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Re: Forex Market analysis and recent news

Forex News - Dollar index near 18-month high on safe-haven bid amid global growth worries

The dollar held stuffy a 18-month high re speaking Monday, bolstered by fasten-waterfront buying as heightened concerns of a global economic slowdown condensed appetites for riskier assets such as stocks and Asian currencies.

Weaker-than-venerated economic data from China and Europe and fears of a practicable U.S. handing out shutdown spooked investors away from stocks toward the greenback and yen.

"The dollar is appropriately showing it is handsome during period of melody around put inflection on," said Ray Attrill, head of currency strategy at NAB in Sydney.

The dollar index (DXY), which gauges its value not well-disposed of six major peers, was tiny tainted at 97.44, out cold the close 18-month tall of 97.71 it hit regarding Friday.

The Australian dollar , whose fortunes are neighboring to tied to China's economy, was marginally demean at $0.7174. It wandering 0.3 percent of its value last week as data showed Chinese November retail sales grew at the weakest pace to the fore 2003 and industrial output rose the least in on the subject of three years, underlining risks to the economy.

The offshore Chinese yuan was flat at 6.8974.

Apart from fears of a global economic slowdown, markets are along with focusing taking into account insinuation to the order of the subject of the likely trajectory of U.S. monetary policy.

The Federal Reserve is set to lift draw rates by 25 basis points at its two-hours of daylight meeting that opens Tuesday.

The central bank has lifted rates eight period past December 2015 in a bid to rearrange policy to more adequate settings after having slashed borrowing costs to unventilated zero to combat the financial crisis a decade ago.

With the hike largely factored in by the find the maintenance for, larger moves in the dollar will be guided by the Fed's accept hint.

According to their projections in September, the median view surrounded by the Fed's policymakers was for three rate hikes in 2019. However, leisure scuffle rate futures used to gauge the probability of supplementary hikes are pricing in and no-one else one hike in 2019.

"Any content that speaks to the difference in the middle of push pricing of one glamor rate rise in 2019 not well-disposed of previous Fed indications of three rises is definitely likely to imitate markets," Michael McCarthy, Sydney-based chief markets strategist at CMC Markets, said in a note.

Traders submission to on that in the set against along U.S. borrowing costs will likely verbal abuse U.S. ensue involve forward and ultimately force the Fed to discontinue its monetary tightening lane.

Recent remarks by Fed officials have with been confront as dovish by some analysts. Last month, Fed Chairman Jerome Powell said rates were stuffy the range of policymakers' estimates of "neuter" - the level at which they neither enliven nor impede the economy.

"The Fed will most likely cause problems from an auto-pilot mode to mammal data dependent," said Attrill.

The dollar gained 0.1 percent greater than the yen in Asian trade to trade at 113.48. Interest rate differentials along together in the middle of the U.S. and Japan make the dollar a more handsome bet than the yen, according to some analysts.

The Bank of Japan has a meeting in description to Dec. 19-20, at which policy is designed to remain deeply accommodative as inflation remains quickly asleep the its object.

The euro (EUR=) was in addition to little tainted at $1.1310, having worthless 0.6 percent last week after weaker-than-mature-privileged data out of France and Germany suggested that economic upheaval in Europe remains pale.

Sterling remained under pressure in Asian trade, down 0.02 percent at $1.2582. British trade minister Liam Fox said upon Sunday talks behind the European Union to secure "assurances" for parliament upon Prime Minister Theresa May's Brexit agreement will agreement grow obsolete, later a decision customary in the supplementary year.

(This take effect corrects headline, first paragraph and 4th paragraph to make milestone a muggy 18-month high, on the other hand of stuffy 19-month.)

Re: Forex Market analysis and recent news

Forex News Feed - U.S. Dollar Rises as Consumer Optimism Falls

The greenback picked occurring steam on Friday despite U.S. consumer optimism hitting its lowest level back Donald Trump was elected president and the paperwork shutdown upsetting into its 28th daylight.

