FOREX Trading

ECB rate pledge boosts stock markets

That sent the euro lower, while government bonds rallied. “We were expecting an ECB tapering announcement, but not a commitment to keep rates unchanged until at least the summer of 2019,” according to Deutsche Bank’s global co-head of foreign exchange research, George Saravelos. “While the market has not been pricing a rate hike until later next year, we view the introduction of calendar-based guidance as a material negative development for the euro,” he added. ECB president Mario Draghi said that…

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ECB hammers the euro lower and gives rise to fresh highs in DXY

FX today was seeing a further spike in the dollar and EUR/USD worts performance in two-years after the ECB left the prospects for an interest rate rising disappearing over the horizon and downgrading its assessment of the economy in 2018.  It is evident that synchronized global growth theory is more biased to the US economy in reality, while the Fed’s position stands in stark contrast to that of other central banks, offering the dollar a boost. DXY rallied between a…

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Macau | Forex reserves remained unchanged in May

Macau (MNA) – The city’s foreign exchange reserves remained unchanged in the month of May compared to the previous month, amounting to MOP153.2 billion (US$18.97 billion). The latest data released by the Macao Monetary Authority shows that the reserves at end-May represented 10 times the currency in circulation or 80.9 per cent of pataca M2 at end-April this year. The city saw an increase of 1.77 points month-on-month in the trade-weighted effective exchange rate index for the pataca but the…

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Dollar Rides Strong U.S. Retail Sales, Euro Slump to 2-Week High By Investing.com

© Reuters. Investing.com – The U.S. dollar rallied to a two-week high against its rivals Thursday as a rout of the euro prompted traders to buy the greenback after the European Central Bank said it would leave interest rates unchanged until the summer of 2019. The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose by 1.05% to 94.54. The European Central Bank said it would wind up its bond-buying programme in December but…

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Pepsi boss bemoans forex shortages

Ndakaziva Majaka  •  14 June 2018 3:35PM  •  0 comments HARARE – Zimbabwe needs to fix its foreign exchange shortage if it is to attract more investment, RJ Corporation chairperson Ravi Jaipuria said. RJ Corporation owns Varun Beverages which in turn holds the PepsiCo licence in Zimbabwe. He told journalists that while his group was not in a hurry to repatriate, investors needed the certainty of fund repatriation in an investment destination. “The forex availability issue…

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Sterling Hits Day’s Highs on Upbeat UK Retail Sales Data By Investing.com

© Reuters. Sterling hits day’s highs on upbeat UK retail sales data Investing.com – The pound rose to the day’s highs on Thursday after data showing that UK retail sales outstripped forecasts in May as good weather and the Royal Wedding boosted consumer spending. was up 0.49% to 1.3442 by 05:03 AM ET (09:03 AM GMT), from around 1.3396 ahead of the report. jumped by a far larger-than-expected in May, the Office for National Statistics said, while the figure for…

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Asian shares slip on Fed hike, trade fears and soft China data

TOKYO (Reuters) – Asian shares eased on Thursday after the Federal Reserve raised interest rates and took a more hawkish tone in forecasting a slightly faster pace of tightening, while concerns about U.S.-China trade frictions kept investors on edge. FILE PHOTO: A man walks past electronic boards showing Japan’s Nikkei average (L), the Dow Jones Industrial Average (2nd L) and foreign exchange rates outside a brokerage at a business district in Tokyo, Japan August 9, 2017. REUTERS/Kim Kyung-Hoon Chinese retail…

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Merval Falls 1.67% With Fed And FX Market

(Agencia CMA Latam) – Merval, the main index of the Buenos Aires Stock Exchange, closed with a strong decline (-1.67%), to 30,233.58 points, tracking foreign markets. The monetary policy decision by the United States Federal Reserve (Fed) announced today and the movement of the locally traded U.S. dollar in recent days were the topics highlighted among investors. The Fed raised the basic interest rate of the United States by 0.25 percentage points (pp), for the interval between 1.75% and 2.00%…

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FOMC raised rates by 0.25% and signals 2 more in 2018

Forex news for NY traders on June 13, 2018 In other markets, the snapshot at the end of day is showing: Spot gold is higher by $3.40 or 0.26% at $1299.35 WTI crude oil futures are higher by $.27 or 0.41% at $66.63. The price rise was helped by a drawdown in inventories earlier today Bitcoin continued to move lower. It is trading down $280 at $6256. There was a research report suggesting manipulation in the price of the digital…

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Hawkish Fed Boosts US Dollar But Tariffs Bring Currency Down to Earth

The US dollar is lower against major pairs after the U.S. Federal Reserve raised the benchmark Fed funds rate by 25 basis points on Wednesday. The move was heavily anticipated by the market, but the strong pace of the US economy could mean more rate hikes. The latest projections from the US central bank now have 8 Fed official forecasting four rate hikes in 2018. The USD gained as soon as the projections and the rate announcement were public, but…

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Brazil watchdog fines Morgan Stanley, Royal Bank of Canada for forex manipulation

BRASILIA (Reuters) – Brazil’s antitrust watchdog on Wednesday fined Morgan Stanley (MS.N) and Royal Bank of Canada (RY.TO) a total of 42.9 million reais ($11.6 million) for meddling with foreign exchange rates charged to clients. FILE PHOTO: The corporate logo of financial firm Morgan Stanley is pictured on a building in San Diego, California, U.S., September 24, 2013. REUTERS/Mike Blake/File Photo The board of regulator Cade unanimously approved a proposal to fine Morgan Stanley 30.280 million reais and RBC 12.586…

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Parl. passes amendment bill on fighting forex smuggling

Of the 220 present MPs, 137 voted in favor of the bill, 43 voted against, while 8 lawmakers abstained. Mohammadreza Pour Ebrahimi, a member of the Parliament’s Economic Commission said about the bill that the Commission had consulted and had held several meetings with different government bodies to tackle foreign exchange smuggling. Ebrahimi said that they have joined hands with the government to combat the smuggling of foreign exchange more seriously. He said that they are going to work on a…

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EUR/USD Forex Double Top Bear Flag In Trading Range Ahead Of FOMC

The daily Forex chart reversed up to the EMA after consecutive sell climaxes. At least 2 legs sideways to up are likely over the next 1 – 3 months. The bulls have a High 2 bull flag, but today’s is the more important than the chart patterns today. The EUR/USD daily Forex chart rallied strongly to resistance after sell climaxes. This is the 1st pullback to the EMA after more than 20 days and therefore a 20 Gap Bar sell…

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AUD/USD Forex Technical Analysis – June 13, 2018 Forecast

The Australian Dollar is trading higher shortly after the U.S. opening on Wednesday. The currency is recovering from early session weakness, fueled by short-covering and position-squaring ahead of the release of the Fed interest rate decision and monetary policy statement at 1800 GMT. At 1110 GMT, the AUD/USD is trading .7582, up 0.0008 or +0.10%. Generally speaking, a hawkish Fed will be bearish for the AUD/USD. It all depends on the Fed’s future rate hike projections. Daily AUD/USD Daily Swing…

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