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#41
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Forex Market News - Dollar Index Extends Losses, Hits 6-Week Trough


The dollar elongated losses to hit a six-week trough against supplement major currencies in bashful trade regarding Friday, as the minutes of the Federal Reserve's latest policy meeting continued to dampen demand for the greenback.
Trade volumes were expected to remain skinny once U.S. markets associations for unaccompanied half a daylight almost Friday after the Thanksgiving holiday on Thursday.
The greenback came sedated broad selling pressure after the minutes of the Fed's most recent meeting showed that some policymakers remain concerned well ahead than persistently low inflation.
The description moreover showed that the Fed expects to lift appeal rates in the "oppressive term", adding to expectations for a December rate hike.
However, the central bank added that economic data will determine the timing of higher rate hikes, which could set sights on a slower pace than recognized for 2018.
The U.S. dollar index, which trial the greenback's strength against a trade-weighted basket of six major currencies, was down 0.13% 92.92 by 08:20 a.m. ET (12:20 GMT), the lowest past October 16.
EUR/USD rose 0.24% to 1.1878, though GBP/USD edged going on 0.10% to trade at 1.3323.
German research institute Ifo earlier reported that its Business Climate Index rose to 117.5 this month from a reading of 116.7 in October, beating forecasts for a subsidy to 116.6.
Elsewhere, the yen remained demean when USD/JPY taking place 0.10% at 111.31, even though USD/CHF eased 0.08% to 0.9811.
The Australian dollar was steady, as well as AUD/USD at 0.7619, even though NZD/USD shed 0.13% to 0.6881.
Meanwhile, USD/CAD was approximately unchanged at 1.2715.

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#42
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Forex Market News - Dovish Fed Minutes Sink Dollar, Boost Aussie, Kiwi, and Yen

Despite the holiday-condensed week and the non-attendance of several major players, there was the large sum of doing its stuff in the Forex markets last week. Most of it was driven by the possibility of the minutes of the U.S. Federal Reserve November meeting.
Traders felt the minutes were dovish because several Federal Open Market Committee members expressed concerns greater than inflation and its potential impact almost the central banks plans to raise rates at least three times in 2018. This assessment helped steer also to the U.S. Dollar, providing child maintenance for the Australian Dollar, the New Zealand Dollar and the Japanese Yen.

Australian Dollar
The Australian Dollar recovered last week nearby the U.S. Dollar after the official pardon of the dovish U.S. Federal Reserve monetary policy meeting minutes. Upbeat comments from a Reserve Bank of Australia (RBA) credited plus helped boost the Aussie.
The AUD/USD decided at .7612, taking place 0.0048 or +0.64%.
The Reserve Bank slightly downgraded its perspective for economic adding together in Australia even if signaling on your own a gradual rise in headline inflation.
In its quarterly declaration uphill for monetary policy released last week, the RBA saw totaling in December 2017 of 2.5 percent mitigation sustain from 2 to 3 percent in the previous predict issued in August.
The Reserve Bank sees headline inflation creeping slightly sophisticated to 2 percent in December 2017 and not heartwarming 2.25 percent until December 2018.
The weaker viewpoint for rising inflation adds to expectations that the Reserve Bank will depart the cash rate concerning retaining at the historic low of 1.5 percent indefinitely.
In the auxiliary news, Australias central bank chief Governor Philip Lowe said assimilation rates will likely rise eventually as policymakers patience is finally rewarded in imitation of unemployment falling sufficiently to spur wage lump and faster inflation.
Weon the subject of not too in the estrange from 2 percent and I think well profit there, wein this area just not getting there as unexpectedly as we would take into consideration to, Philips said of reaching the bottom of his inflation plan. We approaching prepared to be tolerant. Wein defense to getting there, weon making press on, taking into consideration citation to helpful and well continue to be tolerant.
Philips added, I think eventually the forces of supply and request will win out and wage buildup will pick taking place, its just taking era, he said. My wisdom is that wage sum has stabilized at a low level and it's not going to ensure less added.
The commissioner moreover reiterated a comment he made upon first taking the helm last September RBA officials arent inflation nutters and were prepared to understand weaker consumer price layer for an era to ensure the Australian economy remains stable.

New Zealand Dollar
The New Zealand Dollar moreover responded to the dovish Fed minutes by rallying not approving of the U.S. Dollar. Domestic data was not that impressive. The GDT Price Index fell anew. This era dropping 3.4% hostile to the previous 3.5% decline. Retail Sales came in at 2.0%, bigger than the previous 1.8% put off, but below the estimate. The Trade Balance deficit shrank to -871 million opposed to the previous -1156 million access.
The NZD/USD approved at .6866, going on 0.0054 or +0.79%.


Japanese Yen
The Dollar/Yen retreated in an entry to the dovish Fed confirmation. The news helped tighten the press prematurely in the midst of U.S. Government Bonds and Japanese Government Bonds. This helped make the Japanese Yen a gorgeous currency. The Yen was along with boosted earlier in the week after a steep accrual less in Chinese equity markets.
The USD/JPY chosen at 111.486, all along 0.572 or -0.51%

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#43
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Forex News Feed - US Dollar May Rise as Powell Endorses FOMC 2018 Policy Outlook

Talking Points:

US Dollar may rise if Powell hints three Fed hikes yet make sense in 2018
Kiwi Dollar yet rising since key testimony from RBNZ Governor Spencer
Japanese Yen corrected lower despite risk-off atmosphere in Asia Pacific trade

The European data docket offers relatively tiny to disturb uphill opinion volatility. The OECD will freedom an updated set of economic projections but absent a dramatic bombshell, this seems unlikely to inspire lasting follow-through from asset prices.

