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Trading in the FX Market is more than just plotting indicators and placing an EA on a chart. Fundamentals are the catalyst and the driving force behind price moves, and if you aren’t keeping your ear to the ground, any one of a myriad of news events can seriously ruin your day. Bookmark this page to stay up-to-date on trending news and upcoming news events that affect your trading.

Tech Targets-19.05.2017: EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD

EUR/USD: Bullish: Strong rally has scope to extend to 1.1200.While the ‘bearish outside day’ registered yesterday does not bode well for our current bullish view, the price action is deemed as part of a short-term consolidation phase and not the start of a reversal. That said, upward momentum has clearly been dented and it […]

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USD, EUR, JPY: Divergence Ahead; What's The Trade?

Bank of America Merrill Lynch FX Strategy Research has been arguing in many recent reports that diverging monetary policies will be positive for EUR and USD against JPY. BofAML has reiterated this view in a note today with an update on its related FX trading strategy. "We have argued that the Fed will be hiking faster than […]

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FX Tech Targets 18.05.2017

EUR/USD: Bullish: Strong rally has scope to extend to 1.1200. The shift to a bullish stance yesterday was timely as EUR continues to accelerate higher. As indicated, the strong rally has scope to extend further 1.1200. A break above this level would shift the focus to 1.1300. GBP/USD: Neutral: Immediate upward pressure […]

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AUD & USD rebound, UK retail sales next

A volatile Asian session dominated by risk-off sentiment seen around the Asian equities, as the Trump controversy continues to haunt markets. However, the US dollar bucked its ongoing losing streak and attempted a minor-rebound versus its main peers, tracking a relied-rally in treasury yields. The Aussie was the top […]

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Europe: Sentiment is very positive

Analysts at Westpac points out that Front and centre this month have been celebrations over France’s election of centrist Emmanuel Macron to the Presidency and a belief that his new party En Marche! could become a fresh force for positive change in the Assembly which has resulted in the positive sentiment across the Europe. […]

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BOJ: No exit policy yet decided

<h4></h4><h4>Bank of Japan deputy governor Iwata is appearing in Japanese parliament</h4>He said that no decision has been made on how the central bank will eventually withdraw its monetary stimulus program."It's true that raising interest the BOJ pays on excess reserves (that financial institutions park with the central […]

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Theresa May out on the wires now

The UK PM Theresa May is out on the wires now, via Reuters, noting that she will present the Conservative election manifesto tomorrow. Main Headlines: She backs finance minister Hammond Despite adjustments to GBP value what matters is that we have a credible economic plan Continues to have confidence in relationship with US […]

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Fed and commodity prices taking market's attention

The US Federal Reserve and commodity prices are taking the centre stage at present, according to analysts at Westpac. Key Quotes "The Fed is widely expected to deliver a follow–up interest rate hike in June, a further step in the process of gradual policy normalisation. Commodity prices have slipped." "The spot […]

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FX Tech Targets 17.05.2017

EUR/USD: Shift from neutral to bullish: Strong rally has scope to extend to 1.1200. While the rally appears to be running ahead of itself, strong and impulsive momentum suggests that there is scope for extension to 1.1200. In view of the outsized decline in EUR after the US election in November last year, resistances are […]

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USD/JPY tumbles to 1-1/2 week low

The USD/JPY pair remained under intense selling pressure and has now dropped to a 1-1/2 week low level near 112.35-40 region.Spot extended last week's reversal move from near two-month highs, beyond the 114.00 handle, and traded with bearish bias for fourth session in the previous five amid persistent US Dollar selling […]

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GBP/USD: Will it conquer 1.30 handle?

The bulls regain poise in mid-Asia, prompting a fresh buying-wave in the GBP/USD pair, in a bid to regain 1.2950 barrier amid persisting broad based US dollar weakness and risk-off market profile. GBP/USD bounces-off 20-DMA at 1.2913 The major is trying to break higher from the overnight consolidative mode above 20-DMA […]

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Can the euro area decouple?

