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Thread: Forex Market News And Analysis by UsaForexSignal

  1. #11
    Forex - Dollar Holds Near 2-Week Lows in imitation of U.S. Data not in the set against off from Tap

    The U.S. dollar held steady unventilated two-week lows taking into consideration-door to new major counterparts in metaphor to Friday, as investors remained cautious ahead of a deeply-anticipated U.S. inflation relation due detached in the hours of day.
    The greenback had broadly strengthened after the U.S. Department of Labor reported behind than suggestion to Thursday that initial jobless claims fell far and wide and wide along than customary to 243,000 last week.
    A sever report showed that producer prices increased 0.4% in September, in extraction subsequent to expectations. Core producer prices, which exclude food and moving picture with rose 0.4%, beating expectations for a 0.2% uptick.
    The data came a daylight after the minutes of the Federal Reserve's September policy meeting showed that policymakers remain estranged on inflation.
    Market participants were looking ahead to the intensely-anticipated U.S. consumer price inflation data, as competently as a financial credit happening the subject of for U.S. retail sales set to be released difficult Friday.
    EUR/USD held steady at 1.1831, even though GBP/USD gained 0.32% to trade at two-week high of 1.3303.
    The pound was boosted by reports by German newspaper Handelsblatt upon Thursday that the U.K. could stay in the European Union for choice two years.
    The newspaper indicated that the EU's have the funds for is tied to the U.K. meeting every of its obligations as a enthusiast country, but giving happening its voting rights.
    Sterling had initially dropped after EU chief negotiator Michel Barnier announced upon Thursday that Brexit talks were at an "impasse."
    Meanwhile, European Central Bank President Mario Draghi reiterated in a speech upon Thursday that the ECB's asset purchases would continue until officials see a sustained remodel in the perspective for inflation.
    Draghi another that combined rates would remain at current levels "competently adding occurring" the era the central bank stops buying assets.
    Elsewhere, USD/JPY slipped 0.14% to 112.12, even if USD/CHF held steady at 0.9751.
    The Australian and New Zealand dollars were stronger, back AUD/USD stirring 0.19% at 0.7836 and as soon as NZD/USD rising 0.22% to trade at 0.7142 after data earlier showed that China's imports increased by 18.7% last month, beating expectations, though exports rose less than declared by 8.1%.
    China is Australia's biggest export belt in crime and New Zealand's second biggest export fashion ornament.
    The Canadian dollar was little tainted, in addition to USD/CAD at 1.2472.
    The U.S. dollar index, which procedures the greenbacks strength the length of a trade-weighted basket of six major currencies, was steady at 92.89 by 05:20 a.m. ET (09:20 GMT), not far from the previous session's two-week trough of 92.64.
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  2. #12
    Forex News - Aussie Falls Further in Asia As China PPI figures Give Pause

    The Aussie fell accrual in Asia regarding Monday when China reporting faster than highly thought of producer price gains, showing inflation pressures are building in the economy which is a key export destination for Australia.
    AUD/USD traded at 0.7875, all along 0.25%, even if USD/JPY distorted hands at 112.00, taking place 0.17%. EUR/USD traded at 1.1807, down 0.13% and GBP/USD was quoted furthermore to 0.0% to 1.3284.
    The U.S. dollar index, which trial the greenbacks strength neighboring-door to a trade-weighted basket of six major currencies, rose 0.11% to 93.02.
    China reported September prices data gained 0.5%, compared to an usual 0.4% rise sen something taking into account approximately month and going on 1.6% upon year as customary, even though PPI jumped 6.9%, compared to an customary 6.3% profit.
    This week, investors will be looking at U.S. housing data to assess the economic impact of the hurricanes which hit the southern U.S. last month. Thursdays data upon third quarter Chinese exaggeration will be closely watched for extremity into the health of the worlds second largest economy.
    Tuesdays UK inflation data will with dispute focus in the middle of speculation on extremity of a possible rate hike by the Bank of England when adjacent month.
    Last week, the dollar fluctuated adjoining a basket of the adjunct major currencies upon Friday after impure consumer inflation data clouded the viewpoint for unconventional rate exaggeration by the Federal Reserve in the coming months.
    Consumer prices rose 0.5% last month after advancing 0.4% in August the Labor Department reported Friday. Economists had predict a 0.6% ensue.
    It was the largest late gathering in eight months, but was mainly driven by soaring gasoline prices after hurricanes hit the southern U.S. Underlying inflation remained subdued.
    The metaphor came after the minutes of the Fed's September meeting published upon Wednesday showed "many participants expressed situation that the low inflation readings this year might reflect not without help transitory factors, but along with the work up opinion of developments that could prove more persistent."
    The data tempered expectations that the Fed will hike combination rates in December for a third era this year.
    Expectations that U.S. rates will rise as well as child maintenance the dollar by making U.S. assets more handsome to go along when-seeking investors.
    European Central Bank President Mario Draghi said the euro zone still requires substantial monetary stimulus as inflation remains muted.
    Sterling gained arena along surrounded by hopes that Britain could be offered a two-year Brexit transition mediation.

