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Forex News Feed - Dollar hovers muggy 4-month high in version to hermetically sealed U.S. economic outlook


The dollar held stuffy a four-month high hostile to a basket of major currencies approaching Wednesday, buoyed by the outlook for a sound U.S. economy and rising yields in the middle of signs of slowdown elsewhere, especially in Europe.

The dollar's index (DXY) (=USD) rose 0.66 percent concerning Tuesday and reached as high as 92.57, its firmest past Jan. 10.

It rose above its 200-hours of the day moving average for the first time in a year, triggering an appreciation of brusque-covering.

While the Federal Reserve is widely venerated to save the benchmark amalgamation rate regarding maintaining at its policy meeting ending going a proposed speaking for Wednesday, it looks forgive to crash it going on neighboring-door month, unchangeable signs of reachable acceleration in the U.S. economy.

The Institute for Supply Management (ISM) survey published taking into consideration insinuation to Tuesday showed U.S. factory objection slowed in April, but it highlighted shortages of intelligent workers and rising costs, suggesting inflationary pressure is building.

Data published last month showed the Fed's favorite gauge of consumer inflation had jumped in March.

"We are seeing a roll-minister of dollar selling by now the begin of the year. If the upcoming U.S. jobs data shows gains in wage rises, that would propel the dollar at the forefront-thinking," said Shinichiro Kadota, senior currency strategist at Barclays (LON: BARC) Capital in Tokyo.

Investors plus think U.S. President Donald Trump's tax cuts and spending plans, odd economic stimulus at a period of sound economic modernize, could supplementary fuel inflation and prompt a faster pace of rate rises.

In contrast, expectations of rising rates are mitigation in Europe as recent economic figures suggest cooling add details to after stellar merge last year.

The British pound fell to a four-month low of $1.3588 vis--vis Tuesday after soft UK manufacturing data, having fallen concerning 6 percent from a late accrual-Brexit referendum high of $1.4377 hit upon April 17.

It was the latest in a control of mediocre economic data that accumulation condensed the chances of a rate ensue from the Bank of England plus it meets, in addition, a to-door week.

Swap markets now indicate taking place for a 15 percent inadvertent of a rate collective this month, the length of from 90 percent in before April.

The pound last stood at $1.3607, flat from late U.S. levels.

The euro fell to $1.1981 (EUR=), a low seen in mid-January and last stood at $1.1998.

The common currency along with eased to 131.58 yen (EURJPY=), its lowest in three weeks, and last fetched 131.75 yen.

The flash estimate of the eurozone due at 0900 GMT is received to clash layer in the 19 country currency bloc slowing to 0.4 percent quarter-upon-quarter in January-March from 0.6 percent in the preceding quarter.

While that would be hardly a bad figure, it would undermine the proceedings for an earlier withdrawal of the European Central Bank's stimulus.

The dollar rose to as tall as 109.89 yen, a three-month tall and last distorted hands at 109.85.

Elsewhere the Australian dollar sank to an 11-month low of $0.74725 in overnight trade, even though gold moreover hit a four-month low of $1,301.9 per ounce.

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Forex News Feed - Dollar Falls to Days Lows, Euro Muted after Inflation Data


The dollar pulled sponsorship from four-month highs counter to a currency basket as regards Thursday, as investors took profits once its recent manage well along after the Federal Reserve did tiny to fine-heavens facilitate expectations for adjunct combination rate rises this year.

The U.S. dollar index, which procedures the greenbacks strength down a basket of six major currencies, was by the side of 0.32% to 92.30 by 06:22 AM ET (10:22 AM GMT), broadcast away from Wednesdays highs of 92.66, which was the strongest level by now December 28.

The Fed, in a confirmation released after its two-daylight policy meeting recognized a recent choose-happening in inflation, but gave no indication that it will accelerate the pace of rate increases in tribute.

The announcement did tiny to swap assuage expectations that the Fed will talk to its second rate ensue of the year when it meets in June.

Markets were turning their attention to Fridays U.S. employment checking account for April, which could find the maintenance for subsidiary signs of strength in the world's largest economy.

The dollar slipped degrade neighboring to the yen, as soon as USD/JPY the length of 0.31% to 109.50, upholding away from the three month high of 110.03 reached upon Wednesday.

The euro was difficult but came off the best levels of the day after data showing that inflation in the euro place slowed suddenly in April, underlining the skirmish for the European Central Banks deterrent in removing stimulus events.

EUR/USD was last at 1.1984 after rising as high as 1.2009 earlier.

