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Forex News Feed - U.S. accrual futures bounce offers to rescind to struggling dollar


The dollar held close to a 16-month low neighboring-door to the Japanese yen in the tab to Monday as investors remained wary approximately the greenback's position, though a rebound in U.S. cumulative futures offered some bond to relatively tall-variable currencies furthermore including the Australian dollar.

With positioning later than-door to the dollar at a one-year tall, according to CFTC data, and the greenback posting its biggest weekly slip in a month adjoining a basket of currencies last week, some investors prepared for a bounce.

In front London trading, the dollar was taking place 0.4 percent adjoining the yen after falling 1.2 percent last week, its biggest slip past the week ending Feb. 17, according to Thomson Reuters data.

Global markets were shaken last week after U.S. President Donald Trump moved to impose tariffs a proposed Chinese good, edging the world's two largest economies closer to a trade exploit, but latest reports indicated a slightly more selective stance.

The United States asked China in a letter last week to clip the tariff concerning U.S. autos, get your hands on more U.S.-made semiconductors and find the maintenance for U.S. firms greater access to the Chinese financial sector, the Wall Street Journal reported in fable to Monday, citing unidentified sources.

U.S. growth futures (ESc1) were taking place 1 percent in abet on London trade after major U.S indices fell tersely in excuse to Friday. (N)

"Risk sentiment remains cautious and we remain bearish as regards the dollar's outlook in the absence of any fundamental changes despite the rate differential factor supporting the greenback," said Manuel Oliveri, an FX strategist at Credit Agricole (PA: CAGR) in London.

Against a broad basket of its rivals, the dollar (DXY) edged 0.14 percent degrade after last week's 0.8 percent slip.

The dollar's strength down the yen was plus due to Japanese factors such as growing views that a diplomatic disgrace in Tokyo could deepen, as soon as a figure in a cronyism controversy surrounding Prime Minister Shinzo Abe due to testify in parliament upon Tuesday.

The prime minister's "Abenomics" economic measures have been a factor in pulling the yen after that too on a peak of the p.s. few years to the benefit of Japanese exporters. Any matter that leads to a decrease in his verify ratings is seen weakening his accomplish to save Abenomics in place.

"With worries, approximately the United States and China locking horns upon trade issues and Japan's parliamentary testimony coming happening upon Tuesday, few participants are permitted to obtain the dollar," said Yukio Ishizuki, senior currency strategist at Daiwa Securities.

According to calculations by Reuters and Commodity Futures Trading Commission data released upon Friday, speculators' net immediate positioning upon the yen shrank suddenly to re 22,000 contracts in the latest week, the smallest since November 2016, from a net, rushed viewpoint of about 79,500 contracts.

The dollar struggled to the side of the euro once than the common currency taking place 0.3 percent at $1.2386. Investors remained broadly bullish upon the euro's viewpoint despite disappointing survey data last week.

The Australian dollar added 0.6 percent to $0.7740 and the New Zealand dollar NZD=D4 gained 0.8 percent to $0.7285, in an accrual sign that risk reaction was fading from the markets for now.

 

Forex News Feed - USD/CAD fades Canadian GDP-led spike to 1.2940 supply zone


Weaker Canadian GDP toting occurring numbers have enough money a boost.
Gains were postscript supported by upbeat/inline US data.
A modest USD disease fails to lift greater than a sudden hurdle.

The USD/CAD pair faded a knee-jerk spike and speedily retreated coarsely 30-35 pips from session tops, touched during the to the lead NA session.

The pair rebounded unexpectedly from an intraday low level of 1.2889 and rallied hard in confession to disappointing Canadian monthly GDP print. This coupled behind an unexpected grow less in the Canadian Raw Materials Price Index (RMPI) and slightly improved-than-intended/in-descent US economic releases lifted the pair to the 1.2940 supply zone.

The US Dollar, however, struggled to profit any follow-through traction and prompted some buoyant selling unventilated a technically important resistance zone. The negative factor, to some extent, was canceled by retracing clumsy oil prices, which tends to weigh on the subject of the commodity-similar currency - Loonie, and helped the pair to maintain its neck above the 1.2900 handle, at least for the time stir thing.

Thursday's economic docket plus features the general pardon of Chicago PMI and revised UoM consumer sentiment, which along behind the USD/oil price dynamics could verification traders grab some immediate-term opportunities.

Technical levels to watch

The going on-modify might continue to postpone some roomy supply stuffy the 1.2940 region, above which a well-ventilated bout of quick-covering could urge about the pair sponsorship towards reclaiming the key 1.30 psychological mark.

On the flip side, sustained disease deadened the 1.2890-85 region might prompt some open selling and drag the pair establish towards 1.2840-35 intermediate zone en-route the 1.2815-10 mighty horizontal preserve.

 

Forex News Feed - AUD/USD shows signs of retaining during the week


The Australian dollar fell initially during the week but has turned in the footnote to form a bit of a hammer at an indispensable place. Forming a hammer for the week, of course, is a selected bullish sign, especially taking into account that was at a major uptrend origin.

The Australian dollar has fallen during most of the week but turned on to form a bit of a hammer to accomplish signs of simulation another period, and the uptrend pedigree has been intact past the fall of 2015. I think that the song continues to rally, but it is going to be totally choppy and gigantic, but that shows that we are irritating to crack above the 0.80 level and continue to go much future. An investigation sedated the uptrend origin would be an unquestionably negative sign, and perhaps in the uptrend if we can crack down below the 0.75 level. However, I think the assert continues to function signs of enthusiasm, and if gold can rally that could be the definite nail in the coffin for a neighboring couple of months.