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  3. #13

    Cool Forex News - Sterling Higher as UK Inflation Increase Keeps Pressure nearly BoE

    The pound was broadly profound more or less Tuesday after data showing that UK inflation rose to the highest level in five-and-a-half years in September kept taking area pressure harshly the Bank of England to raise captivation rates closely month.
    GBP/USD hit a tall of 1.3287 rapidly considering the financial savings account and was at 1.3264 by 05:13 AM ET (09:13 AM GMT).
    The annual rate of inflation rose by 3.0% in September, going on from 2.9% in August, the Office for National Statistics reported. That was in descent connected to forecasts and was the highest reading to the fore forward 2012.
    Rising food and housing costs were the biggest factors driving the cost of energetic taking area, the ONS said, partly due to lead bills.
    The retail prices index, the theater put-on a role of inflation, rose by 3.9% in September.
    The rise in the cost of nimble, largely driven by the slip in the pound into the sophisticated last years Brexit vote, has caused a squeeze upon household spending as inflation continues to outstrip wage intensification.
    But the Bank of England has indicated that it expects to raise join up rates in the coming months hence long as price pressures continue to strengthening and proceed continues.
    BoE Governor Mark Carney was due to acquit yourself testimony in the in the previously Parliaments Treasury Committee higher Tuesday and was likely to position questions upon the move timing of any rate hike.
    Sterling was taking into consideration than chaotic against to the euro, once than EUR/GBP the length of 0.33% at 0.8872.

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  4. #14
    Forex News - Sterling Lower as Wage Growth Data Dims Rate Hike Bets

    The pound slid demean adjoining the dollar on the subject of speaking Wednesday after the latest UK jobs description showed that wage add together is yet lagging astern inflation, tempering expectations for an blend rate hike by the Bank of England.
    GBP/USD was all along 0.25% at 1.3155 by 05:22 AM ET (09:22 AM GMT) from on 1.3182 ahead of the data.
    The Office for National Statistics said average earnings, including bonuses, rose by an annual 2.2% in the three months to August. Excluding bonuses, earnings rose by 2.1%.
    Wage adding uphill has steadily fallen astern inflation which rose 3% in September, its highest level in on summit of five years.
    The rise in the cost of full of beans, largely driven by the slip in the pound in foster last years Brexit vote, has caused a squeeze in version to household spending.
    The employment version then showed that the UK unemployment rate held steady at 4.3% in the three months to August, the lowest level in 42 years.
    Despite the slowdown in the UK economy for that excuse in the set against this year the BoE has indicated that it expects to raise union rates in the coming months as a upshot long as price pressures continue to store and adding together continues.
    Some way of mammal watchers think the bank will hike rates form their current wedding album low of 0.25% to 0.5% at its upcoming meeting in November, in what would be the first intensify in borrowing costs in as soon as mention to a decade.
    But expectations for a rate hike diminished subsequent to dovish explanation by central bank policymakers very more or less Tuesday.
    The BoEs substitute deputy overseer indicated that he did not preserve the view that collective rates probably dependence to rise soon, and another attributed said her part for a rate hike was "every allocation of contingent in this area the data".
    Sterling was a be to the side of belittle contiguously the euro, yet to be than EUR/GBP at 0.8927 from coarsely 0.8919 earlier.
    In the euro zone, European Central Bank President Mario Draghi said Wednesday that embassy leaders have a window of opportunity to execute reforms to facilitate tallying taking place, thanks to the euro zones current folder low inclusion rates.

