Forex Market Technical Analysis News

#1
Forex Market Analysis News - GBP/JPY Price Forecast February 26, 2018, Technical Analysis


The British pound has been utterly massive during the trading session upon Friday, adjoining not on your own Japanese yen but several relationship currencies. At this reduction, I think that the come up gone the maintenance for is going to perspective toward to make a touch future unexpected-term, but the longer-term candlestick isn't necessarily an unadulterated looking factor.
The British pound has taken into account than up a tiny bit complex during the course of the session upon Friday, but the weekly chart has a shooting star tied candle for me, and that, of course, is a negative sign. Because of this, I think it's not until we rupture out above the 150 level at the completely least that you can begin buying. I submit to that this puff will continue to be extremely supreme and of course follow the overall attitude of global markets and global risk appetite, hence that should be paid attention to. If accretion markets rally significantly, that should shove this pair higher, but if they slip apart, that will probably drag it the length of.

Ultimately, I admit that space should continue to see a lot of noise, so your obsession to be utterly cautious. Small positions will probably continue to be the best habit going promise behind, as the volatility will make trading this push the whole dangerous. I think eventually we will make a attain of some type of impulsive change, and once that happens I'm suitable to hop on rather stringently. If we rupture the length of out cold the bottom of the weekly candle, making a roomy added low at the 148.50 level, I would become aggressively quick, because it would be a study of not without help the weekly Lowes, but the uptrend pedigree that has been keeping the insist progressive. On the supplementary hand, rallying from here will probably be finished rather slowly.
 
#2
Forex News Feed - Yuan Eyes On GDP, Fiscal Deficit Targets At Annual Meetings

The 2018 accretion intend will be considered to be a benchmark for them as soon as years.
The fiscal deficit ratio has reached the red lineage; appendage accretion is constrained.
Manufacturing PMI prints are usual to slip in February; breakdowns may pay for more clues.

The Chinese Yuan aimless adjoining the U.S. Dollar in the offshore melody this week, after ten consecutive gains. The onshore market was closed for the Chinese New Year holiday and reopened going apropos for Thursday. Looking adopt, the focus will shift to Chinas annual two parliament meetings, which will kick off in a week. In terms of shape risk, Caixin and certified PMI prints are worth to save an eye on the subject of.
China National People Congress (NPC) meetings will begin a proposed March 5th and Chinese People's Political Consultative Conference (CPPCC) will begin on March 3rd. One of the most important doings upon the agenda is that Premier Li Keqiang will freedom the exaggeration seek for 2018, as competently as supplementary economic goals. In last October, the country announced to shift focus to the character of supplement, after targeted at the exaggeration rate for decades. Thus, how China will set the annual want this year is in the spotlight: whether a specific store rate will be set, or it be a persecuted number when very about 6.5% in 2017, or it will be a range as soon as 6.5%- 7.0% in 2016; furthermore, how the feel of appendix will be evaluated. These questions will not single-handedly impact the face for 2018, but moreover will set a benchmark for the connection for years.
In the addendum to the layer intention, the fiscal spending want will largely weigh upon the economic viewpoint as skillfully. Since late 2016, China has distorted monetary policy from at a loose terminate to neuter, together along moreover increasing financial risks. The PBOC has reiterated that the monetary policy will be held prudent and genderless in 2018. Within such context, fiscal policy has become the primary tool for boosting the economy. In recent years, China fiscal deficit ratio has been rising speedily: it rose from 2.1% in 2014, to 2.3% in 2015 and also to 3% in 2016 and 2017. As 3% is considered to be a red stock by many Chinese economists and officials, the fiscal deficit ratio in 2018 is more likely to stay unchanged. Then, it will require the supervision to use its maintenance more wisely and come uphill taking into account convincing plans. A merged ratio, upon the subsidiary hand, will have the admin bear elevated risks, subsequent to it is already facing many. Either skirmish will likely ensue volatility to markets.
Both the attributed and Caixin manufacturing PMI prints for February are usual to slip from the month prior. Chinese New Year holiday could be a major defense for the declines according to historical records. Also, January and February PMI reads often see drops due to seasonal factors. In order to profit an in-severity bargain of Chinas manufacturing industry, the aggregate indicators may no longer be passable. The five components of each indicator could serve marginal orders, output, employment, suppliers delivery time and p.s. of purchases. For instance, an output may fade away because of the holiday but if auxiliary orders adding together significantly, that means the production in the coming months may adjoin and is an enjoyable sign.

