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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.

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UPCOMING FOREX NEWS EVENTS
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PIG TODAY-BOJ keeps inflation forecasts unchanged, revises up GDP

In today's decision, the Bank of Japan has also updated its outlook on groowth and inflation, with the former revised up marginally, while the latter sees no change against market expectations, noting inflation is expected to remain on a weak note. Main headlines Core cpi expected +1.5 pct in fy2017/18 vs +1.5 pct projected […]

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PIG TODAY-EUR/USD: Monthly Close Key; GBP/USD: Reverse H&S Target - Citi

In the short run, we continue to expect EURUSD and GBPUSD to test major resistance levels, which is consistent with our roadmap from 1999, before turning again later. Looking back to 1999, as the DXY started turning higher in October of 1999, it did not rally against JPY. The rally was against European currencies and it is […]

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PIG TODAY-USD, EUR, JPY, GBP, CHF, CAD, NZD: Weekly Outlook - Morgan Stanley

USD: USD To Recouple With US Yields. Bullish. We expect USD to recouple with rising yields and strengthen against low-yielding currencies. The reflation trade remains in tact. We don't expect President Trump's comments about USD strength to sustainably impact USD and think sustainable USD weakness would only come from […]

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PIG TODAY- GBP/USD Forecast: defends 1.2500 psychological mark for the time being

The US Dollar came under some renewed selling pressure and witnessed a weekly bearish gap opening on Monday in wake of the US President Donald Trump's executive order on Friday, imposing a 90-day ban on travelers from seven Islamic countries.Trump's focus on protectionism, coupled with lack of clarity on the economic policy […]

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PIG TODAY-Yen rises, dollar weakens as Trump travel ban, unrest rattles investors

The yen advanced against its peers in holiday thinned trade on Monday, strengthening as much as 0.7% against the dollar, with risk sentiment worsening after President Donald Trump’s travel ban order and ratcheting up of his protectionist stance.Sentiment has been bruised as thousands gathered in New York and Washington on […]

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PIG TODAY-The week ahead for Australia - Deutsche Bank

Analysts at Westpac offered an outlook for Australia's calendar this week. Key Quotes: "The NAB business conditions index for December is due Tuesday, along with private sector credit, also for December. December figures for building approvals and international trade are due Thursday. We look for building approvals to pare […]

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Market Events To Watch This Week:

Monday, January 30Midnight JPY Monetary Policy StatementMidnight JPY BOJ Outlook ReportMidnight JPY BOJ Policy Rate Tuesday, January 311:30am JPY BOJ Press Conference8:30am CAD GDP m/m10:00am USD CB Consumer Confidence4:45pm NZD Employment Change q/q4:45pm NZD Unemployment Rate5:35pm CAD BOC Gov Poloz Speaks8:00pm CNY […]

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Week Ahead: Dollar Stumbles After Soft GDP and Trump Negotiation Skills

Central banks to remain on hold with politics at the forefront The dollar is weaker after the Trump administration remained more focused on anti-trade policies than the fiscal stimulus and infrastructure spending that lifted inflation expectations in the U.S. The first 100 days of Trump’ administration will be crucial. […]

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PIG TODAY-EUR/GBP fades the spike to 0.8530, Trump/May on focus

Both the single currency and the Sterling remain under pressure on Friday, prompting EUR/GBP to deflate from session tops in the 0.8530 area. EUR/GBP looks to Trump/May The European cross has practically shrugged off yesterday’s deep sell off to lows in the vicinity of 0.8470 following a significant drop in the EUR in […]

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PIG TODAY-EUR/USD: Monthly Close Key; GBP/USD: Reverse H&S Target - Citi

In the short run, we continue to expect EURUSD and GBPUSD to test major resistance levels, which is consistent with our roadmap from 1999, before turning again later. Looking back to 1999, as the DXY started turning higher in October of 1999, it did not rally against JPY. The rally was against European currencies and it is […]

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PIG TODAY-US Dollar tugged one way by Trump, the other way by the Fed - Natixis

Nordine NAAM, Research Analyst at Natixis, notes that the since the start of the year, the US dollar has undergone a sharp correction against most G10 currencies and emerging currencies. Key Quotes “As a result, the DXY dollar index is down more than 3.5% from the 103.8 high set at the start of 2017, with the index […]

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PIG TODAY-ECB members speeches in focus – Danske Bank

Analysts at Danske Bank suggest that there are a number of speeches by important ECB members including executive board member Mersch, Bundesbank President Weidmann and Bank of France's Villeroy.Key Quotes “ECB members are likely to become increasingly split as headline inflation picks up but core inflation stays low. […]