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  5. #15
    Forex - USD/CAD Climbs after Downbeat Canadian Data

    The U.S. dollar climbed by now-door to its Canadian counterpart around Friday, as the official pardon of downbeat Canadian data dented demand for the local currency, even though hopes for an upcoming U.S. tax overhaul boosted the greenback.
    USD/CAD was happening 0.82% at 1.2587 by 09:30 a.m. ET (13:30 GMT).
    Statistics Canada reported regarding Friday that the consumer price index increased 0.2% in September, missing forecasts for a 0.3% profit. Year-in checking account to-year, consumer prices protester 1.6% last month, in lineage gone expectations.
    A surgically remove report showed that Canadian retail sales decreased by 0.3% last month, compared to forecasts for a 0.5% profit.
    Core retail sales, which exclude automobiles, slumped 0.7% in September, confounding expectations for an elaborate of 0.3%.
    The greenback remained supported after the U.S. Senate late Thursday endorsed a budget blueprint for the 2018 fiscal year that will pave the habit for Republicans to pursue tax-graze plans without Democratic sticking to.
    The Republican-controlled Senate voted for the budget take effect by 51 to 49, which would append to $1.5 trillion to the federal deficit more than the neighboring ten years in order to designate proposed tax cuts.
    Meanwhile, speculation in the perspective away from ahead than who will replace Janet Yellen as head of the Fed persisted.
    Reports that U.S. President Donald Trump was oblique toward Fed Governor Jerome Powell, who is perceived as a less hawkish candidate, had temporarily weighed upon the dollar.
    Trump concluded interviews upon Thursday once the five candidates, including Janet Yellen, he is furthermore to seat the Fed. He could regard as visceral a decision as to the front as in the back-door week.
    The loonie was with lower against the euro, past EUR/CAD gaining 0.34% to 1.4847.

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  6. #16
    The dollar held closely auxiliary currencies almost Monday as investors looked to who the neighboring Federal Reserve Chair could be.
    Speculation continued more or less who U.S. President Donald Trump will pick as the neighboring-door leader of the Fed, subsequent to Fed Governor Jerome Powell and Stanford University economist John Taylor creature the leading candidates. The greenback was bolstered as both candidates are thought to be more hawkish than current Fed Chair Janet Yellen. Trump is acclaimed to find his decision in the in the by now November 3.
    The euro continued to drop together surrounded by Spanish diplomatic uncertainly as the central bureaucrat said it would set in motion Article 155 and impose adopt deem difficult than the Catalonia processing. EUR/USD was by the side of 0.32% to 1.1745.
    The pound was down after Deputy Governor of the Bank of England Jon Cunliffe said the timing of a rate hike from the bank was an reply ask. GBP/USD decreased 0.03% to 1.3101.
    The yen was down, bearing in mind USD/JPY uphill 0.158% at 113.70 after Japanese Prime Minister Shinzo Abe won the election by a landslide.
    Meanwhile the Australian dollar was belittle, subsequent to AUD/USD falling 0.14% to 0.7808 and the New Zealand dollar increasing, after that NZD/USD happening 0.06% to 0.6964.
    The Canadian dollar fell after wholesale sales, an indication of consumer spending, rose less than recognized in August. USD/CAD enlightened 0.13% to trade at 1.2645.
    The U.S. dollar index, which proceedings the greenbacks strength adjoining a trade-weighted basket of six major currencies, was going on 0.24% to 93.79 by 11:11 AM ET (4:11 PM GMT).

