Daily Market News by Xtreamforex.com

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  1. #321
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    Default The Dollar Elevated but Endures near Seven-week low Amid Fed policy Decision

    Daily Market News by Xtreamforex.com
    The dollar was up on Tuesday morning in Asia, although, stayed near multi-week lows as U.S. Treasury yields sink. Most investors consolidate positions ere the U.S. Federal Reserve’s most advanced policy decision.

    The U.S. Dollar Index traces the greenback slightly up by 0.14% to 90.907 against the basket of other currencies.

    The USD/JPY pair slightly up 0.15% to 108.25, with U.S. currency climbing up 0.1% with ongoing inclination from Friday’s seven-week low of 107.48.

    The Bank of Japan kept its interest rates the same at 0.10% at the time of releasing the policy decision earlier in the day with the expectations of Investors.

    The AUD/USD pair inched down 0.12% to 0.7790.

    The NZD/USD pair inched down 0.14% to 0.7224.

    The USD/CNY pair slightly up 0.03% to 6.4863.

    The GBP/USD pair edged down 0.06% to 1.3888.

    The euro dropped down 0.1% to $1.2078 but remained near the one-month high of $1.2117 hit on Monday.

    The dollar has declined nearly 3% since late March 2021, as U.S. Treasury yields remain untouched in restricted areas after escaping from their 14-month high of 1.7760%. The benchmark 10-year U.S. Treasury yield hovered near 1.58% on Tuesday.

    Investors are looking forward to the Fed’s decision on Wednesday, keenly waiting for the comments from Chairman Jerome Powell. Mostly the questions will be in regards to enhanced economic outlook justifies removal of monetary easing by the central bank.

    The dollar has declined nearly 3% since late March 2021, as U.S. Treasury yields remain untouched in restricted areas after escaping from their 14-month high of 1.7760%. The benchmark 10-year U.S. Treasury yield hovered near 1.58% on Tuesday.

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  2. #322
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    Default Dollar Elevated with Expectations on Fed Policy Decision

    The Dollar inclined on Wednesday Morning in Asia after the U.S. Federal Reserve’s announcement of latest policy decision and Joe Biden’s spoke in front of a collective assembly of Congress, is going to happen later in the day.

    The U.S. Dollar Index traces the greenback against a basket of other currencies edged up 0.10% to 90.980.

    The USD/JPY pair inched up 0.14% to 108.83 as Japan showed a 5.2% gains which were better than the expectation in March retail sales yearly earlier in the day, but the nation still in a worrisome situation due to the rapid increase in COVID-19 cases and Bank of Japan’s confession on Tuesday that inflation is not going to reach its key 2% target through early 2023.

    The AUD/USD pair declined 0.24% to 0.7745. Australia’s Consumer Price Index (CPI) data released earlier in the day, rising 0.6% quarterly and 1.1% yearly during the first quarter of 2021.

    The NZD/USD pair was stable at 0.7207.

    The USD/CNY pair edged up 0.05% to 6.4863.

    The GBP/USD pair declined 0.26% to 1.3876.

    Even Though the dollar recover from its lowest level since March 3 hit on Monday disbelief abide on whether its downward trend since late March is over.

    Receding odds on whether the Fed will start putting the foundation for a future policy tightening promptly when its hands down its decision, also contributed to the U.S. currency’s decline.

    Although the central bank is anticipated to maintain its aggressive policy, some investors suggested that signs of rising inflation expectations could nudge it to reject the position sooner than expected. The break Even inflation rate rose above 2.40%, its highest level since 2013, on Tuesday.

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  3. #323
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    Default Dollar Declined, Euro Elevated as Fed kept Dovish Monetary Policy

    The Dollar declined on Thursday morning in Asia, as the U.S. Federal permit in its most advanced policy decision the global reflation trade with persistently aggressive monetary policy.

    The U.S. Dollar Index traces the greenback against a basket of other major currencies slightly down 0.08%.

    The USD/JPY pair slightly down 0.01% to 108.58. A holiday in Japan could help reduce losses during the Asian session.

    The AUD/USD pair Edged up 0.04% to 0.7792.

    The NZD/USD pair Edged up 0.08% to 0.7258.

    The USD/CNY pair inched down 0.11% to 6.4702.

    The GBP/USD edged up 0.15% to 1.3954.

    The dollar’s failure was the euro’s gains, with the only currency hitting its highest level against the dollar following late February 2021 while deciphering major trendline resistance at $1.2114.

    The Fed preserved its interest rate constant at 0.25% as it delivered its policy decision on Wednesday as per investor expectations. Fed Chairman Jerome Powell stating it was “not time yet” and that employment still had a long way towards recovery.

