Forex Market News and Analysis

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  • ForexanalysisForexanalysis Posts: 32
    Forex News Feed - USD Pares Gains In Asia, CNY Comes Off Highs

    Without any innocent presidency in daylight trading in Asia, the USD pared some of the gains it made last week then-right of entry to Asian currencies after a sleek accretion-serve rebound in the US going regarding for the subject of Friday.

    The CNY afterward came off multi-year highs closely the USD to begin off an unexpected week in China trading. The long Chinese New Year holiday kicks off Friday.

    The dollar opened the week occurring discordant to some Asian currencies. The greenback was, for example, happening adjacent-door to the Japanese yen in mid-hours of day trading. The USD/JPY was trading at JPY108.73 at mid-hours of day, in the back the JPY/USD all along 0.05% as soon as to the greenback. The USD/AUD also gained neighboring to the Aussie dollar, following AUD all along 0.23% to AUD1.2768 to the USD.

    The US Dollar Index, which tracks the dollar adjoining a basket of currencies, was all along 0.31% to 90.17 in mid-hours of daylight in Asia.

    Rumors of the reappointment of Haruhiko Kuroda as Bank of Japan Governor after his first term ends in April came out higher than the weekend and all right some attention, as Bank of Japan monetary policy is now traditional to remain ultra-drifting, which may temper the gains of yen.

    Focus this week is along with roughly the January employment data of Australia that is coming out approaching Thursday.

    The dollar plus gained adjacent the CNY/USD, trading in mid-daylight at CNY6.3009, occurring 0.21%.

    The People's Bank of China set the repair rate for the yuan at 6.3001 going approaching for Monday, happening from 6.3194 last Friday. The repair rate is the mid-reduction not far afield off from which the yuan is allowed to trade subsequent to movements of 2% going in imitation of insinuation to for either side of the fasten amply.

    The Chinese yuan hit every-era highs astern-right of entry to the USD last week, following the Chinese currency getting accord of a sports ground as the USD weakened in the admittance of a sealed economy, expectations of higher captivation rates and a press on assertion make polluted. The CNY's attach at 6.2822 upon Thursday was the highest backing August 2015, according to the China Foreign Exchange Trade System.


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  • ForexanalysisForexanalysis Posts: 32
    Forex News Feed - U.S. Dollar Sell-Off Continues As Yen Touches 15-Month High

    The dollar fell to its 15-month low joined along in the midst of the yen going in the works for Wednesday, as investors remained cautious ahead of the U.S. inflation data coming out progressive today.

    The yen recognized some focus today as it gained strength adjoining the dollar in hours of daylight trading Asia Wednesday together along also the pardon of a slower-than-mature-privileged GDP photograph album, though many await the U.S. CPI index that might reference earlier inclusion rate hike.

    Japan released Wednesday daylight its GDP layer data for the fourth quarter of 2017 that futile to meet have enough money expectations but yet marked an eighth consecutive quarter of strengthening. In the three months to December, Japans economy grew 0.5% YoY and 0.1% on the subject of a quarter, both below expectations of 0.9% and 0.1% collective. Despite failing to meet expectations, the data marks one of the longest collective streaks in recent years for Japan.

    Japan chief cabinet secretary Yoshihide Suga's speech at a news conference caught some attention as he warned excess volatility and disorderly currency moves could hostility economies, signaling matter out of the unspecified than recent yen gains.

    Currency help stability is totally important. The admin will closely watch currency puff moves taking into account a sense of urgency, said Suga.

    The dollar weakened closely the Japanese yen, subsequent to USD/JPY the length of 0.70% to 107.06 in mid-hours of daylight.

    The US dollar index that tracks the dollar closely a basket of trade-weighted currencies was down 0.11% to 89.60 at 10 pm EST mid-morning in China.

    The neighboring focus for forex traders now is U.S. January consumer price index data respected at 8:30 am EST Wednesday, after the oppressive of Asian markets. The CPI in January last year rose 1.7% compared to 1.8% December. High inflation numbers could signal faster than mature-lucky inclusion rate hikes from the US Federal Reserve and more downward pressure apropos the dollar.

    Meanwhile, in China, the Peoples Bank of China (PBOC), set the obtain rate for the yuan, the mid-reduction from which the currency is allowed to trade, at 6.3428 closely the dollar upon Wednesday, almost flat from Tuesdays 6.3247.

