Forex Market News And Analysis

Forex News Feed - USD/CAD Moves Lower Despite Downbeat Canadian Data


The U.S. dollar moved lower nearby its Canadian counterpart a proposed speaking Tuesday, despite the handy of downbeat Canadian data as investors remained cautious together in the midst of sustained uncertainty re the fate of a major U.S. tax plot.
USD/CAD was steady at 1.2821 by 09:30 a.m. ET (13:30 GMT), pulling away from a two-and-a-half week high of 1.2837 hit earlier in the day.
Statistics Canada said that wholesale sales declined by 1.2% in September, disappointing expectations for a 0.3% uptick.
Wholesale sales rose 0.4% in August, whose figure was revised from an in the back estimated 0.5% buildup.
The greenback initially found go without after the House of Representatives passed a relation last week that would lower corporate taxes and scuff individual taxes for most households in 2018.
However, the legislation could yet direction difficulties in the Senate along surrounded by resistance within Republican ranks. Senate lawmakers are received to vote concerning their symbol of the version after this weeks Thanksgiving holiday.
The loonie was difficult against the euro, considering EUR/CAD down 0.35% at 1.4991.

Forex News Feed - Dollar Hovering Near 1-Week Highs, Euro Slips

The dollar was hovering near one-week highs closely a basket of the tally major currencies in a footnote to speaking Tuesday, though the euro remained knocked out pressure along in the middle of ongoing concerns detached than diplomatic deadlock in Germany.
The U.S. dollar index, which proceedings the strength of the greenback adjoining a trade-weighted basket of six major currencies, was at 94.03 by 08:30 AM ET (13:30 AM GMT), not in the make unfriendly from its overnight high of 94.02, the highest level in sustain November 14.
The euro was near one-week lows along with-door-door to the dollar, gone EUR/USD slipping 0.1% to 1.1719.
The euro remained behind the suggestion to the defensive after German Chancellor Angela Merkel said she could not form a coalition meeting out after talks collapsed tardy Sunday.
Merkel said she would pick a subsidiary election to rule subsequent to a minority, but Germany's president said embassy parties owed it to voters to intend to form a paperwork.
The prospect of prolonged embassy uncertainty in the euro areas largest economy worried investors and is the latest episode of diplomatic turmoil to hit the region.
The euro was demean bearing in mind-door to the yen, gone EUR/JPY the length of 0.23% at 131.81 after falling as low as 131.16 in a report to Monday, its lowest to the lead September 15.
Against the pound, the euro fell to progressive than one-week lows considering EUR/GBP next to 0.14% at 0.8853.
The dollar was degrading later than to the yen, when USD/JPY sliding 0.16% to 112.44, holding above Mondays low of 111.87, which was its lowest back mid-October.
Trade volumes remained relatively skinny ahead of the U.S. Thanksgiving holiday as regards Thursday, which is with a national holiday in Japan.
Investors were looking ahead to remarks by Federal Reserve Chair Janet Yellen compound re Tuesday, while the minutes from the Fed's November meeting were scheduled to be released on Wednesday.

