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Tag Archives: forex tips

USD/CAD Range Vulnerable to Strong Canada Employment Report

– Canada Employment to Increase for Sixth Consecutive Month. – Jobless Rate to Pick Up From 6.5%- Lowest Since 2008. Trading the News: Canada Net Change in Employment Another 15.0K rise in Canada Employment may undermine the recent rebound in USD/CAD as the ongoing improvement in the labor market puts pressure on the Bank of Canada (BoC) to lift the benchmark interest rate off of the record-low. Why Is This Event Important: Even though the BoC ...

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USD/CAD Fails to Hold Monthly Range Ahead of FOMC Meeting

Talking Points: – USD/CAD Fails to Hold Monthly Range Ahead of FOMC Meeting Amid Strong Canada Employment. – GBP/USD Tumbles Amid Hung U.K. Parliament; Former-Resistance Zone in Focus. The Canadian dollar outperforms its major counterpart as the region’s employment report showed a 54.5K jump in job growth, but the USD/CAD may continue to operate within a narrow range as market attention turns to the Federal Open...

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Australian Dollar Recovery to Face Lowest GDP Print Since 2009

– Australia 1Q GDP to Expand Annualized 1.6%- Slowest Pace of Growth Since 2009. –Will the Reserve Bank of Australia (RBA) Further Support the Economy? Trading the News: Australia Gross Domestic Product (GDP) Despite the limited market reaction to the Reserve Bank of Australia (RBA) interest rate decision, the 1Q Gross Domestic Product (GDP) report may undermine the recent rebound in the AUD/USD exchange rate as the ...

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AUD/USD Bullish Reversal in the Spotlight as RBA Takes Center Stage

Talking Points AUD/USD breakout under review ahead of RBA Interest Rate Decision Check out our 2Q AUD/USD projections in our Free DailyFX Trading Forecasts. Join Michael for Live Weekly Strategy Webinars on Mondays at 12:30GMT AUD/USD Daily Technical Outlook:We discussed this setup at length in today’s Strategy Webinar and heading into the Reserve Bank of Australia (RBA) interest rate decision later tonight, the focus is on the breakout of this descending...

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Australian Dollar Remains Vulnerable To China Data

Fundamental Australian Dollar Forecast: Bearish The Australian Dollar can look to a central bank decision and official GDP data this week But Aussie monetary policy is going nowhere and the growth figures may now be too historic Watch the China data instead Learn more about trading the Australian Dollar and all the Asia/Pacific majors with theDailyFX guide A versatile actor on the currency stage, the Australian Dollar plays many different roles. The trick ...

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Weak Reference Rate, Falling HIBOR Could Lead to Pullback in Yuan

Fundamental Forecast for CNH: Neutral Yuan Soared to 7-Month High – What’s Next? Politics Drives Dollar-Yuan Reversal, What Gets Risk Back on Track? Check out the full DailyFX Economic Calendar for top events. The USD/CNH broke a key support level (resistance for the Yuan) this week, amid tightened Yuan liquidity in the offshore market. HIBOR O/N, Yuan’s borrowing cost in Hong Kong’s interbank market, soared to 42.8% on June 1st, the highest level since January. On...

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Oil Price is Not Dictated by OPEC, Market Conditions and Demand Guide

Fundamental Forecast for US Oil : Neutral Talking Points: OPEC extend production cuts and hints of further belt tightening, the market ignores the news Demand is proving slow to change even as the summer driving season swings in for the North The Trump administration’s withdrawal from the Paris Climate deal is unlikely to change dynamics What do the DailyFX Analysts forecast for the technical and fundamental direction for crude oil through ...

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AUD/USD Initiates Bearish Sequence; Eyes May Low Ahead of RBA Meeting

Talking Points: – USD/CAD to Recoup May Losses on Strong Non-Farm Payrolls (NFP) Report. – AUD/USD Initiates Bearish Sequence; Eyes May Low Ahead of RBA Meeting. USD/CAD holds a narrow range going into the end of the week, with the exchange rate pulling back from a weekly high of 1.3523, but the pair may continue to retrace the decline from the previous month as the U.S. Non-Farm Payrolls (NFP) report is expected to show...

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Cable Reversal Targets Monthly Open Ahead of NFPs, UK Elections

Talking Points GBP/USD reversal off support in focus- approaching initial resistance targets Check out our 2Q GBPUSD projections in our Free DailyFX Trading Forecasts. Join Michael for Live Weekly Strategy Webinars on Mondays at 12:30GMT GBP/USD Daily Technical Outlook:We highlighted this critical slope in cable earlier this month as the pair was approaching resistance with the pullback now responding to support at the December 2016 highs at 1.2775. So was that the extent of the correction? It’s ...

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