The research team at Danske Bank explains that so far, we have yet to see the same signs of a peak in euro business cycle indicators that we are witnessing in the US and China which raises the question whether the euro area PMI can continue to decouple.Key Quotes “Euro PMI has continued to move higher and points to robust […]

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FX Tech Targets - 16.05.2017

EUR/USD: Neutral: Bullish again if NY closing above 1.1020/25. The rebound from last Friday’s 1.0838 low has been more resilient than expected. The rather strong resistances at 1.0950 and 1.0980 were taken out without much difficulty and now EUR is facing the 1.1022 high seen last Monday (08 May). A NY closing above this […]

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AUD/USD ends 4-day rally

The AUD/USD pair faded a minor-spike seen in a knee-jerk reaction to the RBA minutes release, and now returns to the red zone for the first time in five days. AUD/USD testing key support at 0.7400 The major fell sharply from daily highs of 0.7436, as the AUD was hit by a delayed reaction to the RBA minutes, which […]

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GBP/USD - So close yet so far

GBP/USD has been in the hunt for 1.30 over the last two weeks. But time and again the key psychological level has been out of reach of the Sterling bulls. Retreat from 1.2940 is disheartening The pair traded around 1.29 handle in the overnight trade after having retreated from the NY session high of 1.2940. The previous […]

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EUR/USD remains neutral near term

The pair should remain within a 1.0800/1.0950 range in the next weeks, according to FX Strategists at UOB Group.Key Quotes “Expectation for sideway-trading was wrong as EUR surged to high of 1.0934 after the release of US retail sales/CPI data on Friday. The strong daily closing suggests further upward pressure towards […]

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USD looking for direction around 99.00

The greenback – when tracked by the US Dollar Index – is trading almost unchanged at the beginning of the week, holding on to the key 99.00 barrier following the Asian close. US Dollar finds support near 99.00 The index has sold off from the 99.80 region during the second half of last week, although it managed to close the […]

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FX Tech Targets-15.05.2017

EUR/USD: Neutral: In a 1.0800/1.0950 range. While EUR staged a surprisingly strong rebound last Friday, it is not enough to shift the current neutral outlook to bullish. That said, a move above the top of the expected 1.0800/1.0950 consolidation range would not be surprising but there is another major resistance nearer to […]

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Oil: Prices trading volatile

In view of the analysts at BBH, oil prices traded volatile in the previous week as in the middle of last week, the oil rallied by the most since OPEC agreement was struck. Key Quotes “The 3.2% rally was followed by another percentage point advance the following day, before consolidating ahead of the weekend.   The rally […]

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More Disruptions From Global Cyber-Attack?

An unrivaled global cyber-attack is poised to continue claiming victims Monday as people return to work and turn on their desktop computers, even as hospitals and other facilities gained the upper hand against the first wave. More than 200,000 computers in at least 150 countries have so far been infected, according to […]

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Gold remains flat lined

Gold is having a hard time pushing through $1229.51 (38.2% Fib of Dec low - Apr high) despite the drop in the June Fed rate hike odds and continuing tensions in the Korean peninsula. North Korea fired a ballistic missile that landed in the sea near Russia on Sunday. The United Nations Security Council is due to meet on […]

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USD Looking to Regain Momentum

Political risk to dominate thin calendar of economic events The US dollar will finish the week ending May 12 higher across the board against major pairs. Despite the dollar rally losing steam as softer economic data was released the U.S. Federal Reserve kept the June rate hike on the table boosting the greenback on a […]

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PIG TODAY-Markets Unconvinced By BoE Smooth Brexit Assumption

The Bank of England is taking it for granted that we’ll see an orderly Brexit. Investors aren’t as confident. While Governor Mark Carney said the U.K. central bank may have to raise rates sooner than markets are expecting, he also said that’s based on new forecasts that presume a “smooth” adjustment to the new relationship […]

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PIG TODAY-Risks to euro zone economy still not balanced: ECB's Lane

Risks to the euro zone economy are still not balanced and the European Central Bank needs to see evidence that wage pressures are feeding into inflation before it shifts its policy stance, governing council member Philip Lane said on Friday.The euro zone economy has been on its best run for a decade and headline inflation […]

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PIG TODAY-BOJ’s Kuroda: Increase in global trade volume is good for Japanese economy

BOJ Governor Kuroda is crossing the wires now, via Reuters, speaking in Italy at G7 meeting. Headlines: Price rises have been slow recently Increase in global trade volume is good for Japanese economy Important for Italian banks to deal with high NPL ratio Source:

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PIG TODAY-Fed Plan for Gradual Rate Hikes Is Starting to Look Complacent

Investors and the Federal Reserve may have grown too comfortable with gradualism — raising interest rates at a pace that is not too fast, not too slow, but just right. The outlook could abruptly shift if global growth gains momentum and U.S. unemployment sinks much lower. Markets look complacent. Prices in interest-rate […]

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PIG TODAY-Here’s what the ‘real’ fear index is saying

Right now, the VIX index is saying you have nothing to worry about when it comes to the U.S. equity market. But today I’m going to introduce you to another ‘fear’ index. And it’s telling a completely different story… Let me explain. The VIX has been in the financial media a lot over the past week. The VIX (or CBOE VIX […]

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PIG TODAY-EUR/USD: Will upbeat German GDP take it through 1.0900?