The dollar was supported by a stronger-than-respected description for U.S. industrial production in December, in which manufacturing posted an impressive 1.1% profit from November. Such forgive surprises minister to some of the worries approximately the strength of the economy after the slowdown at the halt of last year. They furthermore underline the relative strength of the U.S. compared to the Eurozone, where the Bank of Italy warned Friday that the country may have slid into recession later a second straight decrease in GDP in the fourth quarter of last year.

However, the negatives for dollar sentiment quay's following away: Congress and Trump continue to torment when their impasse well along than the budget and on the summit of 800,000 federal workers remain furloughed. The shutdown could have negative impacts on the economy, put on leaders have warned this week as they presented their quarterly earnings.

The shutdown is comprehensibly having an effect upon U.S. consumers already: the University of Michigan's Consumer Survey Center showed that consumer sentiment plummeted to a two-year low of 90.7 in January from 98.3 a month earlier.

The U.S. dollar index, which trial the greenback's strength nearby a basket of six major currencies, rose 0.17% to 95.875 as of 10:19 AM ET (15:19 GMT).

The dollar after that continued to be supported by a Wall Street Journal relation that U.S. Treasury Secretary Steven Mnuchin is in agreement of mitigation tariffs upon Chinese products. That sent U.S. stocks and the dollar difficult late upon Thursday, despite the Treasury Department denying the news.

Meanwhile, sterling retreated from its recent highs after lackluster retail sales data for December. GBP/USD decreased 0.51% to 1.2914. It's still holding to most of the gains made in recent weeks, as the risk of an economically harmful 'vanguard' Brexit appears to recede.

The yen, typically sought by investors as a safe quay during a period of economic or push-pull attention to, was lower neighboring to the dollar when USD/JPY rising 0.19% to 109.42.

Elsewhere, the euro dipped gone than EUR/USD falling 0.18% to 1.1374.

Re: Forex Market analysis and recent news

Forex News Feed - Dollar steady oppressive two-week high harshly recovery in risk appetite

The dollar hovered heavy a two-week tall bordering to a basket of currencies a proposal Monday, supported by a sustained recovery in speculator risk appetite which nudged U.S. wonder yields sophisticated.

The dollar index, which trials its strength neighboring-door to an organization of six major currencies, was steady at 96.315 (DXY) after climbing to 96.394 percent on the order of Friday, its strongest by now Jan. 4.

Hopes for a thaw in U.S.-China trade tensions, a more dovish-sounding Federal Reserve and optimism that Britain could avoid a "No-Deal" Brexit are some of the factors that have fanned the compensation in swashbuckler risk appetite, which went into a deep deaden in December along amid a slide in global equity markets.

Along subsequently than a confront in Treasury yields earlier in the month which had accompanied the retreat in equities, the dollar index had slipped to a three-month low stuffy 95.00 regarding Jan. 10.

"The dollar index is valuably concerning a recovery track. The currency was stranded in a downtrend at the begin of January but is now monster bought minister to close its peers such as the yen, euro, pound and the Aussie," said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo.

"Whether the current 'risk concerning' supporting the dollar can continue will likely depend upon how U.S. corporate earnings outlook out. The United States and China falling out behind anew greater than trade issues and volatile U.S. politics still remain the main potential risk factors."

The dollar was the length of 0.15 percent at 109.62 yen, taking a pause after climbing to a three-week tall of 109.895 upon Friday. The greenback had gained following more 1 percent contiguously its Japanese peer last week.

The euro was a shade highly developed at $1.1373 (EUR=) but in near achieve of a two-week low of $1.1353 brushed upon Friday.

The pound was 0.1 percent belittle at $ 1.2857.

Sterling had climbed to a two-month top of $1.3001 upon Thursday upon growing confidence that Britain can avoid leaving when the European Union without flexibility, but faced profit-taking upon Friday.

The Australian dollar was steady at $0.7164 after ending Friday upon a loss of 0.3 percent.

China is received to relation upon Monday that economic optional addition cooled to its slowest in 28 years in 2018 plus weakening domestic demand and bruising U.S. tariffs.

Due to Australia's unventilated trading connections by now the world's second-biggest economy, the Aussie is often regarded as a proxy to China-similar trades.

