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This is a discussion on Forex Analysis and News within the Analytics and News forums, part of the Trading Forum category; Forex News Feed - GBP/USD bulls challenge the 1.3600 handle as US Dollar retreats from highs All eyes went hint ...

      
   
  1. #171
    Senior Member fxmarketanalysis's Avatar
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    Forex News Feed - GBP/USD bulls challenge the 1.3600 handle as US Dollar retreats from highs

    All eyes went hint to Bank of Englands Super Thursday.
    The US dollar is upon the facilitate foot as the US withdrawal from the Iran nuclear arrangement weighs upon the greenback.
    The core US Producer Price Index (PPI) came in sedated expectations at 2.3% in April.
    The GBP/USD is trading at nearly 1.3593 happening 0.34% upon Wednesday as investors are slowly unwinding their hasty GBP/USD positions ahead of the Bank of England rate decision and quarterly Inflation Report upon Thursday.

    Cable bulls gathered some proceed and managed to orchestrate a counter-trend work up from the 1.3500 handle earlier in the European session to challenge the 1.3600 handle in the American session.

    The US dollar is trading lower on Wednesday under the 93.00 mark as investors are taking some profits off the table after US President Trump announced on Tuesday that he withdrew the US from the Iran nuclear negotiation. Adding pressure to the greenback is the worse-than-traditional Producer Price Index (PPI) data. The PPI ex Food and Energy year-upon-year to April came asleep expectations at 2.3% adjoining 2.4% predicted by analysts.

    Technically, the GBP/USD is oversold and there is a combination of unwinding terse positions and bottom pickers which is keeping the cable in the 1.3500-1.3600 range. The Bank of Englands Super Thursday will possibly have enough maintenance investors more details as to then the adjacent rate hike will be coming adjacent and manage to pay for GBP some directionality.

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  2. #172
    Senior Member fxmarketanalysis's Avatar
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    USD/CAD stabilizing out cold 1.2800 handles after the 70-pip boost

    The election in Iraq can benefit from oil production disruption.
    USD/CAD bounces subsequent to the suggestion to the subject of weaker Canadian employment data, but the "marginal note is not that bad" an analyst says.
    The USD/CAD is trading at approaching 1.2786 taking place 0.18% concerning Friday.

    The Loonie started the hours of daylight in Asia rather flat and European traders brought the pair the length of to the 1.2730 level. In the American session, the Canadian employment data came knocked out estimates and the USD/CAD got a 70-pip boost and flirted back the 1.2800 resistance. The bet is now consolidating under the 1.2800 handle.

    The Canadian dollar strengthens this week as it was boosted by oil prices. On Tuesday, US President Donald Trump made an certified poster in which he said that the US was withdrawing from the current Joint Comprehensive Plan of Action, more commonly known as Iran nuclear unity. Trump said that the US was planning to impose harsher sanctions on Iran which is one of the biggest oil producers. The news was bullish for unprofessional oil because political tensions can gain an oil supply squeeze from Iran. According to analysts, 300,000 to 500,000 barrels of oil per hours of the day can be at risk.

    Meanwhile, the election in Iraq this Sunday can potentially disrupt oil production and for that excuse boost slipshod prices. Plans for expanding the country's oil production carrying out could, in addition, to be affected by the fiddle considering of meting out, including the South Integrated Project managed by Exxon and PetroChina, which would be instrumental in allowing Iraq to boost production to 8 million bpd in the once, says Irina Slav from Divergente LLC. Iraq is OPEC's second-largest oil producer, for that defense any political shifts in the country will have a take in hand and palpable effect upon oil prices, she next said.

    Earlier in the hours of daylight, the Canadian Unemployment Rate in April came in-origin subsequently analysts expectations even though the Net Change in Employment in April came below expectations at -1.1K adjacent to 17.4K predict by analysts. The Participation Rate came slightly below estimates at 65.4% hostile to 65.5% received.

    Interestingly Krishen Rangasamy from National Bank of Canada says that The April employment fable is not as bad as it looks pointing out that the soft headline number doesn't necessarily try Canada's labor manner is struggling. Adding that a colder-than-comfortable April may have temporarily treated badly hiring in some sectors. The disorder was furthermore largely due to declines in self-employment and the public sector. But more importantly, private sector employment rose by the biggest amount past November of last year. The analyst concluded by saying the April jobs description does nothing to regulate our view that the labor state remains tight and will continue to fuel inflation pressures this year. As such, we continue to call for a July magnetism rate hike from the Bank of Canada.

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  3. #173
    Senior Member fxmarketanalysis's Avatar
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    Forex Analysis - EUR/USD Fundamental Analysis week of May 14, 2018

    The pair has rebounded from the bond region at 1.18

    The EURUSD pair the invalidate the week not far and wide off from a hermetically sealed note after dropping furthermore to the 1.18 region where it has past found a lot of preserve. The pair has been practiced to rebound from that region towards the middle of the week and closed the week richly above the 1.19 region.

    EURUSD Rebounds from 1.18

    We cannot visualize this as a quantity recovery of sorts but have to view this as unaided a correction of the downtrend in the market that has been going upon for the association 2 weeks. The downtrend had been brought just roughly by the strength of the dollar which has been picking occurring of late. The dollar strength can be credited to the growing anticipation of rate hikes from the US and plus the slip in the pair has been due to the expectation that the QE is likely to continue for longer than what was originally era-privileged by the traders and the investors. Towards the center of last week, the dollar strength had reached deafening proportions and the dollar bears were looking for some abet from somewhere. That came in in the form of the inflation data from the US which missed the expectations of the verify. It came in weaker and this was further than the markets were expecting and this has past helped the pair to rebound from the 1.18 region. But as long as the pair is out cold the 1.20 region, we can by yourself see at this modify as a correction and now a revise of the trend as still.

    Looking ahead to the coming week, we have the retail sales data from the US which is the 3rd most important fragment of data from the US after the NFP and the CPI data. The server would be hoping that there would be some solid piece of data at least in the retail sales as the incoming data from the US has been quite tame anew the last few weeks and we don't think that the dollar strength would be able to continue for much longer if this continues. The coming week would with see a speech from Draghi which would be noted for any subsidiary hints about the QE and its tapering.

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