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[QUOTE="limyeeshin, post: 102484, member: 35099"] [B][U][CENTER][SIZE="5"][COLOR="Blue"]Thursday 19 May 2016[/COLOR][/SIZE][/CENTER][/U][/B] [B][U][COLOR="Red"]Dollar goes higher after the Fed minutes[/COLOR][/U][/B] The U.S. dollar rose to a three-week high against Japanese yen on Thursday after the minutes of FOMC meeting spurred the expectations for rate hike in June. The dollar hit highs of 110.27, almost 4.5% gain from 18-month low of 105.55 yen in early May. Overnight, the dollar slightly trimmed gains against other major currencies at 95.18, down 0.01%. Expectations for the next rate hike mounted as Tuesday’s U.S. consumer prices rose by 0.4%, at the fastest pace in three years. Another reports of housing starts and industrial production also increased strongly in April. Moreover, Atlanta and San Francisco state Fed Presidents both said that there could be two or three rate hikes this year, which increased investors’ expectations. [B][U][COLOR="Red"]Yen remains strong with upbeat machinery orders[/COLOR][/U][/B] Japanese yen held gains in early Asia on Thursday after surprise gain in core machinery orders. Japan core machinery orders sharply increased by 3.2%, much higher than 0.8% gain seen and at 5.5% pace month on month, beating 0.5% gain expected. The Cabinet Office projects core machinery orders will slip back 3.5% in April- June quarter in accordance to high 6.7% rise in the first quarter. Another report on Wednesday with GDP showed that the economy grew 1.7% in the first quarter, well above 0.2% rise expected. Japanese officials are likely to reaffirm that they will intervene in the market if USD/JPY become one sided volatile. EUR/JPY pair remained firm, traded at 123.66 on Thursday. [B][U][COLOR="Red"]Aussie falls with downbeat employment report[/COLOR][/U][/B] The Australian dollar fell after the release of jobs report on Thursday. The Australian April employment data showed a gain of 10,800 jobs, below 12,500 jobs gain expected. The unemployment rate came in at 5.7%, slightly below the 5.8% seen, with a participation rate of 64.8%. AUD/USD hit a low of 0.7199, its lowest since early March, and settled at 0.7200, down 0.4%. [B][U][COLOR="Red"]Kiwi drops with increased Fed rate hike expectations[/COLOR][/U][/B] The New Zealand dollars also declined against the U.S. counterpart after release of downbeat data opposed to upbeat U.S. report. In New Zealand, the producer prices fell by 1.0% in the first quarter, disappointing 0.3% rise seen. The PPI output also slipped 0.2%, below expected 0.4% gain. NZD/USD fell by 0.51%, traded at 0.6777. [B][U][COLOR="Red"]Major pairs (Thursday update)[/COLOR][/U][/B] USD/JPY ↑0.07% 110.28 EUR/USD ↑0.03% 1.1219 EUR/JPY ↑0.06% 123.69 USD/CAD ↑0.31% 1.3074 GBP/USD ↓0.14% 1.4579 USD/CHF ↓0.01% 0.9877 AUD/USD ↓0.36% 0.7203 NZD/USD ↓0.10% 0.6733 [/QUOTE]
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