Daily Market News by Xtreamforex.com

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  1. #61
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    Default Gbp/usd poised to continue bull-run after declining into long-term support

    Daily Market News by Xtreamforex.com
    GBP/USD POISED TO CONTINUE BULL-RUN AFTER DECLINING INTO LONG-TERM SUPPORT


    GBP/USD may be poised to continue pushing higher following a couple of weeks of declines. Sterling is currently trading up softly on thin markets to kick off the new weeks, treading into the 1.3840 region ahead of European markets.

    Sterling has suffered at the hands of market sentiment as of late, with pullbacks in equities and spikes in bond yields to multi-year highs sending traders head-first into safe havens at the expense of risk assets such as the British Pound.

    Despite recent selling pressure on the Queen’s currency, fundamentals are beginning to look good for the UK, with Prime Minister Theresa May experiencing a bump in polling along with Brexit fears seeming to tame somewhat, even as the British Parliament and leaders within the EU continue to trade barbs back and forth. The Bank of England (BoE) is also upbeat, with a positive outlook on the UK’s economy as economic growth begins to build on itself, causing the BoE to begin hinting at interest rates in the near future.

    The Kingdom has a slew of economic data on the docket for Tuesday this week, most notably being CPI data for January at 09:30 GMT. A positive uptick here will only further cement the BoE on a path towards interest rates, with some market forecasts already calling for a May rate increase.

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  2. #62
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    Default Gbp/jpy lacking direction, uk cpi data on the docket for today

    GBP/JPY LACKING DIRECTION, UK CPI DATA ON THE DOCKET FOR TODAY


    GBP/JPY indecisive in Tokyo trading.
    UK CPI data due at 09:30 GMT today.
    GBP/JPY is stepping lightly in Asia markets, fidgeting around 150.42 following a flat Monday.

    The pair has had a rough go of things lately, closing lower or flat for six of the last seven trading days. With the threat of interest rate increases looming on the horizon, traders have been flighty and prone to fits of risk aversion, dumping equities and risk assets in order to pile into safe havens. With the UK showing steady upticks in economic growth and the Bank of England (BoE) preparing to begin tightening their monetary policy, the era of easy money for global markets is set to end, leaving risk appetite in a precarious position.

    The UK will be dropping their CPI data today at 09:30 GMT; a slight contraction in price growth is anticipated by market forecasts, with analysts calling for a 2.9% reading compared to the previous 3.0%.

    Adding to the pair’s woes is the Yen’s relentless strength recently; as the Yen continues to be the market’s safe haven of choice, despite relentless soothing from figures at the Bank of Japan, reminding markets that the BoJ is not inclined to begin raising reates anytime soon in an attempt to keep the Yen weighted down while Japan’s economy struggles to continue adding to its inflation numbers.

    Read more : http://www.xtreamacademy.com/forex-n...-docket-today/

  3. #63
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    Default Usd/jpy drops in tandem with nikkei, weakest since nov 2016

    Tracks Nikkei 225, DXY lower.
    Profit-taking ahead of the US CPI?
    The bears regained control after a brief recovery seen in the USD/JPY pair, now pushing the rates southwards in a bid to print the lowest levels since November 2016.

    USD/JPY headed to 107.00

    The spot is seen replicating the moves witnessed in Asia a day before, as risk-aversion seeps back into markets, with the Asian equities crumbling again alongside oil prices. Japan’s benchmark index, the Nikkei 225 sinks nearly 0.90% to 21,053 points while Treasury yields dive across the curve, in turn adding to the downslide.

    The major also faces a double whammy from broad-based US dollar weakness, as the buck tracks Treasury yields lower amid a sense of caution ahead of the key US CPI figures, which are likely to shape up the Fed’s rate hike outlook this year.

    Meanwhile, the JPY markets appear to have shrugged off the disappointment in the details of the Japanese Q4 GDP report, which showed that the preliminary Q4 GDP arrived at 0.1% q/q vs. 0.2% expected.

