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  1. #51
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    Forex Market News - Dollar Little Changed as U.S. Tax Vote Eyed

    The dollar was fluctuating along surrounded by small gains and losses neighboring to a basket of the auxiliary major currencies on the subject of Thursday as investors awaited a conventional vote upon the U.S. tax checking account taking into consideration in the hours of a day.
    The U.S. dollar index, which measures the greenback's strength adjoining a trade-weighted basket of six major currencies, was at 93.76 by 03:40 AM ET (08:40 AM GMT), after having fallen as low as 93.31 upon Wednesday, its weakest level to the lead October 26.
    The dollar found some maintain after Politico reported that House Republicans are confident they have the votes to calculation a gigantic rewrite of the U.S. tax code standoffish Thursday.
    The vote is period-lucky at an 11:30 AM ET closed-log on meeting in the Capitol.
    But concerns gone again the alleyway of the tax goal persisted after two Republican lawmakers on Wednesday criticized the report.
    The dollar was in addition to boosted after data on Wednesday showed an uptick in underlying U.S. inflation and retail sales, supporting the suit for a December rate hike by the Federal Reserve.
    Annual core inflation rose to 1.8% in October after having stayed at 1.7% in the preceding five months. Retail sales increased 0.2%.
    The euro was steady adjoining the dollar, taking into account EUR/USD last at 1.1788, off Wednesdays one-month highs of 1.1859.
    Sterling was along with tiny changed, along with GBP/USD at 1.3165.
    The dollar pushed far afield ahead against the yen, following USD/JPY rising 0.21% to 113.12.
    Meanwhile, the Australian dollar was hovering unventilated five-month lows, behind AUD/USD at 0.7596 after domestic employment data showed that jobs adding going on together strengthened in October but wage buildup remained sluggish.
    The New Zealand dollar was degraded, later NZD/USD the length of 0.23% to 0.6857.

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  • #52
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    Forex Market News Feed - USD/JPY enters a bearish consolidation phase muggy 4-week lows

    US political jitters prompt light selling.
    JPY profit a subsidiary boost from deteriorating risk appetite.
    US housing assist data might child support some impetus.

    The USD/JPY pair maintained its offered look through the mid-European session and now seems to have entered a consolidation phase close mid-112.00s, or 4-week lows.

    Against the backdrop of the ongoing uncertainty more than the fate of a major US tax reform strive for, the latest shape to the fore once again the psychotherapy into Russian interference in the 2016 US Presidential election prompted some well-ventilated selling pressure concerning the US Dollar in version to Friday.

    As reported by the Wall Street Journal, the special reference Robert Mueller had issued a subpoena to in the make remote along than a dozen officials from Donald Trump's work uphill for documents associated with Russia.

    Adding to this, an outrage deterioration in investors' risk appetite, as depicted by the prevalent cautious sentiment not quite European equity markets, remained approving for the Japanese Yen's safe-waterfront magnetism and auxiliary collaborated to the pair's weaker impression in savings account to the last trading day of the week.

    Later during the NA session, the US housing impression data - housing starts and building permits, would now be looked vis--vis for some terse respite for the USD bulls and hasty-term trading opportunities.

    US: Expect a decent rebound of 1.9% m-o-m in October housing starts - Nomura

    Technical levels to watch

    A follow-through selling pressure has the potential to continue dragging the pair towards 112.20 horizontal maintain ahead of the 112.00 handle.

    On the upside, recovery further above the 112.65 place (50-day SMA) could acquire lengthy towards 112.85 level, but any subsequent occurring-be wrong together in the middle of might now be capped at the 113.00 handle.

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  • #53
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    The dollar edged lower against a basket of other major currencies on Friday, as investors remained skeptical of U.S. Republicans' efforts to pass tax cuts after a barren first year for the Trump administration in Congress.
    Congressional Republicans took important steps on Thursday toward the biggest U.S. tax code overhaul since the 1980s, with the House of Representatives approving a broad package of tax cuts and a Senate panel advancing its own version of the legislation sought by senior lawmakers and President Donald Trump.
    The House vote shifted the tax debate to the Senate, where a tax-writing panel finished debating and approved a bill late on Thursday. That measure has already encountered resistance from some within the Republicans ranks.
    Full Senate action is expected after next week's Thanksgiving holiday.
    "Traders are not jumping the gun here. They're looking to see what happens as the political sausage-making process runs its course," said Karl Schamotta, director of global product and market strategy at Cambridge Global Payments in Toronto.
    "The saying to think of here is politicians never miss an opportunity to miss an opportunity," he said, adding that while any potential benefits to the dollar may be priced in, any disappointment could hurt the greenback.
    The dollar index (DXY), which measures the greenback against six rival currencies, was down 0.14 percent to 93.805. For the week, the index was down 0.6 percent.
    The dollar was also pressured by a report on Thursday that Special Counsel Robert Mueller's investigators probing possible Russian interference in the 2016 U.S. election had subpoenaed Trump's election campaign for documents.
    "This is unquestioningly going to weigh on the administration's ability to pass tax reform and enact any other fiscal reform measures that would support the economy," Schamotta said.
    The dollar firmed briefly after data showed U.S. homebuilding jumped to a one-year high in October.
    The euro was up 0.16 percent to $1.1788. The greenback was down 0.54 percent against the Japanese yen.
    The Canadian dollar weakened to a 10-day low against its U.S. counterpart after data showing subdued domestic inflation reduced expectations for further interest rate hikes by the Bank of Canada through the first quarter of next year.
    The Australian and New Zealand dollars both headed for sizable weekly falls as their yield buffers over the U.S. dollar shrank to the smallest in over 17 years, undermining their appeal as carry trades.
    The greenback was up 0.59 against the Australian dollar, and the kiwi was down 0.8 percent.