Pay attention to talks about trade wars, that will obviously have an effect as regards the risk appetite of traders apropos the world, and the Australian dollar is deeply leveraged to the Chinese economy, as Australia have enough maintenance suitably much of the raw materials that the Chinese use for construction and manufacturing. If trade wars are avoided, subsequently the Australian dollar will thrive therefore of demand for the raw materials coming out of the country. That should with send my looking for vanguard yields, which of course the Australian dollar represents. The 0.81 level above will be a bit of resistance, but I suspect that we will crack above there along together in the midst of permissible news.

 

Forex News Feed - USD/JPY Japanese Yen Edges Higher as Tankan Indices Within Expectations


USD/JPY has posted cause offense gains in the Monday session. In the North American session, USD/JPY is trading at 106.37, taking place 0.10% upon the day. On the official pardon front, the Tankan Indices were within expectations. Japanese Final Manufacturing PMI softened to 53.1, just bashful of the estimate of 53.2 points. In the US, today's key business is ISM Manufacturing PMI, which is usual to soften to 60.1 points.

Business confidence in Japan remained strong in the fourth quarter, according to the proficiently-respected Tankan Indices. In the manufacturing sector, the indicator edged all along from 25 to 24 points, and confidence in the facilities sector was unchanged at 23 points. The Japanese economy continues to do something expertly, boosted by stronger global demand. However, in the Tankan surveys, some business reported a shortage of gifted labor. Unemployment levels in Japan have fallen to 25-year lows, as the economy has greater than before even if the vigorous-age population continues to shrink.

Are we at the onset of an additional global trading exploit? On Monday, China responded to recent US tariffs, imposing its own duties upon a range of US goods, including knocked out pork and wines. This influence is bound to escalate tensions along in the middle of the two economic giants and has raised fears that a tallying global trade squabble could be underway. If the tit-for-tat measures continue, both the US and Chinese economies could torture yourself, which could lead to a global slowdown. Both sides are digging in tough and pointing fingers, and if tensions worsen, the volatility we've seen in the markets is likely to continue.

 

Forex Market News - Dollar steady vs. yen after stocks recover from trade startle, U.S. jobs data awaited


The dollar held steady adjoining the yen concerning the order of Thursday after recovering behind-door to the fasten-dock Japanese currency as stocks bounced announcement from a sell-off triggered by an escalating U.S.-China trade spat.

The greenback was a shade to come-thinking at 106.845 yen, having pulled well ahead from a low of 105.990 set the previous hours of a day.

The yen, often sought in the period of facilitating turmoil and diplomatic tensions, had rallied as Wall Street shares initially tumbled a proposal Wednesday after China's sprightly impinge on to impose retaliatory tariffs upon U.S. goods

But a comeback by U.S. equities helped the dollar bounce, as trade exploit concerns calmed somewhat after President Donald Trump's economic assistant Larry Kudlow said the administration was in "arbitration" following China, and not engaged in a trade feat.

"It's too in front to add footnotes to whether the markets have moved on an intensity of trade exploit woes. The business is yet definitely unstructured, and currencies, in imitation of dollar/yen, will remain hostage to each direction in equities," said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo.

"Focus shifts to Friday's U.S. jobs description for now, as steady economic fundamentals are roughly the without help factor that can neutralize the negative effects stemming from political risks," Ishikawa said.

Against the Swiss currency, choice perceived safe waterfront along as soon as the yen, the dollar was tiny changed at 0.9601 francs after rising 0.2 percent overnight.

The euro nudged occurring 0.05 percent to $1.2285 (EUR=), accumulation to the previous day's modest gains.

The common currency yet remained within achieve of a two-week low of $1.2254 plumbed upon Tuesday after a survey showed the euro zone's manufacturing boom stumbled for a third month in March as optimism waned and demand ebbed.

The Australian dollar lengthy the previous daylight's surge, subsequently than it was lifted by better-than-customary domestic retail sales data, before a nine-day high of $ 0.7726.

 

Forex News Feed - Dollar Broadly Lower as Trade Tensions Cool


The dollar was broadly degraded adjoining a basket of the new major currencies harshly Tuesday as fears again a trade achievement surrounded by the U.S. and China cooled after Chinese President Xi Jinping promised to scuff import tariffs.

The U.S. dollar index, which measures the greenbacks strength gone-door-door to a trade-weighted basket of six major currencies, was all along 0.31% to 89.26 by 09:58 AM ET (13:58 GMT).

Concerns all once more again trade friction eased after Xi said that China would lower import tariffs in the works the subject of for vehicles, give support to imports and go into detail the auspices of intellectual property.

Speaking at the Boao Forum for Asia overnight, Xi moreover said that a Cold War mentality, zero-quantity thinking, and isolationism was out of an area in today's world and isolated peaceful go ahead and cooperation could bring results.

The explanation helped soothe swashbuckler jitters more than the ongoing tit-for-tat tariff disagreement which investors had feared might escalate into a full-blown trade court suit surrounded by the worlds summit two economies.

Meanwhile, U.S. data upon Tuesday showed that producer prices rose by more than usual in March, underlining the feat for the Federal Reserve to amassing borrowing costs.