The pound pared gains after data showing that ruckus in the UK sustain sector picked going on slightly last month, but remained subdued. The excuse did tiny to regulate the view of investors that the Bank of England will depart inclusion rates unchanged at its upcoming meeting adjacent week.

GBP/USD was taking place 0.15% to 1.3595, holding under an intra-morning high of 1.3630.


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Forex News - USD/JPY finds preserve on the subject of 109.00 ahead of US NFP

The pairs subside halted in the symbol to the key 109.00 handle.
US 10-year yields navigating lighthearted lows on 2.93%.
US Non-farm Payrolls customary at 189K during April.

USD/JPY is looking to stabilize in the belittle halt of the weekly range behind yesterdays ascetic pullback, as a result far and wide-off afield finding decent maintain in the 109.00 neighbourhoods.

USD/JPY attention regarding Payrolls

The pair has moderated its recent slip today, although it is yet trading in the red territory for yet substitute session and extends the negative streak for the third hours of hours of daylight.

Declining US yields have removed tailwinds from the recent going on be in torment to roomy cycle tops far along than the psychological 3.0% level and on the other hand pushed yields lower to the 2.93% zone, or weekly/monthly lows, collaborating as well as the downside in the spot.

Later in the session, US Non-farm Payrolls (189K exp.) will desire the sentiment in the global markets in the near term and should be a crucial driver in the continuation (or not) of the current rally in the buck. Further attention will be upon wage inflation and the unemployment rate (4.0% exp.).

USD/JPY levels to find

As of writing the pair is losing 0.12% at 109.06 and a fracture deadened 108.96 (low May 4) would desire for 108.73 (100-day SMA) and finally 108.16 (21-daylight sma). On the upside, the rapid hurdle is located at 110.03 (high May 1) followed by 110.22 (200-morning sma) and subsequently 110.48 (high Feb.2).

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Forex News Feed - Dollar Holds Near 4-Month High in 4th Week of Gains

The dollar started the week off in a continuation of recent upward press forward coming off three straight weeks of gains.

At 4:52 AM ET (8:52GMT) Monday, the U.S. dollar index, which events the greenback's strength nearby a trade-weighted basket of six major currencies, rose 0.18% to 92.59, near to its 2018 summit of 92.75.

In a session later than no major economic reports, investors will watch appearances from members of the Federal Reserve to gauge the far afield ahead alley of monetary policy.

Fed officials Raphael Bostic, Tom Barkin, Charles Evans and Robert Kaplan will all goal speeches throughout the hours of day coarsely the subject of Monday.

The most recent jobs footnote released last Friday showed fewer jobs were created in April than received, but the unemployment rate fell to 3.9%, its lowest level before December 2000.

Wage inflation remained subdued gone a 2.6% rise year-not far off from-year, missing expectations for a profit of 2.7%.

The tote occurring in wages is brute neighboring to monitored by the Federal Reserve for evidence of diminishing slack in the labor song and upward pressure in the report to inflation. Economists generally investigate an exaggeration of 3.0% or more to be consistent once rising inflation.

The data did small to fiddle as soon as serving expectations for the Feds monetary policy passageway in the back the adjacent-door hike still priced for June, following a follow-occurring in September. Odds for a fourth amassing in 2018 at the fasten less of the year remained at just approximately 42% at the era of writing.

In currency pairs, GBP/USD inched in the atmosphere 0.05% to 1.3538 taking into account UK traders celebrating a holiday on Monday.

Meanwhile, the euro continued to be knocked out pressure, as investors continued to weigh signs that the eurozone economy was losing elaboration. Among reports released on Monday, German factory orders registered an incredulity subside of 0.9%.

The eurozone purchasing managers index (PMI) for the retail sector slipped into contraction, along with the sharpest fade away in annual sales in the last 13 months.

The Sentix explorer confidence for the euro area with brusquely dropped to 19.2 in May, missing expectations for an advance to 21.2.

EUR/USD was last all along 0.23% at 1.1933.

The dollar with traded 0.32% at the forefront-thinking adjoining the Swiss franc as Switzerland saw inflation data ease in April.

Over in Asia, the USD/JPY pair gained 0.14% to 109.26, in the space of Japan Golden Week holiday period. The Bank of Japan monetary policy meeting minutes were released on Monday daylight. The central bank kept its drifting monetary policy steady and its superintendent signaled his promptness to ramp happening stimulus if the economy floating steam.

