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EUR/USD back to square one, in the mid-1.0600s

December 2, 2016 saxo bank news 0

The initial spike to the 1.0660/70 post-Payrolls has quickly fizzled out, leaving EUR/USD trading in the 1.0650 area as markets continue to digest the US docket. EUR/USD upside capped at 1.0690/1.0700 Spot keeps meandering the daily range following mixed results from the US labour market during November, with market participants still adjusting to the unexpected contraction of Average Hourly Earnings, a proxy of wage inflation. Other than that, the pair is managing well to keep the trade within the daily range, with the upside so far capped by the 1.0690/1.0700 band, where are located today’s top and the 23.6% Fibo of the November drop, all amidst a generalized softer tone around the buck.

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USD/MXN drops on Friday and erases weekly gains

September 3, 2016 saxo bank news 0

The Mexican peso rose sharply against the US dollar on Friday and erased weekly losses. USD/MXN is about to end the week near 18.50 after trading close to 19.00 just two days ago. The pair fell from 18.75 to 18.53 after the US employment report.

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RoboForex is the official sponsor of Limassol Police football team (RoboForex)

February 29, 2016 roboforex 0

We’re pleased to inform you that RoboForex Financial Group is an official sponsor of the Limassol Police Department football team. Supporting the participants of an amateur football league is the Company’s conscious step to help and promote local sport, which is sure to be a better way to invest funds than to hold expensive advertising campaigns. Moreover, our cooperation with the Police Department is another sign that the Company’s activity is completely transparent and that RoboForex is striving to operate honestly and legally in all spheres of the modern society

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RoboForex (CY) Ltd is a participant and the Gold sponsor of "iFX EXPO" (RoboForex)

January 18, 2016 roboforex 0

During the last week of January, Hong Kong will host “iFX EXPO”, an international exhibition. We’re pleased to inform you that this year RoboForex (CY) Ltd will act as a participant of the event, and as the Gold sponsor as well. Dates January 26th – 28th 2016 Location Convention & Exhibition Centre (Hong Kong) Our stand number 37 The Company’s successful operation on the Asian market has helped us to earn confidence of a vast number of traders over the last years.

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Gold struggling for direction, flat-lined around $1172

December 2, 2016 saxo bank news 0

Gold was seen struggling for a direction and remained confined within a narrow trading range, with mild positive bias.  Currently hovering around $1173 region, all set to post fourth consecutive week of declines, the precious metal seesawed between tepid gains and minor losses on the back of mixed US monthly jobs report .

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US stocks cautious after jobs report and ahead of Italian referendum

December 2, 2016 saxo bank news 0

On the last trading day of the week, major US equity indices opened flat, with both the S&P 500 and Nasdaq Composite index on track for weekly declines.  During opening hour of trading, the Dow Jones Industrial Average was down nearly 30-point to 19,160, while the broader S&P 500 index was absolutely flat near yesterday’s closing level around 2,192. Meanwhile, tech-heavy Nasdaq Composite outperformed the broader indices and gained over 15-point to 5,267.

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USD/RUB accelerates the downside below-64.00, session lows

December 2, 2016 saxo bank news 0

The Russian currency is now intensifying its upside momentum vs. the buck, sending USD/RUB to the area of daily lows in sub-64.00 levels. USD/RUB weaker on US data, oil The bearish fashion around the greenback continues to weigh on the pair today, which is so far printing its third consecutive session with losses and deflating from weekly tops in the mid-65.00s.

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CAC 40 Holds Range to Close Out Week

December 2, 2016 dailyfx news 0

Talking Points: The CAC 40 has gapped lower on the open, to trade near the bottom of an ongoing consolidation range. This decline in the CAC 40 has occurred as a general decline in European equities markets is occurring this morning. Top losers for the Index includes BNP Paribas (-2.67%) and AXA (-2.43%)

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Preview for November US NFPs and Outlook for US Dollar, FOMC

December 2, 2016 dailyfx news 0

Talking Points: – December US NFPs look to come in around +180K; breakeven pace of jobs growth is around +100-120K, so even a middling, ‘Goldilocks’ would be good enough to drive down the unemployment rate. – Fed funds futures continue to price 100% chance of Fed hike in December; only a severe miss will weigh on hike oddS – asymmetrical risk. – Join the DailyFX Live Trading Room today at 13:15 GMT for live coverage of NFPs with Currency Analyst David Song

