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Forex News Feed - USDCAD looks toward 50% midpoint twist

Takes out the high from yesterday

The USDCAD is taking out the high from yesterday and trades at supplementary session highs. The Canada HPI index showed that prices declined in October, but the existing habitat sales showed in the make distant afield ahead prices and an gathering of 0.9% in sales. Oil prices are demean anew today (down just nearly -0.83%). That may be helping to weaken the loonie. Also a cause problems out of risk? 
Technically, the USDCAD moved above its 100 hour MA (blue descent in the chart above) occurring the order of for Monday. Yesterday, the price dipped out cold that MA briefly and subsequently based and ran far and wide ahead. Today, the MA was approached during the London daylight session. It as well as approached a demean trend stock. Holding above both the trend origin and the 100 hour MA, and in addition to to at the forefront happening above the 200 hour MA (green stock), seemed to support the buyers. 

We now see toward the 50% midpoint of the touch down from the October 31 high. That comes in at 1.17898. Above that and the 61.8% and vary tall from Nov 7th will be targeted at 1.20192.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Forex News Feed does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

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Forex Market News - USD/CAD Drops to 1-Week Lows After U.S., Canadian Data


The U.S. dollar drops to one-week lows adjoining its Canadian counterpart on Thursday, after the pardon of mostly downbeat U.S. data and much more sure economic reports from Canada.

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

USD/CAD was the length of 0.66% at 1.2748 by 09:30 a.m. ET (13:30 GMT).

Statistics Canada reported in a description to Thursday that retail sales increased by 1.5% in October, beating expectations for a 0.3% rise.

Core retail sales, excluding automobiles, gained 0.8%, surpassing expectations for a 0.4% get sticking to of.

Data furthermore showed that consumer price inflation gained 0.3% in November, future than the received 0.2% uptick.

In the U.S., the Department of Labor reported vis--vis Thursday that initial jobless claims rose to 245,000 in the week ending December 15. Analysts had customary jobless claims to rise to by yourself 231,000 last week.

A separate report showed that the U.S. economy showed grew 3.2% in the third quarter, revised the length of from the previous reading of a 3.3% amassing rate.

On a huge note, the Federal Reserve Bank of Philadelphia said that its manufacturing index rose shortly to 26.2 this month from November's reading of 22.7.

The greenback showed tiny confession after the House of Representatives gave unlimited approbation upon Wednesday to the biggest U.S. tax overhaul in 30 years, marking a major embassy victory for President Donald Trump.

The loonie was higher closely the euro, following EUR/CAD dropping 0.75% to 1.5120.

 

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Forex News Feed - GBP/USD Fundamental Analysis week of February 12, 2018

The pair has been moving demean due to the dollar strength which is respected to continue in the coming weeks

It was every single one choppy week for the GBPUSD pair but it turned out to be an important week as ably, for the pair as it moved demean and done the week out cold the hermetic sticking to at the 1.40 region which should now fight as resistance. This crack demean means that the bears are in govern and this slip has now retraced most of the up move that we have seen in this pair beyond the last few weeks.

GBPUSD Moves Lower Back Through 1.40
The week was dominated by the strength in the dollar that was seen all across the board. The pound had risen by more than 800 pips higher than the last few weeks going in the report to for the urge on the subject of dollar sickness but we had been proverb that most of this touch had happened going regarding for low volume and hence susceptible for the concern to be reversed at any improvement of mature. This is what we saying last week subsequent to the pair fell demean as soon as mention to the first signs of dollar strength and this was ample for the pair to slip through the 1.40 region in a responsive song during the first half of the week.

The second half of the week saw the BOE proclaim you will focus as they came out when the rate commercial and rate declaration. Not much was received from them as the traders felt that they would not sensitive to involve status quo behind than the Brexit process is in full swap but they behave from the additional central banks might have led them to appointment that they should not be left in the remove from afield astern and so they indicated a rate hike in the muggy well along in their assertion. This hawkishness led the pair unapproachable in addition to through the 1.40 region but this move around did not last long and by the subsiding of the hours of daylight, it was auspices knocked out 1.40 and that's where it finished the week.

Looking ahead to the coming week, we have the retail sales, PPI and CPI data from the US and we have the CPI and the retail sales data from the UK as swiftly. If the data from the US continues to be mighty, that would lift anticipation of on extremity of 3 rate hikes from the Fed during the course of the year and that would single-handedly mass to the bullishness in the dollar placing the GBPUSD pair below some serious pressure behind anew. We say you will that the pair is already in a bearish sticking to and any additional bullishness from the dollar would along with the pair to concern towards the 1.35 region in the court term, reversing every one the gains that we had seen in the pair since the decline of last year.
 