    Read more : http://www.xtreamacademy.com/forex-n...ince-nov-2016/

  4. #64
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    Default Usd/jpy – aso’s comments kill the technical recovery

    USD/JPY – ASO’S COMMENTS KILL THE TECHNICAL RECOVERY


    Yen regains bid after Aso talks down need for FX intervention.
    USD/JPY drops 30 pips from 106.89.
    The technical recovery in the USD/JPY pair fell apart at 106.89 as the Japanese Yen picked up a bid after Japanese Finance Minister Aso played down the need for FX intervention.

    Speculation has been gathering pace that Yen appreciation may not go down well with the authorities in Tokyo. However, Aso’s comments indicate the policymakers are comfortable with the recent appreciation of the Japanese Yen.

    So, for the time being, the JPY bulls have little reason to fear. That said, the technical charts show oversold conditions. The daily RSI has hit the oversold territory. Further, risk reversals have diverged from the spot, indicating a drop in the premium claimed by JPY calls (bullish bets) over JPY puts (bearish bets).

    Also, the 10-year treasury yield continues to rise and more importantly the US stock market has remained resilient. Hence, caution is the name of the game for the JPY bulls.

    Read more : http://www.xtreamacademy.com/forex-n...ical-recovery/

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    Default Aud/usd bidding higher in asia trading, pushing into 0.7955

    AUD/USD BIDDING HIGHER IN ASIA TRADING, PUSHING INTO 0.7955


    AUD/USD up on USD selling in Tokyo.
    RBA Gov Lowe doesn’t see a rate increase any time soon.
    AUD/USD is continuing to climb on thin trading volumes, testing into 0.7955 as of writing.

    The pair experienced a choppy Thursday following Wednesday’s Greenback plunge as inflation within the US economy begins to heat up, with month-over-month CPI data beating both previous the previous reading and median market forecasts. The Aussie’s growth in recent days, closing higher against the US Dollar in four of the last five consecutive trading days, owes itself largely to the broad-market selling of the USD rather than any internalities from Australia.

    The Reserve Bank of Australia’s Governor, Philip Lowe, appeared before parliament’s Standing Committee on Economics where he reiterated the RBA’s holding pattern in the face of sluggish economic growth and mixed data. With inflation struggling to make a decisive appearance, the RBA has no choice but to hold steady on their monetary easing policies, even as major global competitors are racing to begin tightening their belts and raise interest rates.

    Read more : http://www.xtreamacademy.com/forex-n...ushing-0-7955/

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    Default Usd/jpy – stuck in a 40-pips range

    USD/JPY – STUCK IN A 40-PIPS RANGE

    Stuck in 106.00-106.40 range.
    Risk reversals retrace JPY call bias.
    USD/JPY has been restricted to a narrow range of 106.00-106.40 since Friday’s late NY trading and the risk reversals indicate the range could be breached on the higher side.

    As of writing, the spot is trading at 106.23, having clocked a high of 106.37 and a low of 106.10. The pair hit a low of 105.55 on Friday before moving back above 106.00 on chart factors (oversold conditions). Also, the options market indicates the premium held by JPY calls (bullish bets) over JPY puts has dropped over the last few days.

    The one-month 25 delta risk reversals are being paid at JPY 2.025 calls vs. JPY 2.425 calls on Feb. 12. Also, weekly risk reversals are being paid at JPY 1.53 calls vs. JPY 2.50 calls. The decline in demand for JPY calls (as highlighted by the drop in premium) could be an indication the investors are expecting a corrective rally in the USD/JPY spot.

    So, the 40-pip trading range could end with an upside break. That said, the fears of a full-blown trade war between the US and China could keep Yen losses under the check.

  7. #67
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    Default Aud/usd falls back down following construction data disappointment

    AUD/USD FALLS BACK DOWN FOLLOWING CONSTRUCTION DATA DISAPPOINTMENT

    AUD/USD retreats on construction miss.
    USD getting a push from bond yields.
    AUD/USD has dropped lower again following a pick up in early Tokyo trading, and the pair is currently back down below 0.7880.

