade, third time this month. Why mean reversion still works on this pair when the macro is balanced.
February's three skips and one clean win
Slow month, narrow ranges, lots of false starts. The trade we took, the three we passed on, and the math.
GBP/USD: 1.27 retest, third time lucky?
Same level, third visit. Why we're still willing to fade it — and what would make us walk away.
Journal & analysis
Explore the Equilon FX archive: macro analysis, trade setups, recaps and post-mortems.
Why we're long EUR/CHF — slowly
When the SNB is on the bid in CHF, you're not fighting them. You're trading with them. Here's how that's playing out.
NFP read: priced, paid, and parked
Why the headline didn't matter and the wage print did. What it means for DXY into next week.
NZD/USD: where the Kiwi tells you it's done
The Aussie's smaller cousin is flagging a reversal. Here's the level, the trigger, and why we're patient.
A quiet Friday with one clean trade
One entry, one exit, one screenshot. The week's only call and why we passed on three others.
Reading 2026: the macro we're trading into
Year-ahead is mostly a vanity exercise. But the regime we're walking into is unusually clear. Here's what the desk is positioned around for the next three months.
Why we got stopped on USD/CHF — and what changed in the playbook
Lost 1R on a setup we shouldn't have taken. The journal entry, the rule we're adding, and the screenshot.
The trade we didn't take: USD/CAD on oil
A clean setup, missed because of process. The lesson isn't "trade more" — it's tighter than that.
USD/JPY at 154: why we're not shorting it yet
Everyone's calling top. The desk is sitting on its hands. Here's the carry math, the BoJ stance, and the level we'll actually pull the trigger at — with a chart and a stop.
A week that paid: 3R locked, two skips justified
The trades, the misses, and the math. Plus what we got wrong on the macro read.
The historical casebook
Documented studies of the Swiss franc in 2015, the sterling flash event in 2016 and the UK gilt market in 2022.
Central-bank observatory
Eight central-bank profiles, official references and a side-by-side comparison of policy frameworks.
The Equilon FX channel
Explore the public Equilon FX Telegram publication: market concepts, explanatory notes and reading material.
Company details
Equilon FX is operated by NERIDIAN PARTNERS LTD, company number 16561252. Contact @sergesavini.
Contact Equilon FX
Contact the publisher for editorial questions, permissions and business enquiries.
Economic data desk
Eight guides to economic releases, with definitions, examples, reading checklists and original sources.
My reading desk
Save a reading list, keep private device-local notes and download a portable reading pack.
Anatomy of a trade idea
An illustrative EUR/USD trade plan: entry, invalidation, objective, risk and possible outcomes.
Twenty ways to explore
Discover twenty reading and exploration features in the Equilon FX reference edition.
Beyond the headline
Explore the forces behind foreign exchange. Equilon FX brings together macro explainers, market mechanics, learning paths and interactive experiments.
From a data release to your screen.
How the path information takes can change the way you interpret a fast market reaction.
Journal
Explore macroeconomics, liquidity, benchmarks and the mechanics of FX through the Equilon FX journal.
There is more to a quote than the price.
An introduction to liquidity providers, market depth and the questions a visible quote leaves unanswered.
Month-end flows: movement without a new opinion.
Portfolio rebalancing as a way to understand market activity that follows a mandate or schedule.
PCE and CPI: two gauges, different questions.
Why the inflation measure in the policy target and the one dominating the headlines are not always the same.
A reading list for central-bank communication.
Three books featured in the channel, approaching monetary policy through people, institutions and tools.
The London fix: why a benchmark matters.
The purpose of a common reference rate, and why a particular moment in the trading day deserves context.
The market lab
Nine interactive experiments in FX, inflation, expectations, revisions, market depth and currency risk.
Lower inflation. Higher prices?Hypothetical price index: 100, 108, 110.16
Start an index at 100. Choose two annual inflation rates and follow the price level through time.
A quote has a capacity.
Increase a hypothetical EUR buy order. The best offer stays the same, but only a limited amount is available at each level.
The allocation you did not choose.
Change the starting mix and asset returns. Watch the weights drift, even with no new transactions.
Read a currency pair.
Start with the units. A currency quote is the price of one currency expressed in another.
Read the release. Then the reaction.
A short routine for understanding an economic statistic before drawing a market conclusion.
The market glossary
Search 48 concepts in currency markets, policy, data, liquidity and settlement.
Learning paths
Three reading paths through FX fundamentals, macroeconomics and the interpretation of economic information.
Inflation is a rate. Prices are a level.
A slower increase is still an increase. Keeping the two ideas separate changes how you read inflation news.
Nominal and real. Different questions.
A quoted return and a change in purchasing power are not the same measure.
Currency atlas
Eight currency profiles and six major-pair guides connected to policy, data and practical examples.
Build a reading path
Choose a subject and a reading window to create a connected route through the Equilon FX library.
Privacy
How the Equilon FX website handles technical information and external Telegram contact links.
Reading room
A curated directory of official macroeconomic, FX market structure and monetary-policy references.
Risk disclosure
The limits of educational market commentary, historical examples and AI-assisted content.
How to read Equilon FX
The publication’s formats, source boundaries, use of AI, historical context, examples and correction process.
About Equilon FX
Equilon FX explores the connections between macroeconomics, information and currency-market mechanics.
Terms of use
The educational purpose and terms for reading and using Equilon FX.
Explore the topics
Explore macro and policy, market mechanics and the interpretation of financial information.
Macro & policy
Understand the measures, institutions and expectations that shape the monetary-policy conversation.
Market mechanics
Explore how a market operates: the available liquidity, common reference rates and transactions driven by portfolio rules.
Reading the market
Build a more careful reading habit. Identify the comparison, follow the source and distinguish an observation from its explanation.
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