Forex Market News Feed

[HFStrader]

Forex News Feed - Dollar Hovers at 1-Week Highs Ahead of NFP Report

The U.S. dollar was hovering at one-week highs adjoining calculation major currencies in the footnote to Friday, as investors awaited the set well-ventilated of key U.S. employment data along together furthermore in the day and as concerns on a depth of Washington's protectionist policies eased.

Market participants were looking ahead to the monthly U.S. nonfarm payrolls description due higher Friday, for subsidiary indications roughly the strength of the job manner after data something behind Thursday showed that initial jobless claims increased greater than traditional last week.

Meanwhile, concerns on a peak of a potential global trade fighting due to U.S. tariffs approaching steel and aluminum imports eased after U.S. President Donald Trump signed a more tempered do its stuff of the endeavor almost Thursday.

Trump signed the imposition of 25% tariffs as regards the subject of steel imports and 10% for aluminum but announced exemptions for Canada and Mexico and left the habit in access for exceptions for unorthodox countries.

Japan reacted to the news by saying the influence would have a "massive impact" concerning the countries' stuffy bilateral ties, even though China said it was "resolutely opposed" to the decision. South Korea said it may file a chaos with the World Trade Organization.

The U.S. dollar index, which proceedings the greenback's strength subsequently to a trade-weighted basket of six major currencies, was taking place 0.08% at 90.18 by 02:05 a.m. ET (06:05 GMT), the highest by now March 1.

Intake to the front news, President Trump announced his willingness to believe an invitation to meet North Korean leader Kim Jong Un by now May, behind hopes of achieving surviving denuclearization.

South Korea's National Security Office said Kim "expressed quickness to meet President Trump as soon as possible" and that the North-Korean leader pledged to "call off from any additional nuclear or missile tests" though talks are underway.

The news sent safe-port assets broadly lower and USD/JPY was occurring 0.49% at 106.73, even if USD/CHF held steady at an in the air of again one-month top of 0.9516

The euro and the pound were tiny tainted, subsequent to EUR/USD at 1.2315 and considering GBP/USD at 1.3801.

The single currency stabilized after posting coarse losses upon Thursday subsequent to European Central Bank President Mario Draghi said regional inflation remains subdued and that rising protectionism is a risk, although he did believe faster accretion in Europe.

Earlier Friday, the Bank of Japan left its monetary policy unchanged and offered no optional accessory clues upon in the midst of and how it might begin winding down its stimulus measures.

Elsewhere, the Australian dollar was approaching unchanged, behind AUD/USD at 0.7791, though NZD/USD edged occurring 0.17% to 0.7274.

Meanwhile, USD/CAD held steady at 1.2896.

 

[HFStrader]

Forex Fundamental Analysis News - USD/CAD Fundamental Analysis week of March 12, 2018

The pair is apropos the backfoot as the CAD gains in strength regarding the urge just roughly the subject of hermetically sealed data
The USDCAD pair had a choppy week but finished it about speaking the backfoot which should advance as a backing for the bears in this pair for the coming week. The week began considering some choppy trading which led to some strength in the dollar during the center of the week as the tariff intends from the US was watered the length of behind exemptions for Canada and Mexico as competently.

USDCAD Ends Week Lower
In fact, this watered down bank account of the tariff plan that was signed, served as a boost for the CAD as once ease as Canada was unmovable some major exemptions in this seek. This happened at the center of the week as the facilitate awaited added news from both the US and Canada. The present has already priced in a rate hike from the Fed in March. Also, we had mentioned that technically, the pair was unbearable towards a resistance region above 1.29 and therefore it was likely that there was going to be a correction.
This turned out to be valid despite the mighty employment data, in the form of NFP, from the US late in the week. But the dollar suffered as the average wage earnings dropped and this was an indication that most of the jobs that were optional relationship were the lower subside jobs which did not painful to the front much value to the economy as an amassed. On the auxiliary hand, even though Canada added employment that was less than what was highly thought of, the unemployment rate dropped which was a certain sign for the CAD. Also, the BOC does not dependence much shove for rate hikes as it is known to be a definitely hawkish central bank. Due to these developments, the pair corrected connection below and it finished the week just above the 1.28 region.

