Forex Market Latest News

AUD/USD extends its falls towards the lowest levels to the fore at the forefront of January.
US data accumulation the US Dollar sophisticated.
The perplexing describe is bearish for the pair.

AUD/USD is trading on the subject of 0.7060, the lowest previously to come February 12th, following it hit 0.7050. A loss of that heritage will retrieve the admission to the lowest levels past to the lead January.

US data came out enlarged than declared. The adopt-looking ISM Non-Manufacturing PMI annoyance bearing in mind 59.7 points adjacent-door to 57.3 customary and far and wide away above 56.7 recorded in January. New Home Sales defied the downturn in housing and rose by 3.7% in December to 621K after 599K in November. And the IBD/TIPP Economic Optimism for March rose to 55.7 from 50.3 in February.

Earlier, the Australian Dollar was pressured by disappointing Corporate Profits figures and by low Chinese calculation happening forecasts, which stand at 6-6.5% in 2019.

The RBA left inclusion rates as declared and RBA Governor Phillip Lowe speaks, future upon, followed by the every one-important GDP notice.

USD/CAD had an uneventful week until Friday, when a soft GDP release out of Canada sent the pair sharply higher. Traders should keep an eye on the Bank of Canada rate announcement and employment data. As well, the annual budget could impact on the pair’s movement. Here is an outlook for the highlights of this week and an updated technical analysis for USD/CAD.


Canadian inflation fell to a 15-month low in January, with a 1.4% gain on an annualized basis. Gas prices have fallen for six successive months, dragging on inflation. Canada’s GDP in December declined 0.1%, missing the estimate of 0.0%. This marked a second straight decline and the third in three months. The weak economic data means that the BoC policymakers are unlikely to raise interest rates in the next few months.

Over in the U.S., Advance GDP, which was released a month late due to the government slowdown, showed a gain of 2.6% in Q4. Although this was weaker than the 3.4% gain in Q3, it was well above the estimate of 2.2%. The better than expected reading can be credited to strong consumer spending and business investment. The U.S. economy continues to perform well, with a strong expansion of 3.1% in 2018. Even with the strong GDP release, however, it’s unlikely that the Federal Reserve will veer from it dovish stance.

USD/CAD daily chart with support and resistance lines on it.

Ivey PMI:I Tuesday, 15:00. Ivey PMI fell to 54.7 in January, down from 59.7 a month earlier.
Annual Budget Release: Tuesday, Tentative. The Canadian Department of Finance publishes its annual budget, which includes forecasts for growth and inflation. Higher expectations could boost the loonie.
Trade Balance: Wednesday, 13:30. Canada continues to record monthly trade deficits. In November, the deficit ballooned to C$2.1 billion, marking a 6-month high.
BoC Rate Decision: Wednesday, 15:00. The BoC raised interest rates three times last year, but stayed on the sidelines in January and is likely to hold rates at 1.75% at the March meeting. Policymakers are unlikely to consider a rate hike until the economy produces stronger numbers.
Building Permits: Thursday, 13:30. The indicator tends to show sharp swings, making accurate forecasts a tricky task. In December, building permits jumped 6.0%, crushing the estimate of -0.9%.
Housing Starts: Friday, 13:15. Housing starts continue to slow down, falling to 208 thousand in January. Will the negative trend change in February?
Employment Data: Friday, 13:30. The economy created 66.8 thousand jobs in January, much higher than the estimate of 6.5 thousand. Will we see another strong release in February? The unemployment rate climbed to 5.8% in January,
Capacity Utilization Rate: Friday, 13:30. This measure of the industry provides the BOC insights on the level of slack in the economy. Utilization has been fluctuating in the mid-80s in recent quarters. After a drop to 82.6% in Q3,

*All times are GMT

The greenback was belittling as regards speaking Friday after data showed the U.S. economy single-handedly accessory 20,000 jobs in February, skillfully knocked out expectations, as the economy nears full employment.

The numbers lessening a polluted characterize of the health of the U.S. economy, as the unemployment rate dropped well along than acclaimed and wage inflation accelerated greater than forecasts.

