AUDJPY – Aussie Dollar Testing Resistance Zones Vs Japanese Yen

The Aussie Dollar after finding support near 85.00 against the Japanese yen traded higher. The AUDJPY pair is currently facing resistance near a couple of trend lines at 85.50 and 85.60 on the hourly chart.Today in Australia, the Westpac Consumer Confidence was released by the Faculty of Economics and Commerce Melbourne Institute. The result was better, as there was an increase from the last reading of 97.3 to 97.4 in Jan 2016.
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Forex – Dollar rebounds in Asia after Trump remarks, pound down

The dollar recovered in Asia on Wednesday following overnight volatility spurred by comment from president-elect Donald Trump, while the pound also retreated from overnight gains. GBP/USD dipped 0.47% in Asia to 1.2352, while USD/JPY changed hands at 113.08, up 0.42% and AUD/USD traded at 0.7543, down 0.30%. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose 0.24% to 100.50, after plunging more than 1% overnight.
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Forex – Pound rebounds in Asia as May speech to set tone

The pound rebounded in Asia on Tuesday ahead of a highly-awaited speech by British PM Theresa May with the Telegraph newspaper reporting her 12 priorities for Brexit will include leaving the European Union's single market and customs union. GBP/USD traded at 1.2080, uop 0.26%, while USD/JPY changed hands at 113.80, down 0.35% on continued safe haven demand for yen. AUD/USD traded at 0.7501, up 0.31%. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, fell 0.26%t traded up 0.31% to 101.22.
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Sterling at three-month low, braces for May’s Brexit speech

The British pound flirted with a three-month low on Tuesday, hit by fears that Prime Minister Theresa May's speech later in the day is likely to set Britain on a course that would end its access to the lucrative European Union single market. Concerns over U.S. President-elect Donald Trump's protectionist policies are also undermining risk sentiment, helping to push up the yen back to its highest levels in more than five weeks. The pound was on the defensive at $1.2045, having slumped to a three-month low of $1.1983 on Monday, which was its weakest point in more than three decades barring the several minutes in early Asian trade on Oct 7 when it tanked to as low as $1.1491.
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AUDNZD – Can Aussie Dollar Move Higher Vs Kiwi Dollar?

The Aussie Dollar remained elevated against the Kiwi Dollar, but struggling to clear the 1.0550-1.0570 resistance. There is a descending channel formed on the hourly chart of AUDNZD, which is taking the pair slowly down towards 1.0520. Today in Australia, the TD Securities Inflation was released by The University of Melbourne – Faculty of Economics and Commerce. The result was better, as there was an increase of 0.5% in Dec 2016, compared with Nov 2016.
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GBPUSD – British Pound Opens Lower Amid Fears of Hard Brexit

Key Points

The British Pound tumbled recently against the US Dollar, and opened the week below 1.2080. There is a bearish trend line formed on the hourly chart of GBPUSD, which may act as a resistance on the upside near 1.2120-1.2140. Today, the UK Rightmove House Price Index was released during the Asian session. The result was above the forecast, as there was a rise of 3.2% in Dec 2016, compared with the same month a year ago.

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EURJPY – Euro Looks To Gain Pace Above 122.15 Vs Yen

The Euro after a downside move towards 121.19 against the Japanese yen started recovering. There are two bearish trend lines on the hourly chart of EURJPY, out of which one is cleared and the pair is attempting to clear another at 122.15. Today, the Japanese Money Supply M2+CD was released by the Bank of Japan. The result was around the expectation, as there was a rise of 4% in Dec 2016, compared with the same month a year ago.
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