The EUR/USD pair remained better bid almost throughout the Asian trading, although failed to chew the offers placed near 5-DMA at 1.0879. EUR/USD awaits eventful session ahead The spot witnessed a minor-bounce from 1.0860 to 1.0875 levels in Asia on the back of stalled USD buying across the board, as the US yields turned […]

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PIG TODAY -USD/CAD Canadian Dollar Lower After Six Banks Downgraded

The loonie was lower against the US dollar despite commodities rising. Moody’s downgraded six major Canadian banks citing high private and household debt that have fuelled a housing bubble. The concerns about a potential crash and its effect on the losses to the financial sector prompted the decision by the ratings agency. […]

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PIG TODAY-Gold sticks to tepid recovery gains, but remains capped below 100-DMA

Gold held on to its tepid recovery gains through early NA session, but has struggled to gain any follow through traction and remained capped below 100-day SMA. Slight deterioration in investors’ appetite for riskier assets, as depicted by negative trading sentiment around equity markets, boosted demand for traditional […]

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PIG TODAY-Not expecting trade and investment to boom - BoE's Carney

More from BoE's Carney at today's press conference: "Poor productivity prtly reflected in weak wage growth". "Real income expected to turn positive within the next few years". "Not expecting trade and investment to boom".

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PIG TODAY-USD struggling to see meaningful upside – Westpac

In view of Richard Franulovich, Research Analyst at Westpac, USD index has found a base at 98.5 and can see 100/101 near term but struggling to see meaningful upside.Key Quotes “Rising probabilities for June and Sep Fed hike are an obvious USD positive but yield spreads are not moving much in the USD’s favour: June Fed hike […]

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PIG TODAY-11.05.2017- Tech Targets: EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD - UOB

EUR/USD: Neutral: In a 1.0800/1.0950 range.The breach of 1.0900 on Tuesday indicates that EUR has made a short-term at 1.1023. The current movement is viewed as the start of a consolidation phase and EUR is expected to trade sideways for now, likely between 1.0800 and 1.0950. GBP/USD: Neutral: In a 1.2830/1.3000 range. GBP […]

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PIG TODAY-EUR/USD to track T-yields; watch out for the EUR / GBP cross

The short-term bearish reversal in EUR/USD seen earlier this week yielded another drop on Wednesday. The spot neared 1.0849 (38.2% Fib R of 1.0569-1.1021) before rising to 1.0880 in the Asian session today. The Eurozone data docket is light today with just monthly economic bulletin scheduled for release. Hence, the spot is […]

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PIG TODAY-NZD: Official Cash Rate unchanged at 1.75 percent

Statement by Reserve Bank Governor Graeme Wheeler: The Reserve Bank today left the Official Cash Rate (OCR) unchanged at 1.75 percent. Global economic growth has increased and become more broad-based over recent months. However, major challenges remain with on-going surplus capacity and extensive political uncertainty. […]

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PIG TODAY-EUR, AUD, CAD: Where Is The Pain Trade In G10 FX ? - TD

TD Research argues that apart from the fundamentals, extreme positioning will push pressure points in G10FX. In that regard, TD notes that based on the net specs/open interest over a 12-month range, EUR and AUD look the most overbought while CAD looks the most On the EUR,  TD notes that it's running ahead of cyclical […]

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PIG TODAY-US Dollar inter-markets: focus back on 100.00

The greenback, when gauged by the US Dollar Index, is trading on the defensive in the middle of the week, easing some ground after advancing for two straight sessions and bouncing off Monday’s fresh YTD lows in the 98.30 region.DXY managed to regain and surpass the key area around the 99.00 handle, where sit the 200-day sma […]

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PIG TODAY-USD: Focus On US Inflation Data This Week To Gauge Fed's Hikes Path - Barclays

Barclays Capital Research notes that USD investors' focus will be on the US inflation data on Friday.In that regard, Barclays forecasts headline CPI to have increased 0.2% m/m and 2.2% y/y in April, and expects core CPI to be up 0.2% m/m and 2.0% y/y, in line with consensus. "A downside surprise in inflation could increase […]

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PIG TODAY-There's No Recession, but a Market Correction Could Cause One

Before last Friday’s employment release, some pessimistic observers feared a recession was near.  The latest GDP release from the BEA showed real output growth slowed to a crawl in the first quarter, rising at an annual rate of only 0.7 percent. And that followed the report on March employment that had shown an abrupt […]

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PIG TODAY-The market's low volatility is worrisome

