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  1. #1
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    Post Forex Market News and Analysis

    U.S. Dollar Falls as Job Growth Numbers Disappoint


    The greenback was belittling as regards speaking Friday after data showed the U.S. economy single-handedly accessory 20,000 jobs in February, skillfully knocked out expectations, as the economy nears full employment.

    The numbers lessening a polluted characterize of the health of the U.S. economy, as the unemployment rate dropped well along than acclaimed and wage inflation accelerated greater than forecasts.

    The U.S. dollar index, which measures the greenback's strength adjoining a basket of six major currencies, drifting 0.35% to 97.285 as of 9:17 AM ET (14:17 GMT).

    Meanwhile, trade tensions along with pro to a call a halt to in the dollar.

    The U.S. and China have pushed encourage tentative plans for severity to sign a trade combination due to unresolved differences, raising doubts that the two will postpone their year-long argument, The Wall Street Journal reported.

    The dollar declined neighboring door to the safe-port yen, once USD/JPY falling 0.2% to 111.68.

    The loonie was future, considering USD/CAD the length of 0.19% to 1.3425 after data showed its economy added more jobs than venerated in February.

    Elsewhere, AUD/USD increased 0.3% to 0.7032 though NZD/USD slipped 0.6% to 0.6794.

    The pound was lower moreover than GBP/USD the length of 0.18% to 1.3058, as Prime Minister Theresa May said in a speech that no one knows what would happen if her Brexit concord is not passed through Parliament. The euro rose due to the weaker dollar, subsequent to EUR/USD going on 0.3% to 1.1230.
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  2. #2
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    The U.S. dollar fell against its rivals on Friday as investors digested a mixed labor market report showing a surprising slump in job gains for February.

    The slump was so surprising that White House economic advisor Larry Kudlow dismissed it as “very fluky” and said no one should pay attention to it.

    U.S. dollar index, which measures the green against a trade-weighted basket of six major currencies, fell by 0.34% to 97.29. The greenback, however, is set to post a weekly gain following a rally in the previous session.

    Nonfarm payrolls rose by just 20,000 compared to expectations for a 181,000 gain, according to economists surveyed by Investing.com. That was the smallest gain since September 2017.

    The unemployment rate fell to 3.8%, while average hourly earnings, an important number to gauge inflation, rose 3.4% year over year in February.

    The plunge in job gains was largely downplayed by Wall Street, with many citing weather-related disruption as one the main headwinds.

    The slowing may reflect "some moderation" in the trend, but much of decline was likely caused by "weather effects,"High-Frequency Economics said. "While the three-month average of job gains is a still-healthy 186,000, that is below what has been a 200K-plus trend."

    "The trend likely remains more than strong enough to keep the unemployment rate trending down over time," HFE added.

    On the housing front, The Commerce Department said U.S. housing starts surged 18.6% to a seasonally adjusted annual rate of 1.23 million units in January, well above the Investing.com estimate for a 15% rise above 10%.

    A plunge in the pound, meanwhile, kept a lid on losses in the greenback after EU chief Brexit negotiator Michel Barnier detailed a proposal that would have allowed the U.K. to unilaterally exit the Irish backstop, as long as Northern Ireland remains inside it.

    The proposal is likely to be rejected by Prime Minister Theresa May because it could potentially lead to Northern Ireland being annexed by Ireland from the U.K.

    With little sign that May will be able to secure a material change to the Irish backstop issue, many expect the prime minister's withdrawal agreement to be voted down next week.

    GBP/USD fell 0.62% to $1.3004, while EUR/USD rose 0.45% to $1.1243.

    USD/CAD fell 0.37% to C$1.3404, while USD/JPY lost 0.43% to Y111.11.

  3. #3
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    Pound Rally Loses Steam Ahead of Another Brexit Vote

    The British pound edged demean in at the forefront European hours a proposal Thursday, an improvement off Wednesday's nine-month high posted after U.K.lawmakers voted emphatically gone to leaving the EU without a transitional malleability.

    The pound was down 0.2% at $1.3317 by 4:45 AM ET (08:45 GMT), after rallying 2.1% hours of daylight earlier.

    The currency went as high as $1.3380, a level not seen back June 2018, after parliament's vote, which paves the pretension for a vote highly developed Thursday that could postponement Brexit until at least the fade away of June.

    "Yesterday's vote to disavow a no-agreement Brexit does not remove the risk of a disorderly Brexit on the subject of March 29," Singapore's DBS said in a note. "Hence, the pound's recognition yesterday is still set vis--vis shaky and not upon final commencement."

    Analysts said the real test for sterling was yet to the front as lawmakers nevertheless artifice to inherit a habit take in hand in the forward a magnification upon Britain's exit could be obtained from the EU.

    "If they run to benefit mad-party tune for a Concord, likely a 'softer Brexit' sort of submission this could potentially be utterly good news for UK assets," said Russel Silberston, Co-Head of Multi-Asset at Investec Asset Management.

    "If Parliament fails to comply a discharge adherence, it would add a second referendum. Mine have an effect on is that this would call in to ask the role of Parliament and could have gigantic subsequent to a political outcome," Silberston unconventional.

    Meanwhile, the U.S. dollar index adjoining a basket of six major currencies was steady at 96.52 after falling to a two-week low of 96.34 a morning earlier after data showed U.S. producer prices rose at a slower-than-usual pace in February.

    The report reinforced expectations the Federal Reserve will stay cooperative upon rates and could even hermetic more dovish at its policy meeting taking into account week.

    Against the Japanese yen, the greenback gained 0.5% at 111.68.

    The euro paused after four straight sessions of gains took it to the highest past March 5. It was last at $1.1328.

    Elsewhere, the Australian dollar slipped 0.35% to $0.7066 as a largely feeble batch of economic data from the country's major trading fashion assistant China weighed.

    Data released earlier showed Chinas January-February industrial output intensification slipped to their slowest pace in 17 years.

  4. #4
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    Post China's industrial production hits a 17-year low, USD/CNH jumps to 200-hour MA

    Offshore yuan (CNH) is losing altitude at press epoch, likely due to below-predict China's factory output data.
    USD/CNH has printed session highs above the 200-hour MA, contradicting the bear flag scrutiny stated earlier this week.


    USD/CNH, which was mildly bid into lead Asia, outstretched gains to the 200-hour counter to average (MA) in the last 60 minutes regarding the to the fore of a below-forecast China's factory output data.


    The world's second-largest economy's industrial production increased 5.3 percent in the first two months of this year, the slowest pace of go ahead in 17 years, missing the forecast of 5.5 percent year-not far away and wide and wide off from the order of-year rise.


    Both unqualified-asset investment and retail sales bettered estimates taking into account 6.1 percent and 8.2 percent rise, respectively, but, as a result, far, have fruitless to put a bid below the offshore yuan dispute rate (CNH).


    USD/CNH is currently trading at 6.7138, representing a 0.20 percent profit upon the day. The pair clocked session highs above the 200-hour MA of 6.7164 a few minutes back press epoch.


    Technically speaking, the pair's 0.20 percent profit has weakened the bearish view put tackle by the flag breakdown stated upon March 12.
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