The 10-year Treasury note is approving (US10YT=RR) rose to a three-week tall of 2.799 percent upon Friday, continuing its rise from a one-year low of 2.543 percent plumbed in front in January.

Re: Forex Market analysis and recent news

British Pound Touches Highest Since might in Vote for Conservatives

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.

Re: Forex Market analysis and recent news

U.S. dollar Falls on Mixed Trade Signals; Pound Rises


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.

Re: Forex Market analysis and recent news

Dollar Surges Against euro on Stronger U.S. Jobs Report


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.

Re: Forex Market analysis and recent news

Dollar bolstered by U.S. jobs data, markets look to trade talks

The dollar control firm on Monday when knowledge showed surprise strength within the U.S. jobs market, however the currency was restrained from moving higher by worries concerning an step-up within the U.S.-China trade war.

The dollar index (=USD) stood virtually flat at 97.706 in mid-Asian trade, when rising 0.3% on weekday. The euro listed at $1.10575 (EUR=), when touching a one-week low of $1.10395 on weekday.

The dollar modified hands at 108.58 yen. It had upraised to 108.92 yen on the U.S. jobs knowledge before losing momentum.

U.S. nonfarm payrolls enhanced by 266,000 jobs last month, the largest gain in ten months, whereas the pct ticked backtrack to 3.5%, its lowest level in nearly half a century.

Those figures steered the Trump administration's 17-month trade war with China, that has plunged producing into recession, has not nonetheless spilled over to the broader U.S. economy.

Still, investors suppose that might modification if trade tensions increase additional, particularly if Trump goes ahead with planned tariffs on some $156 billion price of product from China from Dec. 15.

The market has been mostly engaged on the idea that those tariffs, that cowl many consumer product like cellphones and toys, are going to be born or a minimum of delayed, provided that Washington and Beijing agreed in October to figure on a trade deal.

"Markets are sensing that either side need to avoid a collapse of their negotiation, judgement from numerous news headlines," same Kazushige Kaida, chief of forex at State Street (NYSE:STT). "So the most situation is for the dollar/yen to check mid-109 yen levels."

Top White House economic advisor Larry Kudlow confirmed on weekday that the Dec. 15 point in time to impose the new tariffs remains in situ, however superimposed that President Donald Trump likes wherever trade talks with China are going.

China's exports shrank for the fourth consecutive month in Nov, underscoring persistent pressures on makers from the Sino-U.S. trade war.

Elsewhere, sterling listed at $1.3143 , shortly from a seven-month high of $1.3166 assault Thursday.

Against the euro, the pound hit a 2-1/2-year high of 84.10 pence per euro (EURGBP=D4).

The currency has been bolstered by expectations that Prime Minister Boris Johnson's Conservative Party can win an outright majority within the future election on Thursday, thereby ending a decorated parliament and political palsy on Brexit.

The Conservative Party extended its lead over the Labor Party to fourteen share points, up from nine share points per week agone, an poll by Survation for ITV's farewell Britain showed on Monday.

"Markets currently suppose the Tories can win. however if they fail to win an outright majority, meaning basically nothing is totally different from currently and can be a reasonably massive shock for the market," same Minori Uchida, chief FX analyst at MUFG Bank.

The dollar listed at C$1.3255 to the U.S. unit . The loonie shed over 0.5% on weekday following knowledge showing the Canadian job market losing a surprise 71,200 web positions in Nov once economists had expected a gain of 10,000.

Re: Forex Market analysis and recent news

U.S. Dollar, euro close to Flat as Traders look central bank conferences


The U.S. greenback and therefore the euro was very little modified on Mon in Asia as traders look central bank conferences due later on.

The U.S. greenback Index was very little modified at ninety seven.685 by 11:57 PM ET (03:57 GMT). The FRS is predicted to stay rates steady on Wed on at the conclusion of its policy meeting. The Fed has cut rates 3 times this year to protect the U.S. economy from world retardation.

After the last rate cut, in October, Fed Chair theologiser Powell aforementioned each the economy and policy were in a very "good place" and indicated that policymakers saw no need to chop rates more.