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PIG TODAY-AUD/USD, NZD/USD: Bullish Multi-Week Patterns Intact But Caution S/T - NAB

AUD/USD: Price broke down from its broad 2016 triangle in Q4 2016 and challenged the bottom of the nine-month range and our downside target at 0.7150/00 in December. The response to nine-month  lows  at o.7150/00 has  been positive however, completing a bullish three-week candle pattern in early January that triggered an […]

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PIG TODAY-GBP: 'Cheap' Sterling Bounces On Position-Squaring: What's Next? - ABN AMRO

After a volatile ride on Tuesday, sterling posted a remarkable recovery on Wednesday. GBP/USD rallied through  1.26 while EUR/GBP dropped below 0.8550. With Prime Minister Theresa’s May speech (last week) and the Supreme Court decision (on Tuesday) behind us, financial markets have started to focus on other events, […]

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PIG TODAY-High Fives on the Dow Trading Post

Champagne corks were popping overnight after the DJIA finally topped the 20,000 ceiling, which has held stubbornly, despite several attempts  since mid-December. The move was a mix of Keystone euphoria and corporate earnings leading the way. Fixed income dealers here were quick off the mark as ten ten year UST touched […]

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PIG TODAY-25.01.2017-Tech Targets: EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD - UOB

EUR/USD: Neutral: Diminished odds for towards 1.0820.EUR tried but failed to maintain a toehold above 1.0770 (high of 1.0774). The recent positive undertone has eased somewhat with the pull-back from the high but as long as 1.0670 is intact, another attempt to move towards 1.0820 is not ruled out just yet, even though the […]

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PIG TODAY-Trump and the bulls look to rip a hole in oil prices

Critical information for the U.S. trading day

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PIG TODAY-GBP. Brexit Hits a Speed Br-ump

The UK Supreme Court has ruled that the UK Government must seek Parliamentary authority to withdraw from the European Union and thus also to invoke Article 50. The Government has been blindsided by this ruling one suspect, and PM May will not be amused. To invoke Article 50 will now require an Act of Parliament to be […]

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PIG TODAY-U.K. Supreme Court rules Theresa May must get lawmakers’ approval for Brexit plan

Judges reject U.K. government’s appeal, say it can’t trigger Article 50 without a parliamentary vote.

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PIG TODAY-GBP: UK Court Ruling: Scenarios & Market Implications - Deutsche Bank

On Tuesday, the UK Supreme Court will rule on the government’s Brexit plans. The case is less of a market focus than the original hearing in November, but could be just as important for the Brexit process.What issues are at stake? The ruling concerns the appeal of government lawyers against the High Court’s judgment in […]

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PIG TODAY-EUR/USD ‘a-b-c’ correction over? – Commerzbank

In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, notes the correction higher in spot could be coming to an end. Key Quotes “EUR/USD remains above the 1.07 area. The Elliott wave count is suggesting that an ‘a-b-c’ correction higher is terminating (we have TD resistance circa 1.0780 on the 240 […]

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PIG TODAY-24.01.2017-Tech Targets: EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD - UOB

EUR/USD: Neutral: Expect further upward grind towards 1.0765, possibly 1.0820. As noted yesterday, the undertone for EUR has improved considerably and EUR is expected to grind higher towards 1.0765, possibly 1.0820. The high has been 1.0774 during Sydney hours and while further upward extension is not ruled out, 1.0820 is a […]

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PIG TODAY-USD, EUR, GBP, CHF, CAD, AUD, NZD: Weekly Outlook - Morgan Stanley

USD. USD Correction Largely Over. Bullish. We believe the current USD correction is largely over and expect more USD strength, particularly against the low yielders. Yellen's speech was important as it indicated Yellen was one of the median SEP dots supporting three rate hikes, keeping US front end rate expectations […]

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PIG TODAY-EUR/USD keeps pushing higher, in highs near 1.0750

The bearishness around the greenback is now allowing EUR/USD to clinch daily tops in the mid-1.0700s ahead of the European open.EUR/USD stronger on USD-selling The selling interest in USD has nothing but intensified in response to the protectionist tone from President D.Trump’s speech at his inauguration on Friday. In […]

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PIG TODAY-23.01.2017-Tech Targets: EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD - UOB

EUR/USD: Neutral: Expect further upward grind towards 1.0765, possibly 1.0820. The undertone for EUR has improved considerably and from here, further upward grind towards 1.0765 seems likely. A move above this level would shift the focus towards 1.0820. Overall, only a move below 1.0640 would indicate that the immediate […]

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MARKET EVENTS TO WATCH THIS WEEK

