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Forex -GBP/USD near 27-month highs after U.K Data
Investing.com - The pound rose against the dollar on Tuesday, to trade near 27-month highs after data showed that activity in the U.K. construction sector expanded at the fastest rate in six years November.
GBP/USD was up 0.34% to 1.6411 during European morning trade, holding just below Monday’s high of 1.6441, the highest level since August 2011.Cable was likely to find support at 1.6341, Monday’s low and near-term resistance at 1.6441.
The U.K. construction purchasing managers' index rose to 62.6 in November, the highest level since August 2007, from 59.4 in October.
Analysts had expected the index to tick down to 59.0.
The report said overall activity rose for the seventh month in a row, with "sharp increases” in new orders and employment, while growth in house-building in November was the fastest in 10 years.
“Looking ahead, there are a number of positive signs that improvements in activity levels will be maintained, as job creation picked up again in November and confidence about the business outlook reached its highest level since September 2009,” senior economist at survey compiler Markit Tim Moore said.
The report came a day after data showed that the manufacturing sector in the U.K. expanded at the fastest rate in 33 months in November. The upbeat fuelled expectations that the Bank of England may tighten monetary policy ahead of other central banks.
Elsewhere, the euro was trading close to 11-month lows against sterling, with EUR/GBP slipping 0.13% to 0.8267.
Natural Gas (adapted from forexminute.com article)
Natural gas which has been receiving a lot of takers in the last nine days fell a little today on the New York Mercantile Exchange. Thus, snapping the longest rising streak since October 2006 amid forecasts for moderate temperatures in the U.S., the natural gas futures for January delivery dropped today.
Iran Willing to Dominate OPEC
OPEC, a cartel of oil producing countries will have Iran after the nuclear deals; however, the country is willing to become a dominant player here. The second biggest producer in the cartel, Iran is expected to cover the losses it incurred during the economic sanctions imposed by the US government on oil exports.
The U.S. Emerging as a Major Oil Producer
The significant improvement in the oil production by the United States has been the major development in the currency year. This has largely been spurred by production from new shale technology which may give a tough challenge to OPEC which has always been manipulating the oil production to profit and has often been criticized for such a manipulation.
Dollar remains lower vs. rivals on profit taking
Investing.com - The dollar remained broadly lower against the other major currencies on Tuesday, as investors locked in profits after unexpectedly strong U.S. manufacturing data strengthened the greenback.
During U.S. morning trade, USD/JPY dropped 0.42% to 102.51, after rising to highs of 103.38 earlier, the loftiest level since May 23.
The dollar was boosted after the Institute for Supply Management said Monday that manufacturing activity in the U.S. expanded at the fastest rate since April 2011 in November, fuelling optimism over the economic recovery.
The ISM manufacturing purchasing managers’ index rose to 57.3 in November from 56.4 in October. Analysts had expected the index to fall to 55.0.
Expectations that the Bank of Japan will have to expand its stimulus program in order to meet its target of 2% inflation by 2015 continued to weigh on the yen.
Elsewhere, EUR/USD was up 0.32% to 1.3585.
Official data earlier showed that the number of unemployed people in Spain declined by 2,500 in November, confounding expectations for an increase of 44,300, after a 87,000 climb the previous month.
The pound was trading close to 27-month highs against the dollar, withGBP/USD up 0.34% to 1.6411.
The U.K. construction purchasing managers' index rose to 62.6 in November, the highest level since August 2007, from 59.4 in October. Analysts had expected the index to tick down to 59.0.
The report came a day after data showed that the manufacturing sector in the U.K. expanded at the fastest rate in 33 months in November. The upbeat fuelled expectations that the Bank of England may tighten monetary policy ahead of other central banks.
The dollar slid lower against the Swiss franc, with USD/CHF down 0.45% to 0.9047.
The greenback was mixed to lower against the Australian, New Zealand and Canadian dollars, with AUD/USD rising 0.28% to 0.9131, NZD/USDclimbing 0.76% to 0.8248 and USD/CAD edging up 0.20% to 1.0664.
The Reserve Bank of Australia left rates unchanged at 2.5% on Tuesday, in a widely expected decision. The bank said the Australian dollar was still “uncomfortably high”, adding that a lower exchange rate is likely to be needed to achieve balanced growth.
The U.S. dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.32% to 80.66.
Forex - EUR/USD gains as investors sell greenback for profits
Investing.com - The dollar fell against the euro and most other currencies on Tuesday after investors locked in gains from Monday's better-than-expected manufacturing report and sold the greenback for profits.
In U.S. trading on Tuesday, EUR/USD was up 0.34% at 1.3586, up from a session low of 1.3524 and off from a high of 1.3595.