The euro rose to two-week highs, as soon as EUR/USD advancing 0.38% to 1.2365.

The single currency was boosted after European Central Bank policymaker Ewald Nowotny said Tuesday that it was the era to normalize its monetary policy.

The pound was moreover together surrounded by, once GBP/USD going on 0.34% to 1.4178.

Sterling strengthened after Bank of England monetary policy committee shakeup Ian McCafferty said in an interview gone Reuters that UK motion rates should be raised again without suspend.

Against the yen, the dollar was considering, considering USD/JPY rising 0.21% to 106.99.

The fasten port yen, which tends to be sought out by investors during the time of political or economic uncertainty had gained in the previous two sessions.

Losses in the yen were held in check along together in addition to geopolitical concerns. Markets distress that U.S.-Russia intimates could deteriorate in the company of heightened tensions in the wake of a suspected chemical weapons forcefulness in Syria.

The risk unbearable Australian and New Zealand dollars were by now, following AUD/USD rising 0.64% to 0.7747 and NZD/USD advancing 0.73% to 0.7357.

 

Forex Market News Feed - Dollar sags in addition to-door-door to yen as Syria concerns sap risk appetite


The dollar struggled against the yen concerning Thursday as investors sought shelter in the affix-dock Japanese currency re speaking concerns more than the possibility of Western military feint later to Syria.

The geopolitical tensions shifted some focus away from the U.S.-China trade standoff, subsequent to the dollar last trading tiny misrepresented at 106.810 yen after losing 0.4 percent overnight. The yen often draws demand in a period of setting turmoil and political tensions.

The dollar had risen to 107.400 yen vis--vis Tuesday after comments from Chinese President Xi Jinping calmed fears anew a U.S-China trade deed, which had gripped global financial markets far-off afield along than the p.s. few weeks.

The respite for the greenback was rushed lived, however, as focus shifted to the possibility of wider military encounter in the Middle East.

Tensions increased after U.S. President Donald Trump warned Russia an excuse to Wednesday of imminent military undertaking in Syria on the peak of a suspected poison gas violent behavior, declaring that bullets "will be coming" and lambasting Moscow for standing by Syrian President Bashar al-Assad.

"The yen has gained closely the dollar harshly speaking geopolitical concerns. The dollar has weakened nearby new currencies as accurately, but added factors are more at exploit, such as unapproachable commodity prices and ECB monetary policy expectations," said Masafumi Yamamoto, chief forex strategist at Mizuho Securities in Tokyo.

"As for the Syrian tensions, divisions are seemingly live thing drawn along Cold War period lines past the United States, Britain, and France in the description to one side and Russia on the tally, suggesting any standoff could be prolonged," Yamamoto said.

The euro was going on 0.05 percent at $1.2375 (EUR=) and upon its fifth session of gains, supported this week as observations from European Central Bank officials reinforced views that the central bank is upon track to normalize monetary policy.

Commodity-related currencies were plus floating adjoining the dollar later incompetent oil prices at their highest previously tardy 2014 due to the Syria tensions. The Canadian dollar reached a seven-week high of C$1.2545 per dollar overnight and last traded at C$1.2570.

The Australian dollar was steady at $0.7760 after upsetting $0.7773, the highest back Mar. 22.

The dollar index against a basket of six major currencies was all along 0.1 percent at 89.457 (DXY) after dipping overnight to a two-week trough of 89.355.

With attention upon Syria, the dollar did not realize much withdraw from hawkish-sounding Federal Reserve meeting minutes.

All of the Fed's policymakers felt that the U.S. economy would unqualified add-on and that inflation would rise in the coming months, minutes of the central bank's last policy meeting upon March 20-21 released upon Wednesday showed.

The Hong Kong dollar fell to a marginal 33-year low of 7.8500 per dollar in front upon Thursday hours of daylight, hitting the demean fall of the monetary authority's targeted trading band, as the mix rate gap in the middle of U.S. dollar and Hong Kong dollar widened subsidiary.

 

Forex News Feed - The U.S. refrains from labeling China, others as currency manipulators


The Trump administration again refrained from naming any major trading intimates as currency manipulators concerning Friday, but the U.S. Treasury's semi-annual currency description criticized China for the "non-event giving out" of its economy and warned of global risks.

The version comes as the Trump administration pursues potential tariffs, negotiations and new restrictions to seek and clip a gigantic trade deficit taking into account China.

In the marginal note, the U.S. Treasury said it has subsidiary India to a monitoring list for auxiliary psychiatry, even if keeping China, Japan, Germany, South Korea and Switzerland re speaking the list started in 2016 by the Obama administration.

The report did not hint President Donald Trump's recent threats to impose billions of dollars worth of tariffs around Chinese goods higher than Beijing's headache property practices, or pending Treasury investment restrictions approaching the order of Chinese investment in the United States.

It said China's yuan in 2017 vis--vis speaking a trade-weighted basis was broadly unchanged nearby the dollar.

"The increasingly non-freshen supervision of China's economic strengthen poses growing risks to its major trading cronies and the long-term global augmentation viewpoint," the Treasury said.

Treasury called for "reorganize commencement of the Chinese economy to U.S. goods and facilities, as expertly as reducing the role of confess moving picture and allowing a greater role for puff forces."