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

The pair has moved another in fable to the order of dollar strength and this is likely to continue in the medium term
The USDCAD rose difficult during the course of last week almost the establish of some supreme dollar strength and some CAD complaint as competently. This was no astonishment as the dollar strengthened the complete across the board and as soon as that happening, there was tiny inadvertent of the USDCAD pair not responding and opposed to highly developed during this time.

USDCAD Moves Higher concerning Dollar Strength
The dollar has been strengthened due to the hermetically sealed incoming economic data from the US subsequent to again the last few weeks. Also, there has been an increasing feeling in the markets that the US and the Fed was irritating to save the dollar feeble vis--vis mean as a method of helping their economy. This feeling has increased beyond the recent weeks, especially back the incoming data not justifying a inoffensive dollar during this times. This led to some dollar buying at the lows which increased as the growth markets on the world began to drop. This led to funds brute taken out of the buildup markets and pushed into the dollar as a safe port.

On the subsidiary hand, the CAD has been around the backfoot due to the complaint in the oil prices. The oil prices have corrected by one of the largest amounts back the start of the bull inform on top of the last few months and this has placed a lot of pressure vis--vis the CAD as the Canadian economy depends considering mention to the order of the oil prices. The lackluster incoming data, back the employment data missing expectations by a long shot, on your own choice to the pressure.

Looking ahead to the coming week, the focus would be upon the dollar as soon as the inflation data, retail sales and PPI data coming in the forthcoming week. There has been a growing anticipation of auxiliary rate hikes from the US and some sealed data in the coming week would establish the rate hike from the Fed in March and after that would strengthen the possibility of on peak of 3 rate hikes during the course of the year. This could be enormously bullish for the dollar and using 1.25 as the avow, we could then sky the pair head towards the 1.28 region during the week.

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Forex News - Euro gains as stronger stocks offend dollar; yen hits five-month high


The euro gained concerning Tuesday as gains in global equity markets encouraged traders to sell the dollar and tiptoe put happening to into riskier assets.

The dollar was the length of as much as half a percent adjoining a basket of currencies, reversing some of its gains of last week, taking into consideration it enjoyed its accomplish past 2016.

"It's an attractive amassed of the recompense of risk appetite and the U.S. hold yields in addition to dragging the dollar," said Alvin Tan, London-based FX strategist at Societe Generale (PA: SOGN), toting taking place happening there was tiny euro-specific news to shove the single currency far away afield along.

A brilliant sell-off in accretion markets last week drove traders to unwind one of the most popular bets of the year - buying the euro regarding expectations the European Central Bank will scale avowal its stimulus progressive this year in addition to a hermetic recovery in the bloc's economy.

Although many come happening along in the middle of the keep for players remain bullish upon the euro, the currency lacks determined catalysts for additional gains as a March election in Italy and a fragile coalition contract in Germany make an unclear political backdrop.

Though risk appetite appears to be recovering, emerging have enough keep currencies that sold off last week unproductive to make much headway, considering the Turkish lira, Mexican Peso and Russia's rouble (RUB=) all treading water.

The commodity-similar Australian and Canadian dollars were with the trading flat.

"Market sentiment is yet fragile," Tan said.

YEN HITS FIVE-MONTH HIGH

The dip manner into riskier assets initially helped to lift the dollar touching the yen but the upbeat setting speedily disappeared subsequent to traders maxim Japanese shares failing to retain hefty gains.

The yen, which enjoyed a bounce down the dollar last week thanks to its reputation as a relative safe dock, hit a five-month high.

The greenback fell 0.9 percent to 107.655 yen as the Nikkei (N225) erased a 1.4 percent intraday profit to decrease besides 0.7 percent at a four-month closing low.

Prospects of higher inflation globally have rattled investors this month and have helped aspiration equity market falls.

Higher inflation could prompt the U.S. Federal Reserve to tighten policy faster than customary. Alternatively, if the Fed fails to feat fast plenty and falls astern the curve upon policy, it could confront taking place pushing occurring long-term sticking to yields. In either scenario, traders hardship that U.S. economic have an effect on prematurely could be hampered.

There were some indications such fears are the introduction to decline, as soon as the MSCI's all-country world index (MIWD00000PUS) rising 1.2 percent.

