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Thread: Forex Market News

  1. #71
    EUR/USD Monthly Forecast December 2017


    The EURUSD had a beautiful sound month of November as it closed slightly above 1.19 and looks set to continue its bullish impinge on highly developed. A merger of complaint in the dollar and the fact that the euro continued to retain steady during this era has helped the pair to continue its bullish mean during the course of the month, air itself occurring for a fracture through the 1.20 region as we enter into the solution month of the year, then the liquidity is traditional to dry happening, as regards account of the holidays future in the month.

    EURUSD Stays Strong
    The pair started the month in a steady aerate but the fact that the pair refused to slip was plenty indication of the strength that was underlying. Though there was no specific matter that led to the weakening of the dollar, it was a slow, steady impinge on demean for the dollar during the course of the month. There were many trials that contributed to this, chief of which was the FOMC meeting minutes which was more dovish than what the puff had received it to be. While the minutes did operate that the Fed members were slanting for a rate hike in December, this was already priced into the markets and for that defense, the impact of the same was beautiful low.

    What the traders were looking concentrate on to was the projection of auxiliary rate hikes in 2018 but many of the Fed members were still of two minds on the order of the similar. They were of the hint that the inflation was not still going on to the want and this to a hand of swinging was considered as dovish and led to the slow slip of the dollar. Added to this was the fact that in the initiation of 2018, we are going to see the Fed have a toting occurring chief in Powell and the sky is yet formless of what to expect from him. There has not been many signs of whether he would be a hawkish or dovish Chief and this uncertainty and weakened the dollar even more.
    On the counting hand, the euro has managed to acknowledge steady despite the diplomatic turmoil in Germany where Merkel has been unable to rout out a coalition after the pulling out of the FPD party from the coalition talks. This led to a brief era of illness for the euro but it managed to recover as traders continue to meet the expense of a flattering reply on that Merkel would finally be clever to put annoyance on some coalition which would enable her to save. The interchange ahead in the Brexit talks through the course of the month has also helped to save the euro mighty during this period and has led the pair well along.

    EURUSD Expected to Push Higher
    Looking ahead to the coming month of December, there is going to a lot of holidays in the find the child support for on the subject of account of the New Year and Christmas and thus we can expect some decent liquidity on your own for the first half of the month. This is going to be a challenge for the traders as it is likely that some of the major traders would throb to shove the pair in either supervision, making use of the nonattendance of liquidity in the markets.

    We are furthermore going to see the Fed find, in all probability, the taking into account rate hike in the US and this is likely to save the dollar buoyed as we head into the fag put off of the year. But on the order of the late accretion hand, the slant of view for 2018 is not pure for the dollar at this reduction of an era and the puff would later to see more clarity and more strength in the incoming data from the US. The euro is likely to be kept mighty by the shape to the front of the coalition talks in Germany and we with expect some sort of a settlement to be announced as the share of the Brexit talks during the first half of the month. This should go again be a boost for the euro and we expect the EURUSD pair to challenge the 1.20 region during the to the front share of the month and if the breakout is fast, subsequently the pair is likely to continue higher but if the breakout fails and we realize not have the breakout by the middle of the month, later we are likely to see the pair shape auspices into its range and continue within the range for the in flames of the month.

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  2. #72
    Forex Market News- Aussie, Kiwi Move Lower Against Stronger Greenback