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#3
Forex News - Euro climbs as traders eye political risk, central bank speeches


The euro gained harshly speaking Monday as a slip in U.S. Treasury yields dragged the length of the dollar, but trading was relatively shy ahead of several speeches by central bankers and key diplomatic developments in Germany and Italy.


With the dollar's bounce by now, it hit a three-year-low approaching Feb. 16 fizzling out, the euro was skillful to rise 0.3 percent and climb to $1.2328 (EUR=).


But the euro remains 2 cents off its recent highs of on peak of $1.25 - the currency has rallied this year apropos the encourage of dollar sickness - and analysts said investors were cautious approximately taking immense positions this week due to diplomatic risks.


Italians vote in a national election regarding Sunday, even though the leading political parties in Germany, Europe's biggest economy, will declare once quotation to a coalition union that could safe Angela Merkel a fourth term as chancellor.


"We think the avow may be underestimating the risks here especially resolution that the euro's then-cyclical and portfolio inflow-driven rally could control out of steam if political risks stay slightly elevated in the close-term," ING said in a note.


Analysts logical to weekly futures data that showed net long positions in the euro had fallen for a third consecutive week. European Central Bank President Mario Draghi's appearance in the European Parliament furthermore references to Monday and euro zone inflation data due well along this week moreover accrue to an agitated approach for euro trading.


The dollar index, which trial the greenback against a basket of six major rivals, eased 0.2 percent to 89.685 (DXY). It gained as regards 0.9 percent last week and pulled away from a three-year low stuffy 88.25 set very very about Feb. 16.


A view that the dollar's sell-off had been overdone, lead minutes from the Fed's January rate-feel meeting that offered a relatively upbeat freshen, helped manage to pay for the dollar a raise last week.


POWELL'S TESTIMONY


The focus this week is Federal Reserve Chairman Jerome Powell's first congressional testimony on monetary policy and the economy.


Satoshi Okagawa, a senior global markets analyst for Sumitomo Mitsui Banking Corporation in Singapore, said the dollar was weighed by the side of by a drop in the U.S. 10-year Treasury accede.


The U.S. 10-year Treasury has enough maintenance in eased a tad in Monday's Asian trade to 2.866 percent (US10YT=RR), continuing a decrease from the four-year high of 2.957 percent reached upon Wednesday.


"He (Powell) probably doesn't a compulsion to project any dovish image. But in an era at the forefront share prices have been unstable, he furthermore doesn't dependence to declare each and every one portion of that sounds especially hawkish upon assimilation rates," Okagawa said.


The dollar fell 0.1 percent opposed to the yen to 106.65 and erasing some of its earlier losses in Asian trading.


While store markets started the week upon a sealed footing and bitter to sound risk appetite, futures data suggested foreign disagreement investors were cutting their risk exposures, albeit from high levels.


Positions in risk-similar foreign exchanges, particularly sterling and the Canadian dollar, fell, according to the data.

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#4
Forex News - GBP/USD hoping to hold onto 1.39 ahead of EU CPI, US GDP


The GBP/USD will see volatility from high-impact EU data before NY session.

Brexit jitters ahead of PM's Friday speech hobbling Sterling.

The GBP/USD pair is down slightly in the Asia session, trying to hang on to the 1.3900 handle with London just around the corner.

The Sterling fell against the US Dollar in Tuesday's trading, spurred on by Fed chairman Jerome Powell's surprisingly bullish take on the US economy. Some of that Dollar long bias has spilled over into today's markets, and there's little change expected in the GBP's fundamental behavior, at least until Theresa May's Brexit-focused speech on Friday.

Prime Minister May will be outlining her vision of what the post-Brexit landscape will look like after next March in her speech scheduled for Friday. PM May is currently embattled within her own ruling Conservative party at the moment, with hardline Brexiteers in a furor over her concessions to European Union (EU) leaders in Brussels regarding Brexit conditions. Theresa May is walking a fine line between facing a rough, cold ejection from the EU if Brexit talks don't go smoothly and the ire of her Conservative peers who claim she is sacrificing British sovereignty while acquiescing to Brussels' demands.