The U.S. stock market may be a bit too calm right now, Goldman Sachs CEO Lloyd Blankfein said Tuesday. "Every time I get accustomed to low volatility, like we were towards the end of the Greenspan era, and we think we have all the levers under the control ... something erupts to remind us that the idea that anybody is in […]

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PIG TODAY-ECB: President Draghi’s speech in focus – Danske Bank

The analysis team at Danske Bank explains that the ECB president Draghi is scheduled to speak in the Dutch parliament in the afternoon and focus will be on whether the latest jump in core inflation as well as Macron winning the French presidency have changed the ECB's monetary policy stance. Key Quotes “In our view, the […]

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PIG TODAY-BOJ’s Kuroda: Changes in BOJ bond buying amount will not have implication on BOJ policy stance

Bloomberg reports headlines from text of a speech the Bank of Japan (BOJ) Governor Kuroda gave at research Institute of Japan earlier today.Key Points: Current easing framework is sustainable Yield curve has formed smoothly since introducing YCC Economic recovery in Japan has taken hold more firmly Conditions are improving […]

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PIG TODAY- AUD: Worst-Performing Major Currency; What's The Trade? - SocGen

Societe Generale FX Strategy Research notes that overnight data in Asia saw AUD coming under further pressure on the release of the weaker-than-expected March retail sales in Australia. In that regard, SocGen argues that AUD is the worst-performing of the major currencies as commodities and domestic demand both hurt, rate […]

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PIG TODAY-How oil is setting up for a supply squeeze — giving bulls a reason to rejoice

Our estimates are for stockpiles of oil to decline by as much as 50 million barrels this year if the OPEC deal is extended. And every indication suggests it will be extended until at least the end of 2017, if not beyond.Reductions in global stockpiles of oil CLM7, +0.43%  have occurred already, but not in the U.S. or in […]

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PIG TODAY-Gold re-attempts $ 1230 as USD buying stalls

Gold prices on Comex is seen reversing a dip to $ 1224.50 lows, trimming losses in a bid to regain $ 1230 barrier amid stalled USD buying. Currently, gold trades modestly flat at $ 1226.46, reverting to familiar ranges near $ 1226.50-1227 levels. The yellow metal ran into fresh offers in the last hour, after the greenback […]

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PIG TODAY-09.05.2017-Tech Targets: EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD - UOB

EUR/USD: Bullish: Diminished odds for further EUR strength.Despite breaking above the major 1.1000 resistance (high of 1.1023 early yesterday), EUR closed lower and registered a ‘bearish outside bar’. The development came as a surprise and does not bode well for the current bullish view (that started on 26 Apr, spot at […]

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PIG TODAY-GBP/USD holding steady with minor gains, around mid-1.2900s

The GBP/USD pair traded with a mild positive bias through Asian session on Tuesday and reversed part of yesterday's corrective slide from the key 1.30 psychological mark.Currently hovering around mid-1.2900s, the pair benefitted from a sharp rise in the British Retail Consortium Like-for-like Sales data for April 2017, […]

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PIG TODAY-EUR/USD consolidating after yesterday’s sharp reversal from yearly tops

After yesterday's sharp reversal move, the EUR/USD pair has now moved into a consolidation phase and was seen oscillating within 20-pips narrow trading range. With investors moving beyond the initial positive reaction to Emmanuel Macron’s victory in the closely watched French Presidential election on Sunday, the pair on […]

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PIG TODAY-USD/JPY consolidates near 2-month tops amid negative equities

The USD/JPY pair stalled its bullish momentum near 113.40 region on Tokyo-open, as negative sentiment around the Japanese stocks underpinned safe-havens bids for the Yen. USD/JPY: Eyes on 113.50? Moreover, markets digest latest less hawkish comments from the Fed officials Bullard and Mester delivered in the US last session, […]

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PIG TODAY-Goldman Sachs: Why the commodities rally might be different this time

Commodity prices usually rally as the U.S. Federal Reserve heads into a hiking cycle, but it might be different this time, Goldman Sachs said in a note Monday. Historically, "commodities perform the best when the Fed is raising rates," Goldman said. "This makes intuitive sense because the reason why the Fed raises interest […]

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PIG TODAY-Fed's Bullard: The policy rate is approximately at an appropriate setting today

Federal Reserve Bank of St. Louis President James Bullard discussed reasons for the downward trend in the natural real rate of interest during a presentation Monday at the Federal Reserve Bank of Atlanta’s 22nd Annual Financial Markets Conference.Federal Reserve Bank of St. Louis President James Bullard discussed reasons […]

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PIG TODAY-Australia to hold new inquiry into 'Big Four' banks