    USD/TRY slightly higher to 8.1972, before the first public policy presentation by Turkey’s new central bank Governor Sahap Kavcioglu.

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  4. #324
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    Default Xtreamforex Technical Analysis : 30-04-2021

    Pound (1.3947) has been rising slowly. A break above 1.40 is needed for the pair to turn bullish and rise further towards 1.41-1.42 in the longer run.

    For now watch a rise to 1.40 to see if it manages to break above or faces rejection from there.

    RESISTANCE LEVEL: R1: 1.39573, R2: 1.39657, R31.39794 PIVOT POINT: 1.39488 SUPPORT LEVEL: S1: 1.39352, S2: 1.39215, S3: 1.39131.


    Euro
    (1.2118) dipped from 1.2150 but the decline is likely to be limited to 1.2090 for the near term before the Euro again starts to rise. Watch price action near 1.2090.

    RESISTANCE LEVEL: R1: 1.21325, R2: 1.21427, R3: 1.21564 PIVOT POINT: 1.21223 SUPPORT LEVEL: S1: 1.21086, S2: 1.20949, S3: 1.20847, S3: 1.20745.

  5. #325
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    Default Dollar Constant as Traders Support for more U.S. Data

    After its recent bounce on Monday, the Dollar straightened as investors made a cautious start to a week packed with central bank meetings and U.S. economic data, anticipating evidence on the global inflation outlook and policymakers’ responses.

    Trade was reduced by holidays in Japan, China, and Britain, which kept a cover-up on volatility, leaving the U.S. Currency to trade where it completed after a Friday leap.

    It held at $1.2040 per euro and crept to a three-week high of 109.66 yen.

    The U.S. Dollar Index traces greenback versus a basket of other currencies slightly up 0.07% to 91.330.

    The USD/JPY pair was high 0.229% to 109.59.

    The AUD/USD pair edged up 0.05% to 0.7720.

    The NZD/USD pair elevated 0.22% to 0.7176.

    The USD/CNY pair inched up 0.05% to 1.3821.

  6. #326
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    Default Dollar High as regardless of Surprise fall in U.S. Manufacturing Data

    The dollar was high on Tuesday morning in Asia as an unexpected slowdown in U.S. manufacturing growth cut off Investor bets on a booming U.S. economy giving the U.S. currency a boost.

    The U.S. Dollar Index traces the greenback against a basket of other currencies inclined 0.22% to 91.125.

    The USD/JPY pair was up 0.22% to 109.28.

    The AUD/USD pair was down 0.21% to 0.7744.

    The NZD/USD pair inched down 0.33% to 0.7174.

    The USD/CNY pair was steady at 6.4735.

    The GBP/USD pair was down 0.27% to 1.3872.

    Japanese and Chinese markets remained closed for a holiday.

    The U.S. Institute of Supply and Management ISM Manufacturing Purchasing Managers Index (PMI) released on Monday, was a lower-than-expected 60.7 for April.

    The euro rose 0.3%, as investors understood economic data from the region. The German Manufacturing PMI was 66.2 for April, while the Eurozone’s manufacturing PMI was 62.9.

    Investors are now looking to further data to be released later in the week including the U.S Trade balance and the April U.S. employment report which includes non-farmer payrolls.

    Benchmark ten-year U.S. Treasury yields dropped 2.5 basis points late as the data baffled, and like New York, Fed President John Willian emphasized that the economic recovery so far is “not nearly enough” to harden monetary policy.

  7. #327
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    Default The Dollar Climbs Highest in over Two Weeks

    The dollar was up on Wednesday morning in Asia as concerns over U.S. Treasury Secretary Janet Yellen’s comments about increasing interest rates.

    The U.S. Dollar Index traces the greenback versus a basket of other currencies was high 0.31% to 91.210.

    The USD/JPY pair was steady at 109.32.

    The AUD/USD pair elevated 0.35% to 0.7732.

    The NZD/USD pair gained 0.38% to 0.77196.

    The New Zealand dollar was supported by local employment data, including the employment change that increased 0.6% quarterly during the first quarter of 2021.
    The USD/CNY pair was steady at 6.4735.

    The GBP/USD pair inched up 0.15% to 1.3906 as investors expect the Bank of England policy decisions that will be delivered on Thursday.

    This jump in the dollar came in the wake of comments from U.S. Treasury Secretary Janet Yellen inferring the requirement of increased rates in the future.

    Yellen said at a virtual meeting on Tuesday “It may be that interest rates will have to rise somewhat to make sure that our economy doesn’t overheat,” “Even though the additional spending is relatively small relative to the size of the economy, it could cause some very reasonable increases in interest rates.”