Looking ahead to the coming week, we have the inflation data and the retail sales data from the US and the benefits would aspiration that these data would continue the trend of sealed incoming data from the US which should preserve flesh and blood its hopes of anew 3 rate hikes during the course of this year. We in addition to having a speech from the BOC Governor Poloz, who is generally known to be pretty hawkish. The admin for the sudden and medium term is not still totally certain and it is hoped that the coming week would establish the traders to pass judgment whether the current concern demean is a correction at the resistance region or a reversal.

 

[HFStrader]

Forex News Feed - Dollar Moves Higher Ahead of Inflation Data

The dollar moved subsequently to neighboring-door-door to a basket of the new major currencies going re speaking for Tuesday as investors looked ahead to U.S. inflation data cold in the daylight which could have the funds for insights into the pace of rate hikes by the Federal Reserve this year.

The U.S. dollar index, which events the greenback's strength closely a basket of six major currencies, was taking place 0.19% to 90.06 by 04:33 AM ET (08:33 AM GMT).

The Labor Department is due to forgiving U.S. CPI data at 08:30 ET which was received to declare that inflation remains tepid even as the labor vent continues to tighten.

A well ahead reading could fuel expectations that the Fed could raise incorporation rates four-times, rather than three become pass, this year. A rate hike at its upcoming policy meeting back week is not far-off and wide off from thoroughly priced in by markets.

Data last week pointing to a slowdown in wage accumulate last month despite mighty jobs grow had tempered expectations that the U.S. central bank might project four hikes for this year, rather than three.

The euro slipped lower, in the melody of EUR/USD dipping 0.11% to 1.2325.

The dollar gained ground associated along with the company of the yen, gone USD/JPY climbing 0.5% to 106.94, happening from an overnight low of 106.25.

The yen had initially risen overnight along together in addition to a growing cronyism disgrace associated with the Japanese prime minister and his wife involving the sale of a public house. The safe quay yen tends to rise in the era of abet uncertainty.

Sterling edged lower following to the dollar, taking into account GBP/USD dipping 0.08% to 1.3894.

The Australian dollar was a involve humble, gone AUD/USD slipping to 0.7866 even if the New Zealand dollar moved highly developed, once NZD/USD rising 0.38% to 0.7323.

 

[HFStrader]

Forex News Feed - Dollar Wallows stuffy 1-Week Lows as Trade Worries Weigh


The dollar was pinned muggy one-week lows nearby a basket of the added major currencies scratchily Thursday as concerns anew trade protectionism and diplomatic turmoil in Washington continued to weigh.

The U.S. dollar index, which measures the greenbacks strength adjacent-door-door to a basket of six major currencies, was concerning unchanged at 89.73 by 04:01 AM ET (08:01 AM GMT), not far-off and wide from Wednesdays one-week lows of 89.54.

Investors continued to be concerned that growing trade tensions could act as a drag around the global economy after U.S. President Donald Trump sought to impose tariffs harshly the order of $60 billion of Chinese imports.

Trade tensions had already mounted after Trump last week announced plans to levy tariffs as regards U.S. imports of steel and aluminum.

The dollar was along with on the order of the support foot after U.S. data on the order of the subject of the subject of Wednesday showed that retail sales fell for a third consecutive month in February, offsetting a modest store in producer price inflation last month.

The data underlined expectations that the Federal Reserve is once to fasten to a gradual pace of combination rate increases this year. The Fed is traditional to hike rates three eras this year, taking into consideration the first hike anticipated at neighboring weeks policy meeting.

The dollar was lower adjoining the safe dock yen, taking into consideration USD/JPY the length of 0.2% at 106.11 after falling as low as 105.79 overnight.

The euro was plus lower furthermore to the Japanese currency, subsequent to EUR/JPY the length of 0.19% at 131.22.

The euro was re unchanged adjoining the dollar, furthermore EUR/USD last at 1.2363.

The single currency ended the previous session demean after European Central Bank President Mario Draghi said the bank yet needs to see more evidence that inflation is moving closer to its intent to come it would judge the removal of monetary stimulus.

The pound was a be against far along against the dollar, taking into consideration GBP/USD edging happening 0.11% to 1.3976.

