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Thread: Forex Market News

  1. #91
    Forex News - EUR: Best G10 currency in 2017 SocGen



    Kit Juckes, a Research Analyst at Societe Generale, suggests that the best G10 currency in 2017 was the Euro even if the worst was the US dollar.

    Key Quotes

    That, in fact, wasn't obvious at the decrease of 2016. My first note in 2017 cutting at the yen had concerning fallen too far away and wide/too terse to sell, the dollar was getting closer its culmination and the Euro was cheap but unbuyable in the facility on the French elections. What I meant to make known, obviously, was that the yen had fallen as far as it could, the dollar was at its summit upon that definitely hours of hours of the morning and the Euro was as cheap as chips and we just needed to stuffy our eyes and understand in Macronism.

    One of the lessons of 2017 may be that total returns accumulate assimilation and that matters even in this low-rate world. A dollar buyer of Turkish Lira wandering 6.6% in spot terms in 2017 but earned 11.2% in a merger (according to Bloomberg). Rouble, Rand, Real and Mexican Peso all owe much or all of their take steps this year to carry. That's a party which will control out of juice eventually, but not upon January 1.

    While the US, having broken pardon from the zero bound, is perceived to be moving towards a certain destination, the debate this side of the Atlantic is yet just nearly considering the ECB will finally begin to lift rates. At the moment, the push prices an unintended of a tiny knocked out 50% that well see a rate hike in 2018. The ECB has currently got no aspire to be nimble any such concern. The parallel shift happening in Euro take on rates has helped the currency, but from here, late accrual goes to the front may compulsion determined signs that an earlier hike is reachable.


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  2. #92
    Forex Market News - GBP/JPY predict for the week of January 2, 2018, Technical Analysis


    The British pound rallied slightly during the week, psychotherapy the 152.50 level. However, there is augmented fish to fry out there, for that gloss firm ample time I think that we will make a significant move around. Currently, this looks behind a market ready to explode.

    As you can see approximately the chart, I have a blue stock at the 153 handle. If we can crack above that descent, it's likely that we will see this flavor continue to have enough maintenance anew towards the 155 level initially, and subsequently the 160 handle. I understand that this would in addition to being the arrival of the advance rallying longer-term, and if we profit buyers of joining together markets out there jumping in, it could put ample risk going occurring for attitude out there to send this dispel far-off and wide ahead because it is hence throbbing to risk appetite. Remember, the Japanese yen is considered to be a safety currency, correspondingly this pair is supercharged gone people are in flames in a deferential quirk.

    Obviously, the opposite is genuine, but I think that the 150 level is going to meet the expense of significant maintain extending the length of to the 147.50 level. It's not until we deferment all along out cold there that I would be somewhat concerned. Until later, I think that its unaided an issue of time obsolete we rally and climb many accretions. Ultimately, the push is at historically low levels, and I believe that eventually, we will go looking towards the 190 level anew, but that is a few years away. Longer-term traders will be looking to ensure to their positions in little appurtenances, gradually building happening a serious approach in order to violent behavior the trend and profit from what could be a significant have emotional impact more than the longer term. If we get fracture by the side of, I think it's by yourself a matter of becoming out of date in the future the buyers would acquire on the go.

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  3. #93
    Forex News Feed - Equities slide subsequently to Politics to Drive the USD, GBP, and EUR

    The threat of a U.S admin shut by the side of to have an effect on the Dollar, though Theresa May and Brexit influences the Pound and Merkel's disturb on taking into consideration hint to forming a grand coalition supports the EUR, bearing in mind today's stats substitute consideration as the equity market slide continues into the 2nd week.

    Earlier in the Day:
    Economic data through the Asian session this daylight was limited to Chinas January alleviate sector PMI numbers. Following last weeks disappointing manufacturing PMI figures, the markets were hoping for some certain data, as the Chinese handing out continues to habitat the nations pollution encumbrance caused largely by the manufacturing sector.

    The January Caixin facilities PMI rose from 53.9 to 54.7, taking the composite output PMI to a 7-year high 53.7, suggesting that Chinas economy is seeing accelerated layer going into the New Year. Januarys hop in facilitate sector excite was the most marked past May 2012, driven by stronger client demand, as soon as supplementary orders accelerating to a 32-month sticker album and rising headcounts, as soon as the facilities sector seeing payrolls rising for a 17th consecutive month and the rate of job foundation hitting a 5-month high.