Tuesday, January 244:30am GBP EU Membership Court Ruling7:30pm AUD CPI q/q Wednesday, January 254:00am EUR German Ifo Business Climate10:30am USD Crude Oil Inventories4:45pm NZD CPI q/q Thursday, January 264:30am GBP Prelim GDP q/q8:30am USD Unemployment Claims Friday, January 278:30am USD Advance GDP q/q8:30am USD Core […]

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Week Ahead Trump Speech Fails to Reignite Dollar Rally

US 45th President is sworn in with markets looking forward to first 100 days The dollar is mixed against majors after the inauguration of President Trump. The markets did not get enough information on Friday to support the dollar as the tangible pro-growth agenda items were missing from the event. Trump’s speech was […]

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PIG TODAY-20.01.2017-Tech Targets: EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD - UOB

EUR/USD: Neutral: Back in a range, likely between 1.0500 and 1.0715. EUR dipped to low of 1.0587 yesterday but rebounded quickly. While the undertone has improved somewhat and a move above the 1.0715/20 high seen earlier this week would not be surprising, the current lackluster momentum suggests that a sustained up-move is […]

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PIG TODAY-USD: What To Expect In Trump's First 100 Days - Credit Agricole

The USD bulls have had a dismal start to 2017 but are hoping that President Trump’s first 100 days in office can revive the dollar rally. ‘Trumponomics’ is based on three pillars: fiscal stimulus, deregulation and protectionism....We expect President Trump to hit the ground running next week, with early executive-order […]

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PIG TODAY-AUD/USD hits fresh two-month high and retreats

After an initial dip below 0.75 mark, the AUD/USD pair regained traction and spiked to fresh two-month high, reversing previous session's corrective slide. Currently trading around 0.7555-60 region, the pair accelerated its recovery move amid some renewed US Dollar selling pressure across the board. Moreover, possibilities […]

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PIG TODAY-19.01.2017-Tech Targets: EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD - UOB

EUR/USD: Neutral: Back in a range, likely between 1.0500 and 1.0715. Instead of extending higher, EUR dropped sharply yesterday from a high of 1.0715. The short-term undertone has shifted from positive to neutral and this pair has likely moved back into a consolidation phase. In other words, we expect range trading for now, […]

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PIG TODAY-GBP/USD Forecast: back below 1.2300 handle as USD selling abates

On Wednesday, the greenback reversed some of Trump-led losses and build on to its strength after the Fed Chair Janet Yellen reiterated her stand to gradually raise interest rates. In her comments, Yellen said that the economy is close to full employment and that inflation is progressing towards the bank’s 2 percent goal. […]

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PIG TODAY-Trading The ECB: Views From 15 Major Banks

Goldman: No Change, Little Action From The Meeting. The ECB's Governing Council will meet on Thursday, January 19. In line with the broad market consensus, we expect little action at the meeting, based on the lack of market news since December. Specifically, we expect key policy rates to be left unchanged, and no changes to […]

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PIG TODAY-Trading The BoC - Views From 10 Major Banks

We expect CAD to outperform other commodity currencies. CAD is not as vulnerable as MXN to trade protectionism given a prior free trade agreement which would take effect if the US backs out of NAFTA, though this remains a risk. However, a better US economic outlook (from other policies like fiscal stimulus) should benefit […]

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PIG TODAY-18.01.2017-Tech Targets: EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD - UOB

EUR/USD: Neutral: Room for further EUR strength towards 1.0800. As noted in recent updates, we expect EUR to remain supported in the short-term as long as 1.0500 is intact. Upward momentum has improved further with the move above last week’s peak of 1.0684 and from here, the current EUR strength could extend further towards […]

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PIG TODAY-17.01.2017-Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - UOB

EUR/USD: Neutral: Positive outlook as long as above 1.0500. There is no change to the current view wherein we expect EUR to remain supported in the short-term as long as 1.0500 is intact. However, it is unclear at this stage if EUR can move higher in a sustained manner even though technically, the next significant […]

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PIG TODAY-USD, EUR, GBP, CHF, CAD, AUD, NZD: Weekly Outlook - Morgan Stanley

USD: Buying the Dip. Bullish. We believe the current USD correction is of a positioning adjustment nature and remain structurally bullish on the USD. Therefore, we use the USD dip to add long positions to our portfolio. US data has continued to come in on the strong side, most recently reflected in the NFIB small business […]

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PIG TODAY-16.01.2017- Tech Targets: EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD - UOB

EUR/USD: Neutral: Positive outlook as long as above 1.0500. EUR registered an ‘inside day’ last Friday and there is no change to our view wherein we deem the short-term outlook as ‘positive’ as long as the key 1.0500 support is intact. However, it is unclear at this stage if EUR can move higher in a sustained manner (even […]

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PIG TODAY-The 5 Stages Of The Trump Trade - Deutsche Bank