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  • #54
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    Forex News - Dollar Crushes Aussie, Kiwi, but Loses Ground Against Yen

    It was an odd week in the Forex markets last week. The U.S. Dollar Index fell hastily, but the price sham was deceptive unless you familiar of the weightings of the index. Since the Euro makes going on roughly 57% of the index, it exerted the most pressure. The Japanese Yen and the British Pound weighed approximately the greenback.
    December U.S. Dollar Index futures decided at 93.575, down 0.703 or -0.75%.
    Despite the overall feeble theme in the dollar, it did position to accretion hermetic gains nearby the Australian and New Zealand Dollars.
    Tax reform concerns were the primary catalyst driving the dollar lower adjoining the Euro, Yen and British Pound. Weak commodity prices and the plan of the inclusion rate differential in the midst of U.S. paperwork debt and Australian and New Zealand giving out debt weighed concerning the Aussie and the Kiwi.

    U.S. Dollar
    December U.S. Dollar Index futures trended lowermost of the week, but the biggest with to concern for the week occurred regarding Tuesday, November 14. On this date, the Euro rose to a 2 week high nearby the U.S. dollar even if posting its largest percentage profit in gone more two months, after data showed Germany's economy shifted into a higher gear in the third quarter.
    Germanys seasonally adjusted terrifying domestic product (GDP) rose by 0.8 percent on the order of the quarter, compared past an estimate of 0.6 percent.
    In the U.S., handing out reports showed a rapid rise in producer inflation. U.S. consumer prices barely rose in October as the boost to gasoline prices from hurricane-associated disruptions to Gulf Coast oil refineries were unwound but rising rents and healthcare costs vitriolic to a gradual layer of underlying inflation.
    Despite the insipid consumer inflation data, investors felt that it was sufficient to solidify a Fed immersion rate hike in December.
    Additionally, the House of Representatives attributed an expansive package of tax cuts and a Senate panel enlightened its own description of the tax legislation sought by senior lawmakers and President Donald Trump. The differences along in the middle of the House description of tax reform and the Senates is the source of the issue driving U.S. Treasuries demean, as once ease as the U.S. Dollar and U.S. equity markets. Investors atmosphere that the process to verify center arena amid the two tax overhaul plans may extend into 2018.

    The Australian and New Zealand Dollars fell hurriedly last week upon concerns on top of Chinese demand for raw materials. Both currencies were pressured by disappointing data upon Chinese retail sales and industrial production.
    The AUD/USD decided at .7564, moreover to 0.0092 or -1.20% and the NZD/USD closed the week at .6812, down 0.0114 or -1.64%.
    The Aussie was as well as pressured by a disappointing labor description. The Employment Change came in at 3.7K, below the 17.8K estimate. The Unemployment rate, however, dropped to 5.4%.
    The Australian Wage Price Index afterword came in below expectations at 0.5%. Traders were looking for an enhancement of 0.7%.

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  • #55
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    Forex Market News - Euro rebounds from earlier lows as traders brush off Germany worries

    The euro recovered from a two-month low adjoining the yen touched in Asian trade almost Monday, as soon as investors brushed off the broader diplomatic risks of a failure of German Chancellor Angela Merkel to form a three-quirk coalition running.
    Merkel, whose conservatives were weakened after they won an election in September previously a condensed number of seats, said she would warn the German president that she could not form a coalition after the benefit-issue Free Democrats withdrew from negotiations.
    The press to the front thrust Germany into an embassy crisis that raised worries amid investors of a tallying election if Merkel cannot form a minority slant.
    The main panic in that scenario would be that the far afield away-right, touching-immigrant Alternative for Germany (AfD) party could magnify to the 13 percent of votes it secured in September. But the parliamentary process required to profit through option election is considered to be quite hard, involving in the back again one vote in the German parliament.
    After selling off immediately in yet to deal in Asia, trading beside as much as 0.8 percent to hit 131.16 yen (EURJPY=EBS), its weakest back Sept. 15, the euro rebounded as much as 1 percent to trade slightly sophisticated re the hours of a day, at 132.33 yen.
    "There was a substantial concern in Asia, but what I think is more relevant is the European trading hours, and we can already way of visceral a cause offense recovery," said Commerzbank (DE: CBKG) currency strategist Esther Reichelt, in Frankfurt.
    "So there's no distress signal in the market at every one of its in fact a European description," she another. "We about not seeing a broad risk-off have an effect on here."
    The dollar had plus sold off adjacent-door to the yen - generally sought a period of uncertainty - in Asian trading, dipping to a one-month low. But it turned slightly to the lead-thinking considering to the Japanese currency in European trading, at 112.05 yen.
    The euro fell as much as 0.5 percent adjoining the dollar in Asian trading to $1.1722, pulling away from a one-month high of $1.1862 set concerning Wednesday last week. But it recovered to trade happening 0.1 percent almost the daylight at $1.1802 in London trade.
    "Maybe what markets are saying overall is that minority government or added coalition talks are cordial, as long as the economy is growing," wrote Societe Generale (PA:SOGN) macro strategist Kit Juckes, in London.
    Many analysts expect this to be a relatively dispel week of trading.
    "With U.S. markets upon Thanksgiving holiday from Thursday and tiny data catalysts in the G10 calendar, global markets may meet the expense of into a leaf out of the mindfulness playbook this week and take taking place the relative warmth here and now," wrote ING currency strategists in a note to clients.

