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[QUOTE="limyeeshin, post: 114132, member: 35099"] [B][U][CENTER][SIZE="5"][COLOR="Blue"]Thursday 10 November 2016[/COLOR][/SIZE][/CENTER][/U][/B] [B][U][COLOR="Red"]Dollar strengthens back after sharp drop post-election[/COLOR][/U][/B] The U.S. dollar rebounded against other major currencies as it continued to recover from sharp losses posted following news that Republican Donald Trump had been elected for the President for the United States. The greenback initially plunged after Trump was declared as 45th U.S. President, baffling broad expectations for a Democratic victory. A Trump victory is seen as negative for financial markets perspective as his policies leads to uncertainty for the U.S. economy. The dollar recovered 0.55% at 98.41 after a sharp drop to 95.91 overnight. Nearby Mexican peso pared its earlier steep loss but sill on its downside with MXN/USD falling to 8.24% at 0.0050. [B][U][COLOR="Red"]Yen holds weaker in Asia after mixed data[/COLOR][/U][/B] Japanese yen held weaker in Asia on Thursday after the release of machinery orders showing up and downs. In Japan, core machinery orders for September declined 3.3% monthly basis compared to 0.8% drop expected. The monthly drop followed by a decline in the previous month, giving second straight monthly decline. But it gained 4.3% year-on-year basis, above 3.5% rise seen. Earlier in japan, The Finance Minister Taro Aso had said that Tokyo will need to respond to moves in the currency markets if the U.S. election results cause a sudden spike in the yen, reiterating its readiness to intervene in the currency markets. USD/JPY changed hands at 105.75, up 0.08%. [B][U][COLOR="Red"]Euro retreats after post U.S. presidential election[/COLOR][/U][/B] The euro retreated against the U.S. counterpart after the news Donald Trump had been elected for the President of the United States. Earlier, the European Central Bank Governing Council member Ewald Nowotny said the ECB is ready to intervene in markets in an emergency. EUR/USD slid 0.83% to 1.9035, off from its two-month peak of 1.1300 overnight. GBP/USD gained 0.32% to 1.2424, off from its one-month peak of 101.19. [B][U][COLOR="Red"]Commodity currencies recovers from sharp losses[/COLOR][/U][/B] The New Zealand dollar posted gains despite a rate cut in the benchmark interest rate by the Reserve Bank of New Zealand. The RBNZ cut the official cash rate by 25b.p to 1.75% on Thursday as broadly expected and also signaled a very mild easing bias while acknowledging numerous uncertainties may require action. NZD/USD traded at 0.7299, up 0.29%. In Australia, housing data for home loans came in at an increase of 1.6% for September, compared to 2.0% drop seen. Also investor housing finance gained 4.6%. AUD/USD rose by 0.34% at 0.7662. Both currencies tumbled sharply after the victory of Trump for the U.S. presidential election and recovered overnight. Canadian dollar also slightly recovered from its steep loss to 1.3452. [B][U][COLOR="Red"]Major pairs (Thursday update)[/COLOR][/U][/B] [HTML]USD/JPY ↓0.28% 105.37 EUR/USD ↑0.16% 1.0928 EUR/JPY ↓0.10% 115.16 USD/CAD ↓0.01% 1.3422 GBP/USD ↑0.02% 1.2409 USD/CHF ↓0.12% 0.9834 AUD/USD ↑0.42% 0.7668 NZD/USD ↓0.33% 0.7253[/HTML] (Mia Chung) [B][COLOR="Blue"]We offered White Label service. Kindly contact us at [email]yeeshin@solforex.com[/email] or [email]support@solforex.com[/email][/COLOR][/B] [/QUOTE]
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