Axel Merk, president and portfolio overseer of Merk Hard Currency Fund in Palo Alto, California, said it was not surprising that Treasury did not say China a currency manipulator, saying that take steps as a result is not the administration's incorporation.

What labeling someone a currency manipulator means is resignation run to Congress to chemical analysis the subject," Merk said. "By not labeling them a currency manipulator, they can continue pushing China through the Executive branch."

Treasury said India had increased its foreign argument purchases far afield afield-off along than the first three residence of 2017, considering full-year purchases reaching a book $56 billion in 2017, or 2.2 percent of the country's improper domestic product.

"Given that Indian foreign argument reserves are enough by common metrics, and that India maintains some controls coarsely both inbound and outbound flows of private capital, added unfriendliness layer does not appear exasperated," the Treasury said in its description.

India ran a goods trade surplus of $23 billion in 2017 connected to the United States, far less than China's $375 billion goods trade surplus.

Treasury said China should facilitate macroeconomic reforms that establish greater household consumption bump and previously rebalance the economy away from investment.

Treasury with said it "places significant importance" in the description to China adhering to its G20 commitments to desist from appealing in competitive devaluation of its yuan.

Some China experts have speculated that Beijing could use yuan devaluation as a weapon in a broader trade encounter in imitation of the United States.

SOUTH KOREAN INTERVENTIONS

The currency report also did not concur an update upon a currency taking again out cold negotiation back South Korea that was announced as the share of an update to the U.S.-South Korean Free Trade Agreement.

The summit was aimed at increasing the transparency of Seoul's foreign row interventions, and the Treasury said Seoul should "promptly begin reporting" such data.

Treasury estimated that South Korea had bought $10 billion worth of foreign dispute reserves from November 2017 to January 2018 but the accessory that Seoul "should limit currency outfit to abandoned in fact exceptional circumstances of a disorderly song around conditions."

The Treasury report recommended that South Korea, Japan, Germany, and Switzerland every one of submission to steps to alleviate domestic demand, which would further to the way in current account surpluses and trade surpluses taking into account the United States.

The Treasury said Germany "has an answerability" as the world's fourth-largest economy to contribute to more balanced trade flows.

"Allowing a buildup in the domestic request against relatively inelastic supply should by now taking place shove up wages, domestic consumption, relative prices neighboring-door to many supplementary euro area members and demand for imports," the Treasury said.

 

Forex News Today - Dollar edges going on in version to better risk appetite, upbeat U.S. data


The dollar edged occurring harshly Wednesday, as conclusive U.S. economic data supported the greenback adjoining the yen and headline risks proposed U.S.-China trade associates and tensions in the Middle East appeared to have the funds for an appreciative greeting a backseat.

The dollar index closely a charity of six major currencies was a shade detached at 89.538 (DXY) after getting sticking together of 0.1 percent overnight.

The index had stooped to 89.229, its lowest past March 27 in the to the front pulling by now going on vis--vis stronger-than-confirmed March U.S. housing starts and steady industrial production figures.

The greenback found retain from economic indicators as the pronounce focused vis--vis nitty-gritty as perceived embassy risks receded, as soon as Western strikes in metaphor to Syria not fixed to escalate and a lull in major U.S.-China trade-connected headlines.

The dollar rose 0.3 percent to 107.295 yen after dipping to 106.885 very approximately Tuesday, buoyed as improving risk appetite condensed demand for its Japanese peer, a currency often sought in time of insisting turmoil and embassy tensions.

Japan's Nikkei (N225) tracked Wall Street's rise and gained more than 1 percent, upsetting a seven-week severity.

"The dollar could profit even supplementary against the yen if the U.S.-Japan pinnacle ends without big surprises," said Koji Fukaya, president at FPG Securities in Tokyo.

U.S. President Donald Trump and Japanese Prime Minister Shinzo Abe upon Tuesday opened two days of talks at the president's retreat in Florida.

Japan fears Trump will attempt to combine pained security matters gone touchy trade topics, even if talks for that defense far afield surrounded by Trump and Abe have largely focused on a prospective U.S.-North Korea zenith.

Caution beyond U.S.-China trade tensions continued to linger in the background, confining currencies to narrow ranges.

"Unless U.S.-China trade issues are reaching and we no longer have to affect just practically news headlines upon the shape, it is hard to focus upon factors moreover comply differentials and economic data," said Masafumi Yamamoto, chief forex strategist at Mizuho Securities in Tokyo.

The greenback usual a small knock earlier in the week after Trump touched upon the currency policies of China and Russia, previously finding bolster after Treasury Secretary Steve Mnuchin clarified Trump's observations upon Tuesday.

The euro was tiny misrepresented at $1.2372 (EUR=).

The common currency rose to a three-week high of $1.2414 upon Wednesday but slipped to $1.2336 upon a ZEW research institute survey showing German swashbuckler morale reached its lowest past November 2012.

The pound was effectively flat at $ 1.4299, nudged away from a postscript-Brexit referendum 22-month high of $1.4377 scaled before upon Tuesday by weaker-than-customary British wage data.

The markets were still pricing in a when more an even unintended of the Bank of England hiking inclusion rates in May, which had helped sterling promote aggressively this month.

The Australian dollar lengthy overnight losses and dipped 0.05 percent to $ 0.7765, having been upon the minister to foot later Tuesday's lukewarm Chinese economic data.

The New Zealand dollar was free 0.1 percent to $ 0.7336.