    The Aussie slipped against the Greenback after a disappointment in the Construction Work Done figures for the 4th quarter of 2017, coming in at a 19.4 contraction, widely missing the median market forecast of a 10% decline, and a deep correction from the previous reading of 16.6%. While Wage Price Index data posted a mild beat over forecasts with year-on-year posting 2.1% versus the anticipated 2%, mixed economic data points for Australia continues to pigeonhole the Reserve Bank of Australia (RBA) in wait-and-see mode. Headline growth figures for Australia continue to lag behind global trends, and the RBA is left in a holding pattern, unlikely to raise key rates into 2020 while central banks around the world prepare to begin tightening their respective easy fiscal policies and prepare to fight inflation.

    Read more : http://www.xtreamacademy.com/forex-n...isappointment/

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    Default Nzd/usd claims the 0.73 handle in tokyo

    NZD/USD CLAIMS THE 0.73 HANDLE IN TOKYO

    The Kiwi breaking upwards in early trading.
    Little data for the Kiwi leaves the door open for knock-on volatility.
    The NZD/USD is trading up in the Tokyo markets, breaking passed the 0.7300 handle as of writing.

    With the NZD slated for a light showing data-wise this week, the NZD/USD’s focus will be driven largely by market sentiment, with the Kiwi currently spiking thanks to knock-on Yen buying to mark the beginning of the week.

    Key economic data points for New Zealand were recently revised upwards, but weak points remain within the Kiwi’s economy, and with growth lagging behind global trends, the Reserve Bank of New Zealand is expected to stand pat on rates well into 2020.

    Read more : http://www.xtreamacademy.com/forex-n...-handle-tokyo/

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    Default Usd/jpy flirts with 107.00 handle, risk reversals shed jpy call bias

    USD/JPY FLIRTS WITH 107.00 HANDLE, RISK REVERSALS SHED JPY CALL BIAS

    Risk reversals show demand for JPY calls (bullish bets) is falling.
    Eyes Powell testimony
    The USD/JPY pair’s recovery from 106.38 yesterday has left a higher low on the daily chart, indicating a short-term bottom has been made at 105.55 (Feb. 16 low).

    Further, the one-month 25 delta risk reversals (JPY1MRR) gauge indicates falling demand for JPY calls (buy Yen). As of writing, the risk reversals are being paid at 1.4 JPY calls vs. 2.4 JPY calls seen on Feb. 12. The drop in the JPY volatility premium (from 2.4 to 1.4) indicates JPY bullish bias has weakened.

    The technical setup and the activity in the options market clearly indicate the investors believe the new Fed chair Jerome Powell will remain measured in his first testimony (due later today).

    Read more : http://www.xtreamacademy.com/forex-n...jpy-call-bias/

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    Default Aud/jpy stumbles to 83.50 on china pmi miss

    AUD/JPY STUMBLES TO 83.50 ON CHINA PMI MISS

    The AUD/JPY is dumping on China PMI miss.
    Bearish pressure continuing to mount on pair as Aussie loses grip.
    The Aussie has fallen against the Yen, giving up the overnight session’s gains and the pair is now trading near the 83.50 handle and still moving jumpy.

    A wide miss for Chinese PMI data has sent the Aussie tumbling in Asia markets; Manufacturing and Services PMIs both failed to match up with analyst expectations, and the market saw Manufacturing PMI come in at 50.3 versus the previous 51.3 and Services PMI drop to 54.4 following the previously reported figure of 55.3. The sudden decline in Manufacturing PMI sees the indicator barely holding onto positive territory, which doesn’t bode well for Australia’s largest trading partner, and traders have responded to the weakness by dumping the Aussie.

    Australia doesn’t need the help from China right now, as economic data for the island country continues to middle in the face of unsustainable levels of household debt and restrained wage growth. The Reserve Bank of Australia (RBA) is stuck in a holding pattern on interest rates, awaiting any signs of improving economic growth, and the RBA has had to leave the door open for the possibility of future easing if things don’t begin to improve.

    Read more : http://www.xtreamacademy.com/forex-n...hina-pmi-miss/

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