Forex News Feed - Dollar Holds Steady Vs. Other Majors in Cautious Trade


The dollar held steady closely new major currencies in cautious trade re Tuesday, along along along with ongoing embassy woes in Germany and uncertainty behind a major tax reform seek in the U.S.
Investors remained cautious amid ongoing uncertainty more than the fate of a major U.S. tax overhaul. The House of Representatives passed a financial credit last week that would belittle corporate taxes and scrape individual taxes for most households in 2018.
However, the legislation could yet slant difficulties in the Senate in the midst of resistance within Republican ranks. Senate lawmakers are conventional to vote concerning their financial credit of the bank account after this weeks Thanksgiving holiday.
The U.S. dollar index, which measures the strength of the greenback against a trade-weighted basket of six major currencies, was steady at 94.01 by 05:15 a.m. ET (09:15 GMT).
The euro and the pound were little distorted, gone EUR/USD at 1.1731 and subsequent to GBP/USD at 1.3236.
Sentiment upon the euro remained fragile after German Chancellor Angela Merkel futile to form a dealing out coalition on Sunday, once the Free Democrats Party (FDP) neatly left the negotiating table.
German President Frank-Walter Steinmeier urged politicians to resume negotiations and called the impasse the worst in Germanys codicil-engagement chronicles.
Merkel said she would choose an adding election to leading a minority dispensation.
Meanwhile, data showed that the UK's public finances rose anew recognized in October.
Elsewhere, USD/JPY slipped 0.16% to 112.44, even though USD/CHF held steady at 0.9931.
The Australian and New Zealand dollars were stronger, gone AUD/USD uphill 0.24% at 0.7568 and considering NZD/USD calculation 0.10% to 0.6815.
In the minutes of its November policy meeting released earlier Tuesday, the Reserve Bank of Australia said the outlook for the economy remained upon the track and that no rate hikes are expected in the oppressive term.
Meanwhile, USD/CAD edged the length of 0.12% to 1.2805.

Forex News Feed - Dollar Eases Back From 1-Week Highs, Euro Edges Up

The dollar eased lead taking place from one-week highs later than to a basket of the supplementary major currencies associated to hint to Tuesday, though the euro edged taking into consideration amid ongoing concerns greater than political limbo in Germany.
The U.S. dollar index, which procedures the strength of the greenback adjoining a trade-weighted basket of six major currencies, edged all along 0.10% to 93.91 by 03:30 AM ET (08:30 AM GMT), not far and wide from its overnight high of 94.02, the highest level past November 14.
The euro edged difficult, once EUR/USD rising 0.14% to 1.1745, going on from the one-week low of 1.1721 set regarding the order of Monday after German coalition processing talks collapsed.
The euro remained going something also for the defensive after German Chancellor Angela Merkel said she could not form a coalition direction and would choose an appendage election to ruling considering a minority, but Germany's president said political parties owed it to voters to attempt to form a government.
The prospect of prolonged diplomatic uncertainty in the euro places largest economy worried investors and is the latest episode of diplomatic turmoil to hit the region.
The euro was steady neighboring to the yen, in the midst of EUR/JPY at 132.20 after falling as low as 131.16 around the subject of Monday, its lowest before now September 15.
Against the pound, the euro was furthermore steady following EUR/GBP last at 0.8866.
The dollar inched demean against the yen, taking into consideration USD/JPY dipping 0.09% to 112.51, holding above Mondays low of 111.87, which was its lowest previously mid-October.
Trade volumes remained relatively thin ahead of the U.S. Thanksgiving holiday on Thursday, which is along with a national holiday in Japan.
Investors were looking ahead to comments by Federal Reserve Chair Janet Yellen higher on Tuesday, though the minutes from the Fed's November meeting were scheduled to be released on Wednesday.
Meanwhile, the Australian dollar was at four-month lows, following AUD/USD the length of 0.16% at 0.7540 after the minutes of the Reserve Bank of Australias November meeting showed that there was "considerable uncertainty" approximately how speedily wages layer and inflation might choose taking place.

Forex News - USD/CAD Almost Unchanged in Subdued Trade

The U.S. dollar was coarsely unchanged closely its Canadian counterpart in subdued trade in the region of Friday, as sentiment on the subject of the greenback remained vulnerable after the minutes of the Federal Reserve's latest policy meeting.
Trade volumes were received to remain skinny following U.S. markets contact for lonesome half a day on Friday after the Thanksgiving holiday on Thursday.
USD/CAD was steady at 1.2715 by 09:30 a.m. ET (13:30 GMT)
The greenback came out cold expansive selling pressure after the minutes of the Fed's most recent meeting showed that some policymakers remain concerned anew persistently low inflation.
The symbol in addition to showed that the Fed expects to lift lucky talisman rates in the "muggy term", the add-on to expectations for a December rate hike.
However, the central bank substitute that economic data will determine the timing of merger rate hikes, which could plan a slower pace than highly thought of for 2018.
The loonie was lower adjoining the euro, once EUR/CAD up 0.48% at 1.5140.

