Technical Analysis.

[Bassim]

Hence, the NFP report released this Friday is less likely to change the Fed�s mindset at next week�s policy meeting. However, what could be worthy of attention are the wage growth numbers which policymakers are closely watching to appraise inflationary pressures and thus whether they are on the right path with interest rate increases.

[Rizwan Sadiq]

Hmaen technical analysis k lia sab se behtar method price action ko follow karna chahea.me isi par hi work karta hun or aap yaqeen karen me bohut hi relax ho k is se earning kar rha hun.

[shujat Hussain]

MANILA, Philippines — The country’s foreign exchange holdings continued to dwindle, hitting the lowest level in two years last month and falling below the full-year target of $80.5 billion, the Bangko Sentral ng Pilipinas (BSP) reported yesterday.

BSP officer-in-charge Chuchi Fonacier said the country’s gross international reserves (GIR) reached $80.31 billion last month, down from the revised $80.42 billion in October.
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This was the lowest level for the country’s forex buffer since hitting $80.17 billion in November 2014.

“This was lower due mainly to outflows arising from payments made by the national government for its maturing foreign exchange obligations as well as revaluation adjustments on the gold holdings of the BSP resulting from the decrease in the price of gold in the international market,” Fonacier said.

She added the national government’s net foreign currency deposits, as well as earnings from the BSP’s investments abroad cushioned the decline in the GIR level last month.

[shujat Hussain]

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[shujat Hussain]

On Wednesday, the ADP Research Institute released private-sector nonfarm payrolls. These are considered by some as a preview of the more comprehensive government nonfarm payrolls which are due on Friday at 1330GMT. The ADP report showed that the private sector added 190,000 positions in the economy in November – slightly above expectations – compared to an eight-month high of 235,000 seen in the previous month. Nonfarm jobs created published by the Labour Department are also projected to narrow in November, falling from a 16-month high of 261,000 to 200,000. Besides that, average hourly earnings released with the jobs numbers are forecast to grow by 0.3% m/m in the given period after remaining stable in the preceding month, while the unemployment rate will likely stand pat at a 17-year low of 4.1%.

[shujat Hussain]

In the forex markets, the dollar turned neutral versus the yen after it found support at the 111 key-level. If average hourly earnings surprise to the upside on Friday, immediate resistance could be met at the 113 key-level, which is also the 23.6% Fibonacci of the upleg from 107.31 to 114.72. Any violation of this point would turn the bias from neutral to bullish, opening the scope for a re-test at the 9-month high of 114.72. Alternatively, disappointing wage growth numbers could push prices down to 111.88 (38.2% Fibonacci), with stronger bearish movement shifting focus to the 111 key-level (50% Fibonacci).

[Bassim]

Hence, the NFP report released this Friday is less likely to change the Fed’s mindset at next week’s policy meeting. However, what could be worthy of attention are the wage growth numbers which policymakers are closely watching to appraise inflationary pressures and thus whether they are on the right path with interest rate increases.

--- Update ---

Hence, the NFP report released this Friday is less likely to change the Fed�s mindset at next week�s policy meeting. However, what could be worthy of attention are the wage growth numbers which policymakers are closely watching to appraise inflationary pressures and thus whether they are on the right path with interest rate increases.

--- Update ---

Hence, the NFP report released this Friday is less likely to change the Fed�s mindset at next week�s policy meeting. However, what could be worthy of attention are the wage growth numbers which policymakers are closely watching to appraise inflationary pressures and thus whether they are on the right path with interest rate increases.

--- Update ---

Hence, the NFP report released this Friday is less likely to change the Fed�s mindset at next week�s policy meeting. However, what could be worthy of attention are the wage growth numbers which policymakers are closely watching to appraise inflationary pressures and thus whether they are on the right path with interest rate increases.

[Bassim]

Markets are widely expecting the Fed to finish the year with a third-rate hike in December as the US economy grows above expectations and the unemployment rate is currently at the lowest tracked since 2000.

[Bassim]

"The corporate tax reform has the potential to have a
significantly positive effect on the greenback, but due to other
parts of the reform - those that are aimed at preventing tax
base erosion," wrote Commerzbank currency strategists in a note
to clients.
The move higher in dollar/yen came, meanwhile, amid a surge
in Tokyo shares, which had slumped the previous day on Middle
East concerns.

[Bassim]

"Passage of U.S. tax reform is the main upside risk to
economic growth, with far-reaching effects," wrote BofA Merrill
Lynch analysts in a 2018 outlook.
But although most investors see the tax reform as a
pro-growth policy that should support the dollar, not all
analysts agree it would be straightforwardly dollar-positive.

--- Update ---

"Passage of U.S. tax reform is the main upside risk to
economic growth, with far-reaching effects," wrote BofA Merrill
Lynch analysts in a 2018 outlook.
But although most investors see the tax reform as a
pro-growth policy that should support the dollar, not all
analysts agree it would be straightforwardly dollar-positive.