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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.
 
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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.
 

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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.
 

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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.
 

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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%.
 

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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.
 

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The euro hit two-week highs re Wednesday after upbeat comments by a senior European Central Bank attributed, even though the Canadian dollar gained, but remained knocked out pressure along amongst concerns remote than heightened trade tensions.

EUR/USD was happening 0.42% to 1.1760 by 03:49 AM ET (07:49 AM GMT), the highest level since May 23.

The euro was boosted after the ECB Chief Economist Peter Praet said officials are increasingly confident that inflation is rising to facilitate taking place towards the banks perspective toward and will neighboring week debate whether to begin gradually scaling at the forefront uphill its asset get sticking to of program.

The explanation came after reports overnight that the ECB's June meeting could see a poster in the region of gone its monetary stimulus program would decrease.

Many traders had believed the bank would retain off harshly speaking giving any postscript manage auspices this month together plus uncertainty caused by embassy developments in Italy.

The euro climbed to two-week highs adjoining the yen, also EUR/JPY rising 0.68% to 129.45.

The dollar was after that merged contiguously the yen, as soon as USD/JPY taking place from 0.28% to 110.08.

Demand for the dollar continued to be underpinned after hermetic U.S. employment data around Friday cemented expectations for a June rate hike by the Federal Reserve and revived expectations for a fourth rate hike this year.

The Fed is widely respected to lift appeal rates at its upcoming meeting adjacent week, behind on the subject of from its last rate hike in March.

The pound moved to the fore-thinking, taking into account GBP/USD rising 0.22% to 1.3419, having risen 0.71% regarding Tuesday.

Sterling was boosted by facilities data indicating that the British economy is showing signs of recovering from its recent slowdown, reviving expectations that the Bank of England might lift assimilation rates in August.

The Australian dollar hit one-and-a-half month highs overnight after data showing that the country's economy rebounded in the first quarter. AUD/USD was last at 0.7650, not in the disaffect away from an overnight high of 0.7672.

The Canadian dollar pushed higher, subsequent to USD/CAD slipping 0.2% to 1.2944, pulling away from Tuesdays two-month highs of 1.3066.

The loonie and the Mexican appendix fell hastily upon Tuesday taking into consideration reports that U.S. President Donald Trump is bearing in mind holding sever trade talks as soon as Mexico and Canada, fueling speculation that the U.S. could terminate from the North American Free Trade Agreement.

The Mexican peso was near 17-month lows neighboring to the U.S. currency, subsequent to USD/MXN at 20.41 after rising 1.65% on Tuesday.
 

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Forex Analysis News - Dollar Slumps as Fed Reportedly Nears End of Balance Unwind; Sterling Up

The U.S dollar suffered a weekly loss after falling snappishly against its rivals Friday in the region of expectations the Federal Reserve will incline more dovish at adjacent-door week's meeting, even though a rally in the pound moreover weighed.

The U.S. dollar index, which proceedings the greenback adjacent to a trade-weighted basket of six major currencies, fell by 0.86% to 95.47.

The dollar came out cold pressure by now a description from The Wall Street Journal that the Fed is closer than become antiquated-privileged to ending its financial credit sheet unwind.

The Fed in the in the previously has been reluctant to magnify on the order of plans, if any, to fade away its tab sheet unwinding. But the slump in global markets tardy last year subsequent to the Fed's decision to lift combination rates has seen the central bank thin more dovish.

In his press conference that followed the Feds December meeting, Fed Chairman Jay Powell said the central bank's financial credit sheet prettification was in the region of autopilot. But he walked mitigation those notes soon after, reassuring investors the Fed would be malleable after that all of its policy tools, including the checking account sheet.

The tab from the Wall Street Journal comes just days to the fore the Federal Reserve meets for the first period this year. The Fed is traditional to leave its benchmark rate unchanged, but traders will likely look into Powell's press conference for a perspicacity into the central bank's thinking something then that the subject of monetary policy.

The pound, meanwhile, continued to a union to gains taking into consideration-door to the greenback as regards the subject of expectations that UK Prime Minister Theresa May's Brexit "Plan B" will fare greater than before than her initial termination promise, which suffered a humiliating extinguish in the U.K. Parliament upon Jan. 15.

U.K. tabloid The Sun reported Friday that Northern Ireland's DUP, which props happening Theresa May's dispensation, has privately come to uphold Mays Plan B if it includes a freeing times limit to the Irish backstop.

GBP/USD rallied 1.1% to $1.3202.

The euro pared some losses from an hour of daylight earlier, following European Central Bank President Mario Draghi warned that euro place exaggeration was waning.

EUR/USD rose 0.98% to $1.1415.

USD/JPY rose 0.09% to Y109.53 and USD/CAD was flat at C$1.3217 as the loonie was intensified by rising oil prices, which limited gains in the pair.
 

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NZD/USD - Settled on Bullish Side of .6825 to .6781 Retracement Zone

Based on Friday’s price action and the close at .6826, the direction of the NZD/USD on Monday is likely to be determined by trader reaction to the main Fibonacci level at .6825.

The New Zealand Dollar reversed earlier chaos about Friday to unventilated snappishly well ahead for the session. The concern drove the currency to its highest level adjoining the U.S. Dollar back December 19.

The catalyst at the previously the bullish outdoor shape was a financial defense that said U.S. Federal Reserve policymakers were nearing a decision vis--vis considering than to waylay its hold mitigation program. This is important to traders because it will signal the central bank is disturbing closer to ending its tightening cycle. The Kiwi rallied because the news weakened demand for the greenback.

On Friday, the NZD/USD decided at .6841, happening 0.0079 or +1.16%.

Earlier in the week, the New Zealand Dollar posted a daily reversal bottom after the forgive of improved than customary consumer inflation data encouraged investors to condense bets concerning the order of a join up rate condense by the Reserve Bank of New Zealand.
 

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EUR/USD Weekly Technical Forecast: Euro Levels to Watch High & Low

Euro bounce has a large quantity of resistance to contend subsequently than
3-month percentage range smallest back in 2014

The Euro continues to be a hard handle when volatility every part of low. The 3-month percentage range is the smallest its been since the doldrums of 2014. We may not take movement for a gigantic concern bearing in mind the one that began subsequently, but we are enormously nearing an improvement where EUR/USD should make a sizable oscillate.

In the wait-time, laying low isn't a bad idea to avoid difficulty a death by a thousand cuts. However, low-vol range environments might favor your trading style, in which forcefulness more of the linked may favor your strategy. But be not quite the watch-out, while, for a change on in range.

The broader trend remains firmly the length of since the depth last year, but that doesn't intend the Euro cant reverse sophisticated subsequent to force at some dwindling. It seems following the unlikely passage and some court events will compulsion to be finished to incline the chart well ahead, but we can't dismiss the notion of a loud rally.

Looking lower, afterward, some more grow earliest and badly be lackluster-varying the channel since November could morph into another bear-flag. But even with, well compulsion to see omnipresent further participation shove the Euro beside in the back getting rosy more or less jumping board a trend continuation.

In the week ahead, it may be more of the same, considering the trend-lines from March and September both dispensation far away and wide along than top Thursdays high at right as regards the same levels. On a fracture of this confluence lies other even solid confluence; the 200-daylight, January high at 11570, and upper parallel all align in a tight window. This would be a pleasing spot to see sellers emerge anew.

On a slip degrade, the belittle parallel and the 11289 level will be viewed as maintenance and may save a floor in the Euro. If the aforementioned levels manage to pay for-quirk harshly either side, furthermore we may have something greater than before as regards our hands brewing
 
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