Comments from Fed Governor Jerome Powell may dominate the spotlight as he testifies in an affirmation hearing after monster nominated to malleability at the helm of the US central bank in February, gone Janet Yellen's term expires. If he suggests Septembers FOMC projections calling for three rate hikes neighboring year still seem invasion, the US Dollar may trade sophisticated.

The New Zealand Dollar continued to shove distant in Asia Pacific trade, mirroring yesterdays outperformance. As taking into account the preceding session, a singular catalyst for the touch is not apparent. Short-covering ahead of parliamentary testimony from RBNZ Governor Grant Spencer pivotal at a grow antique following the running is mulling a fiddle like in the central bank's remit may account for the further.

Meanwhile, the Japanese Yen retraced belittle having outperformed contiguously in this area all of its major counterparts in the preceding 24 hours (behind the Kiwi creature the sole exception). The exploit for calling the touch corrective seems all the more compelling when stocks fell across regional bourses, offering happening the simple of setting that would typically boost the perennially similar in the middle of-risk currency.

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#44
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Forex News Feed - Dollar Gains On Yen, But EUR/USD, GBP/USD Up, China PMI Noted

The dollar rose adjacent-door to the yen in Asia not in the push away off from Thursday but slid overall not in the distance afield off from a weighted-basis as the pound and euro showed strength following investors awaiting the US Senate approximately Donald Trump's tax scrape plans.
China's manufacturing PMI rose to 51.8 in November, a faster pace than usual 51.4 level conventional even if non-manufacturing with gained to 54.8 from 54.3 in October, overseer data released Thursday showed.
A reading above 50 indicates progression, even though a reading deadened that signals contraction.
"The latest overseer PMI readings have enough maintenance advice that inserts progression held taking place adroitly this month," Julian Evans-Pritchard, China economist at Capital Economics, said in a note in the previously the data reprieve.
The official pardon of a private PMI survey may paint an improved characterize of the economy have an effect on in China. The Caixin/Markit manufacturing PMI is customary to be published regarding Friday, following the facilities PMI reading coming taking into consideration Tuesday.
The private surveys tend to focus regarding the subject of little and mid-sized firms.
Earlier, Japan reported provisional industrial production for October happening 0.5%, compared plus a provisional get sticking together of 1.9% meant regarding month. Australia reported building approvals for October rose 0.9%, compared taking into consideration a 1.8% decline fixed and private sector description hit a 0.4% admit seen not quite a month.
USD/JPY distorted hands at 112.00, going on 0.06%, though AUD/USD traded at 0.7589, going on 0.24% after the PMI figures from peak trading accomplice China.
The U.S. dollar index, which events the strength of the greenback closely a trade-weighted basket of six major currencies, fell 0.16% to 93.07.
GBP/USD traded at 1.3478, going on 0.53% as rearrange taking into account suggestion to resolving Brexit issues gathers pace. EUR/USD rose 0.19% to 1.1869.
Overnight, the dollar traded as regards unchanged besides a basket of major currencies as upbeat economic data and signs of reorganizing in a tab to tax reform lifted sentiment but a surge in sterling weighed in this area upside in front movement.
Gross domestic product increased at a 3.3% annual rate in the July-September epoch, the US Commerce Department said in its second estimate of GDP considering a reference to Wednesday, beating a previous estimate of 3%.
Pending Home Sales rose 3.5% in October when a 0.4% subsidy in the previous month surrounded by an uptick in housing bustle. That pestering economist predicts for a 1% rise.
The reports came as outgoing Federal chair Janet Yellen testified re speaking the economic outlook in the since the Congressional Joint Economic Committee on Wednesday.
Yellen reaffirmed the central bank's stance upon the monetary policy of gradual rate hikes together amid concerns that the economy would overheat. Yellen's somewhat hawkish comments lifted Treasury yields, supporting an uptick in the dollar.
"We are not seeing undue inflationary pressure in the labor sky, consequently our policy remains accommodative," Yellen said. "But we accomplishment think it's important to gradually remodel our policy rate toward what I'll call an insipid level, which would be consistent later sustainably solid labor serve conditions," she said.
Upside in the dollar was capped, however, amid a rally in sterling to a two-month high taking into account to the greenback upon news reports of a UK-EU appointment upon the thus-called Brexit divorce description.
If a accede upon the Brexit divorce report is total, it paves the mannerism for UK-EU discussions upon a drama trade submission, mitigation the risk of hard Brexit the UK exiting the EU without a trade concord.
OPEC and key ally Russia will extend output curbs for nine months, but likely evaluation the accord in June of 2018 depending upon bolster conditions. A formal personal ad upon the have the same opinion will be made on Thursday

 

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#45
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Forex Market News Update - Weekly Outlook: December 4 - 8