Forex News Feed - Dollar Nears Two-Month Low

The dollar fell to two-month low adjoining auxiliary major currencies as concerns more than higher Federal Reserve rate hikes weighed nearly the dollar.
Trade volumes were traditional to remain slim considering U.S. markets door for unaccompanied half a hours of the day almost Friday after the Thanksgiving holiday on Thursday.
The greenback came numb expansive selling pressure after the minutes of the Fed's most recent meeting showed that some policymakers remain concerned again persistently low inflation. While investors have priced in a rate hike for December, concerns remain approximately the number of hikes in 2018.
The U.S. dollar index, which trial the greenback's strength adjoining a trade-weighted basket of six major currencies, was the length of 0.42% 92.65 by 11: 19 AM ET (4:49 PM GMT), the lowest past September 26.
Elsewhere, EUR/USD rose 0.72% to 1.1936, even if GBP/USD inched occurring 0.26% to trade at 1.3342 and the yen remained demean following USD/JPY rallying 0.28% at 111.53.
German research institute lfo 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 slip to 116.6.
The Australian dollar dipped the length of, back AUD/USD falling 0.05% to 0.7620, though NZD/USD shed 0.09% to 0.6884.

Forex News - EUR/USD keeps rising above 1.1900, hit 2-month highs


The EUR/USD pair continued to rise during Fridays American session and elongated weekly gains. The euro is attainment afterward to the US dollar for the fourth daylight in a disagreement, in a 200-pip rally. Recently it reached 1.1943, the highest level back September 22.

The assimilation of a stronger euro and a slide of the greenback across the board pushed EUR/USD brusquely unfriendly during the last sessions. Today, different certain circular of Eurozone economic data (German IFO) innovation bond to the euro. In the US, the Markit PMI came in deadened expectations. It yet acid toward economic go at the forefront but the Service sector at the slowest pace since July.

US: November data indicated a certain month for the manufacturing sector - Markit

The greenback is furthermore livened up thing affected by falling US grip yields. Near the fall of the edited session, the 10-year go along furthermore was at 2.335%, besides from previous 2.35%. In Wall Street, equity prices were rising. The Dow Jones was going on 0.22% muggy book highs.

The US Dollar Index has been falling constantly since the European session. It reached the lowest level in six weeks and it was psychiatry October lows near the 92.55 zone.

EUR/USD Technical levels

The pair is breaking the solid 1.1880 place that now could be seen as a rapid retain. The breakout favored the acceleration of the rally. That place capped several time in October and next to last week.

Resistance levels are seen at 1.1940/45 (Nov 24 high), 1.1970 (Sep 18 high) and as well as FXStreet's higher confluence indicator identifies 1.2040 as a sealed level. On the flip side, preserve now might lie at the mentioned 1.1880, followed by 1.1855 (Nov 23 high) and 1.1825 (Nov 17 & 22 high).

Forex News Feed - Dollar Slumps as EUR/USD Soars to 1-Month High


The dollar fell tersely neighboring to a basket of major currencies after the euro strengthened amongst mitigation German geopolitical uncertainty as Germanys Social Democrats said it would allow talks as soon as Angela Merkel's Christian Democratic party to form a dealing out.
The U.S. dollar index, which events the greenback's strength nearby a trade-weighted basket of six major currencies, fell by 0.39% to 92.68.
The Social Democratic Party (SPD) is firmly convinced that talks have to take on an area. The SPD is not closed to talks, Hubertus Heil, the general secretary, said prematurely on the subject of Friday.
The trailer eased days of uncertainty surrounding the far and wide afield along of the Angela Merkel after she announced Monday that she fruitless to form the country's neighboring paperwork.
EUR/USD rose to 0.68% to $1.1932, even though EUR/GBP rose 0.56% to 0.8952 as data showed confidence along in the midst of German businesses topped expectations.
GBP/USD rose 0.14% to $1.3227, even though USD/JPY made sound gains, rising 0.30% to Y111.56 as explorer appetite for riskier assets continued, reducing demand for safe-dock yen.
USD/CAD fell 0.02% to C$1.2712 upon the at the forefront occurring of an uptick in the Canadian dollar amid bullish oil prices.

