Forex Trading: Cable ruined by the UK's inflation data April 18, 2018

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Apr 202018
 
Forex Trading: Cable ruined by the UK's inflation data April 18, 2018

The currency pair dropped significantly and resumed the yesterday's bearish candle. Price has found strong resistance at the 1.4344 static resistance. The pound plunged versus all its rivals after the poor UK's economic data. The EUR/GBP further drop could be invalidated if the rate will close …
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Weaker yen caught between whims of politics and trade worries

For Mr and Mrs Liu, a mid-30s couple from the Chinese province of Fujian queueing outside Akebono Daifuku for what are arguably Tokyo's most famous strawberry rice cakes, Tuesday's yen exchange rate of Â¥107 represents a second delicious treat. They had rush-booked the holiday to Japan in …
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Forex – Psychology/Strategy for major markets today

The “Active Trader” service has been designed to encapsulate all the analysis relevant to a specific currency pair. It includes: chart analysis, market flows, economic commentary, a daily strategy, central bank views, news, market highlights, a full data and events calendar as well as in-depth research on …
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Australian Dollar Edges Higher as Market Eyes Key Labour Market Report

The Australian Dollar traded higher against a majority of its developed world rivals Wednesday as markets positioned for the release of the latest set of … We think the reaction function for the AUD will be asymmetric,” says Daniel Been, head of FX research at ANZ Research, a division of Australia and …
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Oil Extends Gains After Crude Inventories Data

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Apr 192018
 
Oil Extends Gains After Crude Inventories Data

The U.S. Energy Information Administration said in its weekly report that crude oil inventories fell by 1.071 million barrels in the week ended April 13. Market analysts' had expected a crude-stock decline of 500,000 barrels, while the American Petroleum Institute late Tuesday reported a decline of 1.047 …
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CANADA FX DEBT-C$ hits one-week low as BoC frets about trade

(Adds strategist quotes, details throughout; updates prices) * Canadian dollar at C$1.2635, or 79.15 U.S. cents * Loonie touches weakest since April 10 at C$1.2660 * Bond prices mixed across steeper yield curve By Fergal Smith TORONTO, April 18 (Reuters) – The Canadian dollar weakened to a …
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GBP/JPY: Supported at Prior Fibonacci Resistance, But Will it Hold?

Quarterly Forecasts have just been updated, and Q2 forecasts are now available from the DailyFX Trading Guides Page . If you're looking to improve your trading approach, check out Traits of Successful Traders . And if you're looking for an introductory primer to the Forex market, check out our New to …
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CBN injects $210m into interbank forex market

The Apex Bank said in a statement that it had released $100 million earmarked for the wholesale market, $55 million for small businesses and individuals, and $55 million for certain dollar … It will be recalled that the CBN had on March 27 also injected $210million into the interbank forex market.
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Monero (XMR) Trading 34.3% Lower This Week

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Apr 182018
 
Monero (XMR) Trading 34.3% Lower This Week

Monero logo Monero (CURRENCY:XMR) traded 6.5% lower against the U.S. dollar during the 24-hour period ending at 16:00 PM ET on March 18th. One Monero coin can now be bought for about $183.94 or 0.02442820 BTC on popular cryptocurrency exchanges including Exrates, LiteBit.eu, Exmo …
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CANADA FX DEBT-C$ rallies as hotter inflation boosts rate hike chances

(Adds strategist quotes and details throughout on market activity; updates prices) * Canadian dollar at C$1.2873, or 77.63 U.S. cents * Loonie touches its strongest since March 12 at C$1.2824 * Oil rises 2.5 percent * Bond prices lower across a flatter yield curve By Fergal Smith TORONTO, March 23 …
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Hawaii Considers Cryptocurrency Consumer Protection Bill

Regulating virtual currency trading in Hawaii is an issue of high importance this year because DFI in 2016 interpreted state law governing money transfer businesses as applying to virtual currency brokers, and that led at least one major firm, Coinbase, to quit doing business in the state last year.
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Dollar Rises Amid Concerns of Global Trade War

The dollar rose against the currencies of China, South Korea and other U.S. trading partners Thursday, as concerns over a brewing global trade war intensified. The dollar was recently up 1.4% against the Korean won and gained 0.5% against China's offshore yuan. It was up 0.5% against the Mexican …
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Asian stocks set for gains as trade and geopolitical worries ebb

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Apr 172018
 
Asian stocks set for gains as trade and geopolitical worries ebb

“Market sentiment remains at the mercy of political rhetoric and … the theme from the overnight session is that there are encouraging signs of an ease in tensions in Syria along with improved prospects for resolutions in trade tensions,” Rodrigo Catril, senior foreign exchange strategist at National …
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Canadian Dollar Rate Forecast: CAD Slips On Housing Data, Outlook Positive