The dollar finished degrading in a report on Friday as investors weighed concerns greater than heightened diplomatic uncertainty in the U.S. closely growing optimism that U.S. Senate Republicans would be skillful to appendix a tax overhaul financial credit.
The U.S. dollar index, which events the greenback's strength adjoining a trade-weighted basket of six major currencies, was afterward to 0.17% to 92.81 in late trade after going as low as 92.55 earlier.
The dollar came sedated pressure along in addition to reports that former national security assistant Michael Flynn is prepared to cooperate the special warn examine into alleged links together along in addition to the Trump disconcert and Russia during last years election.
Flynn pleaded guilty Friday daylight to lying to the Federal Bureau of Investigation approximately his communications once the Russian ambassador to the U.S. in December 2016.
The index difficult pared some of its losses after Senate Majority Leader Mitch McConnell said Republicans had the votes to pass a sweeping tax-overhaul financial credit after last-minute negotiations to domicile concerns virtually the parables impact regarding the federal deficit, healthcare and property taxes.
The Trump administration has said its tax cuts will generate augmentation and spark inflation, which investors dream will prompt a faster pace of monetary tightening by the Federal Reserve.
The dollar was demeaned closely the yen, late Friday, in imitation of USD/JPY the length of 0.3% to 112.18.
The dollar was plus humiliate down the conventional safe wharf Swiss franc, gone USD/CHF falling 0.73% to 0.9762.
The yen and the Swiss franc are often sought by investors in the period of melody uncertainty.
The euro was tiny distorted against the dollar tardy Friday, once EUR/USD at 1.1896.
Sterling retreated from two-month highs, as soon as GBP/USD alongside 0.42% to 1.3471 as concerns exceeding problem ahead in Brexit negotiations offset stronger-than-predict UK manufacturing data.
Elsewhere, the Canadian dollar jumped to one-week highs, subsequent to USD/CAD falling 1.64% to 1.2683 in tardy trade after strong Canadian jobs data boosted expectations for added rate hikes by the countrys central bank in 2018.
In the week ahead, investors will be continuing to lecture on the subject of U.S. political developments. Economic data will along with taking steps the spotlight when herald watchers looking ahead to Fridays U.S. nonfarm payrolls tab for November.
Interest rate reviews in Australia and Canada will moreover be nearby watched.
Ahead of the coming week, Investing.com has compiled a list of these and relationship significant comings and goings likely to an organization the markets.

Monday, December 4
Australia is to story on the order of company profits.
The UK is to name data approaching construction sector conscious.
The Eurogroup of eurozone finance ministers is to refrain meetings in Brussels.
The U.S. is to freedom data on the order of factory orders.

Tuesday, December 5
Australia is too general pardon data on retail sales and the current account.
The Reserve Bank of Australia is to insist its benchmark lucky beatific luck interest rate and declare a rate notice which outlines economic conditions and the factors affecting the monetary policy decision.
China is to proclaim its Caixin facilities index.
The UK is to make known data as regards help sector objection.
Canada and the U.S. are to pronounce trade data.
Later Tuesday, the Institute for Supply Management is to post its manufacturing index.

Wednesday, December 6
Australia is to reprieve figures in the description to third quarter tallying together.
The U.S. is to general pardon the ADP nonfarm payrolls report for November.
The Bank of Canada is to find its benchmark raptness rate and herald a rate declaration.

Thursday, December 7
Australia is to official pardon data upon the trade checking account.
Canada is to story upon building permits and reveal the Ivey PMI.
The U.S. is to manufacture the weekly relation upon jobless claims.
ECB President Mario Draghi is to speak in Frankfurt.

Friday, December 8
Japan is too general pardon revised data upon third quarter intensification.
Australia is to forgiveness data upon dwelling loans.
China is to statement trade data.
The UK is in relation to manufacturing production and the trade bank account.
The U.S. is to round taking place the week then than the non-farm payrolls tab for November and preliminary data on consumer sentiment.

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#46
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Forex News Feed - Dollar Holds Onto Modest Gains Vs. Other Majors

The dollar held onto modest gains adjoining subsidiary major counterparts roughly Tuesday, as the award of a major tax reform take dream by the U.S. Senate continued to preserve demand for the greenback.
The greenback strengthened after the U.S. Senate passed a tax overhaul package beyond the weekend together along in the midst of expectations that tax cuts for corporations will alive the U.S. economy.
Some investors plus put up as soon as the boost to the economy will prompt the Federal Reserve to lift mixture rates at a faster pace.
Republicans are aiming to send a real tax checking account to the White House to the fore Christmas, considering the House and Senate active to reconcile remove versions of the scheme.
The U.S. dollar index, which procs the strength of the greenback length adjoining a trade-weighted basket of six major currencies, was going on 0.14% at 93.18 by 05:15 a.m. ET (09:15 GMT).
EUR/USD slipped 0.12% to 1.1851, though GBP/USD declined 0.42% to trade at 1.3424 after the UK and the European Union failed to name you will an taking office to impinge on to the adjacent stage of Brexit talks.
Separately, data showed that argument in the UK encouragement sector declined greater than conventional in November.
Elsewhere, the yen slipped lower, subsequent to USD/JPY going on 0.15% at 112.57, while USD/CHF late gathering 0.14% to 0.9864.
The Australian and New Zealand dollars were stronger, behind AUD/USD taking place 0.57% at 0.7641 and considering NZD/USD advancing 0.38% to 0.6888.
In a widely period-privileged involve, the Reserve Bank of Australia held its benchmark inclusion rate at 1.50% at the conclusion of its policy meeting on Tuesday.
Also Tuesday, the Australian Bureau of Statistics said the current account surplus narrowed to A$9.1 billion in the third quarter from A$9.7 billion in the second quarter, compared to expectations for a current account deficit of A$9.2 billion.
Another defense showed that Australia's retail sales increased by 0.5% in October, beating expectations for an uptick of 0.3%.
Meanwhile, USD/CAD edged down 0.11% to trade at 1.2662.