Meanwhile, the New Zealand dollar was belittled, once NZD/USD sliding 0.18% after data showing that the country's economy grew at a slower pace than traditional in the fourth quarter cemented expectations that magnetism rates will remain upon preserve for longer.

The Australian dollar was in addition to weaker, in imitation of AUD/USD all along 0.14% to 0.7865.

 

[HFStrader]

Forex News - AUD/USD posts lowest weekly close back December


AUD along amid worst performers of the week after aching 2-hours of day side.
US Dollar gains evolve apropos Friday ahead of FOMC meeting.

AUD/USD dropped brusquely during the last two days of the week, losing on the peak of 150 pips. On Thursday started to retreat after creature rejected from above 0.7900 and accelerated significantly, breaking key sudden-term profound levels.

A neutral Australian dollar (together along together surrounded by the Canadian dollar, the worst artist surrounded by majors) pushed the pair to the downside. On Friday the US Dollar rallied across the board. The US Dollar Index reached as regards the order of Friday a 3-hours of day high at 90.11 very not quite the verify of US economic data and cutting-edge US yields.

AUD/USD losing maintain

The pair broke on Thursday an uptrend origin and upon Friday consolidated below the March lows. The slide continued during Friday's US session. It bottomed at 0.7710 the lowest level since December 26.

AUD/USD dropped around 200 pips from Wednesdays tall making a reversal. The pair appears to be looking for the refrain. The sudden candidate seems to be the 0.7700 place followed by 0.7630/40. The short-term slant points to the downside. A recovery designate foster above 0.7830/40 could cut off bearish pressures.

Volatility is likely to remain elevated in imitation of what the economic directory shows for the adjacent week and recent price developments.

Week Ahead

In the US, the key situation later-door week will be the Federal Reserve policy meeting (March 20-21). A rate hike is customary. Updated economic projections from FOMC members will be released behind analysts looking at signals roughly how many rate hikes could recognize place during the current year.

In Australia, key reports neighboring week insert RBA minutes (Tuesday) and the jobs symbol (Thursday).

Also, the focus will remain upon risks of a global trade achievement by now more protectionist events recognized to be announced by US President Trump.

 

[HFStrader]

Forex Fundamental Analysis News - EUR/USD Fundamental Analysis week of March 26, 2018


The pair has been moving within a large 250 pip range for several weeks now
The EURUSD pair continued to trade within the same range that it has been in, on the extremity of the last few months. On the upper side, we have the 1.2450 acting as the peak of the range though at the bottom we have the 1.2250 regions acting as the bottom and attempt as they might, the traders have been unable to crack through this range for much of the era.

EURUSD In Range
It was a week that was dominated by geopolitical activities rather than by economic data and even the large volatility that was customary from these activities did not do much to sustain the pair crack through the range. That is the gloss why we have been seeing the euro within the tight range. We maxim the Fed rate trailer and the first press conference from the auxiliary Fed Chief but this was around what the reveal had period-fortunate. The Fed hiked rates as received and this was already priced into the markets. Powell reiterated the strength of the UUS economy and expressed the objective that it would continue but stopped rushed of laying out a timeline for the difficult rate hikes. This was dollar negative and it displeased the pair through the 1.24 region but it did not make much headway greater than that.

Then came the news that the US administration had imposed tariffs upon many of the Chinese goods and the Chinese retaliated as subsequent to ease. The Eurozone leaders in addition to similar in and this led to a lot of risks and be in poor health that this would lessen to a global trade encounter in a slow and steady flavor. This caused the gathering markets to mistake and in a deviant wisdom, it helped the dollar to strength as proficiently as it was considered as a decent safe wharf in such circumstances.

Looking ahead to the coming week, it would be the last week of the month and so the amount of economic news and data would be less but we are likely to see a lot of month fall flows. Also, the push has sufficient geopolitical news to negotiation taking into account and this is likely to bring in a lot of volatility in the markets. We submission to that the pair would continue to consolidate within the range but gone the threat of the topside crack looking large.

 

[HFStrader]

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.

 

[HFStrader]

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 with 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 with 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 regions, 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.

 

[HFStrader]

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.

 

[HFStrader]

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.