The risks that were causing traders to price out Bank of Canada rate hikes seem to be eroding and that could mean more strength is ahead for the Canadian Dollar. Currently, we're seeing a decline of NAFTA risk, positioning that could lead to an aggressive appreciation of CAD as CAD longs are in the …
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Japanese Market Declines

In the currency market, the U.S. dollar is trading in the upper 105 yen-range on Monday. On Wall Street, stocks closed higher on Friday, partly reflecting a positive reaction to reports showing an unexpected improvement in consumer sentiment and a bigger than expected jump in industrial production.
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Lunyr One Day Trading Volume Reaches $2.02 Million (LUN)

Lunyr logo Lunyr (CURRENCY:LUN) traded down 21% against the dollar during the 1-day period ending at 10:00 AM ET on March 18th. One Lunyr token can now be purchased for approximately $9.59 or 0.00126009 BTC on exchanges including Binance, CryptoDerivatives, Gate.io and HitBTC.
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US dollar snaps four-day losing streak

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Apr 162018
 
US dollar snaps four-day losing streak

Against the Japanese yen, the dollar extended gains and rose 0.4 per cent on the day at 107.19 yen. In a volatile London session, borrowing low-yielding currencies to buy higher-yielding ones was among the top-performing trades. “The major developed currency pairs have been mired in ranges and …
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BSP applications from digital currency traders up amidst scams, falling Bitcoin price

Banko Sentral ng Pilipinas (BSP) has said applications from cyptocurrency trading companies have increased by more than 50 percent since last year. This is despite the prices of Bitcoin and other digital currencies crashing down, particularly in the U.S., starting January 2018. BSP Deputy Governor …
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Hong Kong intervenes to buy local currency, first time since 2005

A security guard walks past a directory board of Hong Kong Monetary Authority (HKMA) in Hong Kong December 20, 2012. — Reuters picHONG KONG, April 13 — The Hong Kong Monetary Authority bought the local currency for the first time since the current trading band was imposed in 2005, after the …
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Seoul to discuss currency market intervention report with IMF next week

SEOUL, April 13 (Yonhap) — South Korea will discuss currency market-related issues, such as how to reveal records of its market interventions, with the International Monetary Fund (IMF) next week, the country's chief economic policymaker said Friday. Seoul's finance ministry said earlier that South …
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Tokyo stocks open flat amid lingering trade war fears

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Apr 152018
 
Tokyo stocks open flat amid lingering trade war fears

“Much ink has been spilt over trade wars in the last few days, and we now wait to see what the Trump administration does next,” Stephen Innes, head of forex trading for Asia Pacific at Oanda, said in a commentary. But Hiroaki Hiwata, strategist at Toyo Securities, said “worries over a trade war are …
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Market Morning Briefing: Dollar Yen Saw Highs Near 107.46

Dow (23932.76, -2.34%) came off sharply on Friday after seeing a 2-day bounce from levels near 23500 previously. Overall the trade region is getting narrow for the next few sessions between 24300-23300 and the index would soon break on either side to move afresh for the medium term, giving more …
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Japanese investors dump record amount of US bonds in February

TOKYO (Reuters) – Japanese investors sold 3.924 trillion yen ($36.68 billion) of U.S. dollar bonds in February, the largest amount sold on record, Japanese government data showed on Monday, as rising costs of currency-hedging undercut their yield attraction. It was their fifth straight month of net selling …
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Crude Oil: Oil Trading On A Stronger Footing This Morning

For the 24 hours to 23:00 GMT, Crude Oil declined 1.63% against the USD and closed at USD61.97 per barrel on Friday, after fresh figures from Baker Hughes disclosed that the number of active oil rigs in the US rose by 11 to 808 in the week ended 06 April, hitting its highest level since March 2015.
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DOW's triangle pattern in shape

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Apr 142018
 
DOW's triangle pattern in shape

Asian markets are trading generally firmer today despite the selloff in the US on Friday. At the time of writing. Nikkei is trading up 0.65%. China's SSE is back from holiday and is up 0.35%. Hong Kong HSI is up more than 1.8%. However, we'd like to point out that risks for deeper global market selloff …
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HK currency intervention boosts property market risk

Hong Kong has been forced to intervene twice in the past two days to support its currency after the Hong Kong dollar slumped to its weakest level since 2005, in a move that risks putting pressure on mortgage borrowers and Hong Kong's high-priced property market. The Hong Kong Monetary Authority …
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FOREX-Dollar extends 2-week winning streak as trade war clouds loom