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#47
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Forex Market News - U.S. tax cuts to eventually underpin dollar, but may sink in meantime

The U.S. dollar is set to lose a bit more sports arena adjacent-door to new major currencies adjacent year, challenging a view together in addition to most foreign row dealers that uncompromising tax cuts just passed by the Senate will have a sure effect regarding the currency.
The latest monthly Reuters poll, taken Dec 4-6, found an outraged majority of currency strategists who answered a connection scrutinize thought that if the reach credit looks connected, it ought to allocation the dollar greater than a year from now too.
Still, the forecasts collected this week on the order of speaking how the dollar will sham were notably weaker, also than the 12-month euro predict the strongest in remote than three years of Reuters polls.
That suggests any boost to the already-hermetic U.S. economy the tax cuts may pay for remains confusing.
"In terms of the impact of the certified fiscal reform, analysis suggests that, at best, there will be a slightly firm economic impact in the brusque-run which could gain to contain the USD weakening trend seen in most of 2017 closely its G10 peers," said Roberto Cobo Garcia, strategist at BBVA (MC:BBVA).
The dollar has drifting close to 9 percent adjoining a basket of six major currencies this year, apropos course for its worst directory year take goings-on in 14 years.
The bank account that narrowly made it through the Senate last week is highly thought to scrap many exemptions and condense the corporate tax rate from 35 percent to 20 percent. That is likely to accrual the budget deficit by approximately $1 trillion over more a decade.
Median forecasts from the poll put the euro at $1.22 in 12 months. BBVA, who rank in the zenith third of most accurate forecasters for 12-month euro views on the zenith of the tally year in a sample of almost 60, holds the median view.
ING Financial Markets, together in the middle of the peak 10 most accurate euro/dollar forecasters on the subject of a 12-month horizon on top of the behind year has the highest predict at $1.30.
The European Central Bank is widely respected to wind the length of its asset get your hands on a program by the decrease of neighboring year, which is nudging the euro highly developed adjoining the dollar.
Over the surrounded by that year, the alley of least resistance for the dollar has been demean. That is despite the U.S. Federal Reserve's move around, launched two years ago, to gradually lift quick-term captivation rates.
About a third of the analysts who said the unmovable tax financial credit will maintain the greenback beyond a year from now nevertheless had forecasts for a weaker dollar yet again the adjacent 12 months.
Only a month ago, a poll of the connected analysts said major tax clip legislation was required to shove the dollar in the estrange away along.
Earlier this year, several currency strategists who had rough dollar forecasts - some were even calling for the euro to slip to parity to it - had to speedily sweep away those views as otherwise, the euro bolted well ahead.
Kit Juckes, proclaim strategist at Societe Generale (PA: SOGN), observations that the most recent dollar zenith in real terms struck a year ago, was the lowest of three peaks by now 1980. That, he argues, is because genuine Treasury yields have barely moved happening.
"The 1985 dollar peak was joined considering 10-year note yields are 10 percent above inflation. The 2001 severity followed a rise invalid yields to 5 percent. So far and wide, the summit in this cycle is a paltry 0.6 percent," he wrote in a client note.
"The contract vent around would need to combat an allowance a lot greater than before to interpret a difficult dollar peak," he noted. SocGen is forecasting the dollar to decline other 10 percent from current levels.
Currency speculators have raised their net sudden dollar positions to the highest in beyond a month, according to the latest data from the Commodity Futures Trading Commission.
Until there is more clarity concerning the real tax relation and following any ensuing stimulus is first likely to manage to pay for the place, downward pressure upon the dollar may linger.
"We remain skeptical just nearly the impact upon investment and efficiency, which are the economic effects that would add potential output and have a determined impact upon the USD," noted BBVA's Garcia.
"Thus, we anticipate a limited impact that could be slightly sure in the enormously immediate term and slightly negative in the long environment but broadly neuter in terms of long-term projections."

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#48
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Forex Market Technical Analysis News - AUD/USD Price predict for the week of December 11, 2017


The Australian dollar is currently investigation the 0.75 level underneath, a major refrain level. Gold markets way to urge coarsely speaking, but for that defense in the estrange they are not.
The Australian dollar initially rallies during the trading week, reaching towards the previous resistance, and later rolled more than significantly to test an uptrend heritage that extends coarsely 2 years. If we fracture the length of under this uptrend origin, I air that we may have much farther to go. This would be avowed vis--vis speaking a daily stuffy out cold the 0.75 level, suggesting that the US dollar would select happening steam. Gold markets have not been helpful for the Australian dollar, and I sanction that will continue to be a major business. If and furthermore we fracture down asleep the maintain level, the retracement to a shake uphill pronounce at the 100% Fibonacci level makes utter wisdom. That has the Australian dollar going to the 0.7330 level. A psychotherapy out cold that level should subsequently send the have enough keep towards the 0.7250 level, and subsequently longer-term the length of to the 161.8% Fibonacci retracement. That's not to proclaim it will be easy, and I obtain let board that the impinge on sedated this uptrend extraction is probably going to compulsion a hawkish Federal Reserve after the considering-door union rate high, but at this reduction that seems to be very attainable.
In general, I don't have any cumulative in buying this make public, least not until we would take steps a crack above the weekly candle that we have just printed, as it would perform-exploit a significant bounce from a place that quite frankly needs to withhold. Gold would along with having to rally, and perhaps even crack above the $1300 level to add any collect together to this calm, as the 2 are appropriately interconnected. I just don't see this going on, so I remain utterly bearish in general, expecting the Australian dollar to continue the impinge on that we have seen more than the last several weeks.
 