"I assume they're feeling specialized straight away that they’ve determined to place this issue on pause,” aforementioned Tom Porcelli, chief U.S. economic expert at blood cell Capital Markets in the big apple.

On the info front, The yank client worth inflation figures are due on before the Fed meeting, that is expected to point out inflation running at a pair of, whereas retail sales numbers on Friday are forecast to point out the growth of 0.4%.

The USD/CNY combine last listed at seven.0329, up 0.01%, once knowledge showed the country’s exports born 1.1% year-on-year in Nov, compared with the expected 1.0% enlargement.

Meanwhile, the EUR/USD combine was conjointly close to flat at one.1055. Christine Lagarde can hold her initial meeting and press conference as European central bank (ECB) president on a weekday.

The ECB isn't expected to create any vital amendment to financial policy. However, traders pay attention to Lagarde’s wordings for her thoughts on the financial policy outlook, the economy, and a future strategy review.

The GBP/USD combine inched up 0.1% to 1.3143 as traders continued to look a U.K. election on which will confirm the course of Brexit.

The USD/JPY combine was unchanged at 108.57.

The AUD/USD combine and therefore the NZD/USD pair each slipped 0.1%.

Re: Forex Market analysis and recent news

U.S. dollar Unmoved sooner than Fed conferences, Looming Tariff deadline


The U.S. dollar was unmoved on weekday in Asia before central bank conferences and a looming tariff point later in the week.

The U.S. dollar index that tracks a basket of different currencies was unchanged at 97.610 by 12:30 AM ET (04:30 GMT).

On the radiolocation in the week are policy conferences at the U.S. Federal Reserve and also the European financial institution. whereas the 2 central banks aren't expect to announce any vital changes to their policies, traders can pay attention to clues on whether or not additional easing is future next year.

On the Sino-U.S. trade front, investors hoped-for to visualize whether or not Washington can act with a planned Dec. fifteen tariff hike on Chinese product.

Bloomberg according to long that U.S. Agriculture Secretary boy Perdue aforementioned Washington is unlikely to impose additional tariffs on Chinese exports on Dec. 15.

“We have a point bobbing up on the Dec. fifteen for an additional share of tariffs, I don't believe those are enforced and that i assume we have a tendency to might even see some backing away,” Perdue aforementioned, consistent with Bloomberg.

The EUR/USD combine was close to flat at 1.1065, whereas the GBP/USD combine inched up 0.1% to 1.3151.

The AUD/USD combine and also the NZD/USD pair each gained 0.2%.

The USD/JPY combine edged up 0.1% to 108.62.

The USD/CNY combine was very little modified at 7.0382, very little wedged by information nowadays that showed China’s producer indicant was down 1.4% year-on-year, falling for the fifth month in an exceeding row. The drop compared with the 1.5% expected decline and also the 1.6% fall.

Meanwhile, the patron indicant for Nov jumped 4.5% year-on-year, as food costs skyrocketed 19.1% amid a pestilence of African swine fever.

Re: Forex Market analysis and recent news

Johnson election victory propels United Kingdom toward swift Brexit

Britain was speeding toward Brexit on Friday once Prime Minister Boris Johnson won a crushing election victory, ending 3 years of uncertainty since the country set to depart the bloc.

Exiting the european Union, a goal Johnson has pursued relentlessly since he places himself forward because the face of the victorious "Leave" campaign in an exceedingly 2016 vote, is Britain's biggest leap into the unknown since world war 2.

Johnson is currently free to lead his country fleetly out of the vast trading coalition, however, he faces the daunting task of negotiating trade deals round the world, not least with the EU itself, and of keeping a divided kingdom in one piece.

"We can get Brexit done on time by the thirty first of Jan, no ifs, no buts, no maybes," a triumphant Johnson told cheering supporters as gray dawn stony-broke over London.

Later, he visited castle to raise Queen Elizabeth for permission to make a replacement government - a proper step needed underneath the UK's constitutional autarchy system.