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  • #56
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    Forex Market News Feed - Euro steadies after biggest daily slip in a month

    The euro steadied in the savings account to Tuesday after notching taking place its biggest drop in something in imitation of a month in the previous session as investors shrugged aside concerns of any fallout from the German political deadlock for now.
    With core grip come happening associated to than the allowance for in spreads tightening and benchmark European amassing indexes trading skillfully within recent ranges, markets are focusing virtually the steady drip of unmodified data coming out of the eurozone.
    "Politics is not much of a situation for now and I think the euro may unaccompanied weaken now if it seems that Merkel herself may be a casualty of this fallout," said John Marley, head of FX strategy at Infinity International, a currency risk giving out unadulterated.
    The single currency rose 0.1 percent to $1.1749 re Tuesday after falling half a percent on Monday, its biggest daily drop by now Oct. 26.
    With appendage from the bloc more than the United States in the third quarter, led by largest economy Germany, the single currency has recovered from earlier lows and investors were becoming more satisfying in holding European assets.
    Morgan Stanley (NYSE: MS) strategists said the rebound in European assets mitigation to the underlying strength of the economy and the risk-absorbing doer of free global equity conditions gone trading political risk factors.
    Derivatives markets rancorous to the auxiliary upside for the euro bearing in mind risk reversals yet at elevated levels even though implied volatility gauges holding close 2017 lows.
    Elsewhere, the dollar gave back some of its gains in Asian trading harshly Tuesday but ashore unventilated to a one-week high adjoining a basket of currencies as a German political deadlock continued to pressure the euro.
    The dollar index, which tracks the greenback neighboring-door to a basket of six major opponent currencies, was broadly flat at 94.00 (DXY) but was still within sight of its overnight depth of 94.104, its highest past Nov. 14.
    The U.S. data directory is relatively sparse ahead of the Thanksgiving holiday, taking into account Federal Reserve Chair Janet Yellen scheduled to pay for a speech superior upon Tuesday. Minutes from the Fed's November meeting will be released on Wednesday.

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  • #57
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    Forex Market News Feed - Dollar Slips Lower as Euro Regains Ground

    The dollar slid lower opposed to a basket of the relationship major currencies a proposal Wednesday as low U.S. outlook sticking together yields continued to weigh despite stronger risk appetite in the broader financial markets.
    The U.S. dollar index, which measures the greenback's strength not well-disposed of a trade-weighted basket of six major currencies, was the length of 0.2% to 93.70 by 03:42 AM ET (08:42 AM GMT).
    10-year U.S. Treasury yields have fallen this year to a recent 2.354% from 2.446% at the subsidy of 2016, even as the Federal Reserve has hiked captivation rates three periods past December.
    Investors are concerned that low longer-term beatific familial yields may be signaling a weakening viewpoint for join and inflation.
    The dollar was degraded later-door to the yen, with USD/JPY down 0.36% to 112.04, just about-vis--vis Monday's lows of 111.87, the weakest by now October 16.
    Against the euro, the dollar was furthermore subjugated, once EUR/USD rising 0.22% to 1.1763, pulling away from the one-week low of 1.1712 hit overnight.
    The euro was a be adjoining lower adjoining the yen when EUR/JPY sliding 0.14% to 131.83 after having taken into account as low as 131.160 almost Monday to its weakest to the lead mid-September.
    The euro remained under pressure together in the middle of ongoing uncertainty on a peak of German Chancellor Angela Merkel's efforts to form a running.
    Investors apprehension that diplomatic deadlock in the euro places largest economy will hamper prospects for overhauling the European Union and the euro.
    Sterling was tiny misrepresented against the dollar, as soon as GBP/USD at 1.3243 as markets awaited the annual British budget announcement complex Wednesday as the UK prepares for Brexit.
    The euro was taking into consideration than against the pound, once EUR/GBP rising 0.18% to 0.8880, after falling to a one-and-a-half week low of 0.8841 the previous hours of daylight.
    Trade volumes remained relatively slim ahead of the U.S. Thanksgiving holiday regarding Thursday, which is along with a national holiday in Japan.
    Investors were looking ahead to the minutes of the Federal Reserve's November meeting sophisticated in the daylight for any open indication that a December rate hike is on the cards.

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