There are probably five defining stages for the “Trump trade”: Trading i) ‘the promise’; ii) the deal-making; iii) the enactment; iv) the economic impact, and, v) the payback. i) The promise stage is done. It has been powerful, precisely because it has involved a possible paradigm shift in cyclical stimulus and because the […]

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PIG TODAY-UK Press: Trump says Brexit will ‘end up being a great thing’

The UK Times reported comments from the US president-elect Trump, via Reuters, as he spoke on Brexit in an interview held over the weekend. Key Headlines: Brexit will "end up being a great thing" Britons voted for Brexit because the UK wanted its own identity "We're gonna work very hard to get it done quickly and done […]

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Market Events to Watch This Week

Monday, January 16US Holiday Martin Luther King Day Tuesday, January 174:30am GBP CPI y/y Wednesday, January 184:30am GBP Average Earnings Index 3m/y4:30am GBP Claimant Count Change8:30am USD CPI m/m8:30am USD Core CPI m/m10:00am CAD BOC Monetary Policy Report11:15am CAD BOC Press Conference7:30pm AUD Employment Change […]

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Week Ahead: Trump Presser Weakens Dollar Awaiting US Inflation Report

Dollar softer ahead of inflation, BoC and ECB The defining moment of the week for the USD came as the first press conference of the President-elect Donald Trump unfolded. Few details on topics the market cared like infrastructure spending or fiscal stimulus were shared while the most combative aspects of his campaign were […]

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PIG TODAY-13.01.2017-Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - UOB

EUR/USD: Neutral: Positive outlook as long as above 1.0500. EUR exceeded the major resistance indicated at 1.0650/70 yesterday to hit a high of 1.0684 but the up-move was shortlived. Despite the pull-back from the high, the outlook for EUR is still positive but at this stage, it is unclear if it can continue to move higher […]

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PIG TODAY-GBP: More Downside On Article 50 Activation; Staying Short - Goldman Sachs

We see the path for the British Pound as a function of two things. First, there is the question of where GBP/$ would trade in the event of a “hard Brexit.” We have used several approaches to show that Sterling could fall between 20-40 percent relative to pre-referendum levels, with a low of 1.10 for GBP/$ quite possible. […]

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PIG TODAY-USD/JPY: Trading The Correction Tactically & Strategically - Westpac

We have run with a passive  ‘buy on dips’ bias for much of the last quarter without success. Now is not the time to step up. We see 118/120 as a very tough cap for USD/JPY near term, and with a market that remains very short the ¥, risks of correction back towards 110/112 look reasonably high.  This would be a huge buying […]

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PIG TODAY-12.01.2017-Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - UOB

EUR/USD: Neutral: In a range, likely between 1.0420 and 1.0620. EUR registered a range of 1.0452/1.0622 yesterday, which almost covers the whole of our expected 1 to 3 weeks consolidation range of 1.0420/1.0620 (first indicated last Thursday). At this stage, there is no pre-indication that EUR is ready stage a ‘break-out’. […]

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PIG TODAY-11.01.2017-Tech Targets: EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD - UOB

EUR/USD: Neutral: In a range, likely between 1.0420 and 1.0620. EUR edged above the strong 1.0620 resistance once again but eased off quickly after touching a high of 1.0626 yesterday. The price action is line with our expectation wherein we view the current movement as part of a 1.0420/1.0620 consolidation range. That […]

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PIG TODAY-EUR/USD still points to a test of 1.0700 – Commerzbank

According to technicals, the pair could still attempt a test of the 1.0700 handle and above, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank. Key Quotes “EUR/USD has seen a slight erosion of the short term resistance line, which has not been sustained – it is too early to say whether this is a false […]

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PIG TODAY-USD: Near-term pullback could continue - BNPP

Research Team at BNP Paribas remains quite constructive on the USD as we move into 2017, but, with US nominal and real yields well-off their December highs now and the market already long USD according to their metrics, they see some scope for a near-term pullback vs the core currencies, particularly if equity markets give […]

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PIG TODAY-10.01.2017-Tech Targets: EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD - UOB

EUR/USD: Neutral: In a range, likely between 1.0420 and 1.0620. There is not much add; as noted yesterday, the near-term bias is tilted to the upside but 1.0620 is expected to offer stiff resistance in the coming days followed closely by the major resistance zone near 1.0650/70. Overall, EUR is expected to stay underpinned […]

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PIG TODAY-USD: When Will The USD Peak? 99 Days After Trump's Inauguration - SocGen

Over the last few years, the relationship between FX rates and interest rate differentials has shifted. The chart below shows DXY-weighted 10year real yield differentials next to the DXY index. Not perfect, but not bad. This fit is better than for 10year nominal yields, and better than for 10 or 2 year swap differentials […]