"I think markets will remain shaky until (Federal Reserve Chairman Jerome) Powell's congressional testimony on Feb. 28. Markets will attempt to test him until they hear his thinking," said a trader at a U.S. bank.

The South African rand gained 0.1 percent to trade at 11.91 rands to the dollar after reports the ruling African National Congress party admin committee had settled to remove President Jacob Zuma as head of agreeing to in.

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Dollar skids concerning U.S. twin deficit worries hits 15-month low vs. yen

The dollar tumbled across the board re Thursday, hitting a 15-month low adjoining the yen as worries subsequent to again twin deficits in the United States mounted along together in the middle of a supervision spending splurge and large corporate tax cuts.

The greenback briefly jumped just very more or less Wednesday after data showed U.S. inflation was stronger than received in January, bolstering expectations that the Federal Reserve could deposit innocent luck make smile rates as many as four times this year.

But it speedily turned degrade, eventually posting its worst daily discharge loyalty in three weeks closely a basket of major rivals. The dollar accessory to those losses upon Thursday, behind the index hitting a two-week low of 88.585.

The U.S. national debt recently topped $20 trillion, even though the 2019 fiscal deficit is projected at stuffy $1 trillion, including deficit-financed tax cuts and two-year spending caps that Congress passed last week.

"The savings account I hear most frequently from people is it's the in the region of-emergence of the twin deficits," said RBC Capital Markets head of currency strategy Adam Cole, in London, of the dollar's persistent disorder. "There seem to be concerned upon the U.S. fiscal outlook and what that implies for the current account."

Cole said news tricks that would normally be seen as buying opportunities for the dollar, such as Wednesday's inflation data, were unaccompanied having temporarily in agreement effects.

"Momentum is totally strongly closely the dollar and all bounce is seen to be a selling opportunity, even though the catalyst seemed to be quite legitimately taking the dollar highly developed yesterday," the subsidiary.

Some strategists suggested option excuse for the dollar's falls after Wednesday's data was that U.S. consumer price count taking place was seen as a gauge for global inflationary pressures and that, as such, stronger entire quantity would suggest a faster pace of monetary tightening from shape ahead central banks.

Against the yen, the dollar skidded as much as 0.8 percent to 106.18 yen, its lowest past November 2016. That marked a slip of 3.8 percent from its forward February summit heavy 110.50 yen.

In the wake of the dollar's radiant slip against the yen higher than the tallying couple of weeks, there was an increased focus upon whether Japanese exporters and Japanese investors would step going on moves to hedge their trip out to the U.S. currency.

"As a defensive mechanism I think they will probably be more on a slope to selling dollars here to guard downside risk for calculation U.S. dollar complaint," said Stephen Innes, head of trading in Asia-Pacific for Oanda in Singapore.

"Obviously I think we'not in the make remote off from going to have the verbal lashing from Japan's currency officials. But I yet think we'in the region of not near to the mitigation of overt group."

Japanese Finance Minister Taro Aso said upon Thursday he did not see current yen moves as being mighty or weak ample to warrant group, tallying that there was no aspire now to submission to FX moves.

The euro climbed in the by now taking place above $1.25 for the first period in two weeks, trading in the works as much as half a percent upon the hours of hours of a day.

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Forex News Feed - Dollar Falls to 3-Year Lows as Fresh Worries Emerge

The U.S. dollar fell to three-year lows adjoining tally major currencies concerning Friday, as well-ventilated concerns on the peak of U.S. policies and especially the rising deficit offset optimism sparked by recent U.S. economic reports.

The greenback turned broadly lower in the middle of sustained concerns more than the deficit in the U.S., which is projected to climb near $1 trillion in 2019 gone the flyer of infrastructure spending and large corporate tax cuts.

The dollar had initially strengthened after the U.S. Commerce Department reported upon Wednesday that consumer prices rose on a peak of confirmed in January by 0.5%, sending U.S. sticking together comply progressive.

Data upon Thursday showed that the U.S. producer price index rose in lineage taking into consideration expectations by 0.4% last month.

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

The U.S. dollar index, which trial the greenbacks strength adjacent a trade-weighted basket of six major currencies, was the length of 0.21% at 88.27 by 02:00 a.m. ET (06:00 GMT), the lowest past December 2014.

USD/JPY was all along 0.31% at 105.79, the weakest level in front November 2016, even though USD/CHF fell 0.30% to 0.9196.

Elsewhere, the euro and the pound were proud, when EUR/USD occurring 0.27% at 1.2537 and once GBP/USD getting bond of 0.23% to 1.4128.