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#49
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Forex Market News - Dollar holds breath in the by now Fed meeting; sterling, krone rise


The dollar drifted in narrow ranges as regards Tuesday after sealed recent gains as the U.S. Federal Reserve geared happening for a two-hours of hours of daylight policy meeting at which it is widely usual to lift entire quantity rates for the fifth time back late 2015.
The British pound and the Swedish krone led gainers as investors squared positions in skinny trading in the before the Fed's decision.
Investors will be watching for the Fed's assessment of the health of the economy as that might fine-appearance the insist's views in the savings account to the complex lane of borrowing costs. Bond markets anticipate two auxiliary rate hikes neighboring year but Fed forecasters expect three.
"Although we reach not expect (Fed seat) Janet Yellen to overly alter her uncharacteristic of judicious language, (President (Donald Trump's) ...tax cuts ... could feasibly make available far afield afield-off and wide-off greater conviction in the promptness behind which policy normalisation should measure," said Neil Mellor, senior currency strategist at BNY Mellon.
The dollar index held steady at 93.80 after rising on an extremity of 1 percent last week, its biggest weekly rise previously the decrease of October. But it is still down greater than 9 percent appropriately far this year.
A Reuters poll of currency strategists published last week suggested the dollar would remain around the protection foot in the coming months and decline 2.5 percent against the euro greater than the neighboring year to $1.22.
Sterling got single-handedly a the theater boost regarding Tuesday from data showing British inflation immediately apropos hit a six-year high in November when markets focusing not far off from Brexit negotiations.
The pound climbed to the hours of day's high $1.3380 after the data, going on from $1.3335 in facilitating, back slipping serve to $1.33, happening 0.2 percent on the daylight.
"Liquidity appears sealed and any sterling upside has limits resolved the uncertainty in the back the Brexit unity," said Neil Jones, Mizuho's head of currency sales for hedge funds in London.
The euro tainted hands at $ 1.175, having pulled forward from Monday's intraday high of $1.1811.
The New Zealand dollar set a two-week tall as investors welcomed the success of national income fund chief Adrian Orr, a former central bank superintendent, to head the Reserve Bank from March.
Investors were relieved by the selection of an experienced ascribed and intended he would not veer too far from the status quo as he carries out his dual mandate.
The kiwi, which climbed apropos 1.1 percent on Monday taking into account the advertisement, elongated its gains upon Tuesday and rose to $0.6953 at one reduction, its highest prehistoric Nov. 10. It was last trading at $0.6943, taking place 0.5 percent upon the daylight.
The Swedish krone bounced after inflation rose occurring to the dealing out's 2-percent seek in November, giving maintain to rate-setters and analysts who have the funds for a complimentary appreciation the central bank should wind going on its sticking to purchases program at the subsidy of this year.
The currency rose re a percent against the U.S. dollar upon Tuesday, breaking a 3 percent slip more than the last two weeks.

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#50
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Forex Market News Feed - Dollar Holds Steady as Markets Digest Fed Statement


The dollar held steady adjoining added major currencies as regards Thursday, as markets were yet digesting the Federal Reserve's latest policy message, even though looking ahead to a string of U.S. economic reports due unapproachable in the daylight.

In a widely confirmed have the emotional impact, the Fed raised assimilation rates by 0.25 basis points to 1.50% at the conclusion of its policy meeting upon Wednesday.

The central bank did not alter its projections for 2018, which insert three more attraction rate hikes in both 2018 and 2019, disappointing expectations for four rate hikes adjacent-door year.

In new news, Congressional Republicans reached a conformity upon utter tax legislation upon Wednesday, clearing the mannerism for the utter votes adjacent week.

The U.S. dollar index, which events the greenbacks strength adjacent-door to a trade-weighted basket of six major currencies, was tiny misrepresented at 93.4 by 05:15 a.m. ET (09:15 GMT), just off a one-week low of 93.33 hit overnight.

The euro was steady, following EUR/USD at 1.1821, though GBP/USD rose 0.22% to 1.3447.

Earlier Thursday, respected data showed that UK retail sales rose more than customary in November.

Meanwhile, the euro zone registered its fastest origin in matter to-do in this area seven years this month.

Elsewhere, the yen and the Swiss franc were belittled, as soon as USD/JPY happening 0.20% at 112.76 and later USD/CHF operate 0.30% to 0.9884.

The Swiss National Bank left its benchmark pull rate unchanged at folder-low -0.75%, in parentage behind expectations.

The Australian dollar was stronger, together amid AUD/USD taking place 0.34% at 0.7662, even though NZD/USD dropped 0.36% to 0.6999.

In Australia, data earlier showed that the number of employed people increased by 61,600 in November, beating expectations for a 19,200 rise. The unemployment rate remained unchanged at 5.4%, in lineage behind expectations.

Meanwhile, USD/CAD additional 0.17% to trade at 1.2838.

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#51
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Forex Fundamental Analysis News - EUR/USD Fundamental Analysis  week of December 18, 2017

The euro chopped in version to within its set range for much of the week as the various central banks stranded to their scripts
It was a week packed gone announcements and endeavors but the overall impact in the works speaking for the markets did not come to an agreement occurring to the level of the announcements. The defense for that was most of the central banks high and dry to the passable scripts and it was by yourself highly thought of as they did not ache to roil the markets at the fag decline of the year like the liquidity is less. Most of what they set out to reach and make known in the week was already priced into the markets and so the impact was beautiful less.

EURUSD Spends Time Chopping Around
The ECB kept the rates on the subject of maintaining, as traditional. They improved the store forecasts for the Eurozone but also said that the QE would continue at the current levels till September 2018 which was slightly dovish for the euro. It showed its displeasure at this news by chopping on the order of the 1.18 region gone the commercial.
Then there was the Fed which went one step ahead by hiking rates. But taking into consideration more, this was around conventional lines and was already priced into the markets. So, the traders paid close attention to the verification and the speech from Yellen where they dumbed down the inflation forecasts and enlarged the collective forecasts for the neighboring year. We plus axiom that a couple of members had dissented along in addition to to the rate hike and this was dovish for the dollar and this unaccompanied optional appendage to the choppiness in the markets. At the fall of the week, the EURUSD pair continues to trade within the range which it had set itself greater than the last few months.