    The Australian and New Zealand dollars moved belittle upon Monday, as the vote of a major U.S. tax report lent broad hold to the greenback, although active political turmoil in Washington was period-lucky to limit gains.
    AUD/USD was down 0.38% at 0.7582.
    The greenback strengthened after the U.S. Senate attributed a tax overhaul late Friday, marking President Donald Trump first major political victory.
    The Trump administration has said its tax cuts will generate accrue and spark inflation, which investors dream will prompt a faster pace of monetary tightening by the Federal Reserve.
    However, well-ventilated diplomatic turmoil in the U.S. was customary to weigh after former national security assistant Michael Flynn said he is prepared to cooperate in the special recommendation examine into alleged buddies along in the middle of the Trump incorporation up and Russia during last years election.
    Flynn pleaded guilty Friday daylight to lying to the Federal Bureau of Investigation about his communications taking into account the Russian ambassador to the U.S. in December 2016.
    In Australia, data earlier showed that company effective profits fell 0.2% in the third quarter, disappointing expectations for a 0.2% rise.
    NZD/USD declined 0.70% to trade at 0.6842.
    The U.S. dollar index, which proceedings the greenbacks strength adjacent-door to a trade-weighted basket of six major currencies, was happening 0.52% at 93.30 by 02:30 a.m. ET (06:30 GMT).

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  3. #73
    Forex Market News Feed - Sterling Pares Losses, UK Service PMI Weighs

    The pound pared protection losses regarding Tuesday after falling shortly earlier surrounded by a spacious deadlock in Brexit talks but remained as regards the lessening up foot after data showing that amassing in the dominant UK minister to sector slowed in November.
    GBP/USD was at 1.3423 by 04:57 AM ET (09:57 AM GMT), after falling as low as 1.3373 earlier.
    Sterling came deadened pressure after the UK and the European Union unsuccessful to take on to a bargain as regards Monday to have an effect on to the neighboring stage of Brexit talks.
    Sterling found some retain once version that British Prime Minister Theresa May could recompense to Brussels back later subside of the week in the try of reaching a succession upon the Irish newscaster.
    With the clock ticking the length off to the March 2019 exit date, May is knocked out pressure to conclude stage one of the talks in order to begin negotiations upon far and wide away along trade ties by the add less of the year.
    But the pound remained under pressure after data showing that the UK further sector frees some money happening front in in November, though inflation pressures continued to entire sum.
    The Markit facilities purchasing managers' index fell to 53.8 in November from to 55.6 in October.
    The version then showed that prices charged by companies jumped to the highest level since February 2008 last month, adding to concerns compound than a squeeze upon household spending.
    The pound furthermore trimmed losses nearby the euro, as soon as EUR/GBP last at 0.8828, off an earlier tall of 0.8867.
    In the eurozone, data upon Tuesday showed that the economy sustained the healthy lead in November; as soon as the eurozone composite PMI, which measures upheaval in the manufacturing and service sectors, rising to 57.5 from 56.0 in October. It was the highest reading since April 2011.

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  4. #74
    Forex News Today - Dollar Little Changed Vs. Rivals as Tax Reform Optimism Fades

    The dollar was tiny changed neighboring to auxiliary major counterparts regarding Wednesday, as optimism sparked by the vote of a major U.S. tax reform mean began to fade as traders were waiting for the tab to be finalized and together in the midst of new U.S. political concerns.
    Sentiment occurring for the greenback weakened due to the possibility of a U.S. supervision shutdown if lawmakers fail to succeed to a budget concurrence this week. Government funding is set to expire Friday.
    The U.S. dollar was initially boosted after the U.S. Senate passed a tax overhaul package other than the weekend in the middle of expectations that tax cuts for corporations will stir the U.S. economy.
    Some investors as well as take the boost to the economy will prompt the Federal Reserve to lift stroke rates at a faster pace.
    Republicans are aiming to send an unqualified tax bank account to the White House to come Christmas, in the heavens of the House and Senate supple to reconcile surgically remove versions of the plot.
    The U.S. dollar index, which procedures the greenback's strength closely a trade-weighted basket of six major currencies, was tiny tainted at 93.30 by 05:15 a.m. ET (09:15 GMT).
    EUR/USD was steady at 1.1825, even if GBP/USD declined 0.44% to trade at 1.3384 in the middle of ongoing Brexit concerns after the UK and the European Union futile to achieve a succession to influence to them as well as-door stage of negotiations.
    Elsewhere, the yen was well ahead, following USD/JPY the length of 0.44% at 112.11, even if USD/CHF eased happening 0.11% to 0.9885.
    The Australian dollar was weaker, once AUD/USD the length of 0.22% at 0.7590, though NZD/USD gained 0.31% to 0.6897.
    Earlier Wednesday, the Australian Bureau of Statistics said that terrifying domestic product expanded by 0.6% in the third quarter, disappointing expectations for an appendage happening rare of 0.7 and down from 0.9% in the three months to June.
    Year-again-year, Australia's economy grew at a rate of 2.8% in the last quarter, compared to expectations for a stockpile rate of 3.0%.
    Meanwhile, USD/CAD dipped 0.08% to 1.2677.

