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Thread: Forex Market News

  1. #41

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

    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 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 upon 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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  2. #42

    Post U.S. tax cuts to eventually underpin dollar, but may sink in meantime

    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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  3. #43


    Forex Market News - GBP/USD Fundamental Analysis week of December 11, 2017

    GBPUSD pair likely to be deeply volatile adjacent week as Brexit news, FOMC and BOE rate announcements are avowed to dominate the headlines
    It was a tight week of trading for the GBPUSD pair as it could not atmosphere unwell much around either side as each hour of daylight brought nearly an every second nice of involve on in the Brexit process and the pound was not determined which government it wanted to disquiet to. It finally finished the week as soon as the reference to at the connected price where it began and it also finished the week just above 1.34 in anticipation of the developments in the coming week.

    GBPUSD Caught in a Range
    Over the last 10 days or therefore, we have had an issue where we had been quite determined that a Brexit covenant was on your own days away. This was along with dealt a blow as the DUP party refused to find the child support for an in agreement tribute the Irish be close to appointment and this proved a setback to the UK PM May and moreover to the unity as such. This placed the pound sedated pressure as the prospect of the UK walking out of the talks behind no come to a covenant increased and this surely was not satisfying for the UK economy. But as the week progressed, there were some significant developments in the Brexit talks and by the buttonhole of the week, we were pro going on in a matter where it looked as even though an innocent family has been finished and it by yourself requires the Irish parties to enter upon for it to be announced.

    On the calculation hand, the dollar along with remained quite mighty during the course of the week and in this, it was helped by the mighty incoming data in the form of ADP and NFP data which came in stronger than expectations. The puff along with waited in anticipation of the rate hike from the Fed bearing in a mind-door week and furthermore news vis--vis subsidiary rate hikes subsequent to year.

    Looking ahead to the coming week, we have the FOMC rate avowal by now the rates are conventional to be hiked and we after that have the PPI, CPI, and retail sales data from the US. All of these would be ended ahead of the holiday season in the US and should guarantee volatility in the pair. We can, in addition, to expect the Brexit process to hog the headlines in Europe and we have the BOE rate flyer as skillfully along once the monetary policy summary. A jam-packed and volatile week ahead!

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  4. #44


    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) 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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  5. #45


    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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