Australia will hold an inquiry into competition in the country's financial system, following a series of scandals in the banking sector and public allegations against the "Big Four" banks of abuse of market power.The latest inquiry is part of a number of government measures since last year aimed at alleviating public […]

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PIG TODAY-ECB’s Mersch: Any talks on normalization must be orderly and prudent

ECB executive board member Yves Mersch crossed the wires now, via Reuters, commenting on the economic outlook and monetary policy program.Key Points: Any talks on normalization must be orderly and prudent EZ recovery is gaining more and more traction Confirmation of a broadly balanced risk outlook for growth is within […]

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PIG TODAY-08.05.2017-Tech Targets: EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD - UOB

EUR/USD: Bullish: Next target at 1.1050 followed by 1.1120.While EUR finally broke above 1.1100, the lack of acceleration higher after the breach came as a surprise (high of 1.1022 early this morning). This level is a declining trend-line on the weekly chart and a break has a rather bullish connotation. For now, we will […]

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PIG TODAY-USD: Strong for JPY and CAD, but weak against GBP - BBH

Analysts at BBH note that the US dollar has advanced against the yen for three consecutive weeks as since April 14 low near JPY108, the greenback rallied 4.6% to test JPY113.00.Key Quotes “The JPY112.70 area corresponds with the 61.8% retracement of this year's decline.   The measuring objective of the bottom pattern that […]

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PIG TODAY-Goldman says oil prices on the brink of ‘capitulation

After crude-oil prices took a beating over the past week, falling to their lowest level since before OPEC-led a deal to curb output in November, analysts at Goldman Sachs say crude may reaching a “capitulation” point. In a research note dated Friday, Goldman commodity strategists, headed by Damien Courvalin and Jeff Currie, […]

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PIG TODAY-Macron wins... Fed could retake center stage, will EUR/USD drop?

Macron has won the second round of the French elections as widely expected and the forex markets have reacted by dumping EUR ‘on the fact’. EUR/USD jumped to a high of 1.1022 in early Asia in a knee jerk reaction to Macron victory before falling back to 1.0975 levels. Fed to retake centre stage? Over the last two months or […]

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PIG TODAY-Week Ahead Dollar Softer Despite Strong US Jobs Report

US retail sales and inflation next up for the USD The US dollar did not have a strong finish for the week despite employment rising by more than expected with a 211,000 jobs gain in April. The unemployment rate fell to 4.4 percent (the lowest since 2007) but wage growth remains tepid with a 0.3 percent monthly gain. […]

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PIG TODAY-Gold up on safe-haven bid, but on track for worst week since Nov

Gold rose on Friday as investors took refuge in the safe-haven bullion as stock prices tumbled on the back of sliding oil and iron ore prices, but the yellow metal was on track for its biggest weekly decline in nearly six months. Spot gold rose 0.5 percent to $1,233.10 per ounce as of 0746 GMT. "Gold has rallied in Asia as […]

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PIG TODAY-GBP: 3 Reasons For Further Upside; Go Long Vs USD, EUR, AUD – Nomura

The pound has been on the move but it struggles to advance beyond 1.30. What’s next? Here are reasons behind sterling’s rise.Here is their view, courtesy of eFXnews: Nomura FX Strategy Research expects GBP to outperform throughout the second half of the year.  Nomura outlines 3 reasons behind this view: “1) The inflation […]

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PIG TODAY-EUR/USD – Euro at 6-Month High as Markets Eye Macron Victory

The euro has inched lower on Friday, after gaining close to 1 percent in the Thursday session. Currently, EUR/USD is trading at 1.0970. On the release front, there was just one event out of the eurozone. Retail PMI improved to 52.7, its highest level since July 2015. In the US, the focus is on employment numbers, with the […]

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PIG TODAY-OPEC faces high-stakes decision as oil wavers around 5-month low

Oil’s plunge this week to levels not seen since November raises the stakes for the Organization of the Petroleum Exporting Countries when the cartel meets later this month to decide whether to extend an agreement to curb output.June West Texas Intermediate crude CLM7, +0.02%  on Thursday settled at $45.52 a barrel on the […]

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PIG TODAY-USD/CAD jumps to 1.3800 neighborhood as oil slump continues

The Canadian Dollar continues to lose ground against its US counterpart, with the USD/CAD pair hitting fresh 14-month highs and fast approaching the 1.3800 handle.Currently trading around 1.3785-90 band, the ongoing slump in oil prices amid renewed fears of global supply glut, with WTI crude oil slammed below the […]

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PIG TODAY-05.05.2017-Tech Targets: EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD - UOB

EUR/USD: Bullish: Break of 1.1000 could lead to acceleration higher.EUR has tested our patience but finally started to move to hit an overnight high of 1.0987. While the 1.1000 target that was first indicated last Wednesday is not met, the strong surge higher yesterday bodes well for our bullish view. 1.1000 is declining […]

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PIG TODAY-EUR/JPY trades at 4-month high, is Macron victory priced-in?

