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Thread: EUR USD

  1. #581
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    EUR/USD losing the grips around 1.2270 ahead of PMIs




    After advancing to the boundaries of 1.2300 the figure in early trade, EUR/USD lost some upside traction and is now flirting with the area of session lows in the 1.2270/65 band.




    EUR/USD looks to PMIs and US yields:-
    Spot is losing ground for the third session in a row so far at the beginning of the week and trades at shouting distance from Friday’s lows in the mid-1.2200s, all amidst a firm buck and higher yields in the US money markets.


    In fact, yields of the key US 10-year reference are extending the up move on Monday and are trading closer to the psychological 3.0% level, always against the backdrop of solid risk-on sentiment.


    Later in the day, advanced April’s manufacturing and Services PMIs in the euro area should dictate the mood around the single currency. Across the pond, Markit will deliver its flash reading on Manufacturing PMI seconded by Existing Home Sales.


    From the speculative community, EUR net longs climbed to the highest level since later December 2011 in the week ended on April 17 according to the latest CFTC report.

  2. #582
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    AUD FALLS ON CHINA GDP AS NBS SEES EXTERNAL UNCERTAINTIES AHEAD
    TALKING POINTS:

    • Australian Dollar depreciates despite solid Chinese second quarter GDP
    • Weaker industrial production amidst US Chinese import tariffs hurt AUD
    • China’s NBS does see more external uncertainties for the economy ahead

    The Australian Dollar depreciated against its major counterparts despite some relatively solid Chinese second quarter growth statistics. China’s economy expanded 6.7% y/y which was in line with expectations and slower than the 6.8% growth seen in the first quarter. Quarter-over-quarter, China’s GDP was 1.8%. This was better than the +1.6% estimate and up from 1.4% prior.
    Overall, these economic growth statistics were largely as expected and nothing extraordinary out of the realm of possibilities. Yet, what could have caused some weakness in the Aussie Dollar? And for that matter, the New Zealand Dollar as well? Look no further more than the industrial production figures which also crossed the wires simultaneously with the GDP data.
    In June, Chinese industrial production increased only 6.0% y/y versus 6.5% anticipated and 6.8% in May. That was the weakest outcome since March and continues a trend of slowing expansion since April. Perhaps the tariffs US applied on China could be having some effects here. In fact, accompanying the slew of data were some comments from the National Bureau of Statistics of China.
    Read more:www.xtreamforex.com

  3. #583
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    BITCOIN CASH, LITECOIN AND RIPPLE DAILY ANALYSIS
    While it’s a positive start to the day, it’s going to need to be a spectacular end to the weekend for the majors to see their losses from the week reversed. Uncertainty over what lies ahead from a regulatory standpoint remains the key issue for the market.
    Bitcoin Cash Back at $700 Levels

    Bitcoin Cash gained 1.4% on Saturday, following Friday’s 0.77% rise, to end the day at $701.9.
    Friday’s late reversal continued through the morning, with Bitcoin Cash falling to an intraday low $685.5 before moving back through to $700 levels, the day’s first major support level at $679.97 left untested on the day.
    An afternoon recovery saw Bitcoin Cash break through the first major resistance level at $709.07 with an intraday high $713 before easing back, Bitcoin Cash managing to hold on to $700 levels, though plenty of resistance pinned Bitcoin Cash back from an early weekend rally.
    At the time of writing, Bitcoin Cash was up 0.25% to $703.3, with Bitcoin Cash recovering from an early dip to a morning $697.6 low, which held above the day’s first major support level at $687.27, to a morning high $704.8.
    For the day ahead a move, through to $705 would support a run at the day’s first major resistance level a $714.77, with the second major resistance level at $727.63 in play should market sentiment improve through the morning.
    Read more:www.xtreamforex.com

  4. #584
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    USD/JPY FUNDAMENTAL DAILY FORECAST – U.S. RETAIL SALES EXPECTED TO RISE 0.4%
    On Monday, the USD/JPY is going to continue to be sensitive to U.S. Treasury yields and appetite for risk. The Forex pair could continue to climb if tensions rise due to increasing concerns over the trade dispute between the United States and China. This is because investors are treating the dollar like a safe haven asset. Trading is light early Monday because of a bank holiday in Japan. At 1230 GMT, the U.S. is scheduled to release reports on Core Retail Sales, Retail Sales and Empire State Manufacturing Index. At 1400 GMT, Look for a report on Business Inventories.
    The Dollar/Yen is trading slightly lower early Monday. Traders are reacting to firm demand for higher risk assets and slightly higher U.S. Treasury yields. On Friday, the yen recovered from a six-month low against the Greenback.
    At 0047 GMT, the USD/JPY is trading 112.429, up 0.080 or +0.07%.
    Last week, the Dollar/Yen was driven higher in reaction to robust U.S. producer and consumer inflation data that supported the Fed’s plan to raise interest rates at least two more times in 2018. Upbeat comments on the U.S. economy from Federal Reserve Chairman Jerome Powell also stoked demand for the dollar.
    Last Thursday, Fed chief Powell said in a Marketplace radio interview he believes the U.S. economy remains in a “good place,” with recent government tax and spending programs likely to boost growth for perhaps three years.
    On Friday, the Fed released its semiannual report on monetary policy before Powell’s scheduled testimony to Congress this week on Tuesday and Wednesday. The report showed solid U.S. economic growth and the Fed expecting to keep raising rates gradually.
    Read more:www.xtreamforex.com

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