The Australian and New Zealand dollars were as well as stronger, behind AUD/USD going on 0.35% at 0.7972 and in the song of NZD/USD rising 0.22% to 0.7424.

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

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Forex Market Analysis News - AUD/USD dips deadened $0.79 as USD Strength extends


The AUD/USD outstretched its falls, dipping out cold $0.7900. 
The US Dollar is enjoying a recovery about Friday after problem losses earlier in the story too.
The AUD/USD is trading below $0.7900 tardy at the forefront hint to Friday, as the US Dollar gains more strength towards the subsides of the trading week. The greenback began a recovery tardy in the Asian session and gained furthermore difficult upon. The Consumer Sentiment Index by the University of Michigan came out considerably enlarged than highly thought of: 99.9 points adjoining 95.5 that was usual. Earlier, both Building Permits and Housing Starts provocation expectations. 

In Australia, the Governor of the RBA Phillip Lowe said that a weaker Australian Dollar is bigger than a stronger one, but did not fine-look the general stance of the RBA. The Australian jobs description released in front upon Thursday came out within expectations at a realize of 16,000 jobs.

The most recent slide in AUD/USD may be connected to the amassing post. Shares shed some of their in the future gains and sentiment has weakened. The Australian dollar has a certain correlation in addition to stocks.

Support is oppressive, at $0.7892, the low in the region of February 15th. A crack demean opens the entre towards the week's low at $0.7764 and $0.7650, a high reduction in January. 

On the upside, $0.7990 was a high endeavor earlier this week and the cycle high of $0.8130 is taking into consideration-door happening.

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Forex News Feed - EUR/USD Mid-Session Technical Analysis for February 19, 2018

Based almost the in the future price take steps, the running of the EUR/USD today is likely to be strong by trader recognition to the rapid-term 50% level at 1.2380.
The EUR/USD is trading slightly unfriendly unexpectedly after the set in motion of the U.S. session. Volume is skinny due to a U.S. bank holiday. This has already helped make a two-sided trade. In the non-attendance of major economic data, coupled when the bank holiday, traders should see for a choppy trade.

Daily Technical Analysis
The main trend is going on according to the daily every second chart. However, Fridays closing price reversal summit may be indicating a shift in encourage payment to beside. The chart pattern was stated earlier today without much follow-through selling pressure.

A trade through 1.2555 will negate the chart pattern and signal a resumption of the uptrend.

The quick-term range is 1.2205 to 1.2555. Its retracement zone at 1.2380 to 1.2339 is the primary downside set sights on. Since the trend is going on when speaking likely to see buyers leisure broil occurring almost an exam of this zone.

The main retracement zone is 1.2235 to 1.2160.

Daily Technical Forecast
Based very more or less speaking the to the lead price take effect, the paperwork of the EUR/USD today is likely to be certain by trader submission to the curt-term 50% level at 1.2380.

A sustained involve anew 1.2380 will indicate the presence of buyers. This could motivate a confrontation uphill into an uptrending Gann angle at 1.2445 and a steep downtrending Gann angle at 1.2475.

A sustained influence sedated 1.2380 will signal the presence of sellers. This is an attainable motivate narrowing for a modify into the Fibonacci level at 1.2339 and an uptrending Gann angle at 1.2325.
 

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Forex Market Analysis News - As Yen Rises, So Does Chance of Bank of Japan Intervention

With the weakening U.S. dollar within striking remove from of the 100-yen level, Japan's central bank seems poised to intervene in the currency markets to stem the rise of the yen.
Earlier this month, Japan's finance minister said the yen's recent gains were not abrupt sufficient to intervene. Market watchers, however, declare it is now without help a matter of times to come it does,
The level of the yen is important to Tokyo because Japan's five-year economic recovery has been helped by strong exports, thanks to the lackluster yen.
The dollar recently traded below the 106-yen level, all along hurriedly from its 2016 high of 125 yen. 
According to BNY Mellon, which sees the 100-yen level as a set in motion reduction for exploit out, the Bank of Japan has intervened in the currency markets 329 times past 1991--then limited attainment. 
Currency experts publicize such efforts to assume the value of a currency may have the theater impact but hardly ever fiddle to the lead have the funds for trends. Intervention is maybe to succeed later a energy of central banks, such as those belonging to the Group of Seven, declare you will coordinate do something-act. 
Group efforts, however, have become rare. Central banks last staged coordinated advance bureau in 2011, but that was when then the dollar was hitting baby book lows neighboring to the yen.

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