EUR/JPY was trading at 123.62 this Friday morning in Asia; its highest level since January 9.The currency pair bottomed out at 114.85 (Apr 17 low) and has enjoyed a near 90 degree rally over the last two weeks as polls showed Macron maintaining a significant lead over the anti-EU candidate Marine Le Pen. Moreover, the ‘hope […]

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PIG TODAY- BOJ’s Kuroda: Japanese public's mindset is still quite cautious in terms of inflation expectation

More comments crossing the wires from the BOJ Governor Kuroda, as he continues to speak to reporters on the sidelines of the ADB conference held in Japan today. Key Points: Japanese public's mindset is still quite cautious in terms of inflation expectation Quite sure with continuous easy policy supported by fiscal policy, […]

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PIG TODAY-Jobless Claims in U.S. Declined More Than Forecast Last Week

Filings for U.S. unemployment benefits dropped more than forecast last week, consistent with a robust labor market, a Labor Department report showed Thursday. Key Points• Jobless claims decreased by 19,000 to a three-week low of 238,000 (forecast was 248,000) in the week ended April 29 • Decline included a 13,890 unadjusted […]

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PIG TODAY-EUR/USD making headways towards 1.0950, US data, Draghi eyed

The EUR/USD pair staged a sharp reversal from a drop to 1.0875 lows, now extending recovery gains back beyond 1.09 handle amid deeper correction seen in the US dollar against its main competitors. The USD index attacks 99 handle, down -0.21% on the day, correcting after yesterday’s Fed-backed solid rebound. The spot […]

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PIG TODAY-Currency risk is underappreciated – Riksbank’s Jansson

Per Jansson, Deputy Governor of the Riksbank, said on Thursday that currency risk is very much underappreciated.He added that it is essential that the euro area is doing well, while development is good at the moment. Jansson also noted that the political uncertainty in the US is massive. On a more domestic view, Jansson […]

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PIG TODAY-BOJ’s Kuroda: There might be some geopolitical risks to Asian economy

The Bank of Japan (BOJ) Governor Kuroda was out on the wires last hour, via Reuters, noting the following:There might be some geopolitical risks to Asian economy China-backed Asian Infrastructure Investment Bank (AIIB) does not conflict with role played by major development banks like the Asian Development Bank (ADB). […]

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PIG TODAY- Post-Fed USD rally stalls, eyes on UK PMI, ECB Draghi

Holiday-mode light trading extended into Asia this Thursday, as Japan remains off until Monday. Although, poor first-tier data from Australia and China drove sentiment across the financial markets. Meanwhile, broad based US dollar consolidation remained the underlying theme, as dust settled over the Fed decision aftermath. […]

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PIG TODAY-04.05.2017-Tech Targets: EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD - UOB

EUR/USD: Bullish: Diminished odds for a break above 1.1000. [No change in view, see update from yesterday below]EUR traded in a narrow range of less than 50 pips yesterday (between 1.0886 and 1.0933). While we continue to hold a bullish view (since last Wednesday, 26 Apr, spot at 1.0905), we are aware of the rapidly waning […]

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PIG TODAY-Japan: Economy impacted by US fiscal policy outlook - Nomura

The research team at Nomura suggests that US fiscal policy can have a major impact on the Japanese economy, and the current focus of attention is on when the Trump administration can come up with a bill to cut taxes that has a realistic chance of being enacted. Key Quotes “A plan to cut taxes that was proposed by the White […]

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PIG TODAY-GBP/USD: Will the post-Fed recovery sustain ahead of UK services PMI?

