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Wall Street slips on weak GDP, ends April with gains Eren Sengezer

Weighed by the dismal GDP growth rate in the United States, the major stock indexes of Wall Street closed the day on a negative note on Friday but recorded substantial weekly gains as the big corporations reported strong earnings throughout the week.The U.S. economy recorded an annual 0.7% growth in the first quarter of 2017 on weak consumer spending, business investing and higher imports. This nu...

00:00 29 April /2017 Forex

EUR/USD treads water around 1.09, headed for weekly gains Eren Sengezer

The EUR/USD pair's attempt to renew its five-month high during the European session fell a few pips short, and the pair started to trim its gains in the first half of the NA session after some positive macroeconomic data from the United States. Despite its pullback, EUR/USD is headed for weekly gains and is now trading at ...

23:23 28 April /2017 Forex

GBP/USD posts fresh 7-month highs above 1.29 Eren Sengezer

The GBP/USD pair caught some fresh bids in the US afternoon and leaped to a new 7-month high at 1.2965. Earlier in the session, the pair retraced back towards 1.29 and found support around that level. As of writing, the pair was trading at 1.2955, up 0.4% on the day.A broad-based cable strength coupled with a stationary

22:23 28 April /2017 Forex

CME Group FedWatch: Market expectations for a June rate hike at 63.1%

CME Group FedWatch tool, which calculates unconditional probabilities of Federal Open Market Committee (FOMC) meeting outcomes to generate a binary probability tree, shows the probability of a rate hike in June fell to 63.1% from 67.6% (yesterday) on the last trading day of April amid dismal macroeconomic data from the US. Today's data showed that the U.S. economy grew at its weakest pace since 20...

21:46 28 April /2017 Forex

US Dollar Index posts lowest monthly close since October Matías Salord

The US dollar index is about to post the third weekly decline in a row and the lowest monthly close since October. The greenback opened the week sharply lower after the French election results and was unable to recover. On Friday, the DXY remained inside the range of the previous days, moving between 99.20 and 98.50; consolidating the decline of the week...

21:23 28 April /2017 Forex

USD/JPY clings to daily gains above 111 Eren Sengezer

The USD/JPY pair rose to a daily high at 111.70 following today's macro data from the United States but lost momentum there as the market's focused shifted to the UN Security Council meeting on the situation in North Korea. After a mild pullback, the pair is now trading at 111.45, up 0.15% on the day.Following his meeting ...

20:23 28 April /2017 Forex

AUD heading lower, RBA on hold for now - Wells Fargo Matías Salord

According to analysts from Wells Fargo, the Australian dollar is likely to decline against the US dollar taking into account recent dynamics and the divergence of monetary policy between the Reserve Bank of Australia (RBA) and the Federal Reserve. Key Quotes: “The RBA is facing somewhat conflicting concerns at present, with a soft domestic economy supporting the case for a mainten...

20:23 28 April /2017 Forex

USD/CAD hits fresh 14-month highs, slightly below 1.3700 Matías Salord

USD/CAD continued to move to the upside and for the second day in a row reached multi-month highs. During the American session, the pair climbed to 1.3696, the highest level since February 2016. From the highs, it pulled back and it is trading at 1.3665, rising for the sixth day in a row. The Loonie remained unaffected by US and Canadian economic data. Yesterday...

20:00 28 April /2017 Forex

S&P: Germany 'AAA/A-1+' ratings affirmed; outlook stable - Reuters

Reuters just released key highlights from the latest S&P report on Germany:

19:23 28 April /2017 Forex

IFOP poll: Macron seen beating Le Pen in 2nd round 60% vs. 40%

According to the latest IFOP poll, Macron is seen beating Le Pen in the second round 60% to 40% (prev. 60.5% vs. 39.5%).

19:23 28 April /2017 Forex

US Q1 GDP: Sluggish start of the year, rebound expected - Wells Fargo

Analysts from Wells Fargo, explained that today’s Q1 GDP report showed lower than expected numbers reflecting, in part, significantly slower consumer spending growth and a sizeable inventory drag. They still expect a strong rebound in Q2. Key Quotes: “Hampered by perennial residential seasonality issues and one-off items, which have materially factored into the calculation,

19:00 28 April /2017 Forex

Gold inches closer to $1270 on North Korea headlines Eren Sengezer

The XAU/USD pair dropped to a session low at $1263.70 following the Consumer Sentiment data from the United States but quickly recovered as the latest headlines suggested that the geopolitical tension continued to rise with North Korea. As of writing, the XAU/USD was trading at $1267.75, 0.26% up on the day.On Friday, U.S....

19:00 28 April /2017 Forex

EUR/GBP erases gains, drops back toward daily lows Matías Salord

EUR/GBP pulled back during the American session and erased all gains. The pair is trading at 0.8415/20, slightly above Asian session lows. EUR unable to hold The euro jumped earlier today after the release of Eurozone inflation data, that showed higher-than-expected numbers. EUR/GBP peaked at 0.8461. Then it consolidated between 0.8435 and 0.845...

18:46 28 April /2017 Forex

EUR/USD retreats further below 1.0900

EUR/USD retreated further after the release of US consumer sentiment data and fell to 1.0895. Currently is back above 1.0900, still hovering above the 20-hour moving average. The pair peaked at 1.0946 before the release of US Q1 GDP data. Then it turned to the downside and slide further after the US consumer sentiment report showed a rise from 96.9 to 97, below ...

18:00 28 April /2017 Forex

U.S. House begins vote to avert government shutdown - Reuters

U.S. House begins to vote to extend the deadline until May 5 for passing a spending bill to avert a government shutdown, reports Reuters.

18:00 28 April /2017 Forex

U.S. Secretary of State Tillerson: Threats of nuclear attack on Japan and South Korea 'are real' Eren Sengezer

U.S. Secretary of State Rex Tillerson crossed the wires, via Reuters, suggesting that failing to act now on the most pressing security issue in the world may bring catastrophic consequences.Key quotes (via Reuters):

18:00 28 April /2017 Forex

British PM May: North Korean missile tests represent threat to global peace and stability Eren Sengezer

UK Prime Minister Theresa May is crossing the wires, via Reuters, saying that they will work with international partners to maintain pressure on North Korea.Key quotes (via Reuters):

17:46 28 April /2017 Forex

US Dollar trims losses, gearing up for 99.00 Pablo Piovano

After bottoming out in the 99.60 region, the US Dollar Index (DXY) has regained some buying interest and it is now flirting with the 99.00 handle.US Dollar up despite dataThe index has almost recovered the ground lost earlier in the session in spite of mixed results from the US docket today.Advanced US GDP figures showed the economy is expected to expand at an ann...

17:46 28 April /2017 Forex

USD/CHF pares daily losses as USD strengthens on data Eren Sengezer

The USD/CHF pair started a recovery move during the first trading hours of the American session as the PCE data came in above expectations and gained further momentum following the consumer confidence figures. Driven by the USD strength, the pair took back its daily losses and is now trading flat at 0.9940.Investors largel...

17:46 28 April /2017 Forex

US stocks mixed during opening trade, Nasdaq hits fresh record highs Haresh Menghani

Major US equity indices witnessed a mixed opening on the last trading day of the week as investors digested dismal US GDP print, showing the slowest pace of growth in 3 years.According to the advance GDP report, the US GDP increased at a meager 0.7% annual pace in the first three months of 2017. The growth was much lower than 2.1% recorded in the last quarter of 2016 and lower-than consensus estim...

17:23 28 April /2017 Forex