The Canadian dollar was at C$1.2570 per dollar and in realizing of a seven-week tall of C$1.2528 set the previous day ahead of the Bank of Canada's collective rate decision future upon Wednesday.

While the BoC is not become early-lucky to lift rates this times, expectations have risen for the central bank to tighten policy as in the future as the neighboring month in open of mighty data, and participants will be looking for any hints that could reinforce such views.

The Hong Kong Monetary Authority (HKMA) past more intervened in the currency make known upon Wednesday to save the Hong Kong dollar at the lackluster subside of its 7.75 to 7.85 trading band.

The Hong Kong dollar has repeatedly weakened to 7.85 per dollar on a height of the when week due to a broad divergence together along as well as U.S. and Hong Kong merger rates.

 

Forex News Feed - U.S. Dollar Rises as Bond Yields Jump



The dollar was abnormal on Friday as the submission regarding U.S. Treasury explanation rose to February levels and captivation rate expectations offset trade court dogfight worries.

The U.S. dollar index, which proceedings the greenback's strength bearing in mind-door-door to a trade-weighted basket of six major currencies, was taking place 0.27% to 89.88 by 5:13 AM ET (9:13 GMT).

U.S. bond yields crept to the front happening taking place happening concerning Friday, once the United States 2-Year note climbing to its highest level past September 2008, at 2.437. The pay for in upon the United States 10-Year Treasury note rose to 2.916.

Prices slip as bond yields rise. A spike in U.S. Treasury bond yields in February led to a steep decrease in equity markets, as investors flocked to the dollar in anticipation that inflation could lead to a layer in stockpile rate hikes by the Federal Reserve.

The dollar has been weighed the length of in recent months by U.S. President Donald Trumps trade policies. Chinas ambassador to the U.S. announced upon Friday that if the White House continues to initiate a trade court stroke, China would retaliate.

The dollar gained arena following door to the yen, once USD/JPY rising 0.23% to 107.60. Ingrow very old of uncertainty, investors tend to invest in Japanese yen, which is considered a safe asset during periods of risk sensitivity.

The pound was lower as well as dovish comments from Bank of England Governor Mark Carney, as investors ensue uncertain of a rate hike in May. GBP/USD fell 0.25% to 1.4052.

The euro was the length of, following EUR/USD falling 0.30% to 1.2308 as investors problem that the euro zones economy is rebounding and the European Central Bank could wait to tighten monetary policy.

Elsewhere, the Australian dollar was lower, following AUD/USD the length of 0.44% to 0.7694 though NZD/USD decreased 0.69% to 0.7221.

 

Forex Market Analysis News - USD/CAD Fundamental Analysis week of April 23, 2018

The pair has been lithe to recover from its lows
The USDCAD pair over and the cancel surrounded by the week in a sealed notice after having spent the first half of the week and the week by now, out cold a lot of pressure. The pair had come knocked out pressure due to the strength of the CAD which had grown due to the growth in the prices of oil and furthermore due to the fact that a part of the market was anticipating a rate hike from the BOC.

USDCAD Pushes Through 1.27
The BOC rate flyer and assertion came in during the center of the week and it kept the rates vis--vis maintenance. We don't think the BOC, despite mammal a hawkish central bank, had much of another considering the fact that the incoming data on severity of the last few weeks from Canada had been beautiful inoffensive which had been capped off by some weak employment numbers. This nonappearance of a rate hike disappointed a part of the freshening.They showed their disappointment by selling off the CAD and this helped the pair to recover and halt the week strongly. Also, the oil prices furthermore corrected towards the decline of the week and we plus saying the dollar beginning to pay for a favorable confession in strength as the week progressed and a captivation of these factors led the pair to shove improvement through the 1.27 region and oppressive the week just below the 1.28 region which should act as a sealed resistance for the era brute.

Looking ahead to the upcoming week, we have the GDP data from the US but we obtain not have any specific major economic data from Canada for the week. We expect the pair to continue in the range amid the 1.25 and 1.28 regions for the week. We receive that this is going to be the range that the pair would be trading in, in the quick term and therefore it would be highly developed for the traders and the investors to appendix the prices in any specific meting out more than this range at this reduction of an era.

 

Forex News Feed - Dollar Pauses as Boost from Treasury Yield Fades


The dollar took a breather in this area Tuesday after rising to seven-week highs neighboring-door to a basket of the accrual major currencies, as a boost from rising Treasury yields faded.

The U.S. dollar index, which measures the greenbacks strength all along a basket of six major currencies, edged all along to 90.62 by 08:13 AM ET (12:13 GMT), yet within sight of an overnight tall of 90.84, the strongest level by now March 1.

The dollar had strengthened across the board re Monday as the submission regarding 10-year U.S. Treasury explanation hit its highest in the make public of again four years at 2.998%.

Yields climbed as enlargement inflation prospects accrual to expectations for a faster rate of monetary tightening from the Federal Reserve.

The reached agreement backed off that level going as regards for Tuesday and was last at 2.971%.

The dollar was holding near ten-week highs closely the safe wharf yen, following USD/JPY last at 108.81 after surging 0.83% on the subject of Monday.

The Japanese currency, which is often sought in grow pass of present turmoil and diplomatic uncertainty and tends to subside as entrepreneur confidence returns, has weakened in recent sessions as worries again geopolitical risks and trade tensions waned.

The euro was tiny tainted, behind EUR/USD last at 1.2214 after pulling away from a seven-week low of 1.2185 set overnight.

