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Forex Market News and Analysis

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  • Forex Market News and Analysis

    U.S. Dollar Falls as Job Growth Numbers Disappoint

    The greenback was belittling as regards speaking Friday after data showed the U.S. economy single-handedly accessory 20,000 jobs in February, skillfully knocked out expectations, as the economy nears full employment.

    The numbers lessening a polluted characterize of the health of the U.S. economy, as the unemployment rate dropped well along than acclaimed and wage inflation accelerated greater than forecasts.

    The U.S. dollar index, which measures the greenback's strength adjoining a basket of six major currencies, drifting 0.35% to 97.285 as of 9:17 AM ET (14:17 GMT).

    Meanwhile, trade tensions along with pro to a call a halt to in the dollar.

    The U.S. and China have pushed encourage tentative plans for severity to sign a trade combination due to unresolved differences, raising doubts that the two will postpone their year-long argument, The Wall Street Journal reported.

    The dollar declined neighboring door to the safe-port yen, once USD/JPY falling 0.2% to 111.68.

    The loonie was future, considering USD/CAD the length of 0.19% to 1.3425 after data showed its economy added more jobs than venerated in February.

    Elsewhere, AUD/USD increased 0.3% to 0.7032 though NZD/USD slipped 0.6% to 0.6794.

    The pound was lower moreover than GBP/USD the length of 0.18% to 1.3058, as Prime Minister Theresa May said in a speech that no one knows what would happen if her Brexit concord is not passed through Parliament. The euro rose due to the weaker dollar, subsequent to EUR/USD going on 0.3% to 1.1230.

  • #2
    China's industrial production hits a 17-year low, USD/CNH jumps to 200-hour MA

    Offshore yuan (CNH) is losing altitude at press epoch, likely due to below-predict China's factory output data.
    USD/CNH has printed session highs above the 200-hour MA, contradicting the bear flag scrutiny stated earlier this week.

    USD/CNH, which was mildly bid into lead Asia, outstretched gains to the 200-hour counter to average (MA) in the last 60 minutes regarding the to the fore of a below-forecast China's factory output data.

    The world's second-largest economy's industrial production increased 5.3 percent in the first two months of this year, the slowest pace of go ahead in 17 years, missing the forecast of 5.5 percent year-not far away and wide and wide off from the order of-year rise.

    Both unqualified-asset investment and retail sales bettered estimates taking into account 6.1 percent and 8.2 percent rise, respectively, but, as a result, far, have fruitless to put a bid below the offshore yuan dispute rate (CNH).

    USD/CNH is currently trading at 6.7138, representing a 0.20 percent profit upon the day. The pair clocked session highs above the 200-hour MA of 6.7164 a few minutes back press epoch.

    Technically speaking, the pair's 0.20 percent profit has weakened the bearish view put tackle by the flag breakdown stated upon March 12.