LONDON, April 9 (Reuters) – The dollar edged higher on Monday, extending a two-week winning streak, as rising stock markets signalled a return in risk appetite, though investors remained wary about trade tensions between the United States and China. A media report that China was evaluating the …
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Asia's forex outlook improves but yuan to lose ground on trade dispute

While Asian currencies, which are heavily exposed to global trade, should have taken a hit from the ongoing tit-for-tat trade row and on expectations for faster rate hikes from the US Federal Reserve, most of them have gained this year. The latest Reuters poll of nearly 70 foreign exchange strategists …
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EUR/USD Wave Patterns Depend On Breakout Direction

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Apr 132018
 
EUR/USD Wave Patterns Depend On Breakout Direction

The EUR/USD remains a difficult currency pair to analyse as price is moving sideways for a lengthy period of time. The bullish breakout could be limited as price challenges potential Fibonacci levels of wave B (brown). A bearish break below the support (blue) could create a larger ABC (brown) whereas …
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'Mature' cryptocurrency market to draw more institutional traders this year, analyst says

A recent survey by Huobi, a Beijing-based digital currency exchange, showed 78 per cent of respondents believe the market value of cryptocurrencies will increase in the next three months. In the long run, investors are confident in the growth of market value, as 88 per cent of respondents said they were …
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Saudi government debt begins trading on Tadawul

London/Dubai: The Saudi stock exchange began trading local currency government bonds on Sunday, in the latest move by authorities to deepen the … The trading of 45 government debt instruments worth SR204 billion ($54 billion) was officially launched at a press conference yesterday by the …
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Finance minister reaffirms that currency deal not linked to FTA renegotiation

SEOUL, April 9 (Yonhap) — A recently revised trade pact between South Korea and the United States, as well as a currency deal, are on separate tracks, Seoul's chief economic policymaker said Monday, stressing that the country plans to faithfully exercise its foreign exchange sovereignty. Last month …
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Forget Trade Wars, It Could Be Currency Wars Next – Dollar Sells Off, Pound, Euro Rally

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Apr 122018
 
Forget Trade Wars, It Could Be Currency Wars Next – Dollar Sells Off, Pound, Euro Rally

The performance of the British Pound was notable on Monday, as the GBP/USD exchange rate leapt above 1.4150. ING reports fears of a trade war could be overblown but is concerned about the dangers to markets if the US identify China as a currency manipulator in a report this month. ABN AMRO …
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ForexLive Americas FX news wrap: Nowotny sends the euro for a spin

The Wall Street day started with Nowotny declaring the end of ECB QE and sending the euro quickly to 1.2378 from 1.2325. His comments stood for a few hours before the ECB came and walked them back, dropping the euro right back to 1.2325 before a late bounce to 1.2355. USD/JPY was bounced …
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Swiss Franc Trading Flat In The Asian Session

Amid no macroeconomic releases in Switzerland today, traders would look forward to global macroeconomic events for further direction. The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
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ING says China is showing the extent of tools it may deploy in a trade war

“It seems as if Beijing is showing their hand in this trade war and showing the full extent of policies they could deploy in response to Trump's … Adding to that, he says that a yuan devaluation policy approach will weigh on global risk sentiment as it would escalate trade tensions to a currency war, …
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US stocks open with strong gains on lower trade war fears

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Apr 112018
 
US stocks open with strong gains on lower trade war fears

The US stocks are opening with strong gains on the back of lower China/US trade wars fears. China's PM Xi opened the door for lower tariffs (on cars) and that give the negotiators some leverage. It certainly is better than the initial responses from last week where a US tariff would be met with a new …
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EURUSD Attracted to 1.2350 while USDJPY Maintains Bullish Posture

The Elliott Wave analysis for EURUSD and USDJPY shows a higher probability move towards USD strength. The video above is a recording of a US Opening Bell webinar from April 9, 2018. Elliott Wave Analysis for EURUSD. Since January 2018 we have been anticipating that a three year expanded …
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UK data: BRC Like-for-like sales for March: +1.4% y/y (vs. expected at -0.1%)

“Seemingly endless cold weather dissuaded would-be shoppers from the high street and a number of retailers delivered bad news,” said Paul Martin, head of retail at KPMG, which also sponsors the BRC report. “Great hopes were placed on Easter trading, but whilst the latest figures point to overall …
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GBP/USD: Is the Bullish Trend Ready to Push Up to Fresh Highs?

We came into last April trading at 1.2500, and even that was a sight better than where we were a couple of weeks prior, when GBP/USD was making a fast approach down to 1.2100. But, over the past year we've seen considerable US Dollar weakness and more recently, strength in the British Pound.
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