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MARKET EVENTS TO WATCH THIS WEEK

Monday, January 97:30pm AUD Retail Sales m/m8:30pm CNY CPI y/y Wednesday, January 114:30am GBP Manufacturing Production m/m10:30am USD Crude Oil Inventories Thursday, January 128:30am USD Unemployment Claims7:00pm USD Fed Chair Yellen Speaks Friday, January 138:30am USD Core Retail Sales m/m8:30am USD PPI m/m8:30am USD […]

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Week Ahead – US Wage Gains Lift Dollar Despite Jobs Miss

Solid economic data supports USD The markets picked up where they left off last year. The release of the FOMC minutes from the December meeting and President-elect Trump’s tweets impacted prices and almost overshadowed the release of the biggest economic indicator: the non-farm payroll report. The U.S. Federal Reserve […]

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PIG TODAY-06.01.2017-Tech Targets: EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD - UOB

EUR/USD: Neutral: In a range, likely between 1.0420 and 1.0620. EUR touched a high of 1.0615 yesterday, just a few pips below our expected sideways consolidation range of 1.0420/1.0620. While the swift and sharp rally has resulted in a positive undertone, we prefer to wait for a clear break above the major 1.0650/70 zone […]

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PIG TODAY-USD/JPY recovery gains traction, hits fresh session peak

The USD/JPY pair extended recovery momentum from the vicinity of 115.00 psychological mark and is now building on to its strength back above 116.00 handle. Market participants remain convinced that fiscal policy by the incoming Trump administration would lead to faster US economic growth and hence, dip-buying strategy is […]

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PIG TODAY-Preview: What To Expect From NFP? - Views From 10 Major Banks

Credit Agricole: Our US economist looks for firm US economic data this week with NFP predicted to rise by 185K and the unemployment rate to tick upward to 4.7% Goldman: We are in line with consensus across the board for payrolls on Friday, where we expect 180k on the headline and the unemployment rate to tick up to 4.7%. […]

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PIG TODAY-05.01.2017-Tech Targets: EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD - UOB

EUR/USD: Neutral: Back in a range, likely between 1.0420 and 1.0620. We highlighted yesterday that the condition for the current neutral outlook to shift to bearish is only upon a clear break below 1.0335/40. The sharp rebound yesterday indicates that the immediate downward pressure has eased and EUR has likely moved back […]

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PIG TODAY-EUR/USD on a steady recovery path, back at 1.0450

The EUR/USD pair found just below 10-DMA support, and from there takes on another attempt higher, in a bid to regain 5-DMA barrier located at 1.0449. EUR/USD: 1.0500 back on sight? Currently, EUR/USD trades -0.10% lower at 1.0444, recovering from session lows struck earlier at 1.0433. The bulls appear to have fought back […]

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PIG TODAY-Gold: Limited upside into 2017 - BAML

Analysts at Bank of America Merrill Lynch note that the gold has faced strong headwinds after the US presidential election, as rising nominal rates have also pulled up real rates, with the latter generally the most important price driver. Key Quotes “Given the macroeconomic backdrop in the US, we see limited upside to the […]

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PIG TODAY-Kuroda defends BOJ's yield curve control, upbeat on global outlook

Bank of Japan Governor Haruhiko Kuroda defended his yield curve control policy on Monday, saying it had kept Japan's long-term interest rates from joining the uptrend in global yields and was helping the economy overcome stagnation. Kuroda also shrugged off criticism made by some academics that his 2 percent inflation […]

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PIG TODAY-Dollar slips as investors question whether Trump can deliver growth

The dollar declined Monday as market participants waited to see if the administration of U.S. President-elect Donald Trump can deliver new pro-growth economic policies next year. Trading was thin because participants in many countries were away for public holidays. Some profit-taking on the dollar’s recent surge weighed on […]

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PIG TODAY-World trade takes another beating and heads for worst year since 2009 - ING

Raoul Leering, Head of International Trade Analysis at ING, notes that the global trade in volume terms took another beating in October and is heading for its worst year since the trade collapse in 2009. Key Quotes “Due to structural changes and little support from the economic cycle, a turnaround in the short run is […]

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PIG TODAY-GBP/USD quiet around 1.2350, eyeing US data for fresh impetus

The GBP/USD pair witnessed a tepid recovery bounce on Thursday and spiked to 1.2380 region during early European session, but remained confined within a broader trading range. The pair quickly faded the spike and retraced sharply to currently trade around 1.2350 region, testing session low. The US Dollar extended its […]

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PIG TODAY-EUR/USD side-lined below 1.0450 ahead of US data dump