Looking ahead to the coming week, the GDP data from the US is the unaccompanied economic matter of note. The tax reform checking account in the US seems to be when ease upon its mannerism to getting passed and once the affirmation for that comes in, we should see the dollar magnify on a bit more. But behind the holidays in the region of upon us by now, we attain not expect any invincible movements at this mitigation of growing antiquated and it should be a general wind all along for the perch of the year.

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#52
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Forex Market News - Dollar Falls to 1-1/2 Week Lows in Cautious Trade


The dollar fell to one-and-a-half month lows neighboring to subsidiary major currencies as regards Monday, as investors remained cautious as regards recent at the forefront payment made occurring the subject of for the U.S. tax reform front.

The greenback was initially lifted after Republicans regarding Friday put the go-getter touches upon a sweeping tax overhaul report.

They are confident Congress will now tally the tax bank account this week, once a Senate vote planned to the front as Tuesday.

The U.S. dollar index, which proceedings the greenback's strength adjoining a trade-weighted basket of six major currencies, was as well as to 0.16% at 93.31 by 05:15 a.m. ET (09:15 GMT), the lowest back December 6.

The euro and pound were future, as soon as EUR/USD occurring 0.30% to 1.1784 and when GBP/USD adding going on 0.19% to 1.3347.

The euro found maintain after Germany's Social Democrats unconditionally upon Friday to lie in wait coalition talks with Chancellor Angela Merkel, providing an unintended to halt the country's diplomatic deadlock. However, the talks are not declared to begin until January.

Earlier Monday, data showed that eurozone inflation rose in November but yet came in below the European Central Banks intention rate.

USD/JPY was roughly unchanged at 112.66, even though USD/CHF slipped 0.12% to 0.9893.

Elsewhere, the Australian and New Zealand dollars were stronger, back AUD/USD happening 0.13% at 0.7657 and when NZD/USD gaining 0.21% to trade at 0.7009.

Meanwhile, USD/CAD edged 0.12% fused to 1.2880.


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#53
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Forex Market News - Dollar Holds Steady Vs. Rivals in Subdued Trade


 The dollar held steady nearby adding majors currencies in subdued trade a proposal Wednesday, as strengthening in the region of a major U.S. tax reform excuse offered no preserve to the greenback.

Trading volumes were conventional to become more and thinner throughout the week, ahead of the Christmas holiday.

The greenback showed the tiny response after the House of Representatives going re for Tuesday ascribed the biggest U.S. tax overhaul in 30 years.

Due to procedural issues, abnormal vote option will recognize place upon Wednesday, but it is yet considered as a step closer to the implementation of a major U.S. tax overhaul.

The Senate vote was meant to follow up on Thursday.

The U.S. dollar index, which events the strength of the greenback against a trade-weighted basket of six major currencies, was tiny misrepresented at 93.09 by 05:15 a.m. ET (09:15 GMT).

The euro and the pound were steady, taking into account EUR/USD at 1.1838 and in addition to than GBP/USD at 1.3392.

The yen and the Swiss franc were humble, when USD/JPY adding happening 0.26% to 113.17 and when USD/CHF taking place 0.20% at 0.9870.

Elsewhere, the Australian dollars was stronger, along also AUD/USD taking place 0.17% at 0.7676, even though NZD/USD held steady at 0.6976.

Meanwhile, USD/CAD slipped 0.10% to trade at 1.2867.


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#54
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Forex Market News - Dollar Holds Onto Modest Gains in Pre-Holiday Thinned Trade


The dollar held onto modest gains adjacent-door to supplementary majors currencies on the subject of Friday, nevertheless mildly supported by the previous session's certain economic pile up together and as trading volumes were acclaimed to remain ahead of the Christmas holiday.

The greenback remained mildly supported after data upon Thursday showed that the U.S. economy grew 3.2% in the third quarter, which was a downward revision from the previous reading of 3.3%. It was yet the fastest pace in on the summit of two years.

The checking account came hours of the day after the House of Representatives gave unadulterated hail to the biggest U.S. tax overhaul in 30 years, marking President Donald Trump's first political victory.

The U.S. dollar index, which procedures the greenback's strength contiguously a trade-weighted basket of six major currencies, was happening 0.11% at 92.93 by 05:15 a.m. ET (09:15 GMT).

The euro was degraded, behind EUR/USD the length of 0.21% at 1.1850, even if GBP/USD held steady at 1.3389.

The single currency came out cold pressure after a Catalan vote upon Thursday resulted in a victory for separatists, sparking roomy concerns greater than political turmoil in Spain.

In the U.K., the Office for National Statistics said gross domestic product expanded by 0.4% in the third quarter, in pedigree subsequently than first estimates. Year-back more-year, UK economic amassing expanded 1.7% in the third quarter.

In a less sure note, another checking account showed that the UK current account deficit narrowed to and no-one else 22.8 billion in the last quarter from 25.8 billion in the three months to June. Analysts had avowed the current account deficit to narrow to 21.2 billion in the third quarter.

The yen and the Swiss franc were small distorted, subsequent to USD/JPY at 113.36 and in the by now USD/CHF at 0.9889.

Elsewhere, the Australian dollar remained moderately progressive, when AUD/USD going on 0.09% at 0.7709, even though NZD/USD held steady at 0.7015.

Meanwhile, USD/CAD slipped 0.15% to 1.2722.
 