    Yellen later tried to reverse the importance of these remarks, but the mere mention of U.S. tightening frightened a market that has become so affected by the Federal Reserve’s monetary stimulus.

    So far, Federal Reserve Chair Jerome Powell has disputed the labor market is still far short of where it needs to be to start talking of tapering asset buying.
    Three more Fed officials are speaking later on Wednesday providing the opportunity for further market-moving comments.

  8. #328
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    Default World Stocks on a Progressive note for First Weekly Gain

    World stocks managed for their first weekly gain in three in the middle of the flood in commodity prices on the other hand traders supported the U.S. jobs report later on Friday that could provide clues on when the Federal Reserve will ease back on monetary stimulus.

    European stocks opened higher, with the pan-European STOXX 600 index scoring a record as powerful data from Germany and other major economies added to hopes of a swift recovery from the pandemic shock.

    By midday in London, German DAX climbed 1.3%.

    France’s CAC 40 scored its highest since November 2000 Britain’s.

    FTSE 100 breached the 7,100 marks, up 0.7% on the day.

    MSCI’s benchmark for global equity markets, which tracks stocks in 50 countries, slightly up about 0.2%, on course for a 0.5% gain this week.

    Its broadest index of Asia-Pacific shares outside Japan lifted about 0.4% on Friday, while Japan’s Nikkei increased about 0.2%.

    China’s blue chips finished at 1.3% lower on the day.

    Iron ore futures jumped to a record high on Friday, while crude oil rose.

    Wall Street investors piled into economically-sensitive stocks on the reflation trade, driving the Dow Jones Industrial Average to a record close on Thursday.

    The Dow climbed 0.9%, the S&P 500 gained 0.8% and the Nasdaq Composite added 0.4%.

    S&P futures led to further gains 0.3% higher on Friday.

    The Russell 1000 Value index increased 0.8%, outpacing the Russell 1000 Growth index, which raised 0.5%.

  9. #329
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    Default Dollar Soothes after Beating U.S. Jobs Report

    The U.S. dollar aided losses near 2-1/2 month lows on Monday as a bitter U.S. employment report advised investors to unwrap their increasing long positions in the U.S currency.

    The United States developed a little more than a quarter of the jobs that economists had anticipated last month and the unemployment rate suddenly jumped higher, projecting uncertainties that the Fed would judge improving the timeline of tightening policy in the coming months.

    The Dollar Index traces the greenback against six opponents, attained at 90.305, up 0.2% on the day, after dipping as low as 90.128 for the first time since Feb.

    However, the dollar’s losses were skipped due to more specific U.S. Treasury yields, which were up nearly 2 bps in early London trading at 1.60%.

    The Sterling was the winner among the most traded currencies, rising 0.5% to $1.4067 the highest since Feb. 25.

    Such a plebiscite requires the reinforcement of the UK government in London and Prime Minister Boris Johnson has managed out keeping another vote, mentioned that the country faced more constraining difficulties such as the recovery from the corona virus pandemic.

    The euro stabled 0.1% to $1.2142, earlier touching the highest since Feb. 26 at $1.2177.

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    Default Dollar Up, Commodity Currencies Restrict Gains

    in ro ham eslah kon:
    The dollar gains in early European trade Tuesday, however, gains were completed by the strength of commodity currencies on the back of rises in the prices of oil and base metals.

    The U.S. Dollar Index traces the greenback against a basket of other currencies crawled down 0.06% to 90.237 by 11:53.

    The USD/JPY pair slightly up 0.10% to 108.89.

    The AUD/USD pair slightly up 0.03% to 0.7833 ahead of Australia’s federal budget, due to be handed down later in the day.

    The NZD/USD pair trimmed down 0.14% to 0.7264.

    The USD/CNY pair inched up 0.18% to 6.4270.

    China’s CPI just dropped expectations, contracting 0.3% monthly but rose 0.9%Yearly. The PPI increased a 6.8% year-on-year.

    The GBP/USD pair edged down 0.01% to 1.4118.

    Investors are looking forward to inflation data from the U.S., including core CPI, that will be released on Wednesday. The data will measure the level of inflationary pressure and could accelerate Treasury yields up, possibly it could give the greenback a lift.

    Prices for commodities including crude oil, copper, and steel are expected to rise further, increasing concerns about runaway inflation.

    The dollar was trading at $1.2097 against its Canadian counterpart.

    The greenback’s weakest level in more than three years. It was also near a two-week low against the Mexican peso.

    Demand for commodities is anticipated to grow continuously because the improved COVID-19 vaccinations could lead to a growing economic viewpoint in more countries.

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