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Thread: EUR USD

  1. #571
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    GBP/JPY LACKING DIRECTION, UK CPI DATA ON THE DOCKET FOR TODAY

    • GBP/JPY indecisive in Tokyo trading.
    • UK CPI data due at 09:30 GMT today.

    GBP/JPY is stepping lightly in Asia markets, fidgeting around 150.42 following a flat Monday.
    The pair has had a rough go of things lately, closing lower or flat for six of the last seven trading days. With the threat of interest rate increases looming on the horizon, traders have been flighty and prone to fits of risk aversion, dumping equities and risk assets in order to pile into safe havens. With the UK showing steady upticks in economic growth and the Bank of England (BoE) preparing to begin tightening their monetary policy, the era of easy money for global markets is set to end, leaving risk appetite in a precarious position.
    The UK will be dropping their CPI data today at 09:30 GMT; a slight contraction in price growth is anticipated by market forecasts, with analysts calling for a 2.9% reading compared to the previous 3.0%.
    Read more : http://www.xtreamacademy.com/forex-n...-docket-today/






  2. #572
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    USD/JPY DROPS IN TANDEM WITH NIKKEI, WEAKEST SINCE NOV 2016

    • Tracks Nikkei 225, DXY lower.
    • Profit-taking ahead of the US CPI?

    The bears regained control after a brief recovery seen in the USD/JPY pair, now pushing the rates southwards in a bid to print the lowest levels since November 2016.
    USD/JPY headed to 107.00
    The spot is seen replicating the moves witnessed in Asia a day before, as risk-aversion seeps back into markets, with the Asian equities crumbling again alongside oil prices. Japan’s benchmark index, the Nikkei 225 sinks nearly 0.90% to 21,053 points while Treasury yields dive across the curve, in turn adding to the downslide.
    The major also faces a double whammy from broad-based US dollar weakness, as the buck tracks Treasury yields lower amid a sense of caution ahead of the key US CPI figures, which are likely to shape up the Fed’s rate hike outlook this year.
    Meanwhile, the JPY markets appear to have shrugged off the disappointment in the details of the Japanese Q4 GDP report, which showed that the preliminary Q4 GDP arrived at 0.1% q/q vs. 0.2% expected.

    Read more : http://www.xtreamacademy.com/forex-n...ince-nov-2016/






  3. #573
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    USD/JPY – ASO’S COMMENTS KILL THE TECHNICAL RECOVERY

    • Yen regains bid after Aso talks down need for FX intervention.
    • USD/JPY drops 30 pips from 106.89.

    The technical recovery in the USD/JPY pair fell apart at 106.89 as the Japanese Yen picked up a bid after Japanese Finance Minister Aso played down the need for FX intervention.
    Speculation has been gathering pace that Yen appreciation may not go down well with the authorities in Tokyo. However, Aso’s comments indicate the policymakers are comfortable with the recent appreciation of the Japanese Yen.
    So, for the time being, the JPY bulls have little reason to fear. That said, the technical charts show oversold conditions. The daily RSI has hit the oversold territory. Further, risk reversals have diverged from the spot, indicating a drop in the premium claimed by JPY calls (bullish bets) over JPY puts (bearish bets).
    Also, the 10-year treasury yield continues to rise and more importantly the US stock market has remained resilient. Hence, caution is the name of the game for the JPY bulls.

    Read more : http://www.xtreamacademy.com/forex-n...ical-recovery/






  4. #574
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    AUD/USD BIDDING HIGHER IN ASIA TRADING, PUSHING INTO 0.7955

    • AUD/USD up on USD selling in Tokyo.
    • RBA Gov Lowe doesn’t see a rate increase any time soon.