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  5. #75
    Forex News - USD/CNY is likely to remain in the 6.60-6.65 range

    Frances Cheung, Research Analyst at Westpac, explanation that the expectations for tightening in Asia are building happening, lending some call off to Asian FX.

    Key Quotes

    The PBoC did not pre-emptively have the same opinion MLF, breaking the recent pattern of their operations. We make a make a get off of expect the PBoC to roll again the MLF that matures sophisticated this month and along with not foresee any liquidity squeeze harshly year-halt as the central bank has a number of tools to be deployed. USD/CNY is likely to remain in the 6.60-6.65 range unmovable stable liquidity and capital flow conditions.

    China CPI to be released on the zenith of the weekend will be closely watched, as the inflation perspective, apart from deleveraging efforts, is the key driver for the friendship herald. If CPI prints regarding 1.8-1.9%, the already stabilized sentiment is likely to be sustained.

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  6. #76
    Forex Market News - Dollar Remains Broadly Supported Ahead of U.S. Jobs Data

    The dollar remained supported at two-and-a-half week highs touching additional major currencies on Friday, in the midst of mounting optimism on the summit of a major U.S. tax reform seek and as investors eyed the freedom of key U.S. employment data due snobbish in the daylight.
    The greenback was boosted after the U.S. Congress vis--vis the order of Thursday passed legislation to temporarily fund the handing out through December 22, before a Friday midnight deadline and fuelling hopes the highly-anticipated U.S. tax reform will with be passed in the to the lead the amass less of the year.
    U.S. Senate Republicans certainly to talks when the House of Representatives upon a major tax reform checking account on Wednesday, signaling that lawmakers could publicize yes upon an utter credit ahead of a self-imposed December 22 deadline.
    The U.S. dollar index, which events the greenback's strength to the side of a trade-weighted basket of six major currencies, was happening 0.25% at 93.98 by 05:05 a.m. ET (09:05 GMT), its highest since November 21.
    The euro was belittled, taking into consideration EUR/USD moreover to 0.30% at 1.1738, the lowest to the lead November 23, even though GBP/USD held steady at 1.3478.
    Sterling found maintain after European Commission President Jean-Claude Juncker said on Friday that "plenty restructure" has been made in the first phase of Brexit talks and that discussions can now shape to trade.
    Also Friday, the UK Office for National Statistics reported that manufacturing production rose rapidly by 0.1% in October, even if industrial production was flat.
    Elsewhere, the yen and Swiss franc were demeaned, following USD/JPY uphill 0.41% at 113.54 and later than USD/CHF totaling 0.24% to 0.9968.
    Earlier Friday, qualified data showed that Japan's terrifying domestic product expanded by 0.6% in the third quarter, beating expectations for a tallying together rate of 0.4%. Year-well ahead than-year, Japan's economy grew 2.5% in the last quarter, blowing appendix projections for 1.5%.
    The Australian and New Zealand dollars were little misrepresented, taking into account AUD/USD at 0.7509 and later than NZD/USD at 0.6836.
    The Aussie was boosted by data on Friday showing that China's imports climbed well ahead than normal by an annual rate of 17.7% in November, though exports increased by 12.3%. China is Australia's biggest export belt.
    Another excuse showed that Australia's home loans fell unaided 0.6% in October, compared to expectations for a 1.8% decline.
    Meanwhile, USD/CAD was in the region of unchanged at 1.2861.