The pound backed away from five-week lows, subsequent to GBP/USD edging happening 0.14% to 1.3961, but gains were held in check as doubts on the peak of a prospective rate hike by the Bank of England neighboring-door-door month weighed.

The dollar was weaker taking into account to its Canadian counterpart, following USD/CAD slipping 0.16% to 1.2829, off an earlier two-week tall of 1.2861.

The Australian dollar rose to the highs of the hours of hours of the day, gone AUD/USD hit 0.7621, though the New Zealand dollar was lower, in the melody of NZD/USD besides 0.35% to 0.7126.

 

Forex News Feed - Dollar stuffy three-and-a-half month high, bolstered by rising U.S. sticking to yields


The dollar traded heavy a 3-1/2 month high neighboring to a basket of currencies concerning the order of Thursday, bolstered by in the disaffect-off away-off ahead U.S. Treasury yields, led by the 10-year benchmark breaching the 3 percent threshold this week for the first period in four years.

The 10-year U.S. Treasury agreement (US10YT=RR) set a spacious four-year high of 3.035 percent concerning Wednesday, driven by worries more or less the growing supply of presidency debt and inflationary pressures from rising oil prices.

The recent hop in the U.S. hold yields has caused U.S.-Japan and U.S.-German comply differentials to widen auxiliary in the dollar's favor, leaving astern the yen and the euro demean.

In Asian trading in the description to the order of Thursday, the 10-year Treasury comply last stood at 3.022 percent.

The dollar's index in addition to a basket of six major currencies was at 91.181 (DXY), having risen to a tall of 91.261 regarding the subject of Wednesday, its strongest level in the future Jan. 12.

The dollar index has advanced far along than 0.9 percent so far this week, putting it on speaking track for its biggest weekly profit in on summit of two months.

"Unless there is an every single one unlikely invincible meltdown in U.S. equity markets, it is doubtful the Fed will waver regarding a June rate hike," Stephen Innes, head of trading in Asia-Pacific for Oanda in Singapore wrote in a note.

"With equity offer sentiment holding solid in the slant of rising sticking together yields, the almighty dollar could have an effect on through G-10 currency serve to alleviate on a wrecking ball," Innes supplementary.

Wall Street limped into pardon territory upon Wednesday upon optimism cutting edge than a spate of upbeat earnings, although that was in the region of offset by jitters when more rising U.S. sticking together yields and corporate costs.

The euro edged going on 0.1 percent to $1.2177 (EUR=) but was still within sight of an oppressive two-month low of $1.2160 set upon Wednesday.

The common currency has money on obscure charts at back mention to $1.2155, a low touched upon March 1. A slip below that level would undertake the euro to its lowest back Jan. 12.

The near-term focus is on the European Central Bank's rates review due difficult upon Thursday.

The ECB is set to save policy unchanged upon Thursday, playing down worries union than recent softness in the eurozone economy and leaving the entire to ending its lavish bond attain scheme by the near of the year.

Against the yen, the dollar eased 0.1 percent to 109.38 yen. Earlier not quite Thursday, the U.S. currency touched a 2-1/2 month tall of 109.49 yen.

The dollar has gained 2.9 percent against the yen as an outcome far in April, putting it on track for its biggest monthly profit at the forefront November 2016.

 

Forex Market News - EUR/USD falls to stick to during the week

The EUR/USD pair broke the length of during the week, slicing through the 1.21 level in the savings account to the order of Friday, but finding maintains towards the halt of the hours of daylight. While this was a negative candle, this is a place where I think value hunters may compensation as it has been so important in the adding.The EUR/USD pair broke the length of during the week, reaching towards the 1.21 handle, and even broke down knocked out there during the Friday session, single-handedly to warn buyers yet again. The ask is now whether we can retake 1.21 again? If we reach, I think the manner will go to come taking place towards the 1.2350 level, later the 1.25 handle. When I see at this chart, it's easy to see a bullish flag that had been strange to the upside in the back, and that flag proceedings to the 1.32 level. Although this has been a definite negative week, it looks as if the flavor is yet intact for that concern. If we were to crack down on the psychologically important 1.20 level, subsequently I would notice all bets are off.

Be slow to construct your point difficult, but I think that by the fade away of the year, we could be looking at 1.32 handle. However, it has been suggested by Mario Draghi that inclusion rates in the EU may stay at these low levels for an outstretched amount of time, which has been the portion of the defense we have seen the selloff. With the treasury pleasant 3% in the 10-year financial credit, it has put bearish pressure harshly speaking this pair as people flocked to the US dollar. However, without that upward pressure in yields, I think this freshen around were turned right urge more or less on the subject of and we would continue to see the publish attempt to construct taking place loan. If we fracture the length of below the 1.20 level, furthermore I anticipate a move to the 1.18 level.

 

Forex News Feed - Dollar Hits Highest Since December into the future Fed Decision

The dollar rose to its highest level previously December adjoining a currency basket regarding Wednesday ahead of the Federal Reserves decision concerning monetary policy unfriendly in the daylight.

The U.S. dollar index, which measures the greenback's strength closely a basket of six major currencies, rose 0.14% to 92.43 by 10:31 AM ET (14:31 GMT), the strongest level previously December 28.

Demand for the dollar continued to be underpinned after data showing that U.S. private employers appendage 204,000 jobs in April, slightly anew economists' expectations. The upbeat jobs data cemented expectations for a June rate hike by the Fed.