    AUD/USD is continuing to climb on thin trading volumes, testing into 0.7955 as of writing.
    The pair experienced a choppy Thursday following Wednesday’s Greenback plunge as inflation within the US economy begins to heat up, with month-over-month CPI data beating both previous the previous reading and median market forecasts. The Aussie’s growth in recent days, closing higher against the US Dollar in four of the last five consecutive trading days, owes itself largely to the broad-market selling of the USD rather than any internalities from Australia.
    The Reserve Bank of Australia’s Governor, Philip Lowe, appeared before parliament’s Standing Committee on Economics where he reiterated the RBA’s holding pattern in the face of sluggish economic growth and mixed data. With inflation struggling to make a decisive appearance, the RBA has no choice but to hold steady on their monetary easing policies, even as major global competitors are racing to begin tightening their belts and raise interest rates.

    Read more : http://www.xtreamacademy.com/forex-n...ushing-0-7955/






  5. #575
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    USD/JPY – STUCK IN A 40-PIPS RANGE

    • Stuck in 106.00-106.40 range.
    • Risk reversals retrace JPY call bias.

    USD/JPY has been restricted to a narrow range of 106.00-106.40 since Friday’s late NY trading and the risk reversals indicate the range could be breached on the higher side.
    As of writing, the spot is trading at 106.23, having clocked a high of 106.37 and a low of 106.10. The pair hit a low of 105.55 on Friday before moving back above 106.00 on chart factors (oversold conditions). Also, the options market indicates the premium held by JPY calls (bullish bets) over JPY puts has dropped over the last few days.
    The one-month 25 delta risk reversals are being paid at JPY 2.025 calls vs. JPY 2.425 calls on Feb. 12. Also, weekly risk reversals are being paid at JPY 1.53 calls vs. JPY 2.50 calls. The decline in demand for JPY calls (as highlighted by the drop in premium) could be an indication the investors are expecting a corrective rally in the USD/JPY spot.
    So, the 40-pip trading range could end with an upside break. That said, the fears of a full-blown trade war between the US and China could keep Yen losses under the check.

    Read more : http://www.xtreamacademy.com/forex-n...40-pips-range/






  6. #576
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    AUD/USD FINDS BIDS SUB-0.7900, RBA MINUTES, FIRMER DXY STILL WEIGH

    • Clings to key support near 0.7890.
    • USD firmer in thin markets.
    • RBA talks down AUD strength.

    Fresh bids emerged once again near the 0.7890 support area, allowing a tepid bounce in the AUD/USD pair back above the 0.79 handle, as markets assess the minutes of RBA’s January February meeting.
    AUD/USD: Focus shifts to Aus construction and wages data
    The spot came under fresh selling pressure last hour and fell back below the 0.79 handle, in a delayed reaction to the RBA’s Feb monetary policy meeting minutes, which reiterated that a rising AUD would impede pick-up in economic growth, inflation while adding that Low rates helping reduce unemployment, lift inflation. These RBA headlines suggested that the Australian central bank could very well remain in a wait-and-see mode in the near-term before future rate hikes.
    Moreover, a fresh bout of the USD buying across the board, helped by rising Treasury yields, also knocked-off the major in a bid to test the key support. However, the bulls held on to the technical support, now pushing the rates above the 0.7900 levels.

    Read more : http://www.xtreamacademy.com/forex-n...y-still-weigh/






  7. #577
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    AUD/USD FALLS BACK DOWN FOLLOWING CONSTRUCTION DATA DISAPPOINTMENT

    • AUD/USD retreats on construction miss.
    • USD getting a push from bond yields.

    AUD/USD has dropped lower again following a pick up in early Tokyo trading, and the pair is currently back down below 0.7880.
    The Aussie slipped against the Greenback after a disappointment in the Construction Work Done figures for the 4th quarter of 2017, coming in at a 19.4 contraction, widely missing the median market forecast of a 10% decline, and a deep correction from the previous reading of 16.6%. While Wage Price Index data posted a mild beat over forecasts with year-on-year posting 2.1% versus the anticipated 2%, mixed economic data points for Australia continues to pigeonhole the Reserve Bank of Australia (RBA) in wait-and-see mode. Headline growth figures for Australia continue to lag behind global trends, and the RBA is left in a holding pattern, unlikely to raise key rates into 2020 while central banks around the world prepare to begin tightening their respective easy fiscal policies and prepare to fight inflation.

    Read more : http://www.xtreamacademy.com/forex-n...isappointment/






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