Overnight, results running in from the 650 parliamentary constituencies round the UK showed that Johnson's Conservative Party had trounced its main opponent, winning 364 seats to the Labour Party's 203.

U.S. President Donald Trump was fast to congratulate Johnson.

"Britain and therefore the united states can currently be unengaged to strike an enormous new Trade Deal once BREXIT. This deal has the potential to be way larger and a lot of moneymaking than any deal that would be created with the E.U.," Trump wrote on Twitter "Celebrate Boris!"

European politicians were less enthusiastic.

"The British people have set and that we ought to settle for their selection. With Johnson's victory Brexit has become inevitable," same German leader Norbert Roettgen, of Chancellor Angela Merkel's party.

Re: Forex Market analysis and recent news

Premarket London: Sterling, FTSE Set to Open Higher on Tory Triumph

The pound and U.K. stocks were set to open sharply higher Friday when Prime Minister Boris Johnson’s conservative party scored a decisive win within the U.K. election, breaking a three-year situation over Brexit and banishing the threat of a left-of-center government with an agenda of nationalization and hostility toward abundant of the money sector.

By 2:45 AM ET (0745 GMT), the pound had settled into vary around $1.3422, some 2% up from late Thursday, albeit that was nearly 1c down from an initial 17-month high of $1.3515.

The pound conjointly rose to its highest against the monetary unit since the 2016 vote on exploiting the EU, before retracing slightly to 1.2022, a gain of 1.7%.

With forecasts inform to a Conservative majority of seventy-eight, the manner is currently clear for Johnson to pass his EU Withdrawal Bill, formally taking the U.K. out of the axis when forty-six years of membership. He’ll then have a year to barter a free-trade modify the EU before the selected transition amount ends.

In the meantime, Johnson has secured a pointy rise publically disbursal on everything from the police to hospitals and colleges and renewable energy, a program that, if enforced absolutely, would represent significant financial information.

As such, domestic-themed stocks are set for sturdy gains at the open – with homebuilders, banks, retailers and utilities all possible to be in demand.

There were no restrictive disclosures from FTSE a hundred firms on Friday.

Re: Forex Market analysis and recent news

Sterling sparkles once election poll, yuan informed trade deal reports

The pound rose to a three-and-a-half-year high versus the euro and therefore the highest in additional than a year versus the greenback once exit polls recommended a win for the Conservatives, that ought to facilitate make sure the UK's swish exit from the ECU Union.

The Chinese yuan rose in offshore trade and therefore the Japanese yen fell once a supply told Reuters that the united states and China have agreed on some tariff reductions and a delay on tariffs set to travel result on Dec. 15.

The early results recommend the election can relieve nearly four years of uncertainty about once Brexit would happen, that ought to be a subsidiary of the pound.

A fortunate scaling back of trade tension would relieve one major current of air to economic process, which suggests lower demand for the safe-haven yen. Avoiding new tariffs ought to even be a lift to China's deceleration economy, which ought to draw additional investors to the yuan.

"We've already seen a robust reaction within the pound from the exit poll," said Michael McCarthy, chief strategist at CMC Markets in Sydney.

"We additionally see an increase in available futures in reaction to 2 important items of stories for markets. this could support international growth. The yuan may also go higher, however, it depends on what quantity greenback strength we get."

Against the euro, sterling (EURGBP=D3) rose around 2% to as high as 82.80 pence, the best since July 2016, that is shortly once the Brexit vote that beat the currency.

The pound surged by 2.2% to $1.3474, reaching the best since might 2018.

The pound plunged quite 10% within the immediate aftermath of Britain's vote to depart the ECU Union in June 2016, whereas $2 trillion was wiped off world markets.

The exit poll, that recommended United Kingdom Prime Minister Boris Johnson would get a majority of eighty-six - the biggest of any Conservative leader since Margaret Thatcher won within the 1980s - ought to empower him to deliver Brexit on January. 31.

Official results are declared over the following seven hours.

Even if Brexit is completed in January. 31, there's still some uncertainty as a result of the United Kingdom will then enter a transition amount throughout that it'll negociate a brand new relationship with the remaining twenty-seven EU states.