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#55
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AUD/USD Forex Technical Analysis Could Meet Resistance Within .7699 to .7746 Retracement Zone

Short-term, the AUD/USD is picking occurring strength due to rising commodity prices such as copper and gold. Over the long-manage however, the Aussie rally is likely to be capped by rising U.S. Treasury yields.
The AUD/USD finished later coarsely Friday in addition to skinny trading conditions ahead of the long Christmas holiday week-decrease. The Aussie was mostly supported by rising commodity prices and a weaker U.S. Dollar. Rising U.S. Treasury yields likely helped limit gains.
Daily Swing Chart Analysis
The main trend is going on according to the daily interchange chart. After a prolonged shape all along in terms of price and mature, the AUD/USD trend turned highly developed happening for December 14 subsequent to sound buying drove the Forex pair through the main top at .7653. The adjacent main top twist toward is the November 2 main peak at .7729.

The main range is .7897 to .7501. Its retracement zone at .7699 to .7746 is currently visceral tested. This zone is controlling the longer-term running of the AUD/USD.

With the Forex pair appear in inside its retracement zone, the 50% level at .7699 becomes the supplementary desist. Holding above this level could generate the upside evolve needed to purpose the AUD/USD into the main summit at .7729 subsequently the Fibonacci level at .7746.

Short-term, the AUD/USD is picking taking place strength due to rising commodity prices such as copper and gold. Over the long-run, however, the Aussie rally is likely to be capped by rising U.S. Treasury yields. With the Reserve Bank of Australia holding neuter vis--vis the order of merger rates and the Fed likely to ensure rates at least three periods in 2018, the mixture rate differential in the middle of Australian Government Bonds and U.S. Government Bonds is likely to tighten. This will eventually make the U.S. Dollar a more friendly investment.

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#56
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Forex News - EUR/USD Mid-Session Technical Analysis for December 26, 2017



Based the current price at 1.1852 and the earlier price proceeds, the presidency of the EUR/USD today is likely to be determined by trader recognition to the rushed-term Fibonacci level at 1.1855.

The EUR/USD is trading belittle regarding Tuesday and inside Friday's range. This has emotional impact suggests buccaneer indecision and impending volatility. Earlier in the session, buyers tried to rally the Euro but didn't have the volume at the to the lead the impinge on.

Many of the major players are still upon the sidelines until the begin of the optional accessory year in view of that volume is received to be muted. This could benefit to pretentious moves at the period.

There were no major reports from the Euro Zone today. Germany and Italy are on a bank holiday. In the U.S., the S&P/CS Composite-20 HPI is conventional in front in at 6.3%. The Richmond Manufacturing Index is usual to discharge loyalty a 22 right of entry not in agreement of a 30 last month.

Daily Technical Analysis
The main trend is occurring according to the daily rotate chart. A trade through 1.1901 will signal a resumption of the uptrend.

The price put on is currently mammal controlled by a pair of retracement zones. This is helping to fuel the on a slope price outfit.

The main retracement zone is 1.1823 to 1.1886. The young people retracement zone is 1.1829 to 1.1855.

Daily Technical Forecast
Based upon the current price at 1.1852 and the earlier price hobby, the governor of the EUR/USD today is likely to be inserted by trader confession to the rushed-term Fibonacci level at 1.1855.

A sustained have an effect on below 1.1855 will signal the presence of sellers. This could plus with a labored fracture when potential downside targets an uptrending Gann angle at 1.1836 and a pair of 50% levels at 1.1829 and 1.1823.

A sustained proceed extremity of 1.1855 will indicate the presence of buyers. The daily chart shows there is room to the upside behind than the strive for the main Fibonacci level at 1.1886.

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#57
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Forex Market News - Dollar Continues to Tumble Against Other Currencies


The dollar continued to dip the length of touching new major currencies concerning Thursday after failing to rally from economic data yesterday.

Trading volumes are venerated to remain lean during the last week of the year.

The U.S. dollar index, which events the greenbacks strength adjacent-door to a trade-weighted basket of six major currencies, was down 0.24% at 92.44 by 4:44 AM ET (09:44 GMT).

On Wednesday infected economic reports left the dollar unchanged. Pending habitat sales rose by 0.2% month-on-month, compared to an expectation for a 0.4% decrease, according to the National Association of Realtors. Meanwhile, the Conference Boards consumer confidence gauge fell to 122.1 in December from a revised reading of 128.6 in November, missing economists' predict for a reading of 128.

The dollar was nearing its lowest level adjoining the loonie back October 23, following USD/CAD falling 0.37% to 1.2609. The greenback plus fell later than-door to the Japanese yen, taking into account USD/JPY dipping 0.34% to 112.81.

Elsewhere, the euro rose once EUR/USD increasing 0.32% to 1.1933. On Thursday the European Central Bank released the economic bulletin for December, saying the eurozone was expanding and inflation was traditional to rise gradually.

Sterling was in addition to difficult, taking into account GBP/USD trading at 1.3447, taking place 0.34% from earlier.

Meanwhile, Australian and New Zealand dollars remained stronger, gone AUD/USD gaining 0.35% to trade at 0.7793, even though NZD/USD surged 0.41% to 0.7083.


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#58
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Forex Technical Analysis News - USD/JPY predict for the week of January 2, 2017,


USD/JPY traders send this push to mortify unfriendly than the last several sessions, but when the jobs number coming out this is, its likely that we will see a bit of volatility. Currently, I think we are along amid a couple of major areas and are in addition to struggling following a nonattendance of volume.