Having found fresh bids once again near 1.2860 region in Asia opening trades, the GBP/USD pair kept its steady recovery mode intact, with the bulls regaining the bids heading into the all-important UK services PMI report due on the cards later today. Currently, the spot remains in the lower bound of this week’s 100-pips […]

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PIG TODAY-Dollar touches 6-week high vs. yen

The dollar touched a 6-week high against the yen on Wednesday after a key advisory group pushed back against Treasury Secretary Steven Mnuchin’s claim that issuing ultralong-term debt could make sense. “The committee doesn’t see evidence of strong or sustainable demand for maturities beyond 30-years,” the Treasury Advisory […]

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PIG TODAY-FOMC Preview: No change in short-term interest rate policy - Nomura

The research team at Nomura expects no change in short-term interest rate policy at the 2-3 May FOMC meeting. Key Quotes “Recent Fedspeak indicates most members expect two more rate hikes later in 2017. While short-term interest rate policy will most likely remain unchanged at the upcoming meeting, markets will pay […]

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PIG TODAY-USD/JPY now targets 112.90 – UOB

FX Strategists at UOB Group believe the pair could advance to the 112.90 level in the near term.Key Quotes “The anticipated USD strength exceeded our expectation by exceeding the 112.20 target to hit a high of 112.30. The sharp and rapid pull-back suggests that upward momentum has eased and the current movement is likely […]

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PIG TODAY-USD/CHF flirting with one-month lows, Fed in focus

The USD/CHF pair built on previous session's downslide and has now dropped back closer to one-month lows touched last week.The pair remained under some selling pressure for the second consecutive day on Wednesday despite of a modest greenback recovery. In fact, the key US Dollar Index is now placed at session tops, but did […]

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PIG TODAY-USDCAD extends rally, on track for 1.39/1.40 target - Scotiabank

Analysts at Scotiabank points out that USDCAD is making solid progress towards the bull targets and they noted that the bullish break from the Mar/Apr consolidation (bull flag) pointed to a repeat of the Feb/Mar rally (essentially targeting 1.39).Key Quotes “Secondly, we viewed the push above resistance just under 1.35 as a […]

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PIG TODAY-03.05.2017-Tech Targets: EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD - UOB

EUR/USD: Bullish: Diminished odds for a break above 1.1000. EUR traded in a narrow range of less than 50 pips yesterday (between 1.0886 and 1.0933). While we continue to hold a bullish view, we are aware of the rapidly waning upward momentum. As indicated yesterday, EUR has to break above 1.1000 sometimes this week or the […]

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PIG TODAY-USD/JPY: Risk-Reward Into FOMC; Positioning Signal & Fair Value Target - TD

TD FX Strategy Research notes that the market is still unwinding its long JPY exposure as the reduction in the tail-risk following the first round of the French elections has provided a modest spark to risk.This backdrop, according to TD, has provided a decent environment for USD/JPY to bounce off the recent lows to trade […]

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PIG TODAY-EUR/USD - Is a long-term trend reversal on the cards?

The EUR/USD pair found takers at 50-DMA level of 1.0888 in Asia. The trend line sloping downwards from Apr 2016 high and Nov 2016 high is seen offering resistance around 1.1020. A break above the same would signal the sell-off from April 2016 high of 1.1616 has ended i.e. trend reversal.Eyes FOMC statement The break above […]

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PIG TODAY-Six things to watch for in the Fed’s policy statement

With no new economic forecasts, or a Fed Chairwoman Janet Yellen press conference, all the information about the central bank’s thinking will have to be gleaned from the six-paragraph statement released at 2 p.m. on Wednesday.No one expects a rate hike, because it would deviate from the “gradual” pace of tightening laid out […]

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PIG TODAY-Eurozone: Core inflation surprised on the upside – Danske Bank

Pernille Bomholdt Henneberg, Chief Analyst at Danske Bank, explains that the Eurozone’s core inflation surprised on the upside but this is not the first sign of higher underlying price pressure. Key Quotes “Euro area inflation increased to 1.9% y/y in April from 1.5% y/y in March while core inflation jumped to 1.2% y/y from […]

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PIG TODAY-GBP/JPY continues scaling higher, inching closer to yearly tops

After Monday’s brief pause, the GBP/JPY cross regained traction and continued scaling higher to hit fresh multi-month highs near the 144.70-75 region.The prevalent risk-on environment, as depicted by positive trading sentiment around European equity markets, which tends to dent the Japanese Yen's safe-haven demand, remained […]

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PIG TODAY-02.05.2017-Tech Targets: EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD - UOB

EUR/USD: Bullish: Diminished odds for a break above 1.1000.We have been bullish EUR since last Wednesday (26 Apr) but the subsequent price action has been ‘uninspiring’. The mostly sideways trade has resulted in a rapid loss in momentum and time is not on the side of EUR bulls. To put it another way, the odds for a break […]

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PIG TODAY-AUD: Trading The RBA - Views From Major Banks

The following are brief expectations for the RBA May meeting statement as compiled from the related research reports of 7 major banks. Overall, they expect the RBA to stay on hold and to maintain a neutral to a slightly dovish stance. Credit Agricole CIB Research: The AUD/USD remains well above its interest rate […]

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PIG TODAY-Greece and its creditors agree to bailout package