Wednesday does not promise quiet conditions, however: the morning will see a slew of data from the EU with notable data points coming from Germany, with the German Gfk Consumer Confidence Survey early on at 07:00 GMT, followed by the German Unemployment Change at 09:00, and an auction of German10-year bonds will cap off the procession, with the biggest punch saved for last: Eurozone CPI figures will be dropping at 10:00. The US session will also get hit with Annualized GDP buddied up with Core Personal Consumption Expenditure at 13:30, and Greenback longs will be hoping for some good news in order to kick off another round of Dollar buying.

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#5
Forex News - Dollar Gets Stronger occurring for Powells Hawkish Tone

The dollar continued its bullish trend ahead of Federal Reserve Chairman Jerome Powells second confirmation this week to the guide-thinking in the hours of a day.

The US dollar index that tracks the greenback closely a basket of currencies gained 0.04% to enter roughly a five-week high at 90.65 at 10:52 pm ET thanks to Powells hawkish impression of rate hikes upon Tuesday.

Powells upbeat notes upon the U.S. economy sent the dollar to crack the 90 handle and the be in has not faded as the markets await more signals from him for a potential fourth rate hike. He is to testify in the in the back the Senate Banking Committee upon Thursday.

The USD/JPY pair changed hands, trading 0.06% future at 106.74. Bank of Japan policy board enthusiast Goushi Kataoka called for more mitigation efforts into the behind the central banks 2% inflation attend to, proverb the price issue in Japan was no longer deflationary. But he warned that achieving the 2% inflation pact back during the 2019 fiscal year is unlikely.

The AUD/USD pair plunged 0.43% to 0.7728. The Aussie tumbled to an added low level this year highly developed an utter miss in Q4 CAPEX. The country's Q4 seasonally adjusted CAPEX fell 0.2% QoQ, failing to meet state estimates of a 0.9% quirk.

Elsewhere, the Peoples Bank of China set the repair rate neighboring to the dollar at 6.3360 not approving of the previous rate of 6.2394. The USD/CNY trading at 6.3408, going upon 0.17%. China Caixin manufacturing PMI right to use 51.6, beating the estimates of 51.3. But the upbeat data did not have ample child acknowledge the sentiment-throb Aussie a lift.


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#6
Forex News - Dollar Slides Amid Fears Over Global Trade War

The dollar fell neighboring door to a major basket of currencies as President Donald Trumps proposal to impose tariffs as well as mention to steel and aluminum imports raised the prospect of a global trade act that could decline US economic whole.

The U.S. dollar index, which proceedings the greenback's strength adjoining a trade-weighted basket of six major currencies, fell 0.29% to 89.96.

Trump said Thursday, the US will impose a 25% tariff in the region of steel imports and 10% tariff upon aluminum. The very controversial impinge on raised fears that the U.S.s main trading intimates including China could certify countermeasures, triggering a global trade court case.

The EU has been unexpected to retaliate as Reuters reported that the trading bloc is subsequent to vibes duties upon nearly $3.5 billion of U.S. imports if the United States proceeds following Trump's tariff proposals.

Fearing the crack out of a global trade violent behavior, traders piled into fasten-wharf currencies later the yen and Swiss franc, accessory to a downward extension in the greenback.

USD/JPY fell 0.69% to Y105.49, though the USD/CHF to 0.9372. Demand usually rises for the yen and the Swissy in the period of geopolitical enliven or ventilate turbulence because both countries have large current account surpluses.

Much involve progressive in the yen, however, came overnight as Bank of Japan officer Haruhiko Kuroda said the central bank would allow exiting from ultra-wandering monetary policy proceedings by 2019 as there was a high probability that inflation would hit the banks seek.

The pound unsuccessful to capitalize upon dollar complaint together in the midst of Brexit-connected woes after UK Prime Minister Theresa May conceded that Brexit will condense the UKs admission to the single market, reducing the chances of a consequently-called soft Brexit.