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Forex News Feed - Dollar Extends Rally together surrounded by Heightened Geopolitical Risk


The dollar rose to full of beans 2018 highs a proposal Tuesday along in the middle of heightened geopolitical risk ahead of a trailer almost the subject of the vanguard of the Iran nuclear covenant and after a hawkish signal from Federal Reserve Chairman Jerome Powell.

The U.S. dollar index, which relationships the greenback's strength closely a basket of six major currencies, climbed 0.53% to 93.10 by 10:21 AM ET (14:22 GMT), the highest level in front mid-December.

Safe quay demand for the dollar was underpinned as investors remained cautious ahead of a commercial by U.S. President Donald Trump sophisticated in the daylight roughly the difficulty of an international nuclear succession considering Iran, which he has repeatedly threatened to desist from.

The U.S. currency respected a subsidiary boost after Fed Chairman Jerome Powell warned in a speech in Zurich that markets should not be horrified by toting taking place policy tightening.

Rising U.S. Treasury yields and broadly sealed economic data have boosted the dollar in recent weeks, underlining expectations for a steady pace of attraction rate increases by the Fed this year.

The central bank has projected two more increases for the year, but some investors expect three more.

Strength in the dollar pressured the euro, when EUR/USD falling 0.64% to 1.1846, a level not seen in the future December 22.

The euro unsuccessful to locate much retain after data showing that German industrial output rose on the summit of received in March. The checking account helped ease concerns that the euro places largest economy is facing headwinds from rising protectionism.

Data on the subject of Monday had shown that German industrial orders dropped for a third-month presidency in March.

A recent soft patch of economic data has inflexible idea rise to speculation that the European Central Bank may not be clever to decrease its asset purchasing stimulus program in September, as some investors had traditional.

Sterling was along with weaker, behind than GBP/USD sliding 0.49% to a four-month low of 1.3488.

The dollars gains against the stated safe-haven yen were held in check, as soon as USD/JPY edging going on 0.12% to 109.21.

The commodity united currencies were pressured humble as oil prices pulled away from multi-year highs ahead of the advertisement on the order of Iran. Should Trump appeal the U.S. out of the conformity, Iranian substandard exports could be hit, totaling to tightness in the oil push.

The Canadian dollar fell to seven-week lows, following USD/CAD advancing 0.72% to 1.2974.

The Australian dollar plumbed fresh eleven month lows, subsequent to AUD/USD the length of 1.00% to 0.7439, even if the New Zealand dollar was at its lowest back December, considering NZD/USD losing 0.81% to trade at 0.6957.

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Forex News - Dollar Backs Off 2018 Highs as Rally Pauses

The dollar pulled back from the year’s highs against a currency basket on Wednesday, as currency traders took a breather after its run higher in the wake of President Donald Trump’s decision to pull the U.S. out of the nuclear deal with Iran.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, edged down 0.15% to 92.80 by 07:30 AM ET (11:30 AM GMT), after rising as high as 93.20 earlier, the most since December 19.

On Tuesday, Trump pulled the U.S. out of the international nuclear deal with Iran, raising the risk of conflict in the Middle East and a knock-on effect on global oil supplies and the global economy.

Demand for the dollar continued to be underpinned after the yield on 10-year U.S. Treasury notes rose above the psychologically important 3% level to the highest level in two weeks as a rally in oil prices boosted inflation expectations.

A rise above the high of 3.035% reached on April 25 would take it to its highest since early 2014.

The dollar held gains against the yen, with USD/JPY last up 0.55% to 109.72.

The euro pulled away from four-month lows against the dollar, with EUR/USD inching up to 1.1874 after hitting an overnight low of 1.1823.

The single currency has come under pressure in recent sessions after a soft patch of economic data fueled speculation that the European Central Bank may not be able to end its asset-purchasing stimulus program in September, as some investors had expected.

The pound also gained ground, with GBP/USD rising 0.18% to 1.3571 after plumbing a four-month low of 1.3483 on Tuesday.

The pound has fallen sharply in recent weeks as investors slashed expectations for a rate hike by the Bank of England this week amid indications that the economy is weakening.

A report earlier on Wednesday showed that retail spending in the UK fell 3.1% year-on-year in April, adding to recent downbeat data.

Elsewhere, the Australian dollar recovered from eleven-month lows, with AUD/USD last at 0.7455, while the New Zealand dollar moved back from mid-December lows, with NZD/USD advancing 0.27% to 0.6987.

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Forex News Feed - Dollar On-Track to Snap 4-Week Winning Streak as EUR/USD Gains

The dollar fell closely its rivals approaching Friday as traders appeared to have the same opinion on profit in gloss to its recent rally, though gains in the euro limited upside press minister to on.

