• The Forex, Binary Options Forum - welcomes you to our Community!

    DigitalCashPalace Forum is dedicated to discussions about Forex, Binary Options, commodities, stocks related.

    Please take a look around, and feel free to .

Dollar holds firm after upbeat data, hovers near nine-month high vs yen

The dollar stood tall against its peers on Friday, hovering near a nine-month high versus the yen, after data reinforced upbeat views about the U.S. economy and backed the Federal Reserve's signal for a steady course of rate increases over the next year.

U.S. gross domestic product grew at a 4.2 percent clip in the second quarter, the fastest in nearly four years, according to government data on Thursday. Another report showed durable goods rose 4.5 percent in August, rebounding from a revised 1.2 percent drop the month before.

The dollar traded at 113.395 yen after gaining roughly 0.6 percent overnight to 113.47, its highest since December 2017.

The decline in U.S. Treasury yields slowed in the wake of the upbeat data, underpinning the dollar. Yields had declined sharply after the Federal Reserve tightened monetary policy on Wednesday and stuck to its intention of hiking interest rates at a steady pace.

U.S. President Donald Trump and Japanese Prime Minister Shinzo Abe agreed on Wednesday to start trade talks in an arrangement that, for now, protects Japanese automakers from further tariffs, seen as a major threat to the export-dependent economy.
 
The dollar stood tall against its peers on Friday, hovering near a nine-month high versus the yen, after data reinforced upbeat views about the U.S. economy and backed the Federal Reserve's signal for a steady course of rate increases over the next year.

U.S. gross domestic product grew at a 4.2 percent clip in the second quarter, the fastest in nearly four years, according to government data on Thursday. Another report showed durable goods rose 4.5 percent in August, rebounding from a revised 1.2 percent drop the month before.

The dollar traded at 113.395 yen after gaining roughly 0.6 percent overnight to 113.47, its highest since December 2017.

The decline in U.S. Treasury yields slowed in the wake of the upbeat data, underpinning the dollar. Yields had declined sharply after the Federal Reserve tightened monetary policy on Wednesday and stuck to its intention of hiking interest rates at a steady pace.

U.S. President Donald Trump and Japanese Prime Minister Shinzo Abe agreed on Wednesday to start trade talks in an arrangement that, for now, protects Japanese automakers from further tariffs, seen as a major threat to the export-dependent economy.

Thank you very much for your opinion! By the way, what’s your opinion on the EURUSD trading pair, right now?
 
Canadian Dollar on High mode of its 4 months as NAFTA Deal ahead

The dollar slipped against the Canadian dollar on Monday as the United States and Canada achieved a structure arrangement to refresh the North American Free Trade Agreement.

Sources with coordinate information of the discussions affirmed the two nations achieved an arrangement, which included offering more dairy access to U.S. agriculturists and also Canada consenting to a side-letter course of action successfully topping vehicle fares to the United States.

The Canadian dollar ascended around 0.7 percent, achieving a four-month high of C$1.2814 as the news about the structure assention broke, before surrendering a few additions. It last exchanged at C$1.2836.
 
Despite the fact that business sectors were at that point foreseeing an assention, one wellspring of stress will be cleared away if an arrangement is made.

The Canadian dollar is extremely solid today. Together with that, it's simple for monetary forms from asset needy and developing business sector nations to rise, putting offering weight on the dollar.

Mexico's peso cash reinforced to a seven-week high versus the dollar, at one point increasing around 0.85 percent to 18.54 for every dollar.
 
The GBP/USD is trading back into the 1.3000 major technical level as the US Dollar downshifts in early Wednesday action, fueled by risk-bullish headlines from the European continent.

Brexit headlines continue to dominate Sterling traders' headspace, and a steady stream of inconclusive talking heads brandishing their positions on Brexit has seen confidence in the UK continue to wane steadily as glimmers of hope for successful trade talks between the EU and the UK give way to bouts of hard selling as Britain seems no closer to a workable exit from the European Union than it did immediately following the Brexit referendum.
 
The Italian government announced they would be willing to reduce their federal deficit to back below 2% in 2021, and the broader Euro-area saw a brief bounce in market sentiment, taking both the EUR and the GBP briefly higher, and the Pound is now trading just shy of the 1.3000 handle.

The economic calendar is clear of any meaningful UK data for Wednesday, and traders will be keeping an eye out for continued headlines covering both Brexit and political tensions within the Eurozone, and early Wednesday's pop in the Sterling could find itself getting faded as the day unfolds.
 
The Pound could be primed for another leg down as technical indicators have reloaded their neutral stances, and as we noted: "technical indicators have corrected oversold readings before losing directional strength within negative readings, while the 20 SMA is currently crossing below the 200 EMA, reflecting the strength of sellers. Of course, the pair is little about technical readings and all about Brexit, with the pair's direction depending on which kind of Brexit the market believes it will take place."
Get Daily Forex Signals
Support levels: 1.2970 1.2940 1.2900

Resistance levels: 1.3010 1.3035 1.3065
 
The dollar stood tall against its peers on Friday, hovering near a nine-month high versus the yen, after data reinforced upbeat views about the U.S. economy and backed the Federal Reserve's signal for a steady course of rate increases over the next year.

U.S. gross domestic product grew at a 4.2 percent clip in the second quarter, the fastest in nearly four years, according to government data on Thursday. Another report showed durable goods rose 4.5 percent in August, rebounding from a revised 1.2 percent drop the month before.

The dollar traded at 113.395 yen after gaining roughly 0.6 percent overnight to 113.47, its highest since December 2017.

The decline in U.S. Treasury yields slowed in the wake of the upbeat data, underpinning the dollar. Yields had declined sharply after the Federal Reserve tightened monetary policy on Wednesday and stuck to its intention of hiking interest rates at a steady pace.

U.S. President Donald Trump and Japanese Prime Minister Shinzo Abe agreed on Wednesday to start trade talks in an arrangement that, for now, protects Japanese automakers from further tariffs, seen as a major threat to the export-dependent economy.
What’s your prediction on EURUSD right now? I think, till now it’s a bullish trend! Waiting for your update.
 
You can trust dollar all the time as it is the best currency as far as I think. Dollar holds it's strength in each and every situation as the economical structure of this currency is quite firm. You have to think hard before going against the dollar. Thanks
 
Top