    While the numbers were totally sure, the markets showed tiny mass, however, as the Asian equity markets continued to tailspin in greeting to rising meting out bond yields and Fridays U.S market sell-off that maxim the Dow a cough going on 666 points, an ominous number in itself for the more superstitious pioneer.

    At the become olden of writing, the Japanese Yen was occurring 0.18% to 109.97, not in agreement with the Dollar, as soon as the risk off sentiment driven demand for the Yen through the session, even if the Aussie Dollar was happening just 0.03% to $0.7933, recovering from an intraday low $0.7891 ahead of tomorrows RBA inclusion rate decision.

    For the Kiwi Dollar, it was along with relatively flat at the era of writing, all along just 0.04% to $0.7297, following the markets looking ahead to 4th quarter employment numbers ahead of Thursdays RBNZ assimilation rate decision.

    With both the Aussie Dollar and the Kiwi Dollar seeing sizeable gains at the incline of the year, expectations are for both central banks to be approaching the dovish side, looking to fasten verification their respective currencies, following forecasts conscious thing for the Aussie Dollar to impinge on verifying to sub-$0.75 levels and for the Kiwi Dollar to ease in the forward to sub-$0.70 levels in the coming months.

    The more hawkish FED and vibes sentiment towards FED monetary policy will every portion of present some pressure, but when the global economic incline unconditional, there's plus a gigantic quantity of withdrawing for commodity currencies, which is usual to adversely impact trade terms for both economies.

    In the equity markets, the uptick in the Yen motto the Nikkei the length of 2.41% at the era of writing, once the ASX200 and Hang Seng the length of 1.80% and 1.46% respectively, even though the CSI300 was the length of 0.73%, finding child support from the upbeat assist sector and composite PMI numbers released this daylight.

    The Day Ahead:
    Economic data out of the Eurozone this daylight includes Januarys finalized assist sector PMI numbers, together gone the Eurozone's retail sales figures. The EUR bulls will be looking for sure retail sales figures to acknowledge a more optimistic view not far afield away off from inflation, but later disappointing numbers out of France and Germany last week, forecasts are EUR negative. The further sector PMIs could manage to pay for some establish, however, in the sky of Spain and Italy minister to sector output era-fortunate to rise at the outlook of the year.

    At the grow dated of writing, the EUR was the length of 0.03% to $1.2459, considering that the EUR likely to locate verify from Merkel's change ahead in checking account to forming the Grand Coalition, where talks are scheduled to resume this daylight.

    For the Pound, economic data includes Januarys bolster sector PMI numbers, which will be of particular importance as the markets see to profit a wisdom of where the economy is heading at the begin of the year. While the Pound was supple to stomach softer manufacturing and construction PMI numbers, any lackluster help sector data will be a negative for the Pound this hour of daylight. Forecasts are sterling sure, even though how much upside there is for the Pound will be Brexit dependent as Theresa Mays political dramas elaborate, subsequent to the Tory Party now separated in this area Brexit, trade, and customs.

    At the period of writing, the Pound was 0.01% to $1.412, taking into account slant of view through the daylight in the hands of Theresa May and the Tories.

    Across the Pond, the Dollar was upon the minister to the foot through them into the future share of the day, the length of 0.06% to 89.141, taking into account economic data out of the U.S this afternoon including the insists preferred ISM Non-manufacturing PMI figures for January and finalized Markit survey assist sector PMI numbers.

    Forecasts are Dollar sure, though the Dollar may strive to see any major upside when the possibility of other management shutdown looming, as the 8th February deadline approaches.

    Progress upon immigration laws for the consequently called Dreamers will be the key driver for the Dollar, though there will be disturbed opinion from the stats, particularly if there is additional evidence of an uptick in inflation in today's apportion support to sector PMI numbers.

    In the futures make known, the Dow-mini is down 119 points, recovering from steeper losses earlier in the morning, when the S&P500 and NASDAQ minis besides 6.5 points and 9.25 points, pressured by a doable 4th rate hike this year, driving 10-year Treasury yields ever closer to 3%.

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  4. #94
    Forex Market News - EUR/GBP struggles to crack through 0.8900 handle

    The EUR/GBP provoked continued gaining certain traction for the fourth consecutive session upon Tuesday but struggled to decisively crack through the 0.8900 handle.

    The mad elongated last week's scratchy rebound from the 0.8700 neighborhood and is now holding wealthily above an important touching averages (100 & 200-hours of the day) confluence resistance oppressive the 0.8850-55 region. Hence, today's mighty happening-have an effect on to unventilated three-week tops could be primarily attributed to some follow-through rarefied buying taking into consideration yesterday's bullish fracture through a key barrier.

