FOREX Trading

Forex, Dow Jones Levels: January 8, 2018

Today’s support: – 1.1700, 1.1678, 1.1657 and 1.1643(main), where correction is possible. Break would give 1.1616, where correction also may be. Then follows 1.1593. Break of the latter would result 1.1565. If a strong impulse, we would see 1.1543 and 1.1514.Today’s resistance: – 1.1750(main), where correction is possible. Break would bring 1.1768, where a correction is possible. Then goes 1.1790. Break of the latter would result 1.1813. If a strong impulse, we would see 1.1836. Today’s support: – 135.90, 135.62,…

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China December forex reserves rise to $3.14 trillion, highest since September 2016

BEIJING (Reuters) – China’s foreign exchange reserves rose to their highest in more than a year in December, blowing past economists’ estimates, as tight regulations and a strong yuan continued to discourage capital outflows, central bank data showed on Sunday. Notching up their 11th straight month of gains, reserves rose $20.2 billion in December to $3.14 trillion, the highest since September 2016 and the biggest monthly increase since July. That compares with an increase of $10 billion in November. Economists…

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Yohay Elam Blog | GBP/USD: Looking For 1.40 in Q1 On 2 Key Factors – ING

Where is GBP/USD going? It hasn’t been able to rally beyond the moves driven by the dollar’s weakness, but hasn’t fallen either. What’s next? Here is ING’s view, courtesy of eFXnews: ING FX Strategy Research discusses the GBP outlook, and thinks that sterling is likely to reach 1.40 in Q1 of 2018 as as UK economic pessimism fades. “We see two factors dictating the pound’s narrative in the short-term: (1) Domestic UK politics and (2) The Bank of England’s policy path. On the former,…

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Argentine stock market reaches a new record, 13th session running of gains — MercoPress

Argentine stock market reaches a new record, 13th session running of gains Saturday, January 6th 2018 – 09:45 UTC Friday’s stock market rise occurred in spite a temporary profit-taking again during the midday Vehicle output fell by 17% in December from the same period of 2016, and dropped 26.4% compared to November, totaling 33,280 units, reported (Adefa). Good and not so good news from Argentina. Merval, the main index of the Buenos Aires Stock Exchange, rose 0.79% to 32,505.59 points…

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EMERGING MARKETS-Emerging stocks roar into 2018 with…

By Karin Strohecker LONDON, Jan 5 (Reuters) – Emerging stocks and currencies had a strong start to the year fuelled by solid growth numbers, perky commodity markets and a tepid dollar with equities on track for the best weekly performance since July. MSCI’s emerging market index rose 0.4 percent to take weekly gains to 3.4 percent – the best start to a new year since 2006. Asia ex-Japan shares hit a fresh decade high, hovering close to an all-time record…

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GLOBAL MARKETS-Stocks scale new record highs, dollar stuck – Macroeconomic News

* World stocks hit fresh highs * Dollar stuck near four month low vs euro * Investors prepare for U.S., euro zone inflation reports * Oil slips from recent highs * Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh By Tommy Wilkes LONDON, Jan 5 (Reuters) – World stocks scaled fresh record highs on Friday after more data pointed to the strength of the world’s largest economy, while the dollar was stuck near four-month lows ahead of crucial payroll numbers. Global…

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Aussie Ticks Higher Ahead Of Trade Data, Nonfarm Payrolls Awaited By Investing.com

© Reuters. Aussie up in ASia Investing.com – The Aussie rose slightly in early Asia on Friday ahead of trade figures with the big focus of the day on US with analysts forecasting a gain of 190,000 jobs. traded up 0.01% to 0.7865, while changed hands at 112.78, up 0.03%. Australia reports its for November with an A$550 million surplus seen. The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last quoted down…

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EMERGING MARKETS-Solid U.S., China data lifts emerging…