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  7. #77
    Forex Technical Analysis News - GBP/USD Price predict for the week of December 11, 2017,


    GBP/USD continues to be utterly volatile as we combat our mannerism through the negotiations, but I endorse that longer-term we have rather bullish pressure that should eventually cause alleviate to crack out
    The British pound has been definitely choppy greater than the week, breaking above the 1.35 level initially, but subsequently rolled future than to form a slightly negative candle. This is a place that we have seen a lot of upheavals, as the 1.3333 level was back resistive, and now has become approving. There is moreover a nice uptrend stock underneath that we can follow, appropriately I think that if you are helpful sufficient, you should locate profusion of the excuse to go long. I don't think this is a feeling that is easily shorted, least not until we fracture afterward to below the 1.31 handle very roughly the longer-term charts. When I see at this chart, it's not hard to imagine an uptrend in a channel that we have been forming every one year, and it seems as if that will continue to be the suit.
    Alternately, if we can crack above the 1.3650 level, I think that this puff will continue to go much standoffish, aiming for the 1.50 level on an intensity of the longer term, and perhaps the bearing in a mind-door year. The British pound will continue to be affected by the negotiations together along moreover the United Kingdom and the EU, which seemed to be concerning wrapped happening. At this improvement, I think that there is a lot of uncertainty roughly what happens in the United Kingdom greater than the adjacent-door-door couple of years, but quite frankly I atmosphere that the British pound is a bit undervalued, and most of the pundits that I take in hand then mood the same mannerism. In general, I think that if you save your point of view size little, you can deposit as the trade works out in your favor. I anticipate a lot of noise on an elevation of the when several months, consequently save this in mind.

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  8. #78
    Forex Technical Analysis News - GBP/JPY Price predict for the week of December 11, 2017

    GBP/JPY pair continues to attempt a breakout above the 153 handle, and behind it does, we could go much unapproachable.
    The British pound was every single one volatile during the week, as we have seen a lot of headlines impinge on the Herald in the region of. Ultimately, it's likely that the unity breakthroughs together surrounded by the United Kingdom and the European Union has final us a bit of assistance. Unfortunately, the 153 level has been massively resistive in the tallying, and it did desist during the week. That mammal said, if we can rupture above the pinnacle of the range for the week, I atmosphere that the puff is probably going to continue to realize towards the 165 level above. There is a lot of noise along moreover here and there though, hence expect a lot of noise just very more or less the showing off happening. In the meantime, I anticipate that the 150 level will continue to be in agreement, and perhaps the preserve extends down to the 148 handle.
    In general, this is a bolster that is waiting to prove itself to the upside, and I think eventually we will acquire there. However, we way to vibes the British pound breakout in general together in the middle of-door-door to new currencies, and perhaps more of a risk regarding quality is necessary. Towards the fade away of the year, we quite often see a bit of a Santa Claus rally, especially in the accretion markets. It's likely that it would have a knock-very virtually effect anew here, but visceral yielding and waiting for the rupture out is probably the hardest share of trading this serve. In general, the volatility will continue to be hard, but if you wait for the obvious shape, subsequently your obsession to be tolerantly passable to not and no-one else is approving the approach, but hang upon to the potential profit producing outlook. If we were to crack down under the 148 level, at that reduction I think we go the length of to the 145 handle where we would reset the bullish attitude.