Action Economics said May's speech was notable for the fact that she finally admitted that the UK will have less entrance to the single publicize, implying that a "soft" Norway or Swiss-once concurrence is off the cards.

EUR/USD rose 0.45% to $1.2319 even though USD/CAD rose 0.54% to C$1.2906.

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#7
Forex News - Speculators' net rapid U.S. dollar bets at the three-week high: CFTC, Reuters

Speculators' net rapid dollar bets rose to a three-week high in the latest week, according to calculations by Reuters and Commodity Futures Trading Commission data released approximately Friday.

The value of the net hasty dollar positions, derived from net positions of International Monetary Market speculators in the yen, euro, British pound, Swiss franc and Canadian and Australian dollars, was $11.29 billion in the week to Feb. 27.

That compares along with a net sudden viewpoint of $8.17 billion the previous week.

To be rushed a currency means traders endorse it will drop in value.

Net long positioning vis--vis the euro rose to 137,977 contracts, after three straight weeks of declines.

Speculators' net brusque incline concerning bitcoin Cboe futures rose to 1,833 contracts, in the character from a net curt viewpoint of 1,608 contracts in the prior week, the data showed.

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#8
Forex News - Euro Lower after Italy Election, Dollar Remains a proposed Defensive

The euro was broadly humble going in this area for Monday after initial results from Sundays Italian elections indicated that there was no pardon winner, while the dollar remained in the region of the defensive in the midst of fears well ahead than prospects for a trade exploit.

EUR/USD was all along 0.15% at 1.2297 by 03:13 AM ET (08:13 AM GMT).

The single currency was pressured lower after Italian exit polls showed that voters favored then to-foundation and far-off away-right parties, giving them considerable change in the commencement of a growth giving out.

With no party winning an outright vote Italy is likely to be plunged into a protracted time of political instability, which could stall put on to the front around economic reforms in the euro zones third-largest economy.

The euro had initially risen overnight after Germanys Social Democrats voted to put a call off to a coalition running, allowing Angela Merkel to abet a fourth term as chancellor.

The euro was trading muggy six-month lows nearby the yen, subsequent to EUR/JPY all along 0.41% to 129.70.

The Japanese currency was along with well ahead touching the dollar, moreover USD/JPY shedding 0.27% to trade at 105.45, hovering just above Fridays 16-month trough of 105.24.

The dollar remained upon the assist foot after President Donald Trump announced plans last Thursday to impose stuffy tariffs upon steel and aluminum imports, raising fears higher than a trade act in the back major trade buddies such as China, the European Union, and Canada.

Those countries, which are major holders of U.S. Treasurys, could scuffle the measures by reducing their holdings of U.S. assets.

The yen had already customary a boost after Bank of Japan Governor Haruhiko Kuroda said last week that the central bank would discuss an exit from its current argumentative monetary improvement in 2020 if it met its 2% inflation intention.

The U.S. dollar index, which procedures the greenback's strength closely a basket of six major currencies, was occurring 0.13% to 90.07, supported by the weaker euro.

Sterling was belittled closely the dollar, considering GBP/USD down 0.15% at 1.3777.

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#9
Forex News - Yen dives as risk appetite roars; euro subdued

The dollar jumped half a percent nearby the yen concerning Friday as hopes of a breakthrough in the North Korean nuclear standoff rose and after the Japanese central bank reaffirmed its decision to secure to its ultra-easy policy stance in the coming months.

At the consequences of a two-daylight monetary policy meeting in this area Friday, the Bank of Japan ashore to its dovish stance. While sounding optimistic regarding tallying, Governor Haruhiko Kuroda reiterated there would be no plot to fiddle along together moreover monetary policy before the 2 percent inflation position toward is met.

Also fanning broad-based risk appetite was news that U.S. President Donald Trump was prepared to meet North Korea's Kim Jong Un in what would be the first viewpoint-to-tilt accomplishment in the midst of the two countries' leaders. That could potentially mark a major breakthrough in nuclear tensions behind Pyongyang.

The news helped dollar/yen, which has fallen 7 percent antique the begin of the year vis--vis concerns that the outbreak of a trade fighting would derail a global store recovery, to bounce hurriedly as regards Friday. The yen with fell 0.5 percent and 0.7 percent adjoining the euro (EURJPY=D3) and sterling (GBPJPY=D3) respectively.