Greece and its international creditors reached an agreement early Tuesday on the austerity measures and economic overhauls the country must implement to keep its bailout program going, clearing the way for debt-relief talks.“There is white smoke…Negotiations on all issues have been completed,” Greek Finance Minister Euclid […]

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PIG TODAY-EUR/USD awaits range breakout, Eyes PMI data

The EUR/USD has been restricted largely to a range of 100-pip range of 1.0950-1.0850 following last week’s French election relief. The breach of the sideways trading range depends on the quality of the Eurozone PMI numbers due today and the tone of the FOMC statement to be released on Wednesday. PMI to highlight economic […]

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PIG TODAY-AUD looks vulnerable medium-term – TDS

In view of FX Strategists at TDS, the Aussie Dollar could be under extra pressure following RBA-Fed policy divergence.Key Quotes “Very little has changed, although Q1 domestic inflation accelerated to mid-target 2.6%/yr. RBA is juggling a strong housing market with weak labour market fundamentals, and remains upbeat about […]

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EUR/USD – Euro Quiet in Thin Holiday Trad

The euro has started the week quietly, as EUR/USD trades at the 1.09 line. German and French banks and stock markets are closed for the May 1 holiday, so we can expect the lack of movement to continue during the day. In the US, Treasury Secretary Steven Mnuchin will speak at a conference in Los Angeles. On the economic […]

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PIG TODAY-GBP: Near-Term Challenges Remain; What's The Trade? - BofAML

myBank of America Merrill Lynch FX Strategy Research argues that GBP still faces some near-term headwinds which should keep GBP/USD capped below $1.30 in the very near-term. "UK elections; momentum/positioning and seasonality all pose risks.  As such, BofAML thinks there is a risk that markets could buy the large […]

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PIG TODAY-ECB: Taking baby steps - Rabobank

The research team at Rabobank notes that the ECB left both interest rates and the asset purchases programme unchanged while the Governing Council upgraded the risk assessment for growth slightly, but reiterated that the (more important) inflation risk assessment remained unchanged.Key Quotes “The Governing Council is trying […]

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PIG TODAY-Weekly Forex Forecast (May 1 – 5, 2017)

EURUSD buyers managed to hold their ground last week after kicking things off with a 180 pip gap up. The weekend gap was the result of a Macron victory in the first round of the France elections. I normally don’t like to use so many levels of support and resistance, but as you can see from the chart below each one serves a […]

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PIG TODAY-USD/JPY rebounds sharply in tandem with DXY, eyes on 112.00

The US dollar caught a fresh bid-wave across the board, prompting USD/JPY to stage a solid rebound from a dip to 111.20 levels amid holiday-thinned markets. Most major Asian and European markets are closed today in observance of their respective National holiday.The latest leg higher in the spot can be mainly attributed to […]

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Week Ahead US Jobs and Fed to Guide Markets

Soft US growth to pressure Fed ahead of Jobs report The US dollar is mixed against majors with gains against the NZD, JPY, CAD and AUD but weaker against the EUR and GBP. Risk appetite in Europe returned after the restful of the first round of elections in France left Macron and LePen heading into the May 7 deciding second […]

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PIG TODAY-Dollar advances vs. yen after GDP, ECI data

Employment costs expanded in April at their fastest pace since before the financial crisisThe dollar advanced against the yen on Friday, nearing its strongest level in about a month, after official data showed labor costs and U.S. economic growth improved modestly during the first quarter. One dollar USDJPY, +0.21%  bought […]

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PIG TODAY-EUR/USD: bias stays toppish – Commerzbank

In view of Senior Technical Analyst at Commerzbank Axel Rudolph, a drop below 1.0683 is needed to allow further pullbacks.Key Quotes “The three month resistance line at 1.0957 capped EUR/USD as expected with the 200 day moving average at 1.0836 still being in focus”. “For a decline to be seen a fall below Friday’s low at […]

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PIG TODAY-USD: a major rally appears unlikely – TDS

In opinion of FX Strategists at TD Securities, sustainable rallies in the greenback remain unlikely for the time being.Key Quotes “Despite some soft data recently, US GDP remains on track for above-trend 2.2% growth for 2017. Fiscal uncertainty continues with the near-term risk of a government shutdown and unclear prospects […]

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PIG TODAY-French election is your cue to hedge exposure to European stocks

Many U.S. investors likely have exposure to the euro. Investing in foreign stock funds or ETFs, or even buying shares of individual European companies that trade in ADRs (American Depository Receipts) on U.S exchanges gives you euro exposure.This means you get two returns from these holdings — the return of the stock or […]

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