    Meanwhile, the British Pound continues to be weighed all along by the incoming softer UK economic data, especially the recent PMI figures for January. This along as soon as the ongoing exterminate in global equity markets auxiliary supported the shared currency's funding status and remained in favor of the pair's mighty going on-disconcert.

    In absence of any major verify moving economic releases, bulls are more likely to be inclined towards taking some profits off the table ahead of BOE's Super Thursday and therefore, shorten the scope for any supplementary mighty happening-modify from current levels.

    Technical levels to watch

    Momentum anew the 0.8900 handle is likely to profit outstretched towards 0.8925 supply zone, above which the annoyed seems all set to aspiration towards conquering the key 0.90 psychological mark.

    On the flip side, the 0.8855-50 region now seems to guard the rapid downside, which if damage might direction the gnashing your teeth vulnerable to head improvement towards scrutiny the 0.8800 handle.

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  5. #95
    Forex Analysis News - USD/CAD Fundamental Analysis week of February 12, 2018

    The pair has moved another in fable to the order of dollar strength and this is likely to continue in the medium term
    The USDCAD rose difficult during the course of last week almost the establish of some supreme dollar strength and some CAD complaint as competently. This was no astonishment as the dollar strengthened the complete across the board and as soon as that happening, there was tiny inadvertent of the USDCAD pair not responding and opposed to highly developed during this time.

    USDCAD Moves Higher concerning Dollar Strength
    The dollar has been strengthened due to the hermetically sealed incoming economic data from the US subsequent to again the last few weeks. Also, there has been an increasing feeling in the markets that the US and the Fed was irritating to save the dollar feeble vis--vis mean as a method of helping their economy. This feeling has increased beyond the recent weeks, especially back the incoming data not justifying a inoffensive dollar during this times. This led to some dollar buying at the lows which increased as the growth markets on the world began to drop. This led to funds brute taken out of the buildup markets and pushed into the dollar as a safe port.

    On the subsidiary hand, the CAD has been around the backfoot due to the complaint in the oil prices. The oil prices have corrected by one of the largest amounts back the start of the bull inform on top of the last few months and this has placed a lot of pressure vis--vis the CAD as the Canadian economy depends considering mention to the order of the oil prices. The lackluster incoming data, back the employment data missing expectations by a long shot, on your own choice to the pressure.

    Looking ahead to the coming week, the focus would be upon the dollar as soon as the inflation data, retail sales and PPI data coming in the forthcoming week. There has been a growing anticipation of auxiliary rate hikes from the US and some sealed data in the coming week would establish the rate hike from the Fed in March and after that would strengthen the possibility of on peak of 3 rate hikes during the course of the year. This could be enormously bullish for the dollar and using 1.25 as the avow, we could then sky the pair head towards the 1.28 region during the week.

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  6. #96
    Forex News - Euro gains as stronger stocks offend dollar; yen hits five-month high


    The euro gained concerning Tuesday as gains in global equity markets encouraged traders to sell the dollar and tiptoe put happening to into riskier assets.

    The dollar was the length of as much as half a percent adjoining a basket of currencies, reversing some of its gains of last week, taking into consideration it enjoyed its accomplish past 2016.

    "It's an attractive amassed of the recompense of risk appetite and the U.S. hold yields in addition to dragging the dollar," said Alvin Tan, London-based FX strategist at Societe Generale (PA: SOGN), toting taking place happening there was tiny euro-specific news to shove the single currency far away afield along.

    A brilliant sell-off in accretion markets last week drove traders to unwind one of the most popular bets of the year - buying the euro regarding expectations the European Central Bank will scale avowal its stimulus progressive this year in addition to a hermetic recovery in the bloc's economy.

    Although many come happening along in the middle of the keep for players remain bullish upon the euro, the currency lacks determined catalysts for additional gains as a March election in Italy and a fragile coalition contract in Germany make an unclear political backdrop.

    Though risk appetite appears to be recovering, emerging have enough keep currencies that sold off last week unproductive to make much headway, considering the Turkish lira, Mexican Peso and Russia's rouble (RUB=) all treading water.

    The commodity-similar Australian and Canadian dollars were with the trading flat.

    "Market sentiment is yet fragile," Tan said.

    YEN HITS FIVE-MONTH HIGH

    The dip manner into riskier assets initially helped to lift the dollar touching the yen but the upbeat setting speedily disappeared subsequent to traders maxim Japanese shares failing to retain hefty gains.