The pair was likely to find support at 1.3490, the low from Nov. 25, and resistance at 1.3616, Monday's high.
The dollar shot up on Monday after the Institute for Supply Management reported that U.S. manufacturing activity in November expanded at its fastest pace since April of 2011, fueling hopes that U.S. recovery is gaining steam.
The ISM manufacturing purchasing managers’ index rose to 57.3 in November from 56.4 in October.
Analysts were expecting the index to fall to 55.0, and the surprise uptick sparked demand for the dollar.
The report stoked market expectations for the Federal Reserve to begin scaling back its monthly asset-purchasing program in early 2014.
Fed bond purchases tend to keep the dollar weak by driving down long-term interest rates to spur recovery.
The euro, meanwhile, rose after Spain reported that the number of unemployed individuals in the country declined by 2,500 in November, defying more pessimistic consensus forecasts calling for an increase of 44,300 and much better than October's 87,000 increase.
The single currency was flat against the pound and down against the yen, with EUR/GBP trading down 0.01% at 0.8278 and EUR/JPY trading down 0.15% at 139.20.
On Wednesday, the euro zone is to release data on retail sales, while Spain and Italy are to publish their services PMIs.
The U.S. is to release the ADP report on private sector-job creation, while the Institute of Supply Management is to release its service-sector purchasing managers' index. The U.S is also to publish data on new home sales and data on its trade balance.
Who is it meant for ?
I am providing links + forex-related content.
No, you are not, edit your posts to do as requested please.
Hi there !
Raptor, I didn't get you...the links are in every post.
Please see this:
Let me know what to change.
Thanks
Hi there !
Raptor, I didn't get you...the links are in every post.
Please see this:
Let me know what to change.
Thanks
This is a link, you can click it https://www.mql5.com/en/forum this is not: https://www.mql5.com/en/forum your link needs to link to the content you are specifically quoting from and please check you are not breaching copyright rules.
Oh, ok. I got it now. So it needs to be hyper-linked. Nope, there is no such issue of copyrights. In fact, the whole website can be freely RSS-fed by another site. Any new post here will be properly hyper-linked.
Also, Alain, I want to create a separate Thread, fully and only devoted to Digital Currencies. Where to seek approval for opening thread, if possible ?
Thanks
Forex - USD/JPY dips on profit taking ahead of U.S. jobs report
Investing.com - The dollar dropped against the yen on Tuesday after investors sold the greenback for profits earned on a better-than-expected U.S. factory barometer, while the yen saw demand from bottom fishers looking past dovish comments out of the Bank of Japan.
In U.S. trading on Tuesday, USD/JPY was trading at 102.37, down 0.56%, up from a session low of 102.23 and off a high of 103.38.
The pair was likely to find support at 102.23, the earlier low, and resistance at 103.73, the high from May 22.
The dollar shot up on Monday after the Institute for Supply Management reported that U.S. manufacturing activity in November expanded at its fastest pace since April of 2011, fueling hopes that U.S. recovery is showing marked improvement.
The ISM manufacturing purchasing managers’ index rose to 57.3 in November from 56.4 in October.
Analysts were expecting the index to fall to 55.0, and the surprise uptick sparked demand for the dollar by stoking market expectations for the Federal Reserve to begin scaling back its monthly asset-purchasing program in early 2014.
Fed bond purchases, currently running at USD85 billion a month, tend to keep the dollar weak by driving down long-term interest rates to spur recovery, and talk of their dismantling often strengthens the greenback.
The dollar, however, traded lower on Tuesday as investors also awaited the release of the November jobs report on Friday, which could provide clues as to when the Fed will announce plans to taper asset purchases.
Monetary authorities have said they will pay close attention to economic indicators before deciding when to wind down stimulus programs.
Meanwhile the yen saw demand from bargain hunters after dropping on expectations for the Bank of Japan to beef up stimulus programs to meet its 2% inflation target by 2015.
On Monday, BoJ Governor Haruhiko Kuroda pledged to counter any new downside risks to the bank’s inflation goal, saying the BoJ would act by "adjusting monetary policy without hesitation."
The yen was up against the pound and up against the euro, withGBP/JPY down 0.22% and trading at 168.00 and EUR/JPY trading down 0.10% at 139.26.
On Wednesday, the U.S. is to release the ADP report on private-sector job creation, while the Institute of Supply Management is to release its service-sector purchasing managers' index. The U.S is also to publish data on new home sales and data on its trade balance.
Oh, ok. I got it now. So it needs to be hyper-linked. Nope, there is no such issue of copyrights. In fact, the whole website can be freely RSS-fed by another site. Any new post here will be properly hyper-linked.
Also, Alain, I want to create a separate Thread, fully and only devoted to Digital Currencies. Where to seek approval for opening thread, if possible ?
Thanks