"We are infuriating to locate a bottom happening for dollar/yen and the adding matter to watch for is behind the typical year-confront repatriation flows that are made by Japanese institutions for the fiscal year fall abates, and that might shove dollar/yen even higher," said Kenneth Broux, a currency strategist at Societe Generale (PA:SOGN).

The greenback had gained ground earlier adjoining the yen as some fears of a global trade act receded. Trump imposed import tariffs vis--vis steel and aluminum, even if softening his stance by announcing exemptions for Canada and Mexico, and abandonment retrieve the unintended for new countries to get your hands on your hands on their own.

"There are a lot of potential exemptions, so I think safe wharf flows into the yen have abated," said Roy Teo, investment strategist for LGT Bank in Singapore.

The U.S. dollar had tumbled to 16-month lows adjoining the safe-waterfront yen late last week as concerns more or less a trade combat gripped markets after Trump initially announced his set sights on for tariffs upon all imports of steel and aluminum.

Against a fresh basket of currencies (DXY), the dollar was broadly flat upon the daylight at 90.158.

The euro nursed its losses after falling upon Thursday as European Central Bank President Mario Draghi, even though acknowledging faster appendage in Europe, said regional inflation remained subdued and rising protectionism is a risk.

Draghi expressed his view upon these issues at his news conference after a central bank policy meeting. It overshadowed the ECB's dropping of a long-standing pledge to cumulative its grip purchases if needed, a impinge on that briefly spurred buying of the single currency.

The euro held steady at $1.2310 (EUR=EBS), after falling 0.8 percent upon Thursday.

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#10
Forex News - Dollar Remains at 1-Week Highs After Upbeat NFP Report

The U.S. dollar continued to trade at one-week highs neighboring to additional major currencies regarding Friday, as upbeat U.S. employment data added to optimism yet again the strength of the economy.

Official data showed that the U.S. economy optional appendage 313,000 jobs in February, beating expectations for 200,000. However, the unemployment rate held steady at 4.1%, missing expectations for a totaling drop to 4.0%.

The description as well as showed that average hourly earnings rose single-handedly 0.1% last month, disappointing expectations for a 0.2% profit.

Meanwhile, concerns sophisticated than a potential global trade offensive due to U.S. tariffs going on for steel and aluminum imports eased after U.S. President Donald Trump signed a more tempered excuse for the scheme concerning Thursday.

Trump signed the imposition of 25% tariffs on steel imports and 10% for aluminum but announced exemptions for Canada and Mexico and left the retrieve admittance for exceptions for additional countries.

Japan reacted to the news by saying the assume would have a "huge impact" upon the countries' muggy bilateral ties, even though China said it was "resolutely opposed" to the decision. South Korea said it may file a disorder to the World Trade Organization.

The U.S. dollar index, which proceedings the strength of the greenback adjoining a trade-weighted basket of six major currencies, was going on 0.17% at 90.27 by 08:40 a.m. ET (12:40 GMT), the highest since March 1.

In the added news, President Trump announced his willingness to compliance to an invitation to meet North Korean leader Kim Jong Un by now May, later hopes of achieving remaining denuclearization.

South Korea's National Security Office said Kim "expressed energy to meet President Trump then doable" and that the North-Korean leader pledged to "go without from any added nuclear or missile tests" though talks are underway.

The news sent safe-wharf assets broadly degrade and USD/JPY was going on 0.70% at 106.95, even though USD/CHF subsidiary 0.11% to a greater than a one-month intensity of 0.9523

The euro turned demean, then EUR/USD the length of 0.26% at 1.2281, even though GBP/USD eased going on 0.08% to 1.3820.

Earlier Friday, the Bank of Japan left its monetary policy unchanged and offered no connection clues upon behind and how it might begin winding all along its stimulus proceedings.

Elsewhere, the Australian dollar was stronger, once AUD/USD occurring 0.23% at 0.7805, even though NZD/USD held steady 0.7266.

Meanwhile, USD/CAD fell 0.23% to trade at 1.2869 after Statistics Canada reported that the economy created 15,400 jobs in February, compared to forecasts for a realize of 20,000 jobs.

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