The EUR/USD pair is seen extending its consolidative mode seen into the European session, after having peaked just shy of the mid-point of 1.04 handle. EUR/USD: 1.0400 back on sight? Currently, EUR/USD trades +0.09% higher to 1.0435, heading for a test of daily lows struck earlier at 1.0421. The recovery in the US dollar […]

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PIG TODAY-EUR/USD: Make Or Break At 1.0465; GBP/USD: Make Or Break At 1.2330 - SocGen

After consolidating within a broad range since March 2015, EUR/USD is now breaching below the lower bound (1.0465) pointing towards possibility of further down move. On daily chart the pair has moved below a multi month descending channel (at 1.0465/1.0510). Daily RSI is at a higher level as compared to November trough […]

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PIG TODAY-Goldman Sachs: China's reliance on credit growth remains a key risk in 2017

Analysts at Goldman Sachs express their take on the Chinese economic outlook and Yuan price-forecast for 2017, noting that long $/CNY is one of their 2016 Top Trades." Key Quotes: On China economic outlook: “A potential resurgence in Chinese growth fears early next year, but more broadly, a continued bumpy deceleration.” […]

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PIG TODAY-Brexit guessing game to continue weighing on GBP in 1H17 - ING

Viraj Patel, Foreign Exchange Strategist at ING, views that GBP price action since Brexit has been reflective of some weighted distribution of the various endgame outcomes, with the probabilities shifting as developments unfold. Key Quotes “While this has led to near-term volatility, we believe the broader risks to GBP […]

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PIG TODAY-EUR/USD, USD/JPY, NZD/USD: Tech Setups & Targets - SocGen

EUR/USD is piercing below lower bound of broad consolidation in force since 2015 (1.0465). A weekly close below 1.0465 remains needed to deepen the correction.In such a case, the pair will head to next significant support at 1.0180/1.00, 76.4% retracement of 2000-2008 up trend. 1.03/1.0260 is interim support USD/JPY tested […]

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PIG TODAY-Dollar drifts lower against major crosses

The dollar was moderately lower against the yen and the euro in an otherwise quiet Asian session on Wednesday, with investors taking profits on recent gains in the U.S. currency. The U.S. currency USDJPY, -0.27% was changing hands at ¥117.67, compared with ¥117.88 late Tuesday in New York. The WSJ Dollar Index BUXX, -0.13% […]

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PIG TODAY-USD/CAD erases gains amid higher Oil & bearish DXY

The Canadian dollar is trying hard to fight back control versus its Canadian counterpart in early Europe, with USD/CAD surrendering all of its gains and now moves further away from three-week tops USD/CAD comes down to test 5-DMA Currently, the USD/CAD pair is last seen exchanging hands at 1.3365, almost unchanged on the […]

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EUR/USD: Bears back in control, 2016 lows on sight?

The EUR/USD pair extends its consolidative mode near multi-year lows, now pushing the rate back below 1.04 handle amid resurgent USD demand across the board, as risk-on returns to markets. EUR/USD breaches 1.0400 again, what next? Currently, EUR/USD inches -0.05% lower to trade near daily lows of 1.0390, having failed to […]

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USD/JPY flirts with 117.50 ahead of BOJ Kuroda’s presser

The USD/JPY pair rallied as high as 117.58 following BOJ’s unchanged monetary policy decision, before retreating to 117.20 region, where the bulls once again took over control, sending the rate back towards daily tops. USD/JPY flirts with 117.50 The dollar-yen pair appears to have regained poise and now looks to extend the […]

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PIG TODAY-EUR/USD: Major Breakdown Underway: Levels & Targets - BofA Merrill

It’s been nearly a year since EUR/USD was trading this low. Last December we had enough technical evidence to go against the grain. However this time it seems more likely that EUR/USD will break down. The break down through major support of 1.0450- 1.05 could be technically devastating for 2017 as it would signal a […]

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PIG TODAY-USD: 'Something Special' Happened; Staying Short EUR/USD - Deutsche Bank

Something special happened last week: Fed funds - the interest rate on overnight dollars - rose to 66bps.Why is this important? Because historically, it is not only the direction of US yields that matters for the dollar but also the absolute level. When the USD joins the ranks of the high-yielders – defined as having at […]

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PIG TODAY-USD, EUR, GBP, CHF, CAD, NZD: Weekly Outlook - Morgan Stanley

USD: Bullish Following Fed. Neutral. We previously saw USD beginning to rally again in the new year. Following the hawkish Fed meeting, we are bringing forward that expected strength and expect USD to rally in line with the themes we have been discussing. The revising up of the 2017 dots and the neutral rate, along with […]

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PIG TODAY-EUR/USD finds support from weaker treasury yields, Ifo eyed

