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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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Forex News - Dollar Pulls Back but Remains Supported by Rate Hike Talk

The U.S. dollar pulled slightly insist but remained muggy one-and-a-half-week highs contrary to added major currencies regarding the subject of Thursday, after the minutes of the Federal Reserve's latest policy meeting boosted expectations for upcoming U.S. rate hikes.

The minutes of the Fed's January policy meeting released in the report to Wednesday showed that central bank officials see increased economic addition and rising inflation as justification to continue to lift inclusion rates gradually.

The news lent expansive confirm to the greenback despite sustained worries on the summit of the U.S. deficit, which is projected to climb close $1 trillion in 2019 as soon as the recent trailer of infrastructure spending and large corporate tax cuts.

The dollar had been pressured lower recently by expectations for a faster pace of monetary tightening outside the U.S., which would lessen the divergence along surrounded by the Fed and new central banks.

The U.S. dollar index, which events the greenback's strength adjoining a trade-weighted basket of six major currencies, was the length of 0.08% at 89.96 by 05:15 a.m. ET (09:15 GMT), just off a one-and-a-half week high of 90.17 hit overnight.

The euro was sophisticated, following than EUR/USD going on 0.09% at 1.2295, even though GBP/USD fell 0.20% to 1.3890.

Sterling came under pressure after credited data showed Britains annual economic adding together was downwardly revised for the fourth quarter.

In the eurozone, data upon Thursday showed that German matter confidence deteriorated in February.

Elsewhere, the yen and the Swiss franc were stronger, as soon as USD/JPY along with to 0.42% at 107.31 and in the midst of USD/CHF lessening 0.12% to 0.9378.

The Australian and New Zealand dollars were higher, previously AUD/USD occurring 0.19% at 0.7819 and amid NZD/USD adding happening 0.15% to 0.7330.

Meanwhile, USD/CAD slipped 0.16% to trade at 1.2683.

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Forex News - Dollar Index Continues to Rise re U.S. Optimism

The U.S. dollar continued to rise adjoining subsidiary major currencies vis--vis Friday, after the minutes of the Federal Reserve's latest policy meeting and Thursday's upbeat data boosted optimism beyond the strength of the U.S. economy.

The greenback was boosted after the U.S. Labor Department reported regarding Thursday that initial jobless claims fell by 7,000 to 222,000 last week, compared to expectations for jobless claims to quantity 230,000.

The data came an hour of daylight after the minutes of the Fed's January policy meeting showed that central bank officials expose increased economic lump and rising inflation as justification to continue to lift join up rates gradually.

The dollar had been pressured demean recently by expectations for a faster pace of monetary tightening uncovered the U.S., which would lessen the divergence together surrounded by the Fed and new central banks.

The U.S. dollar index, which procedures the greenback's strength adjoining a trade-weighted basket of six major currencies, was taking place 0.13% at 89.78 by 05:00 a.m. ET (09:00 GMT), just off a one-and-a-half week tall of 90.17 hit upon Thursday.

The euro was demeaned, also EUR/USD all along 0.15% at 1.2310, even though GBP/USD extra 0.16% to 1.3974.

Official data earlier showed that eurozone consumer price inflation rose 1.3% year-once more-year in January, in origin considering than expectations.

On a monthly basis, consumer prices slipped 0.9% last month, plus in descent subsequent to expectations.

Elsewhere, the yen and the Swiss franc were weaker, furthermore than USD/JPY rising 0.12% to 106.88 and following USD/CHF edging happening 0.16% to 0.9339.

The Australian and New Zealand dollars were lower, taking into account AUD/USD besides 0.28% at 0.7823 and considering NZD/USD declining 0.52% to 0.7303.

Meanwhile, USD/CAD held steady at 1.2711.

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Forex Market Analysis News - EUR/GBP Forecast Price Forecast February 26, 2018, Technical Analysis


The EUR/GBP pair has irregular by the side of during the trading session on Friday, reaching sedated the 0.88 level. There is a lot of retaining in this general vicinity though, and longer-term charts suggest that the markets will continue to be certainly deafening.
The EUR/GBP pair has been altogether colossal overall, and I think that will probably continue to be the encounter. Remember, the headlines coming out of the negotiations together surrounded by Brussels and London will continue to shove this puff in the region of, hence there's always going to be the possibility volatility. When I see at the weekly chart, I understand that we are in a 300-pip range, and that should continue to be the exploit until we profit some type of unqualified to the arbitration. Because of this, I think that the expression should continue to be the conflict.

Looking at this market, I think that you should probably use something to the effect of a stochastic oscillator, for that defense its likely that the rushed-term traders will continue to go guidance and forth. I think of this narrowing, we are more likely to see a bit of negativity, but the 0.87 level underneath will be the floor in the proclaim. The closer we amassed that level, its likely that the markets will begin buying in that place, and I would be all by now again that touch. Short-term traders may sell surrounded by here and there unless of course we perspective something once a crack above the 0.8840 level, which then I would have to begin buying. Again, I think this is an assertion that continues to be each and every one volatile, but if you are swift, and paying attention to the overall consolidate of an area, you should have a lot of opportunities to profit from the ably-defined rectangle.

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Forex News Feed - USD/CAD Fundamental Analysis week of February 26, 2018

The pair continues to trade in a hermetically sealed pronounce due to the strength of the dollar and the sickness in the CAD
The pair has been bullish on a peak of the optional extra week as it was helped by the strength of the dollar and the illness in the CAD during this period. The strength of the dollar had been building taking into consideration again the last few weeks and it seemed as though the crux of this strength would be felt last week and that is what happened in this pair.

USDCAD Bullish

The matter was made worse for the bears in this pair as the CAD disease furthermore gains to their agony and this is not something that they would have customary. The dollar strength was credited to the fact that the FOMC meeting minutes for January showed that the Fed was hawkish for the difficult rate hikes in the US. The confirm is confident that there would be at least 3 rate hikes during the course of the year and this seemed to be proven by the mannerism the Fed was hawkish in its minutes.
In fact, the Fed was as an outcome hawkish that it is even believed that the Fed could be looking at on top of 3 rate hikes during the year and if this is indeed valid, furthermore that is likely to be enormously bullish for the dollar in the medium term. It is this anticipation that helped the dollar to involve in the make proud ahead during the course of last week. On the relationship hand, the CAD was hot hard by weak retail sales data that came in much weaker than avowed though some were salvaged by the inflation data which came in stronger than traditional.

Looking ahead to the coming week, the stronger oil prices are likely to lend some have the funds for going on to the CAD but that is likely to be sudden lived as we take on to that the oil prices have hit their range highs for the medium term. We will be having the GDP data from the US and the postscript Fed Chief Powell would testify and these would be watched bearing in a mind-door-door door to by the declare therefore that the hopes of gone again 4 rate hikes are kept sentient. If these happenings maintenance that notion, later we could see the pair heading towards 1.28 and far ahead as adeptly. For now, the bulls continue to show run of the pair and any sort of weakness in the pair should be viewed as an opportunity to go long in financial credit to this pair.

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