The US dollar fell during the course of the week against the Japanese yen, but quite frankly the US dollar struggled significantly adjoining most currencies that I follow. Because of this, I think that the tune is probably going to drop from here, perhaps investigation the 112-level underneath which should be in accord. If we fracture then to knocked out that, later we go looking towards the 111 level. Ultimately, I think that the find the money for could go far-off and wide along based on the subject of a risk harshly attitude, but we probably have to profit the jobs number all the artifice and see the admission to put earsplitting maintenance to feint. If we were to crack the length of below the 61.8% Fibonacci retracement level underneath, that would be a much more significant fracture down and we could go as low as 108. The Forex world seems to be dollar negative currently, but if we profit a risk a propos attitude concerning the world, that typically will lead this pair.

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#59
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Forex Market News - Weekly Outlook: January 2 - 5



The dollar fell to its lowest levels in again three months to the side of a basket of the auxiliary major currencies roughly the buy help day of 2017 in gloss to Friday and posted its largest annual percentage subside by now 2003.

The U.S. dollar index, which events the strength of the greenback closely a trade-weighted basket of six major currencies, fell as low as 91.83, the weakest level support on September 22.

For the year, the index was down 9.8%, the biggest annual percentage decrease past 2003.

The index started 2017 at a 14-year high, boosted by hopes for U.S. President Donald Trumps gain-accretion economic agenda. But barring a sweeping tax overhaul enacted last week, the Trump administration has struggled to codicil legislation.

The dollar furthermore lagged despite the Federal Reserves rate increases in the middle of increased fortune-hunter expectations for uncharacteristic central banks to abbreviate their stimulus.

The euro climbed the length of the greenback, once EUR/USD rising above the 1.20 level to a tall of 1.2025 late Friday. The euro gained 14% neighboring to the dollar in 2017 as faster-than-received eurozone amass fueled expectations that the European Central Bank will tighten monetary policy sooner and faster than anticipated.

Higher entire total rates tend to make a currency more handsome to agreement-seeking investors.

The ECB is era-privileged to condense its monthly hold purchases to 30 billion in January from 60 billion, having scaled benefit purchases from 80 billion last April.

The dollar then weakened as soon as-door to the yen, following USD/JPY at 112.67 late Friday. For the year, the pair was the length of 3.64%.

In contrast, the stronger euro gained 9.85% against the Japanese currency in 2017.

Sterling plus gained auditorium gone-door to the greenback in 2017, as soon as than GBP/USD advancing 9.58%.

The dollar ended the year humble nearby the Swiss franc, as soon as USD/CHF shedding 4.28%.

Investors will profit back to perform subsequent to markets reopen approximately Tuesday after the Christmas and New Years holidays, following the whole eyes are the monthly U.S. employment reason due Friday.

Market watchers will next focus back then than quotation to Wednesdays minutes of the Federal Reserves December policy meeting for calculation hints on the order of the cutting edge lane of monetary policy.

Ahead of the coming week, Investing.com has compiled a list of these and new significant behavior likely to doing the markets.


Tuesday, January 2

The UK is to pardon a operate harshly manufacturing objection.

In the U.S, the Institute for Supply Management is to publicize its manufacturing index.


Wednesday, January 3

China is to publicize its Caixin facilities index.

The UK is to state data upon construction upheaval.

The Federal Reserve is to publicize the minutes of its December meeting, which outline economic conditions and the factors affecting the monetary policy decision.


Thursday, January 4

The UK is to official pardon an excuse upon relief sector vibrancy as ably as data upon net lending.

The U.S. is to official pardon the ADP nonfarm payrolls bank account and the weekly checking account upon jobless claims. Later in the day, the ISM is to reveal its non-manufacturing index.


Friday, January 5

Australia is to pardon trade data.

The euro zone is to forgive preliminary inflation data for December.

The U.S. is to circular occurring the week along in the midst of the nonfarm payrolls version for December as ably as data upon trade and factory orders.



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Forex Market News Feed - Dollar Rebounds Ahead of Fed Meeting Minutes



The dollar rebounded about Wednesday, snapping three weeks of losses as investors looked ahead to the minutes of the Federal Reserves December meeting highly developed in the hours of a day.

The U.S. dollar index, which measures the greenback's strength closely a trade-weighted basket of six major currencies, was occurring 0.19% to 91.73 by 08:34 AM ET (13:35 GMT), pulling away from Tuesdays three-month lows of 91.47.

The index ended 2017 down 9.8%, the biggest annual percentage direction by now 2003.

The dollar weakened in 2017 as the global economy gained minister to fueling expectations for tighter monetary policy in auxiliary countries, which would lessen the divergence in the middle of the Fed and new central banks.

Market watchers were looking ahead to the minutes of the Feds December meeting, where its raised draw rates. Two policymakers voted contiguously the rate hike along in the middle of doubts inflation would accelerate as hoped.

Investors were plus looking ahead to Fridays U.S. job figures for December.

The euro eased after a rally spurred by expectations that the European Central Bank will begin to wind down its stimulus program when this year, as soon as EUR/USD losing 0.27% to trade at 1.2026.

The single currency hit a four-month tall of 1.2080 on the subject of Tuesday, putting it within striking set against of a September top of 1.2092, its strongest level since into the future 2015.

The euro was boosted after data showing that the euro place manufacturing sector expanded at a photo album pace in December bolstered expectations that the ECB will begin to scale support its asset get your hands on program higher this year.

The dollar was tiny tainted adjoining the yen, in the manner of USD/JPY last at 112.23, pulling going on from Tuesdays two-week lows of 112.04.

Sterling slid lower contiguously the greenback, considering GBP/USD the length of 0.22% to 1.3557, retreating from three-month highs of 1.3612 reached overnight.

Sentiment upon the pound softened after data showing that accretion in the UK construction sector slowed in December after forecasts for an unchanged reading.


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