January 2018

Daily analysis of USDX for February 01, 2018

USDX remains under pressure below the 200 SMA and it seems that a leg lower to test the 87.88 level is likely to happen. The moving average is guiding the path for the short-term and that's why we would like to see more losses ahead. However, if it man... [...]

Daily analysis of GBP/USD for February 01, 2018

The pair recovered from losses above the 200 SMA and it seems we could expect further gains toward the resistance zone of 1.4280. Such area could help to strengthen the bearish bias, as it can produce some pullbacks ahead of the 1.4393 level. To the do... [...]

Fed Expected to Leave Rates Unchanged in Last Yellen Meeting

The Federal Reserve may sound a bit more hawkish as Fed Chair Janet Yellen’s tenure comes to an end. Yellen was presiding over her final meeting, and the Fed’s post-meeting statement will be released at 2 p.m. Wednesday afternoon. “They’re not going to raise rates this time around. They do want to at least confirm… [...]

ADP Jobs Report Beats Expectations Sets Stage for NFP on Friday

The new year got off to a strong start for job creation, with businesses adding 234,000 in January, according to a report Wednesday from ADP and Moody’s Analytics. Economists surveyed by Reuters had been looking for private payrolls to grow by 185,000. Job creation was concentrated largely in service-related industries, which contributed 212,000 to the… [...]

US Commerce Secretary Says NAFTA Far from Being Completed

The efforts to renegotiate NAFTA are “far from being completed at this point,” Commerce Secretary Wilbur Ross said on CNBC Wednesday. Ross told “Squawk Box” without being specific that some progress has been made on easier provisions, but “very little has been done on the hard issues.” Without mentioning specific trade free arrangements such as… [...]

Canadian GDP Rose 0.4 in November

The Canadian economy accelerated in November by the most in six months, with activity broad-based across a number of sectors including manufacturing and keeping the Bank of Canada on track to raise interest rates again before long. Gross domestic product rose by 0.4 percent from October’s flat reading, Statistics Canada said on Wednesday, in line… [...]

Justin Trudeau Does Not Believe US will pull out of NAFTA

Canadian Prime Minister Justin Trudeau said in an interview he does not think U.S. President Donald Trump will pull out of NAFTA, despite differences over how to update the trade pact, the Canadian Broadcasting Corp said on Wednesday. Trudeau’s comments were among the most positive made by any Canadian official since talks started last year… [...]

US Treasury Secretary Urges Congress to Raise Debt Ceiling

Treasury Secretary Steven Mnuchin on Wednesday called on the Republican-controlled Congress to lift the U.S. debt limit “as soon as possible” so the government can pay federal employee benefits and other obligations. In a letter to congressional leaders and key committee chairmen, Mnuchin said the Treasury Department would continue to suspend payments into federal employee… [...]