The EUR/USD pair tries hard to build on Friday’s recovery, although finds some from broad based US dollar weakness in tandem with weaker US treasury yields. EUR/USD hovers around 5-DMA at 1.0461 Currently, EUR/USD trades modestly higher at 1.0458, unable to chew offers lined up near 1.0470 region. The main currency pair […]

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Week Ahead: Bank of Japan in the Spotlight

BOJ weighing next action after Fed rate hike The USD is higher across the board after the Fed finally announced its much awaited rate hike. The market had already priced in the 25 basis points rate hike to the Fed funds rate, but the hawkish tone of the FOMC statement, dot plot and Fed Chair Janet Yellen’s press conference […]

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PIG TODAY-Fed: Pick up in pace of rate hikes could make further USD upside more difficult - MUFG

Lee Hardman, Currency Analyst at MUFG, suggests that the market is already discounting a significant pick up in the pace of rate hikes which could make further US dollar upside more difficult. Key Quotes “The risk of further disappointment has increased as the market has adjusted to discount more significant tightening […]

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PIG TODAY-GBP/USD drops back towards 1.2400 as risk-off seeps-in

The ongoing recovery in the GBP/USD pair ran out of steam at the psychological levels of 1.2450, knocking-off the rate back towards 1.24 handle, as risk-off returned to markets amid a broad retreat in risky assets such as the European stocks, oil prices and treasury yields. However, the renewed downslide in the major is […]

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PIG TODAY-EUR/USD: Will buyers retain control above 1.0400?

The recovery in the EUR/USD pair gained further traction in early Europe, driving the rate further into positive territory near the mid-point of 1.04 handle. EUR/USD sees 80-pips recovery from 14-year lows Currently, EUR/USD advances +0.28% to fresh daily highs of 1.0442, extending the break above 1.04 barrier. The main […]

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PIG TODAY-USD: The 'Trumpflation Trade' Is Still In Full Swing, What's Next? - Nomura

The FOMC delivered the market a hawkish surprise this week, with the 2017 dots signalling three hikes next year, up from the two signalled in September. USD strength followed, and we think USD/JPY has the furthest to run. With the BOJ remaining committed to its yield control policy, the widening rates differential is likely […]

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PIG TODAY-EUR/USD: Weekly Close Key; AUD/USD: Daily MACD In Negative Territory - SocGen

EUR/USD is now breaching the lower bound of the broad consolidation zone in force since March 2015 (1.0465), and has broken below a multi-month downward channel. Monthly indicators are close to a horizontal support, suggesting a weekly close below 1.0465 remains needed to signal a deeper correction. Only in such a scenario […]

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PIG TODAY-GBP: BoE Won't Meaningfully Shift The Dial For GBP - BofA Merrill

We expect no change in Bank of England (B our forecast for a rate cut and QE extension in February. official er to justify and QE seems politically unacceptable now. We still think the outlook warrants further easing, however, and therefore expect the BoE to return to the table later in 2017. The monetary stimulus in the […]

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PIG TODAY-EUR/USD Breaks 1.0500 as Fed Connects the Dots

EUR/USD finally cracks 1.0500 as the Federal Reserve puts more dots in its plots then expected. EUR/USD and 1.0500 seem to be a bit like the Fed’s rate hike last night. A TV programmes season finale that has just dragged on far too long. This morning in Asia though the series finale finally came to an end with Euro breaking […]

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PIG TODAY-EUR/USD reverses early gains as pre-Fed nerves dominate

The EUR/USD pair once again ran through fresh offers near 1.0665 resistance and dropped to a fresh session low, albeit remained comfortably above 1.0600 handle. Currently trading around 1.0620-25 region, reemergence of greenback buying interest, in absence of any major market moving releases from Euro-zone, seems to be the […]

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PIG TODAY-EUR/USD: Bulls once again run into 1.0665 resistance, Fed eyed

The EUR/USD pair extends its recovery mode into the European session, as the offered tone behind the greenback keeps growing bigger amid tumbling US treasury yields. EUR/USD: Will the recovery last? Currently, EUR/USD trades +0.29% higher at 1.0657, having posted fresh daily highs at 1.0665, finally surpassing hourly […]

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PIG TODAY-14.12.2016-Tech Targets: EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD - UOB

EUR/USD: Neutral: Downward pressure but expects strong support at 1.0505. As highlighted yesterday, we were of the view that as long as the strong 1.0670 resistance is intact, another attempt to move lower towards the major 1.0505 support could not be ruled out (even though the odds for such a move are not high). EUR […]

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PIG TODAY-Goldman Sachs on FOMC & USD: Fed to raise the federal funds rate by 25bp

