Daily Market Analysis

Forex Market Review (Asian Session) – US dollar awaits barrage of key risk events; kiwi soars on strong employment numbers

Posted on November 1, 2017 at 8:17 am GMT

The dollar was little changed ahead of a very heavy calendar the next three days, while the kiwi staged an impressive rebound following the release of strong employment numbers out of New Zealand overnight. The US dollar was definitely going to be in focus for the rest of the week due to the Fed meeting that ends later today, the announcement of the Fed Chair nominee by President Trump tomorrow and the October employment report to be released on Friday. [..]

Forex Market Review (European Session) – Loonie falls sharply on GDP miss; pound boosted on Barnier; Eurozone readings mixed

Posted on October 31, 2017 at 3:26 pm GMT

The Canadian dollar lost ground versus its US counterpart as GDP figures unexpectedly reflected a contraction in the Canadian economy. Eurozone data on inflation, economic growth and unemployment out during today’s session gave a mixed picture. The pound moved higher after some comments by Michel Barnier, the EU’s chief Brexit negotiator, which suggested that Brexit talks are getting on the right path, while the dollar advanced following upbeat figures on consumer confidence. The dollar’s index against a basket of currencies [..]

Forex Market Review (Asian Session) – US dollar cautious ahead of Fed, FBI probe into Russian links weighs; BoJ stands pat

Posted on October 31, 2017 at 8:30 am GMT

Foreign exchange markets and specifically the US dollar were cautious to break fresh ground during Tuesday’s Asian trading as a combination of bearish and bullish factors left traders waiting for more clues. The probe of links between the Trump campaign and Russia led to house arrests and criminal indictments the previous day, such as that of Trump’s former campaign manager Paul Manafort. So far the market hasn’t really paid much attention to the news as accusations against Trump’s campaign officials [..]

Forex Market Review (European Session) – Strong US data fails to halt dollar pullback; pound perks up but euro still struggling

Posted on October 30, 2017 at 3:41 pm GMT

The US dollar continued to consolidate in European trading on Monday after recording fresh three-month highs on Friday. Speculation that President Trump is likely to opt for a dovish candidate to head the Fed triggered the greenback’s sell-off on Friday, while new political headaches for the White House further weighed on the US currency today. In European currencies, the euro attempted to move away from last week’s three-month lows but struggled to regain momentum. The pound was stronger however, as [..]

Forex Market Review (Asian Session) – US dollar off Friday’s best levels as market awaits key data and events week

Posted on October 30, 2017 at 8:22 am GMT

The US dollar faced some profit-taking against other majors, after receiving a boost the previous week on tax reform hopes in the US and strong third quarter growth while the euro was hit by the political uncertainty in Spain. Euro/dollar climbed above the 1.16 level to trade around 1.1615, as markets will be focusing on Catalonia and how the region is going to function during the week after the central government in Madrid has taken over control of the region [..]

Forex Market Review (European Session) – Dollar flexes its muscles on GDP beat; euro headwinds on Catalan independence

Posted on October 27, 2017 at 3:00 pm GMT

The dollar was standing broadly higher relative to most other major currencies as US quarterly GDP estimates beat expectations. However, the US currency gave up part of its gains later in the session as, according to a report by Bloomberg, US President Donald Trump is leaning towards Federal Reserve Governor Jerome Powell – a perceived dove – to lead the Federal Reserve after current Fed Chair Janet Yellen’s term expires next year. News of Catalonia declaring independence from Spain during [..]

Forex Market Review (Asian Session) – Dollar stands tall ahead of GDP; euro records 3-month low on “dovish tapering”

Posted on October 27, 2017 at 7:51 am GMT

The US currency stood higher on the day as the Asian session was nearing completion, though barring a development that makes US tax reform more likely, that was mostly due to other majors’ weakness rather than any dollar specific factors. Market participants are awaiting the advance estimate of US third quarter GDP growth which is due at 1230 GMT. The dollar’s index against a basket of currencies was trading 0.3% up on the day, near the day’s high and not [..]

Forex Market Review (European Session) – Euro slips as ECB halves QE but keeps it open ended; dollar firms on reports Yellen is out of Fed race

Posted on October 26, 2017 at 2:54 pm GMT

The euro reversed lower from a near one-week high after the ECB pledged to maintain easy monetary policy even as it announced a reduction in its monthly asset purchases. The single currency slipped back below $1.18, while the US dollar was once again eyeing the 114 yen level amid reports that incumbent Fed chief Janet Yellen was out of the race to lead the central bank. The European Central Bank announced it is extending its asset purchase program (APP) for [..]

Forex Market Review (Asian Session) – ECB in focus; dollar eases in need of fresh catalysts

Posted on October 26, 2017 at 7:49 am GMT

As the Asian session was about to complete, the euro was standing stronger ahead of the European Central Bank’s policy meeting, while the dollar was distancing itself on the downside from the highs it reached earlier in the week. The dollar index, which measures the strength of the US currency versus the currencies of six major US trading partners, was 0.1% lower at 0737 GMT, falling for a third straight day and moving further below Monday’s three-week high of 94.02. [..]

Forex Market Review (European Session) – Pound rises on GDP, hike speculation; loonie declines on BoC inflation expectations

Posted on October 25, 2017 at 3:07 pm GMT

The British pound was a notable gainer during today’s trading as forex market participants revised upwards their expectations for a quarter percentage point interest rate rise to be delivered by the Bank of England after UK third quarter growth beat expectations. The dollar was gaining ground relative to the loonie, aussie and the kiwi and retreating versus the euro, yen and of course sterling. At 1542 GMT, the dollar index, which gauges the greenback against the currencies of six major [..]

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