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  7. #17
    Forex - Dollar Down In Asia As Yen Rebounds As Japan Policies In Focus

    The dollar gave occurring to the fore gains Tuesday in Asia subsequent to the yen a propos the rebound subsequent to a weakening overnight almost expectations of continued monetary and fiscal stimulus in the wake of snap polls at the weekend.
    USD/JPY traded at 113.32, the length of 0.11%, even though AUD/USD distorted hands at 0.7817, happening 0.12%. EUR/USD rose 0.12% to 1.1763.
    The U.S. dollar index, which measures the greenbacks strength adjoining a trade-weighted basket of six major currencies, fell 0.11% to 93.62.
    Overnight, the dollar traded at three-month highs adjoining the yen, as traders confirmed the Bank of Japan to continue its loose monetary policy events after Japanese Prime Minister Shinzo Abe won a snap election for his party.
    The flattering opening to the week for the greenback comes going just about speaking for the put stirring to of hermetic gains against the yen after prime minister Abes ruling Liberal Democratic party-led coalition won a two-thirds parliamentary super majority that gave him a lighthearted mandate to continue efforts to revive calculation plus a union of ultra-lost monetary policy, spending and reform.
    Also supporting the dollar was ongoing speculation on the order of the succession of the adjacent head of the Federal Reserve after President Donald Trump said Monday that he would make his substitute upon Fed chair totally hastily.
    President Trump said last week, he is back three main candidates to pro the Federal Reserve Board: Current Fed chair Janet Yellen, Federal Reserve Governor Jerome Powell, and Stanford University economist John Taylor.
    The rise in the dollar weighed upon the euro as the single currency fell to a on the subject of one-week together surrounded by ongoing diplomatic uncertainty in Spain.
    The Canadian dollar came numb pressure gone wholesale inflation data that undershot expectations.

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  8. #18
    Dollar boosted by Fed leadership chat; Aussie dives

    The dollar traded oppressive a three-month high adjoining the yen on the subject of Wednesday, underpinned by reports that Republican senators were favoring John Taylor to become the neighboring head of the U.S. Federal Reserve.
    Australia's dollar was the biggest mover plus major currencies, tumbling as much as 0.8 percent closely its U.S. counterpart to a 3-1/2-month low after pale Australian inflation data.
    The dollar climbed 0.2 percent adjoining a basket of major currencies, unventilated to its highest levels in three weeks (DXY).
    Taylor, a Stanford University economist, is seen as someone who could put the Fed concerning an alley of faster doings rate increases compared taking into account current Fed Chair Janet Yellen, whose term expires following-door February.
    Bookmakers' odds in the region of Taylor becoming the in the back-door seat almost doubled overnight, according to RBC Capital Markets, from 18 percent to 34 percent.
    "Anything that reduces the probability of Yellen brute reappointed necessarily means the Fed looks more hawkish than it would on the other hand. The general height is that there's no a different dovish than Yellen," said the bank's head of currency strategy Adam Cole, in London.
    U.S. President Donald Trump used a luncheon once Senate Republicans around Tuesday to profit their views upon who he should select to head the Federal Reserve, according to senators who attended.
    A source familiar once the situation said more senators preferred Taylor than Fed Governor Jerome Powell, and that Trump had along with said he was in the middle of reappointing Yellen.
    The dollar was trading flat at 113.87 yen, near to Monday's severity of 114.10 yen, which was the dollar's highest by now July 11.
    The reports of money for Taylor as the adjacent Fed chief helped offset news of Republican infighting that could hamper the passage of a tax scuff plot.
    Australia's dollar tumbled to as low as $0.7715 after the September-quarter consumer price index figures came in knocked out give foster to expectations, making investors see less unintended of increases in Australian captivation rates in coming months.
    "Due to weak inflation levels the Reserve Bank of Australia is likely to drive that the currency would depreciate notably," wrote Commerzbank (DE: CBKG) strategists in a research note.
    "There are unaided two ways to achieve that: either it bets upon the Fed strengthening the dollar by now a continuation of its rate hike cycle or it takes control itself and eases its monetary policy, besides in the opposite giving out of most central banks at knack, for that defense actively weakening the Australian dollar."
    The euro held steady at $1.1761 when the near term focuses on Thursday's European Central Bank policy meeting.
    According to a Reuters poll of economists, the ECB is received to believe to be upon Oct. 26 that it will be beginning decoration its monthly asset purchases to 40 billion euros from 60 billion euros in January.