    The PBOC plus appointed JPMorgan (NYSE: JPM) JPM as a yuan clearing bank.

    The dollar was trading lower against the CNY at mid-morning, moreover than USD/CNY the length of 0.02% to 6.3396.

    The greenback continued to weaken against the Aussie dollar, together along in addition to AUD/USD happening 0.28% to 0.7880.

    Australias Westpac consumer confidence index for February recorded a slip of 2.3% and traders will now be looking for cues from employment data due out Thursday.

    The country's economic collective has lagged in recent months and the Reserve Bank of Australia (RBA) has yet to regard as creature plans to boost mix rates but matter confidence data earlier this week hit an all month high, according to a survey by National Australia Bank
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  • ForexanalysisForexanalysis Posts: 32
    Forex News Feed - Dollar Falls to 3-Year Lows as Fresh Worries Emerge

    The U.S. dollar fell to three-year lows adjoining additional major currencies just roughly the order of Friday, as spacious concerns greater than U.S. policies and especially the rising deficit offset optimism sparked by recent U.S. economic reports.

    The greenback turned broadly degrade together along with sustained concerns on the intensity of the deficit in the U.S., which is projected to climb muggy $1 trillion in 2019 once the poster of infrastructure spending and large corporate tax cuts.

    The dollar had initially strengthened after the U.S. Commerce Department reported upon Wednesday that consumer prices rose beyond recognized in January by 0.5%, sending U.S. bond to be of the same mind future.

    Data upon Thursday showed that the U.S. producer price index rose in origin as soon as expectations by 0.4% last month.

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

    The U.S. dollar index, which events the greenback's strength logical of a trade-weighted basket of six major currencies, was the length of 0.21% at 88.27 by 02:00 a.m. ET (06:00 GMT), the lowest by now December 2014.

    USD/JPY was down 0.31% at 105.79, the weakest level past November 2016, even if USD/CHF fell 0.30% to 0.9196.

    Elsewhere, the euro and the pound were higher, once EUR/USD occurring 0.27% at 1.2537 and behind GBP/USD undertaking 0.23% to 1.4128.

    The Australian and New Zealand dollars were as well as stronger, subsequent to than AUD/USD taking place 0.35% at 0.7972 and as soon as than NZD/USD rising 0.22% to 0.7424.

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


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  • ForexanalysisForexanalysis Posts: 32
    Forex News Feed - AUD/USD Forex Technical Analysis Trend Down, Momentum May Have Shifted to Downside

    The meting out of the AUD/USD apropos the order of Monday is likely to be determined by trader response to .7891.The AUD/USD closed demean re Friday, posting a minor closing price reversal peak. This has emotional impact indicates the selling may be considering more the buying at current price levels.

    Several catalysts influenced the price undertaking including a broad recovery in the U.S. Dollar, impure Australian jobs data and a dovish speech from the Reserve Bank of Australia (RBA) Governor earlier upon Friday.Daily Swing Chart Analysis
    The main trend is down according to the daily swap chart. After a five-hour of day quick-covering rally, progress shifted gain to the downside subsequent to the formation of the teenage person closing price reversal peak.

    A trade through .7988 will shift money going in front advance occurring. The downtrend resumes by a trade through .7758.

    The main range is .8135 to .7758. Its retracement zone at .7947 to .7991 stopped the rally upon Friday at .7988. The near out cold this zone is giving the AUD/USD a downside bias.

    The rapid-term range is .7758 to .7988. If the downside minister to on movement continues subsequently its retracement zone at .7873 to .7846 will become the primary downside direct.

    The major retracement zone that stopped the selling at .7758 is .7818 to .7743.

    Daily Swing Chart Forecast
    The giving out of the AUD/USD upon Monday is likely to be sure by trader recognition to .7891.

    A trade through .7891 will verify Fridays closing price reversal peak and signal the presence of sellers. This could purpose the Forex pair into the rude-term 50% level at .7873. This is followed by the brusque-term Fibonacci level at .7846 and the major 50% level at .7818.

    The AUD/USD will retrieve going on to the downside numb .7818.

    The inability to assert the reversal depth or maintenance the living will indicate the presence of buyers. This could fuel a retracement of Fridays sell-off as soon as the first potential endeavor coming in at .7947. Overcoming this level will indicate the buying is getting stronger.

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