By Claire Milhench LONDON, Jan 4 (Reuters) – Fresh evidence that the world’s top two economies were on a solid growth track pushed emerging stocks to fresh 6-1/2 year highs on Thursday, while higher oil prices underpinned crude exporters. Global equities hit a new high following record closes on Wall Street on Wednesday,, helped by robust growth numbers and a rally in energy stocks. Tensions in key oil producer Iran and ongoing OPEC-led output cuts have pushed oil prices to…

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Most Asian currencies fall as dollar rebounds; baht, rupiah rise | Money

The Malaysian ringgit shed as much as 0.3 per cent against the dollar. — Reuters picBENGALURU, Jan 4 — Most Asian currencies slipped against the dollar today after upbeat US economic data, plus minutes from the Federal Reserve’s December policy meeting, spurred some recovery for the weak greenback. The dollar rose on better-than-expected US December factory data, and was further boosted after minutes of the Fed minutes showed a more hawkish stance about the US economy than some anticipated. “Today’s…

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GBPUSD retests broken trend line, but sellers more in control

Line cuts across at 1.3544 today. The 1.3532 was the post-Brexit high from 2016.  The GBPUSD has rotated lower after surging higher on the first trading day of the year yesterday. That move was the 5th up day in a row. The price moved from 1.3346 to a high today of 1.3612.  The move higher took out the highest post Brexit high from 2016 at 1.3532 and also moved above a trend line. That trend line cuts across today at…

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Aussie, Kiwi Edge Lower Against Greenback By Investing.com

Aussie and kiwi slip vs. greenback in late trade Investing.com – The Australian and New Zealand dollars edged lower against their U.S. counterpart on Wednesday, as the mildly recovered from recent losses for the first trading week of the year. was down 0.17% at 0.7817, just off the previous session’s two-month peak of 0.7845. The U.S. dollar weakened in 2017 as the global economy gained momentum fueling expectations for tighter monetary policy in other countries, which would lessen the divergence…

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Rupee climbs to fresh 30-month high of 63.48 on sliding dollar

The rupee shot up to end at a nearly 2-1/2 year high of 63.48, surging by 20 paise against the US dollar as the bullish momentum continued strongly for the fourth-straight day driven by upbeat hopes on the macro front. Extremely bearish greenback sentiment has been one of the key factors driving the rupee higher at this juncture. Besides, heavy dollar unwinding by speculative traders and exporters further supported the strong run-up to its multi-year highs. This is the best…

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Kenya overtakes America as leading source for visitors to Tanzania

By MARYANNE GICOBIMore by this Author The number of Kenyans visiting Tanzania has increased, surpassing the US as the largest source market for the country in 2015. Data from Tanzania’s Immigration Services Department released in October revealed a “notable increase” in the number of visitors from Kenya, at 233,730 — an increase of 36,000 from the 2015 figures. In 2016, 86,860 Americans visited Tanzania, followed by 69,876 Indians and 67,642 Britons. Tanzania is a popular tourist destination as it is…

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FMDQ Trades $10.38billion FX Futures as 18th Contract Matures

The FMDQ OTC has so far traded OTC FX Futures contracts worth $10.38 billion, as the Central Bank of Nigeria, CBN, sustained its commitment to the market. As it has been the norm for 17 maturities on FMDQ, the OTC FX Futures Exchange, the 18th OTC FX Futures contract matured and settled successfully on December 27, 2017. Having ceased trading on December 20, 2017, in line with the OTC FX Futures Market Operational Standards, the 18th OTC FX Futures contract,…

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U.S. Dollar Refuses To Die As Top Global Reserve Currency

Central banks are leery of the newly arrived Chinese yuan. Over the decades, there have been a number of efforts to deflate the dollar’s hegemony as a global reserve currency, which it has maintained since World War II. Some of these efforts – such as the creation of the euro – have made a visible dent into the dollar’s status. Other efforts have essentially passed unnoticed. Now there’s a new contender: the Chinese yuan. On December 31, the IMF released…

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