Daily Market Analysis

Forex Market Review (European Session) – Dollar remains under pressure; euro and gold extend gains

Posted on August 29, 2017 at 2:30 pm GMT

The US dollar remained under pressure in European trading today, extending its Asian session losses, while the euro and gold added to their earlier gains. The risk aversion brought on from North Korea’s latest missile tests, which violated Japanese airspace, showed little sign of dissipating, with major European indices falling deep into the red. Dollar weakness lifted other majors however, with sterling, and the Canadian, Australian and New Zealand dollars all rising on the back of the greenback’s slide. The [..]

Forex Market Review (Asian Session) – Dollar under pressure after North Korean missile test; euro breaks 1.20

Posted on August 29, 2017 at 7:45 am GMT

The dollar and risk assets were retreating during Tuesday’s Asian session after a new ballistic missile test by North Korea. The novel feature of the latest missile test by North Korea compared to previous tests was that it flew over the Northern Japanese island of Hokkaido before landing in the Pacific Ocean, which seems to be a first. This caused grave concern in Japan. Despite the fact that Japan was the country that the missile had overflown, the yen gained [..]

Forex Market Review (European Session) – Majors move sideways ahead of busy weekly calendar; oil down as Texas energy refineries shut down

Posted on August 28, 2017 at 3:29 pm GMT

With today’s economic calendar lacking important data, major currencies were trading sideways during European trading hours, while market watchers were weighing the damage from the life-threatening tropical storm Harvey which forced the closure of the Texas oil industry on Monday. However, in the coming days, forex markets will be on the receiving end of important data releases from major economies. The dollar struggled to recover from the 2-½-year lows it recorded against its rivals during early Asian session after the Fed Chief [..]

Forex Market Review (Asian Session) – Euro holds above 2½-year high; oil prices mixed in wake of Hurricane Harvey

Posted on August 28, 2017 at 7:22 am GMT

As Asian trading was about to end for the day, the euro managed to hold above the two and a-half-year high, despite being under pressure in early trades. Euro/dollar was last trading at 1.1926, after reaching 1.1940 on Friday, levels last recorded in January 2015. Oil prices surged in early trading but gave up on some of the gains as the Asian session was coming to a close. The euro came under some pressure during the Asian session, but managed to [..]

Forex Market Review (European Session) – Yellen induces dollar’s tumble, traders await Draghi for further moves

Posted on August 25, 2017 at 2:45 pm GMT

The dollar tumbled against all majors following the speech of Federal Reserve Chair Yellen at the Jackson Hole symposium. The US currency managed to trade higher against the yen for most of the European session and got a small lift after the release of US durable goods data, but that was short-lived. The dollar index fell 0.43% to last trade at 92.89. The US dollar traded around the value of 109.57 yen for most of the day leading up to [..]

Forex Market Review (Asian Session) – Dollar gains ahead of Jackson Hole; oil up on Texas output disruption

Posted on August 25, 2017 at 7:36 am GMT

The dollar gained against the yen and the euro ahead of the central bankers’ symposium in Jackson Hole. The dollar index was up 0.11% and was trading at 93.37 as Asian traders were heading home for the week. Oil prices also rose on the possible disruption in the Gulf of Mexico, in Texas. The release of the encouraging Japanese CPI data did little to lift the yen against the dollar as the pair traded on the back of strong dollar [..]

Forex Market Review (European Session) – Dollar firmer as risk appetite improves ahead of Jackson Hole; pound perks up on euro weakness

Posted on August 24, 2017 at 3:19 pm GMT

Risk appetite improved notably on Thursday as investors shrugged off the threat of a government shutdown in the United States to focus on the three-day Jackson Hole gathering of central bankers in Wyoming, which starts today. The US dollar extended its Asian session gains to climb towards 109.50 yen, but the euro floundered ahead of an extended speech by ECB head Mario Draghi tomorrow in Jackson Hole. GDP data dominated the early European session as growth figures were released in [..]

Forex Market Review (Asian Session) – Dollar caps losses, gains against majors; kiwi tumbles to more than 2-month lows

Posted on August 24, 2017 at 7:47 am GMT

The dollar managed to recoup some of yesterday’s losses against the yen, when the US currency tumbled on the President’s remarks about a government shutdown. Other majors also weakened with the kiwi underperforming as it tumbled to more than a two-month lows against the greenback. Oil prices slipped after yesterday’s surge. During another relatively quiet trading day in Asia, the dollar managed to reverse its losses and post a moderate gain against the yen. Dollar/yen was last trading at 109.27, [..]

Forex Market Review (European Session) – Euro gains on PMI, hits fresh 10½-month high Vs sterling; dollar hurt by Trump, data misses

Posted on August 23, 2017 at 3:11 pm GMT

During today’s European session, forex market participants pushed the euro higher on the overall positive picture given by the PMI figures released earlier in the day. In the meantime, the dollar index was down with the US currency being on a negative footing in today’s trading after some comments made by the US President yesterday in Phoenix. Data releases falling short of forecasts also weighed on the US currency. Eurozone flash PMI figures for the month of August were released [..]

Forex Market Review (Asian Session) – Trump yet again induces dollar weakness against yen; other majors edge down

Posted on August 23, 2017 at 7:23 am GMT

President Trump has yet again induced weakness in the US currency with his remarks about a possible government shutdown to fulfill his campaign promises. The greenback weakened against the yen, but gained against other majors making the dollar index flat on the day. The release of flash PMI data out of the eurozone will attract some traction during early hours of European trading. Speaking at a rally in Phoenix, President Trump said “If we have to close down the government, we [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms