Forex - U.S. Dollar Falls After Fed Decision; BOJ Holds - Investing.com

-

Forex - U.S. Dollar Falls After Fed Decision; BOJ Holds - Investing.com

Forex - U.S. Dollar Falls After Fed Decision; BOJ Holds - Investing.com

Posted: 19 Jun 2019 08:33 PM PDT

© Reuters. © Reuters.

Investing.com - The U.S. dollar fell to three month lows against a currency basket on Thursday in Asia after the Federal Reserve signalled it was prepared to lower interest rates amid mounting concerns over the global growth outlook.

The that tracks the greenback against a basket of other currencies was down 0.2% to 96.385 by 11:26 PM ET (03:26 GMT).

The U.S. central bank left borrowing costs unchanged on Wednesday, but suggested it could ease monetary policy as early as next month amid mounting concerns over the economic impact of global trade tensions and subdued inflation.

"The main question is no longer if the Fed will cut rates in July, but whether the easing will be by 25 or 50 basis points," said Daisuke Karakama, chief market economist at Mizuho Bank, in a Reuters report.

Meanwhile, the Bank of Japan kept monetary policy steady on Thursday, but echoed the Fed in warning that global risks were increasing amid trade tensions and uncertainty over U.S. economic policies, signaling that it, too, is leaning more toward ramping up monetary support.

The was down 0.4% to 107.60 following the release of the statement.

The pair gained 0.6% to 0.6573. Data showed today that New Zealand's GDP growth for the quarter ended March was at 0.6%, in line with expectations. However, some said underlying weakness in the housing market and immigration added to the rising external pressure on the economy.

The pair rose 0.2% to 0.6894.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

FOREX-Dollar near 2-week high as investors wait for Fed after dovish ECB - Reuters

Posted: 19 Jun 2019 12:40 AM PDT

* All eyes on Fed meeting, Powell speech

* Surprise Draghi u-turn sent euro to two-week low

* Yuan pulls back from three-week high on trade hopes

* Graphic: World FX rates in 2019 tmsnrt.rs/2egbfVh

By Tommy Wilkes

LONDON, June 19 (Reuters) - The euro hovered near two-week lows against the dollar on Wednesday as investors waited to see if the U.S. Federal Reserve would follow the lead of the European Central Bank and sound as dovish on future interest rate cuts and stimulus.

ECB President Mario Draghi's about-face on easing on Tuesday fuelled talk of a worldwide wave of central bank stimulus, firing up stocks, bonds and commodities, although currency moves were smaller.

The Fed is scheduled to release its monetary policy statement at 1800 GMT, followed by a press conference by Chairman Jerome Powell shortly after. Futures are almost fully priced for a quarter-point easing in July and imply more than 60 basis points of cuts by Christmas.

The euro was unchanged at $1.1195 in early London trading, having fallen to a two-week low of $1.1181 on Tuesday after Draghi struck a dovish tone. The common currency dropped along with a decline in German government bond yields, which hit a new record low.

The dollar, measured against a basket of rival currencies, was flat at 97.621 after it hit a two-week high on Tuesday.

The greenback had been under pressure in late May as investors began to bet on Fed rate cuts in the face of global trade tensions and some signs of economic weakness, but expectations other central banks such as the ECB will follow suit have since helped the dollar recover.

"Relative to what the market is priced for, it's hard to see how they (the Fed) will surprise the market on the dovish side. The risks are the other way," said Adam Cole, a currencies strategist at RBC Capital Markets.

Cole said he believed the market was "underplaying" the significance of the outright spread between Europe and the United States, and even if the Fed cuts, investors will still be paying to hold euros while earning a relatively good yield with dollars.

That should support the dollar, with Cole predicting a euro low of $1.10 this year.

U.S. President Donald Trump said on Tuesday he would have an extended meeting with Chinese President Xi Jinping at the Group of 20 leaders summit later this month, raising investors' hopes that they can ease tensions in a trade dispute that has damaged the world economy.

"If a meeting between Trump and Xi goes well, sentiment will improve, which will be supportive for dollar/yen," said Tohru Sasaki, head of Japan markets research at JP Morgan Securities.

The yen was up 0.2% at 108.28 yen per dollar, suggesting investors remained cautious.

China's yuan pulled back from a three-week high hit on Tuesday following news Xi and Trump would meet. The offshore yuan last traded at 6.9062, down 0.1% on the day.