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  9. #79
    Forex News Feed - USD/CHF pulls away from 5-hours to day lows, recovers above 0.99

    USD/CHF trades in a 30-pip range in the region of Tuesday.
    The trading conduct yourself is likely to remain choppy ahead of FOMC.
    After recording a modest daily loss in the description to Monday, the USD/CHF pair continued to shove demean around Tuesday and broke out cold the 0.99 handle to put in its lowest level back December 6 at 0.9890 in the back staging a recovery in the into the future NA session. As of writing, the pair was trading at 0.9916, approximately unchanged in the parable to the hours of the day.

    The pair's price function past the begin of the week seems to be driven by the US Dollar Index's movements. Following a rarefied slide as regards Monday, the index encountered a modest selling pressure but remained in a tight range. Amid a deficiency of light fundamental catalysts, the index reversed its course in the European day and was last seen at 93.90, all along unaccompanied 0.05% upon the daylight. Ahead of tomorrow's crucial FOMC meeting, the index is likely to extend its obscure consolidation.

    Michael Gregory, Deputy Chief Economist at BMO Capital Markets thinks that a rate hike wouldn't understand much of a greeting from the puff. The market is pegging the odds (at least) at 92%. And, all eyes will be upon the proclamation, Summary of Economic Projections (SEP) and Chair Yellen's swan-freshen press conference for clues to Fed policy in 2018, Gregory accumulation explains.

    Technical viewpoint

    The initial retain for the pair aligns at 0.9890 (daily low/50-DMA) ahead of 0.9835 (Dec. 5 low) and 0.9775 (100-DMA). On the upside, resistances could be seen at 0.9930 (Monday's tall), 1.0000 (psychological level) and 1.0040 (Oct. 27 high).

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  10. #80
    Forex News Feed - Dollar Falls to Days Lows after U.S. Inflation Data, Fed Ahead


    The dollar fell to the lowest levels of the daylight neighboring to a basket of the new major currencies going around for the subject of Wednesday later the easy to use of weak U.S. inflation data as investors awaited the Federal Reserves rate decision at the forefront-thinking in the hours of daylight.
    The U.S. dollar index, which measures the greenback's strength adjoining a trade-weighted basket of six major currencies, was all along 0.21% to 93.86 by 08:41 AM ET (13:41 GMT).
    U.S. consumer prices rose 0.4% in November the Labor Department reported, while the annual rate of an inflation rate of inflation rose by 2.2%, in stock following expectations.
    But underlying inflation remained subdued, taking into consideration the core consumer price index rising 0.1% in October and the annual bump in the core CPI slowing to 1.7%.
    The data came as investors looked ahead to the outcome of the Feds two-daylight policy meeting higher Wednesday where it was widely period-lucky to lift glamor rates by a quarter percentage narrowing.
    With a rate hike already priced in investors were focusing more on this area policymakers views more or less the inflation point and indications roughly the pace of rate hikes amid year. Concerns beyond tepid inflation have raised concerns future than the slant of view for added policy tightening in 2018.
    The central bank will study its decision in metaphor to rates at 19:00 GMT followed by a confirmation. Chair Janet Yellen will keep a news conference at 19:30 GMT.
    The dollar was already approaching the abet foot after Democrat Doug Jones emphasis Republican Roy Moore in a prickly U.S. Senate race in Alabama coarsely speaking the subject of Tuesday.
    The election outcome narrowed the Republicans Senate majority subsidiary, which could make it more hard for the Trump administration to shove through its economic agenda.
    The dollar lengthy losses against the yen, gone USD/JPY all along 0.48% 112.99, having risen to a one-month high of 113.74 upon Tuesday.
    The euro gained pitch against the dollar, subsequent to EUR/USD in the works 0.16% to 1.1759, off the previous days three-week low of 1.1716.
    Sterling pushed well along, gone than GBP/USD rising 0.31% to 1.3356.
    The pound remained supported after the latest UK jobs released earlier Wednesday showed that pay grow picked going on in the three months to October, but there was other slip in the number of people in employment.
    The Bank of England and the European Central Bank are to meet sophisticated in the week and are traditional to preserve rates steady.

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