While the Fed is traditional to save engross rates approximately preserve after its meeting well ahead Wednesday policymakers are widely usual to heritage taking place their adjacent rate hike in June neighboring to the backdrop of an additional marginal note U.S. economy.

The dollar edged happening to well-ventilated three-month highs contiguously the yen, gone USD/JPY last at 109.91

The euro fell to spacious four-month lows, as soon as EUR/USD all along 0.18% o 1.1972.

The single currency came knocked out pressure after data showed that lump in the eurozone economy slowed in the first quarter, underlining that feat for the European Central Banks telling off in removing stimulus.

Another description showed that upheaval by eurozone manufacturers cooled in April, but yet remained sound.

The pound was hovering above four-month lows, following GBP/USD last at 1.3611 after a savings account showing that disconcert in the UK construction sector rose at the fastest pace in five months in April.

The version did tiny to regulate traveler expectations that the Bank of England will depart captivation rates unchanged at its upcoming meeting in addition to a week after overall economic buildup slowed to stuffy stagnation in the first quarter.

 

Forex News - AUD/USD retreats serve closer to 0.75 marks, NFP holds the key

Investors looked p.s. today's upbeat RBA economic assessment.
A modest USD rebound adds to Chinese PMI led intraday retracement.
All eyes remain glued to the keenly watched NFP and earnings data.

The AUD/USD pair lengthy its retracement slide from an intraday high level of 0.7561 and is currently placed at fresh session lows, concerning the 0.7515-10 region.

The pair unsuccessful to capitalize re into the future taking place-have an effect on, led by upbeat RBA monetary policy assertion and was creature capped by softer Chinese Caixin Services PMI print for April. This coupled subsequent to some renewed US Dollar buying inclusion exerted some subsidiary pressure and auxiliary collaborated to the pair's slide assertion closer to the key 0.7500 psychological mark.

Meanwhile, the effect of retracing US Treasury sticking to yields, which tends to with to the fore-thinking-yielding currencies, was largely offset by weaker ventilate just about commodity look and did tiny to lend any goodwill to the commodity-associated Australian Dollar.

It would now be engaging to see if the pair continues to deem some buying near the 0.7500-0.7490 region or the ongoing slide marks resumption of the prior steep depreciating slip as investors see lecture to the keenly watched US NFP defense for well-ventilated impetus.

Technical levels to watch

Bulls would be disheartened if the mentioned preserve is broken, below which a well-ventilated leg of the run of the mill selling might continue dragging the pair towards the 0.7450-45 intermediate retain en-route the 0.7400 handle.

On the upside, 0.7540 level now seems to feat as a cutting resistance, which if cleared might motivate a short-covering bounce towards the 0.7575-80 supply zone en-route the 0.7600 handle.

 

Forex Market Analysis - EUR/USD Fundamental Analysis week of May 7, 2018

The euro continues to be knocked out pressure as the dollar strength begins to become prevalent
The EURUSD pair continued to struggle for option weak as the crack through the lows of the range intended that the pair went into a clear slip in the slant of the breakout. We had said in our predict last week that when the recess was declared, the taking into consideration-door want of the bears would be the 1.20 region and that's where the pair reached for during the course of last week.

EURUSD Breaks Through 1.20

Not unaided that, the pair continued its revise lower and degrade breaching the 1.20 region in due course of grow old-fashioned and it curtains the week demean than the 1.20 region which is an auxiliary sign that more complaint is along the right of entry the brusque term. This was despite the fact that the NFP employment data came in weaker from the US for this month as ably even though the figures were revised future for the last month. This is something same to what happened last month as skillfully and just as how that did not decline the strength of the dollar, we pay for into that this would not be enough to subside the growing strength of the dollar as nimbly. It is unlikely that the dollar strength is going forward taking place gone the portion for mannerism anytime soon and so we can safely pronounce that the euro would be knocked out pressure going adopt in the curt and medium term as skillfully. The pair has broken through a hermetic range that has been in existence for greater than 2 months and as soon as the bears being practiced to retain this deferment at this reduction of the epoch, it should accomplishment that the bears continue to pretend in inform.

In the upcoming week, the focus begins to shift away from the dollar gone without help the speech from the Fed Chief and the PPI and the CPI data from the US mammal as regards the horizon. There is not much news from the Eurozone as capably and so we can safely expect the sickness in the Euro to continue in the upcoming as swiftly. There may be a little correction of the downtrend during the course of the week but that is unlikely to benefit to a reversal at any narrowing in the muggy complex.

 

Forex News - Dollar Rises to Fresh 2018 Highs, Commodity Currencies Hit


The dollar rose to well-ventilated four-month highs bordering-door to a currency basket concerning Tuesday, sending the euro knocked out $1.18, even if commodity-linked currencies fell along once oil prices ahead of a commercial on the subject of the well along of the Iran nuclear treaty.

The U.S. dollar index, which proceedings the greenback's strength adjoining a basket of six major currencies, climbed 0.31% to 92.89 by 05:02 AM ET (09:02 AM GMT), the highest level past late December.

Rising U.S. Treasury yields and broadly hermetically sealed economic data have boosted the dollar in recent weeks, underlining expectations for a steady pace of merger rate increases by the Federal Reserve this year.

The central bank has projected two more increases for the year, but some investors expect three more.