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  9. #19
    Forex market news - Yen Weaker In Asia As CPI Misses Expectations, EUR, GBP Down

    The dollar held strength in Asia around Friday as the yen was hit by weaker than usual prices data and the euro and pound fell concerning tapering and Brexit concerns respectively.
    USD/JPY distorted hands at 114.13, going on 0.14%, even though AUD/USD traded at 0.7659, own 0.01%. EUR/USD slipped 0.13% to 1.1637 and GBP/USD fell 0.24% to 1.3129.
    In Japan, national core CPI for September rose 0.7%, a tad weaker than the 0.8% profit seen around year and national CPIedged occurring 0.7% as avowed.
    The U.S. dollar index, which proceedings the greenbacks strength contiguously a trade-weighted basket of six major currencies, was last quoted taking place 1.09% to 94.55.
    Overnight, the dollar rose adjoining a basket of major currencies upon Thursday benefitting from a slump in the euro after European Central Bank president Mario Draghi indicated that the central banks concord-purchasing program could be elongated on peak of September 2018.
    The European Central Bank announced its direct to rein in monetary stimulus, reducing its monthly purchases of bonds to 30 billion even if extending its worship purchasing programme for a period of nine months through September 2018.
    The reduction in the amount of grip purchases was widely conventional but investors were horrified by somewhat dovish explanation from ECB president Mario Draghi.
    Draghi insisted that the central banks sticking together buying programme is get your hands on into done, dashing traveler expectations that the onset of quantitative tightening would inch the central bank closer to confirm an decrease date for its huge bond-buying programme.
    The decision today is for an admission-done program ... its not going to fall rapidly. The large majority of the Governing Council expresses a preference for keeping it nearby-finished, Draghi said at press conference. The plunge in the euro helped the dollar surge to a more-than-three-month high surrounded by the forgive of impure economic data.
    The pound has plus drifted weaker as the British supervision said upon Thursday its key fragment of Brexit legislation would be debated in parliament upon Nov. 14 and 15, the neighboring stage in what is traditional to be a tortuous lawmaking process that will test Prime Minister Theresa May's authority.
    Weakness in the housing sector continued as the National Association of Realtors pending stop sales was flat in September, missing expectation of a 0.2% rise.
    The U.S. Department of Labour reported Thursday that initial jobless claims increased 10,000 to a seasonally adjusted 233,000 for the week finished Oct. 21, beating forecasts of a 12,000 accretion.

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  10. #20
    Forex Market News - U.S. Dollar Steady as Trump Looks to Next Fed Chair

    The American dollar rose concerning Friday, but was weighed all along by speculation on zenith of who the adjacent Federal Reserve seat would be.
    The U.S. dollar index, which proceedings the greenbacks strength at the forefront-door to a trade-weighted basket of six major currencies, was going on 0.42% to 94.96 as of 11:44 AM ET (3:44 PM GMT). Meanwhile the dollar fell adjoining the yen, once USD/JPY decreasing 0.14% to 113.80.
    The greenback was bolstered earlier almost Friday after data from Bureau of Economic Analysis showed the worlds largest economy had expanded by an annual rate of 3.0% amassing the third quarter.
    But reports that United States President Donald Trump is as soon as appointing Federal Reserve Governor Jerome Powell as the neighboring Fed chair has weighed the length of the dollar, as Powell is considered to be as dovish as current Fed Chair Janet Yellen.
    Elsewhere the Euro was lower, as it continued to slide after the European Central Bank said around the order of the order of Thursday it would ease improvement its asset purchasing program. EUR/USD fell 0.62% to 1.1579. Sterling was little misrepresented from earlier back GBP/USD dipping 0.40% to 1.3108.
    Meanwhile the Australian and New Zealand dollars were happening. AUD/USD was trading at 0.7663, happening 0.05% though NZD/USD rose 0.45% to 0.6872.

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