The US economists at Goldman Sachs published their preview on the upcoming FOMC interest rate decision and its impact on the greenback. Key Quotes via eFX: “In line with market pricing, we expect the FOMC to raise the federal funds rate by 25bp.” “From there, our US economists price a more sizeable tightening cycle than the […]

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

EUR/USD: Neutral: Downward pressure but expects strong support at 1.0505. EUR registered an ‘outside day’ yesterday and closed on a rather strong note. The recent downward pressure has eased but until there is a clear move above the strong 1.0670 resistance, another attempt to move lower towards the major 1.0505 support […]

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PIG TODAY-Look for the Fed to hike interest rates this week and to ignore the elephant in the room

You can expect the Federal Reserve to raise interest rates this week, but look for it to shy away from the bigger question looming for financial markets: How does the shock outcome of the presidential election change the economic landscape? The Fed is widely expected to announce an increase in the target range for its […]

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PIG TODAY-EURUSD: 1.05 region providing decent support – Lloyds Bank

Research Team at Lloyds Bank suggests that the 1.05 region is again seemingly providing decent support to the EURUSD pair ahead of the 1.0450 lows set back in March 2015. Key Quotes “We see the medium-term range over this support as corrective ahead of a breakdown towards 1.0250 and potentially key long-term support in the […]

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PIG TODAY-CAD: One more leg down toward 1.3080 - BBH

Research Team at BBH notes that the Canadian dollar was the strongest of the majors, gaining 2% against the US dollar. Key Quotes “Steady oil prices at elevated levels and the fact that Canada's discount on two-year money finished at the lows for the week may have been contributing factors.  Typically, the Canadian dollar […]

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Week Ahead – Fed Highly Anticipated to Hike US Rates

Fed to finally raise rates in 2016 after turbulent year The U.S. Federal Reserve gets ready for the final monetary policy meeting of the year, and just like last year there is a high probability of a rate hike announcement. The U.S. Federal Reserve will publish the Federal Open Market Committee (FOMC) statement on […]

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PIG TODAY-EUR/USD: ECB Delivered A 'Bazooka'; Stay Short & Sell Rallies - ANZ

The ECB delivered a bazooka. It extended QE (by €540bn), allowed the purchase of bonds with a minimum one year maturity and the purchase of bonds with yields below the deposit rate (-40bps). he euro fell and the forthcoming political cycle suggests portfolio outflows from the euro area will continue. Further EUR […]

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PIG TODAY-09.12.2016- Tech Targets: EUR/USD, GBP/USD, USD/JPY, AUD/USD, NZD/USD - UOB

EUR/USD: Neutral: Downward pressure but expects strong support at 1.0505. EUR registered a huge range of 277 pips yesterday but ended the day near the day’s low. The weak daily closing suggests that the near-term bias is tilted the downside but based on the current momentum, any further weakness is expected to encounter […]

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PIG TODAY-NZD is strong for good reason and is likely to remain that way - BNZ

Jason Wong, Currency Strategist at BNZ, suggests that the NZD has typically traded above long-term fair value for such a long time owing to the above-normal terms of trade Key Quotes “On a TWI basis, the NZD has traded above our long-term (PPP) fair value estimate for much of the past 12 years, supported by NZ's strong […]

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PIG TODAY-ECB meeting: Lower but longer - ING

Carsten Brzeski, Chief Economist at ING, takes a note that the ECB surprised markets by announcing an extension of its QE programme, albeit at a lower monthly pace and lower but longer, instead of extend and pretend, has given markets something to chew on. Key Quotes “At meeting, the ECB decided on several changes to its QE […]

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PIG TODAY-08.12.2016-Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - UOB

EUR/USD: Neutral: Room for extension higher to 1.0850. EUR traded in a relatively narrow range yesterday and there is no change to the view wherein we expect the ‘post-Italian referendum’ up-move to extend higher towards 1.0850. At this stage, a sustained move above 1.0850 seems unlikely. Only a move below 1.0640 would […]

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PIG TODAY-USD: Beware Of The Risk Of USD 'Scarcity' In 2017 - SocGen

Mind the large gap between expected spot performance and expected total return. This of course reflects the fact that running USD shorts most often (not vs AUD and USD) implies a cost of carry. For EUR/USD, for example, that cost is 1.9% over one year, the largest cost in more than ten years. This largely reflects the […]

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PIG TODAY-ECB between a rock and a hard place - ANZ

The market is optimistic that the ECB will extend its quantitative easing programme today at current levels for a further six months, notes Sharon Zollner, Senior Economist at ANZ. Key Quotes “There is a real risk of unpleasantness in European bond, equity and FX markets if Draghi doesn’t at least meet expectations. […]

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