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The DAX Cracks, Targeting Post-Brexit Trend-line

December 2, 2016 dailyfx news 0

What’s inside: The DAX continues series of lower higher and lower lows Trading beneath lower parallel of channel Looking for the post-Brexit trend-line as a target To receive Paul’s analysis directly via email, please sign up here. On Wednesday, we looked at the DAX up close and made note of the lower highs, lower lows developing on the 60-minute time-frame. The market failed to push above resistance surrounding 10700 that day, then slipped back lower making good on continuing the series of lower highs and lower lows

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EUR/USD NFP Friday Technical Preview

December 1, 2016 dailyfx news 0

Talking Points: After declining as much as much as 114 pips in yesterday’s trading, the EUR/USD is still consolidating ahead of tomorrow’s NFP (Non-Farm Payroll) employment data release. Tomorrow news is expected in at a reported 180k, however any deviation from this value may increase market volatility and cause the EUR/SUD to break from its daily range. Technically, the range is defined by the previous swing high put in place on November 28 th at a price of 1.0685

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USD Weakness Persist Ahead of NFP Even as ISM Hits 2016 High

December 1, 2016 dailyfx news 0

Talking Points: – ISM Manufacturing rose to match the 2016 high of 53.2 – Economic data has continued to be strong overall – USD slowed its trek higher on the data, following huge gains over the past few weeks. The ISM Manufacturing survey for November came in at 53.2 vs expectations of 52.5 and a previous reading of 51.9.

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Fed’s Mester: Raising interest rates would be a "prudent step"

November 30, 2016 saxo bank news 0

Fed Cleveland’s President Loretta Mester was on the wires, via Reuters, noting that raising interest rates would be a prudent step Key headlines (via Reuters): Prospects are likely higher for changes in fiscal, immigration, infrastructure and trade policies Says ‘very uncertain’ how those changes will affect inflation, employment; ‘devil will be in the details’ Postponing hikes for too long would raise risks of recession and financial instability; fed not yet behind curve

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Fed’s Powell: Rise in inflation compensation is a good thing

November 30, 2016 saxo bank news 0

Fed’s Governor Jerome Powell crossed the wires last minutes, via Reuters, stating that an increase in inflation compensation is a “good thing”. Key headlines (via Reuters): Should a patient to see how fiscal policy unfolds Focus on time and rate change may add to confusion Communication should emphasize uncertainty of forecast Dot plot changes over time reveal views on policy path Dot plot isn’t useful predictor of near-term rate moves

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Canada: Q3 GDP growth may not be sustainable – Wells Fargo

November 30, 2016 saxo bank news 0

The Canadian economy expanded at a 3.5% rate during the third quarter. According to analysts from Wells Fargo, the fastest quarterly growth in Canada in two years may not be sustainable. They see downward pressure on the Canadian dollar (against the USD) amid monetary policy divergence between the Bank of Canada (BoC) and the Federal Reserve

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India’s Rupee Faces Further Weakness As Demonetisation Trumps GDP

November 30, 2016 dailyfx news 0

Talking Points • Indian third-quarter GDP print misses estimates but still grows 7.3% year-over-year • Rupee under pressure from government’s ‘Demonetisation’ move and Trump win • Reserve Bank of India under pressure to announce a further 0.25% rate cut next week See the DailyFX Analysts’ 4Q forecasts for Crude Oil , the Dollar, Euro , Pound , Equities and Gold in the DailyFX Trading Guides page.

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Continued Brazil GDP Slump Threatens further Rate Cuts, Real Slide

November 30, 2016 dailyfx news 0

Talking Points: • Brazil’s GDP shrank 0.8% in the third quarter, matching forecasts • The country’s prolonged recession – now 8 quarters long – could become the worst in its history • The central bank is widely expected to cut interest rates a further 25 basis points this week Brazil’s economy shrank 0.8% in the third quarter, statistics agency IBGE reported on Wednesday. Growth was down a seasonally adjusted 2.9% compared to the third quarter of 2015.