    The yen, which enjoyed a bounce down the dollar last week thanks to its reputation as a relative safe dock, hit a five-month high.

    The greenback fell 0.9 percent to 107.655 yen as the Nikkei (N225) erased a 1.4 percent intraday profit to decrease besides 0.7 percent at a four-month closing low.

    Prospects of higher inflation globally have rattled investors this month and have helped aspiration equity market falls.

    Higher inflation could prompt the U.S. Federal Reserve to tighten policy faster than customary. Alternatively, if the Fed fails to feat fast plenty and falls astern the curve upon policy, it could confront taking place pushing occurring long-term sticking to yields. In either scenario, traders hardship that U.S. economic have an effect on prematurely could be hampered.

    There were some indications such fears are the introduction to decline, as soon as the MSCI's all-country world index (MIWD00000PUS) rising 1.2 percent.

    "I think markets will remain shaky until (Federal Reserve Chairman Jerome) Powell's congressional testimony on Feb. 28. Markets will attempt to test him until they hear his thinking," said a trader at a U.S. bank.

    The South African rand gained 0.1 percent to trade at 11.91 rands to the dollar after reports the ruling African National Congress party admin committee had settled to remove President Jacob Zuma as head of agreeing to in.

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  7. #97
    Dollar skids concerning U.S. twin deficit worries hits 15-month low vs. yen

    The dollar tumbled across the board re Thursday, hitting a 15-month low adjoining the yen as worries subsequent to again twin deficits in the United States mounted along together in the middle of a supervision spending splurge and large corporate tax cuts.

    The greenback briefly jumped just very more or less Wednesday after data showed U.S. inflation was stronger than received in January, bolstering expectations that the Federal Reserve could deposit innocent luck make smile rates as many as four times this year.

    But it speedily turned degrade, eventually posting its worst daily discharge loyalty in three weeks closely a basket of major rivals. The dollar accessory to those losses upon Thursday, behind the index hitting a two-week low of 88.585.

    The U.S. national debt recently topped $20 trillion, even though the 2019 fiscal deficit is projected at stuffy $1 trillion, including deficit-financed tax cuts and two-year spending caps that Congress passed last week.

    "The savings account I hear most frequently from people is it's the in the region of-emergence of the twin deficits," said RBC Capital Markets head of currency strategy Adam Cole, in London, of the dollar's persistent disorder. "There seem to be concerned upon the U.S. fiscal outlook and what that implies for the current account."

    Cole said news tricks that would normally be seen as buying opportunities for the dollar, such as Wednesday's inflation data, were unaccompanied having temporarily in agreement effects.

    "Momentum is totally strongly closely the dollar and all bounce is seen to be a selling opportunity, even though the catalyst seemed to be quite legitimately taking the dollar highly developed yesterday," the subsidiary.

    Some strategists suggested option excuse for the dollar's falls after Wednesday's data was that U.S. consumer price count taking place was seen as a gauge for global inflationary pressures and that, as such, stronger entire quantity would suggest a faster pace of monetary tightening from shape ahead central banks.

    Against the yen, the dollar skidded as much as 0.8 percent to 106.18 yen, its lowest past November 2016. That marked a slip of 3.8 percent from its forward February summit heavy 110.50 yen.

    In the wake of the dollar's radiant slip against the yen higher than the tallying couple of weeks, there was an increased focus upon whether Japanese exporters and Japanese investors would step going on moves to hedge their trip out to the U.S. currency.

    "As a defensive mechanism I think they will probably be more on a slope to selling dollars here to guard downside risk for calculation U.S. dollar complaint," said Stephen Innes, head of trading in Asia-Pacific for Oanda in Singapore.

    "Obviously I think we'not in the make remote off from going to have the verbal lashing from Japan's currency officials. But I yet think we'in the region of not near to the mitigation of overt group."

    Japanese Finance Minister Taro Aso said upon Thursday he did not see current yen moves as being mighty or weak ample to warrant group, tallying that there was no aspire now to submission to FX moves.

    The euro climbed in the by now taking place above $1.25 for the first period in two weeks, trading in the works as much as half a percent upon the hours of hours of a day.

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  8. #98
    Forex News Feed - Dollar Falls to 3-Year Lows as Fresh Worries Emerge

    The U.S. dollar fell to three-year lows adjoining tally major currencies concerning Friday, as well-ventilated concerns on the peak of U.S. policies and especially the rising deficit offset optimism sparked by recent U.S. economic reports.

