Dollar Edges Lower on Fear of Government Shutdown
Friday, 19 January 2018 / Published in Daily Morning Report, Forex Daily News, Market News
Dollar edges lower on fear of government shutdown, something less common yet not impossible given the current political context in the US. As US policymakers were struggling to reach some consensus regarding the federal budget deal on Thursday, the collar around the dollar’s neck tightened on concerns that the global economic revitalisation would potentially outpace
AUDUSD at Head-n-Shoulders Risk on Weak China Retail Sales?
Thursday, 18 January 2018 / Published in Forex Daily News, Market News
AUDUSD is at risk at forming Head-n-Shoulders based on weak China retail sales data, traders say. Unmoved by upbeat releases, AUDUSD tracks low retail sales data. Despite the upbeat Chinese 4th quarter GDP, which arrived at 6.8% y/y bettering the 6.7% y/y estimate, AUDUSD faces the risk of forming Head-n-Shoulders, turning a blind eye to positive
BOC on Tap, CAD in View
Wednesday, 17 January 2018 / Published in Forex Daily News, Market News
BOC on tap, CAD in view on Wednesday! Will a rate hike follow? Before you jump ton answer that question, let’s have a look at the charts.The market reacted positively ahead of the BOC decision by pricing the temporary USDCAD sell-off to an extent of 80%. Analysts suggest that should BOC choose to wait considering
USD Trading on CPI
Friday, 12 January 2018 / Published in Forex Daily News, Market News
USD trading on CPI data on Friday has picked up pace! The Consumer Price Index (CPI-U) came in 0.1% higher in December. Let’s chart it up! Within the last year, the all items index increased 2.1 % before seasonal adjustment. At the same time, the housing index rose 0.4%, which accounted for nearly 80% of
Aussie Pips Up on Upbeat Data, EUR Poses Neutral
Thursday, 11 January 2018 / Published in Forex Daily News, Market News
Aussie pips up on upbeat data, while the EUR poses neutral ahead of the ECB monetary policy meeting minutes release. Will this status quo change? Aussie Adds Pips Capturing the limelight of Australia’s trade balance upbeat data, the Aussie pips up against its greenback counterpart. In the first hours of the morning, AUDUSD started impetuously
Pound Tracks Manufacturing PMI, Crude on High
Wednesday, 10 January 2018 / Published in Forex Daily News, Market News
Pound tracks manufacturing PMI, while crude moves higher on Wednesday following UK big economic releases. Let’s take a look at the figures! Manufacturing production represents about 80% of the UK’s total industrial production. According to the Office for National Statistics, the country’s manufacturing PMI came in at 0.4% m/m in November, against a 0.3% consensus
Loonie on the Rise Ahead of BOC Survey
Monday, 08 January 2018 / Published in Forex Daily News, Market News
Loonie on the rise ahead of BOC survey due later on Monday, which analysts anticipate it will reflect a positive economic outlook. The CAD continued to add pips as Canada’s December jobs report showed a significant drop in unemployment, which reached its lowest rate in more than 4 decades (5.7%). This positive figure pushed BOC
Dollar on the Rise on NFP Friday
Friday, 05 January 2018 / Published in Forex Daily News, Market News
Dollar on the rise on NFP Friday against major currencies, as bulls and bears alike, are eagerly awaiting the NFP release due later in the day. Following Thursday’s tightened collar against the dollar’s neck as mixed economic releases flooded the US market, on NFP Friday, things are starting to finally pick up again for the
Buck Sinks Despite Upbeat ADP Data
Thursday, 04 January 2018 / Published in Forex Daily News, Market News
Buck sinks despite upbeat ADP data just released, projecting that 250k jobs would have been added in the non-farming sector in the US in December. The upbeat figures fail to lift the USD against its six major peers, with the dollar index going down in the dumps in the area of 91.65-.60. Buck in the
EURUSD Still on the Upside ahead of ISM and FOMC Minutes?
Wednesday, 03 January 2018 / Published in Daily Morning Report, Forex Daily News, Market News
EURUSD still on the upside ahead of ISM and FOMC Minutes? So it seems, especially in Asia, the pair stumbled as sellers remained close to 1.2065s. At the same time, the EURUSD movement to the upside ahead of ISM and FOMC minutes was supported by a pause in the USD sell-off, while the most traded