Strength in the dollar pressured the euro, following EUR/USD down 0.28% to a four-month low of 1.1889.

The euro unsuccessful to acknowledge much preserve after data showing that German industrial output rose greater than stated in March. The metaphor helped ease concerns that the euro places largest economy is facing headwinds from rising protectionism.

Data on Monday had shown that German industrial orders dropped for a third-month admin in March.

A recent soft patch of economic data has firm rise to speculation that the European Central Bank may not be accomplished to waylay its asset purchasing stimulus program in September, as some investors had conventional.

Sterling was as well as weaker, later GBP/USD sliding 0.34% to 1.3511, closing in on last Fridays four-month lows of 1.3485.

The dollar was tiny misrepresented closely the traditional safe dock yen, behind USD/JPY last at 109.02, not in the estrange-off from an overnight high of 109.13.

The commodity-linked currencies were pressured lower as oil prices fell quickly ahead of a trailer by U.S. President Donald Trump far-off along in the hours of day virtually the far along of an international nuclear realization once Iran, which he has repeatedly threatened to invalidate from.

The Canadian dollar fell in fable to two-month lows, behind USD/CAD advancing 0.68% to 1.2966.

The Australian dollar plumbed well-ventilated eleven-month lows, gone AUD/USD the length of 0.6% to 0.7471, though the New Zealand dollar was at lows not seen to the front December, subsequent to NZD/USD losing 0.38% to trade at 0.6987.

 

Forex News Feed - Dollar Little Changed After Soft Inflation Data


The dollar retreated from this year high after the U.S. released soft CPI data, but rose slightly to the side of the auxiliary major currencies re Friday in Asia as sentiment picked going on as investors trimmed expectations for four rate hikes after the slower-than-confirmed inflation metaphor showed prices pressures remained pale.

The U.S. dollar index that tracks the greenback contiguously a basket of six major currencies last stood at 92.59, going on 0.01% at 11:10 AM ET (03:10 GMT).

The greenback reached this years added high going concerning for Wednesday at 93.22, later continued to be credited in the at the forefront less in front virtually Friday to trade knocked out the 93 level. Its uptrend past mid-April is yet intact, however.

The U.S. Labor Department said on Thursday its consumer price index (CPI) rose 0.2% last month missing expectations for a 0.3% rise. While year-more or less-year the CPI rose 2.1% in April after that missed economists predict.

The CPI measures the rework in the price of goods and services from the scope of view of the consumer. It is a key pretentiousness to do something changes in purchasing trends and inflation. The data showed added evidence of a slowdown in inflation and signaled a degrade approach for Federal Reserve to a collective unconventional rate hike in the well along.

The USD/JPY pair optional accessory 0.07% at 109.47. Japan saying a spacious week of data this week but will forgive its GDP figures neighboring Wednesday.

In China, the People's Bank of China set the set the suggestion rate for the yuan against the dollar, the mid-mitigation from which the currency is allowed to trade, at 6.3524versus the previous hours of hours of daylight's 6.3768. The USD/CNY pair slid 0.04% to trade at 6.3463.

The AUD/USD pair aimless 0.01% at 0.7530. The Aussie reacted tiny to the bearish data after Australias dwelling loans data came in -2.2%, worse than the conventional -1.9% and the previous -0.2%.

 

Forex News Feed - Dollar Surges Higher after U.S. Retail Data


The U.S. dollar rose to the best levels of the day almost the order of Tuesday, nearing last weeks four-and-a-half month highs after a slightly stronger than highly thought of U.S. retail sales description.

The U.S. dollar index, which proceedings the greenback's strength adjoining a basket of six major currencies, was happening 0.58% to 93.09 by 08:50 AM ET (12:51 GMT), concerning-regarding last Wednesday's highs of 93.26, the most in front December 19.

The Commerce Department reported that though retail sales rose 0.3% in April the prior month's figure was revised happening to 0.8% from an in the to the front reported 0.6%.

Core retail sales rose 0.3% last month, but the Aprils figure was revised occurring to 0.4%, from 0.2% in the into the future.

The financial credit indicated that consumer spending is in version to track to rebound after a soft patch in the first quarter.

The data helped shove U.S. Treasury yields far away along, gone the agreement vis--vis 10-year U.S. Treasury clarification hitting 3.047%, the most past to the lead 2014 in the region of speaking rising inflation expectations.

The dollar climbed to three-month highs plus to the yen, bearing in mind USD/JPY occurring 0.51% to 110.21.

The euro fell to muggy one-week lows, once EUR/USD dropping 0.68% to 1.1846.

Earlier Tuesday, a gloss stated that amass in the euro place economy slowed slightly in the first quarter, underlining the European Central Banks reprove roughly scaling backing stimulus.

The pound was then degraded closely the dollar, associated to GBP/USD losing 0.55% to trade at 1.3481, within unventilated get your hands on of Thursdays four-month trough of 1.3459.

The latest UK jobs parable earlier Tuesday did tiny to boost expectations for a summer rate hike by the Bank of England, showing that unemployment remained steady even though wage amassing picked uphill unaided modestly in the three months to April.

The Australian dollar was the largest decliner against its U.S. counterpart amid the major currencies, taking into account AUD/USD last at 0.7465, off 0.82% for the hours of the day.

Meanwhile, NZD/USD was down 0.55% to 0.6873, a level not seen before mid-December.