The U.S. dollar index, which measures the greenback's strength adjoining a basket of six major currencies, drifting 0.35% to 97.285 as of 9:17 AM ET (14:17 GMT).

Meanwhile, trade tensions along with pro to a call a halt to in the dollar.

The U.S. and China have pushed encourage tentative plans for severity to sign a trade combination due to unresolved differences, raising doubts that the two will postpone their year-long argument, The Wall Street Journal reported.

The dollar declined neighboring door to the safe-port yen, once USD/JPY falling 0.2% to 111.68.

The loonie was future, considering USD/CAD the length of 0.19% to 1.3425 after data showed its economy added more jobs than venerated in February.

Elsewhere, AUD/USD increased 0.3% to 0.7032 though NZD/USD slipped 0.6% to 0.6794.

The pound was lower moreover than GBP/USD the length of 0.18% to 1.3058, as Prime Minister Theresa May said in a speech that no one knows what would happen if her Brexit concord is not passed through Parliament. The euro rose due to the weaker dollar, subsequent to EUR/USD going on 0.3% to 1.1230.

Offshore yuan (CNH) is losing altitude at press epoch, likely due to below-predict China's factory output data.
USD/CNH has printed session highs above the 200-hour MA, contradicting the bear flag scrutiny stated earlier this week.

USD/CNH, which was mildly bid into lead Asia, outstretched gains to the 200-hour counter to average (MA) in the last 60 minutes regarding the to the fore of a below-forecast China's factory output data.

The world's second-largest economy's industrial production increased 5.3 percent in the first two months of this year, the slowest pace of go ahead in 17 years, missing the forecast of 5.5 percent year-not far away and wide and wide off from the order of-year rise.

Both unqualified-asset investment and retail sales bettered estimates taking into account 6.1 percent and 8.2 percent rise, respectively, but, as a result, far, have fruitless to put a bid below the offshore yuan dispute rate (CNH).

USD/CNH is currently trading at 6.7138, representing a 0.20 percent profit upon the day. The pair clocked session highs above the 200-hour MA of 6.7164 a few minutes back press epoch.

Technically speaking, the pair's 0.20 percent profit has weakened the bearish view put tackle by the flag breakdown stated upon March 12.

AUD/USD Current price: 0.7110

US President Trump and Chinese Vice Premier to meet later today.
Data-light day focused on minor US employment figures ahead of Friday's NFP.

The AUD/USD pair retreated just modestly from Wednesday's high, holding at the upper end of its weekly range above the 0.7100 level. The macroeconomic calendar had nothing to offer during Asian trading hours, which exacerbated range trading across the FX board. Meanwhile, stocks trade mixed, without a clear trend there despite reported progress in US-China trade talks that should have kept the mood high. Later today, US President Trump will meet Chinese Vice Premier, and hopefully will give the markets some updates on the issue.

In Europe and the US, the macroeconomic calendar is quite light, with the US unveiling minor employment figures, relevant ahead of the Nonfarm Payroll report to be out Friday. So far, the country released March Challenger Job Cuts down to 60.587K in March from 76.835K in February. Coming up next are weekly unemployment claims for the week ended March 29, expected to print 216K vs. the 211K previous.

The pair retains a modest short-term positive bias, as in the 4 hours chart, it holds above all of its moving averages, which anyway remain directionless and confined to a tight intraday range, as technical indicators maintain their upward slopes above their midlines, with the Momentum at weekly highs and the RSI at around 54. The potential of a more relevant advance, however, is being limited by a stronger dollar, and Aussie buyers reluctant to push the pair far above the 0.7100 mark. The bullish case will be firmer only with a break above 0.7170, the top of the March/April range.

Support levels: 0.7090 0.7050 0.7010

Resistance levels: 0.7130 0.7170 0.7200

Be informed in the new forex app

According to the Polish Financial Oversight Commission (PFOC) in 2018 Polish traders lost over 151 million USD.

And if you divided that figure between the nearly 35 000 trading accounts that ended the year in red, it turns out that for the 12 month period a Polish trader has lost on average about 4400 USD.

Al in all 78.9 percent of all retail traders in the country lost money in 2018, marking a slight decrease form 2017 when 79.7 percent of all traders lost money, the PFOC data also shows.

more...