Sterling was little moved by Boris Johnson's confirmation as the frontrunner in the Conservative Party leadership contest. It was last down 0.1% at $1.2547. (Additional reporting by Shinichi Saoshiro in Tokyo Editing by Andrew Heavens)

Our Standards:The Thomson Reuters Trust Principles.

Forex - U.S. Dollar Slips as Markets Await Fed Policy Meeting - Investing.com

Posted: 16 Jun 2019 08:37 PM PDT

© Reuters. © Reuters.

Investing.com - The U.S. dollar slipped on Monday in Asia as traders awaited the upcoming Federal Reserve policy meeting later this week where Fed Chair Jerome Powell could open the door to rate cuts later in the year.

The last traded at 96.990, down 0.1%. It rose to its highest level in almost two weeks on Friday after the release of better-than-expected retail sales data for May.

"In addition to the upbeat U.S. data, the dollar is supported by weakness in other currencies, notably the euro and antipodeans," said Junichi Ishikawa, senior FX strategist at IG Securities, in a Reuters report.

"The Fed might cut rates sooner or later but so might its antipodean counterparts as well as the European Central Bank, and such views put the dollar at an advantage."

The pair was little changed at 6.9238. Chinese data on Friday flashed more warning signs, with industrial output growth unexpectedly slowing in May to a more than 17-year low.

On the Sino-U.S. trade front, U.S. Commerce Secretary Wilbur Ross said he does not expect a major trade deal between President Donald Trump and his Chinese counterpart Xi Jinping at the upcoming G-20 meeting.

"I think the most that will come out of the G-20 might be an agreement to actively resume talks," Ross said in an interview Sunday with the Wall Street Journal.

His comments came after Trump said on Friday it didn't matter if Xi attends the summit, adding that China would eventually make a trade deal with the U.S.

The pair gained 0.1% to 108.59.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Comments

Post a Comment

Popular posts from this blog

NZD/USD drops from weekly highs post-dismal ADP report, meanders around 0.6630s - FXStreet

-
Image
The NZD/USD snaps two consecutive days of gains, down 0.15%, amid a positive market mood. The US ADP employment report was dismal, though it barely influenced the US dollar. NZD/USD is downward biased, and failure to break above a downslope trendline opened the door for the YTD low. The New Zealand dollar climbs but retreats from weekly highs around 0.6662 after mixed than foreseen NZ jobs report released in the Asian session. At the time of writing, the NZD/USD is trading at 0.6637. The US ADP Employment report was ignored by investors as they prepare for Friday's NFP An hour and a half before Wall Street's opened, the ADP Jobs report was released. The figures were dismal, showing the losses of more than 301K employments when polled economists expected at least 207K private jobs added to the economy.  The ADP Chief Economist said that "The labor market recovery took a step back at the start of 2022 due to the effect of the Omicron va...
Read more

Position Sizer Expert Advisor for MT4/MT5 - EarnForex News

-
Image
Position Sizer (MetaTrader expert advisor) calculates how many lots to trade based on: Entry and stop-loss levels Risk tolerance Account size (balance, equity, or even your savings account) Account currency Currency exchange rates Its main features include: Works with any trading instruments — currency pairs, CFDs, equities, indices, commodities, futures, cryptocurrencies. Calculation inputs and results are displayed in a graphical panel. The panel can be moved freely across the chart. You can easily close or minimize it. All calculation parameters can be adjusted inside the panel in one or two mouse clicks. Entry, stop-loss, and take-profit lines can be dragged directly on the chart. You can choose to set stop-loss and take-profit as distance in points. Alternatively, you can set them as multiples of ATR (Average True Range). If a take-profit is given, the calculator shows the potential reward level and the risk-...
Read more

Wyckoff Method: Rules, Accumulation, and Distribution - Investopedia

-
Image
Legendary technician Richard Wyckoff wrote about financial markets in the early decades of the 20th century at the same time as did Charles Dow, Jesse Livermore, and other iconic market analysis figures. His pioneering approach to technical analysis known as the Wyckoff Method has survived into the modern era. It continues to guide traders and investors in the best ways to pick winning stocks, the most advantageous times to buy them, and the most effective risk management techniques to use. Wyckoff's observations on price action coalesced into what's known as the Wyckoff market cycle. It's a theory that outlines key elements in price trend development that are marked by periods of accumulation and distribution. Four distinct phases comprise the cycle: accumulation, markup, distribution, and markdown. Wykoff also defined rules to use in conjunction with these phases. These rules can further help to identify the location and significance of price within the broad s...
Read more