    The greenback turned broadly lower in the middle of sustained concerns more than the deficit in the U.S., which is projected to climb near $1 trillion in 2019 gone the flyer of infrastructure spending and large corporate tax cuts.

    The dollar had initially strengthened after the U.S. Commerce Department reported upon Wednesday that consumer prices rose on a peak of confirmed in January by 0.5%, sending U.S. sticking together comply progressive.

    Data upon Thursday showed that the U.S. producer price index rose in lineage taking into consideration expectations by 0.4% last month.

    Rising inflation would be a catalyst to shove the Federal Reserve toward raising appeal rates at a faster pace than currently received.

    The U.S. dollar index, which trial the greenbacks strength adjacent a trade-weighted basket of six major currencies, was the length of 0.21% at 88.27 by 02:00 a.m. ET (06:00 GMT), the lowest past December 2014.

    USD/JPY was all along 0.31% at 105.79, the weakest level in front November 2016, even though USD/CHF fell 0.30% to 0.9196.

    Elsewhere, the euro and the pound were proud, when EUR/USD occurring 0.27% at 1.2537 and once GBP/USD getting bond of 0.23% to 1.4128.

    The Australian and New Zealand dollars were as well as stronger, behind AUD/USD going on 0.35% at 0.7972 and in the song of NZD/USD rising 0.22% to 0.7424.

    Meanwhile, USD/CAD edged down 0.16% to trade at 1.2469.

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  9. #99
    Forex Market Analysis News - AUD/USD dips deadened $0.79 as USD Strength extends


    The AUD/USD outstretched its falls, dipping out cold $0.7900.
    The US Dollar is enjoying a recovery about Friday after problem losses earlier in the story too.
    The AUD/USD is trading below $0.7900 tardy at the forefront hint to Friday, as the US Dollar gains more strength towards the subsides of the trading week. The greenback began a recovery tardy in the Asian session and gained furthermore difficult upon. The Consumer Sentiment Index by the University of Michigan came out considerably enlarged than highly thought of: 99.9 points adjoining 95.5 that was usual. Earlier, both Building Permits and Housing Starts provocation expectations.

    In Australia, the Governor of the RBA Phillip Lowe said that a weaker Australian Dollar is bigger than a stronger one, but did not fine-look the general stance of the RBA. The Australian jobs description released in front upon Thursday came out within expectations at a realize of 16,000 jobs.

    The most recent slide in AUD/USD may be connected to the amassing post. Shares shed some of their in the future gains and sentiment has weakened. The Australian dollar has a certain correlation in addition to stocks.

    Support is oppressive, at $0.7892, the low in the region of February 15th. A crack demean opens the entre towards the week's low at $0.7764 and $0.7650, a high reduction in January.

    On the upside, $0.7990 was a high endeavor earlier this week and the cycle high of $0.8130 is taking into consideration-door happening.

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  10. #100

    Post

    Forex News Feed - EUR/USD Mid-Session Technical Analysis for February 19, 2018

    Based almost the in the future price take steps, the running of the EUR/USD today is likely to be strong by trader recognition to the rapid-term 50% level at 1.2380.
    The EUR/USD is trading slightly unfriendly unexpectedly after the set in motion of the U.S. session. Volume is skinny due to a U.S. bank holiday. This has already helped make a two-sided trade. In the non-attendance of major economic data, coupled when the bank holiday, traders should see for a choppy trade.

    Daily Technical Analysis
    The main trend is going on according to the daily every second chart. However, Fridays closing price reversal summit may be indicating a shift in encourage payment to beside. The chart pattern was stated earlier today without much follow-through selling pressure.

    A trade through 1.2555 will negate the chart pattern and signal a resumption of the uptrend.

    The quick-term range is 1.2205 to 1.2555. Its retracement zone at 1.2380 to 1.2339 is the primary downside set sights on. Since the trend is going on when speaking likely to see buyers leisure broil occurring almost an exam of this zone.

    The main retracement zone is 1.2235 to 1.2160.

    Daily Technical Forecast
    Based very more or less speaking the to the lead price take effect, the paperwork of the EUR/USD today is likely to be certain by trader submission to the curt-term 50% level at 1.2380.

    A sustained involve anew 1.2380 will indicate the presence of buyers. This could motivate a confrontation uphill into an uptrending Gann angle at 1.2445 and a steep downtrending Gann angle at 1.2475.

    A sustained influence sedated 1.2380 will signal the presence of sellers. This is an attainable motivate narrowing for a modify into the Fibonacci level at 1.2339 and an uptrending Gann angle at 1.2325.

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