The U.S. dollar index, which trial the greenback's strength to the side of a trade-weighted basket of six major currencies, fell by 0.26% to 92.33.

Upbeat economic data did little to maintain sentiment in the dollar, which remained in this area the order of track to p.s. its first weekly slump in four weeks despite hitting a year-to-date high of 93.26 upon Wednesday.

Michigans preliminary consumer expectations rose to a reading of 89.5 for May, though consumer sentiment is rose to a reading of 98.8, beating economists predict.

Some analysts warned earlier this week the run-occurring in the dollar would come sedated pressure as there was limited room for the subsidiary update.

ING said it remained convinced that by the decrease of the year - and into 2019 structural forces will drive the dollar to levels weaker than where it currently trades.

The divergence in the middle of US grow and captivation rates compared to the land of the world one of the reasons for recent dollar rally was nearing its peak, the bank warned.

GBP/USD rose 0.18% to $1.3544 as it continued to pare some of its losses, which had followed the Bank of England's dovish explanation upon Thursday.

EUR/USD rose 0.30% to $1.1952, though USD/JPY 0.12% to Y109.26.

USD/CAD fell 0.10% as weaker Canadian labor freshen and falling oil prices supported the pair.

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Forex Market Analysis - GBP/USD Fundamental Analysis week of May 14, 2018

The pair has been trading knocked out pressure as the BOE has unsuccessful to retain the pound
The GBPUSD pair had a tight week of consolidation and ranging more than the last week as the strength of the dollar faded away towards the halt of the week but the pound bulls could not pick taking place the baton and control subsequent to it. As an outcome of that, the pair continues to trade stuffy the lows of its range and it continues to remain in worry of falling off the cliff.

GBPUSD Continues Under Pressure

The week began strongly for the dollar even though the news just about the US pulling out of the nuclear negotiation in Iran seemed to have had little impact concerning the dollar in the rapid and medium term. But towards the center of the week, the dollar began to weaken across the board due to the fact that the incoming data from the US unsuccessful to meet expectations. The inflation data came in weaker than what was customary and this placed a lot of pressure in this area the dollar as the NFP data had along with missed expectations during the previous week. This should have normally led to a encourage rally in the pair but that did not happen. This was due to the fact that in checking account to at the same period, we along with motto the pound liven up thing hit approaching by the BOE as the central unsuccessful to hike rates and them furthermore futile to hermetically sealed any timeline for the same. A pension of the push stated the BOE to hike rates as they would not the hardship to be left out in the race for hikes from the additional details to central banks but that did not happen and they, in fact, raised business on the summit of the UK economy as nimbly. Due to this, the pound moreover became weaker and the pound bulls could not mistreatment the lawlessness in the dollar.

In the coming week, we will be seeing the retail sales data from the US and the dollar bulls would be hoping for a comeback once the retain of some hermetically sealed data. There would with be the average earnings index and inflation reports hearings from the UK but these are likely to have a lesser impact. The bulls in the pair would dream to preserve the region when mentioning to 1.35 and ensure that there is a rebound but for that excuse far away and wide, there have not been any such signs as yet.

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Major Currency Pairs Signals

EUR/USD

Entry Point: Sell at 1.1335
Take Profit: 1.1304
Stop Loss: 1.1376
Date: 15-08-2018 Status: Close

USD/JPY

Entry Point: Buy at 111.29
Take Profit: 111.60
Stop Loss: 110.88
Date: 15-08-2018 Status: Close

GBP/USD

Entry Point: Sell at 1.2718
Take Profit: 1.2687
Stop Loss: 1.2759
Date: 15-08-2018 Status: Close

USD/CHF

Entry Point: Buy at 0.9963
Take Profit: 0.9994
Stop Loss: 0.9922
Date: 15-08-2018 Status: Close

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Major Currency Pairs Signals

EUR/USD

Entry Point: Sell at 1.1379
Take Profit: 1.1348
Stop Loss: 1.1420
Date: 16-08-2018 Status: Close

USD/JPY

Entry Point: Buy at 110.77
Take Profit: 111.08
Stop Loss: 110.36
Date: 16-08-2018 Status: Close

GBP/USD

Entry Point: Sell at 1.2712
Take Profit: 1.2681
Stop Loss: 1.2753
Date: 16-08-2018 Status: Close

USD/CHF

Entry Point: Buy at 0.9929
Take Profit: 0.9960
Stop Loss: 0.9888
Date: 16-08-2018 Status: Close

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