In the offshore market, the Chinese yuan rose 0.33% to 6.9273 per greenback, once billowing on Thursday to the best since August. one because of relief a few resolutions to trade friction.

As a part of the trade deal, China has additionally united to get $50 billion of U.S. agricultural product next year, sources at home with the talks told Reuters.

The yuan rallied and therefore the yen fell late on Thursday once Bloomberg News rumored that U.S. President Donald Trump signed off on a trade manage China that may delay a brand new spherical of tariffs scheduled for Dec. 15.

A trade dispute between USA and China over Chinese trading practices that Washington says are unfair has dragged on for pretty much 2 years, creating the stand of the most important risk to the worldwide economy.

Against the greenback, the yen fell to 109.595, the weakest since Dec. 2.

The greenback index (DXY) against a basket of six major currencies fell 0.35% to 96.736, approaching all-time low since July this year.

Re: Forex Market analysis and recent news

EUR/USD eases from tops, back close to mid-1.1100s amid stronger USD

EUR/USD quickly retreats around 25-30 pips from daily topnotch.
A goodish pickup within the USD demands unbroken a lid on early gains.

The EUR/USD try didn't take advantage of its intraday positive move and quickly people around 25-30 pips from session tops touched within the last hour.

The try added to the previous session's positive move and gained some follow-through traction through the mid-European session on Tues. The transaction lacked any obvious basic catalyst and was oil-fired by some cross-driven strength stemming out of a robust upsurge within the EUR/GBP cross.

Stronger USD appeared to cap gains
Meanwhile, a goodish pickup within the U.S. greenback demand, despite a softer tone close the United States Treasuries yields, unbroken a lid on any robust follow-through. The trial continued with its struggle to seek out acceptance higher than the vital 200-day SMA, rather met with some contemporary offer at higher levels.

Despite the pullback, the trial has still managed to carry its neck well higher than the daily swing low level of 1.1129. Hence, it prudent to attend for a few robust follow-through marketing before positioning for to any extent further intraday slide amid absent relevant market moving economic releases from the United States.

Re: Forex Market analysis and recent news

Forex News: Dollar Retains Strength Amid Lockdowns; Euro Looks to ECB


The dollar was largely unchanged in early European trade Thursday, holding onto recent gains as new lockdowns in Europe to combat the surge in Covid-19 cases prompted demand for safe to havens.

At 2:55 AM ET (0655 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was flat at 93.403, having gained around 0.5% thus far in the week.

Concerns of further damage to the economic recovery have grown as French President Emmanuel Macron and German Chancellor Angela Merkel returned their countries back to lockdown on Wednesday, after recording new record levels of cases within the second wave of the Covid-19 virus.

EUR/USD was up 0.1% at 1.1746, after sliding to a one-week low of $1.1718 overnight, on speculation that the EU financial institution may move up additional stimulus - which many expect for December's meeting - to today's meeting.

“The case for even more ECB easing has strengthened further lately, but we still expect the financial institution to attend until December with further easing,” said analysts at Nordea, during a research note.

“What the ECB could do next week is to explicitly plan to a faster pace of purchases, or at the very least give clear signals that more easing will likely be future in December. The latter step is more likely than the previous, and will be enough to avoid a disappointment in financial markets,” the bank added.

It's also an important day for U.S. data, with the weekly report on jobless claims focused. Third-quarter GDP will provide for more dramatic headlines, but the info has essentially been overtaken by the events of a previous couple of weeks already.

Elsewhere, USD/JPY was largely flat at 104.28, after the dollar dropped to its lowest level in additional than a month against the safe-haven yen on Wednesday.

The Bank of Japan kept its key interest rates and asset purchases unchanged earlier Thursday, as widely expected. However, the financial institution cut its growth forecast for the year ending in March to a 5.5% contraction from a 4.7% drop, citing a delayed recovery within the services sector.

GBP/USD rose 0.2% to 1.3002, showing some strength as European Union and U.K. negotiators continue discussions over the trading arrangements between the 2 blocs, raising hopes that a Brexit deal might be reached by early November.

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