Switzerland's economic growth pace is set to slow sharply this year, but recover next year boosted by sporting events, the latest survey by the Organization for Economic Co-operation and Development, or OECD, showed on Monday.

more...

The pound reached the very best level in virtually seven months as traders stepped up bets on a win for the Conservatives in next week’s election.

The currency pushed higher than $1.30 Wed as polls show the ruling Tories holding their lead over Jeremy Corbyn’s left Labor Party. Sterling conjointly advanced against all major peers as U.S. President Donald Trump’s visit to the U.K. unpleated relatively swimmingly, defying speculation his presence may undermine Prime Minister Boris Johnson.

Investors see a Conservative majority on Dec. 12 because the most market-positive outcome, because it would enable Johnson to push his Brexit deal through Parliament in time for next month’s point in time and move to an ensuing section of talks with the European Union. Trump’s visit had been seen as a risk for the Conservatives, who face queries over however the National Health Service would fare in any future trade manage the U.S.

“With simply over every week to travel, sterling remains extremely influenced by the polls day-after-day, however, we may be seeing some relief that Trump didn't toss a bomb into the U.K. form of government throughout his remarks,” said Ned Rumpeltin, European head of currency strategy at Toronto-Dominion Bank. “A break higher than the October high at $1.3013 might open the door for a take a look at of $1.3185.”

The pound gained 0.4% to $1.3042, the very best since might 10. It rallied 0.3% to 85.05 pence per euro.

The U.S. dollar fell on Thursday, as mixed trade signals unbroken investors treed.

Earlier within the day, China reiterated its expectations that tariffs ought to be upraised as a part of a phase-one deal, when Bloomberg rumored on a weekday that U.S. officers expect a deal before the most recent spherical of Yankee tariffs takes impact on Dec. 15.

The news was an entire turnaround from comments from U.S. President Donald Trump earlier within the week. Trump said Tuesday that a deal might be created when the 2020 election, causing markets reeling.

The U.S. dollar index, that measures the greenback’s strength against a basket of six major currencies, slipped 0.2% to 97.458 as of 10:31 AM ET (15:31 GMT). The dollar was lower against the safe-haven Japanese yen, with USD/JPY down zero.1% to 108.75.

Elsewhere, the pound continued to rise because of confidence that the political party can win the final election on Dec. 12. GBP/USD gained zero.2% to 1.3129, whereas GBP/EUR rose zero.2% to 1.1853.

EUR/USD was up zero.2% to 1.1092, despite a recent call German manufacturing plant orders earlier within the day that time to a different weak quarter for the monetary unit zone's largest economy.

The dollar was edged slightly higher when information showed that Canada's deficit slightly narrowed in the Gregorian calendar month. USD/CAD fell zero.1% to 1.3184.

The U.S. dollar rallied on Friday as stronger-than-expected U.S. jobs gains last month reaffirmed beliefs that the economy remained on solid footing.

The U.S. dollar index, that measures the buck against a trade-weighted basket of six major currencies, rose by 0.35% to 97.75.

The U.S. created 266,000 jobs last month, topping economists' forecast of 186,000.

The percentage unexpectedly born to 3.5% and wage growth slipped to 0.2% in November, under expectations of 0.3%.

Following the stronger-than-expected jobs report, TD economists same the Federal Reserve System will sit well on the sidelines when cutting rates thrice this year.

"As long as international risks don't intensify and hurt confidence domestically, the Yankee economy can stay in growth, supported by a healthy client," the firm adscititious.

The euro, that was already stressed amid weaker German information, fell 0.45% against the buck to $1.105.

USD/JPY fell 0.12% to Y108.62, whereas USD/CAD jumped 0.67% to C$1.326, with the latter coming back stressed following a weaker-than-expected Canadian jobs report.

The plunge within the loonie comes amid reports that Bank of Canada governor writer Poloz is about to step down simply days earlier than the central bank's interest-rate call.

GBP/USD slipped 0.23% to $1.312, jettisoning a number of its gains earlier on, once the combine hit seven-month highs on bets that the Conservative Party within the U.K., led by Prime Minister Boris Johnson, would probably win a majority of the seats within the election.