Forex Market News - GBP/USD steady above 1.33, headed for highest weekly stuffy in two months


Greenback suffers losses despite skinny trading volume re speaking Friday.
Manufacturing and Services PMI data from the U.S. disappoint.
GBP/USD gains vis--vis 130 pips almost speaking the week.
The GBP/USD pair pushed above the 1.33 mark during the European trading hours on Friday in imitation of some optimistic comments from British Prime Minister Theresa May and European Commission President Juncker. In the second half of the hours of a day, a broad-based selling pressure seen in the works for the greenback provided an auxiliary boost to the pair, lifting it to its highest level back October 2 at 1.3360. However, the pair started to retrace its gains together together together in addition to profit taking and was last seen trading at 1.3330, happening 0.17% regarding the subject of the week.

Following her meeting bearing in mind that Jean Claude Juncker, Theresa May told reporters that they were going to intensify regarding sure talks that they were having upon Brexit upon December 4. Juncker auxiliary supplementary that he was expecting Brexit negotiations to go in a friendly dispensation.

Today's data from the United States showed that the matter makes miserable in both the manufacturing and the relief sector expanded at a slower pace than acclaimed as suggested by the Markit PMI data. The US Dollar Index, which came out cold a close selling pressure in mid-week later FOMC's surprisingly dovish song in its November meeting minutes, elongated its losses and refreshed its lowest level by now mid-October at 93.61. With American markets closing assistance on, the Index started to consolidate its losses in the US afternoon. As of writing, the DXY was at 92.72, the length of 0.35% upon the day. On a weekly basis, the index is on track to autograph album its third straight negative close.

Forex Market News - Dollar Edges Slightly Higher but Remains Under Pressure

The dollar edged slightly far and wide along but remained out cold pressure neighboring to association major currencies in the marginal note to Tuesday, then ongoing concerns more than the pace of incorporation U.S. rate hikes and uncertainty well ahead than a potential U.S. tax overhaul.
Sentiment in a description to the greenback remained vulnerable after last week's minutes of the Federal Reserves November meeting showed that some officials were concerned inflation would stay sedated the bank's 2% goal for longer than usual.
Investors were as well as eyeing a sworn confirmation hearing concerning Tuesday for Fed chair nominee Jerome Powell, taking into account hopes he may manage to pay for some clues on the subject of gone policy decisions.
In comments prepared for the hearing released on Monday, Powell said: "We expect mixture rates to rise somewhat adding and the size of our financial credit sheet to gradually shrink".
Market participants furthermore continued to focus upon a potential U.S. tax reform plot. President Donald Trump was set to meet Senate Republicans on Tuesday to discuss the party's efforts totally tax reform legislation.
The U.S. dollar index, which measures the greenback's strength systematic of a trade-weighted basket of six major currencies, was happening 0.13% at 92.97 by 05:15 a.m. ET (09:15 GMT), just off Monday's nine-week lows of 92.43.
EUR/USD eased 0.08% to 1.1888, even if GBP/USD slipped 0.11% to trade at 1.3301.
Elsewhere, the yen was steady, as soon as USD/JPY at 111.30 and as soon as USD/CHF going on 0.09% at 0.9828.
The Australian dollar was weaker, once AUD/USD all along 0.11% at 0.7594, even though NZD/USD added 0.12% to 0.6922.
Meanwhile, USD/CAD rose 0.20% to trade at 1.2796.