Daily Market Analysis

Forex Market Review (Asian Session) – Dollar pressured against all majors; RBA minutes push aussie to 2-year high

Posted on July 18, 2017 at 7:37 am GMT

As the Asian trading session was about to close, the US dollar was trending downward against most currencies on overnight news that the repeal of Obamacare is getting another push-back. The aussie rose following the release of the Reserve Bank of Australia’s minutes and the kiwi had a short tumble on the disappointing inflation figures. The greenback tumbled against most currencies overnight on news that two more Republican Senators would oppose the healthcare reform bill unveiled by their party last [..]

Forex Market Review (European Session) – Loonie hits fresh 14-month high; dollar steady after Friday sell-off

Posted on July 17, 2017 at 2:52 pm GMT

There was limited price action today as investors remained sidelined ahead of three big events this week. Major currencies mostly traded in tight ranges during the European session, while in the absence of major economic releases, the market focus has been on the start of the second round of the Brexit negotiations, the European Central Bank and the Bank of Japan meetings on Thursday. The greenback managed to slightly recoup against most majors following the sell-off on Friday amid the disappointing [..]

Forex Market Review (Asian Session) – Dollar weakness eases; China releases upbeat economic data; commodities up

Posted on July 17, 2017 at 7:43 am GMT

As a result of a holiday in Japan the first trading session of the day was more quiet than usual. A set of economic data releases out of China dominated the news flow so far. Pressure on the dollar against major currencies stalled during the Asian session, following the greenback’s plunge on Friday amid disappointing inflation and retail sales data. China’s upbeat economic data releases took markets by surprise today. The second quarter GDP rose 6.9% year-on-year, faster than expected [..]

Forex Market Review (European Session) – Dollar tumbles on disappointing inflation; Kuwait’s OPEC governor boosts oil

Posted on July 14, 2017 at 2:51 pm GMT

The dollar tumbled against all majors after a set of disappointing US data releases. The dollar index fell to a fresh 10-month low of 95.25 immediately following the release. The weaker dollar boosted other majors as well as gold. Both US CPI and retail sales numbers for June came in short of expectations, pushing the dollar to 112.38 yen from 113.04. Headline CPI was weaker than estimated at 0.1% month-on-month in June, mirroring the prior increase of 0.1%. It was [..]

Forex Market Review (Asian Session) – Dollar steady ahead of key inflation release; euro, sterling gain

Posted on July 14, 2017 at 7:53 am GMT

The US dollar was steady against the yen during the Asian session, but weakened against most other majors. The key inflation data out of the US could potentially dictate today’s biggest forex market moves. The euro and the pound were both up, while oil came under some pressure ahead of the European open. The dollar steadied against the yen, helped by upbeat US economic data, after earlier weakness due to a dovish-perceived testimony by Federal Reserve Chair Janet Yellen to [..]

Forex Market Review (European Session) – Dollar firms up against yen; sterling gains; oil and gold up

Posted on July 13, 2017 at 3:02 pm GMT

The dollar gained against the yen ahead of the US session, supported by encouraging data releases, and continued strengthening as Federal Reserve Chair Janet Yellen started her second-day testimony to Congress. The dollar index, a broad measure of the greenback’s strength, was up 0.07% towards the end of the European session. The number of people seeking unemployment benefits fell last week, confirming labor market strength in the US. Initial claims for state unemployment benefits declined by 3,000 to 247,000 for the [..]

Forex Market Review (Asian Session) – Yellen sends dollar low against majors; euro recovers; aussie firms

Posted on July 13, 2017 at 8:47 am GMT

The dollar eased against the yen on Wednesday, following Federal Reserve Chair Janet Yellen’s dovish speech. The dollar index fell 0.23% during the Asian session today, confirming weakness in the US currency. The euro gained, erasing most of yesterday’s losses on the back of falling bond yields. Janet Yellen started her two-day testimony to Congress yesterday with a more dovish take on monetary policy that sent the greenback plunging below the 113 level. The Fed Chair anticipates interest rates hikes [..]

Forex Market Review (European Session) – US dollar plunges on Yellen’s dovish talk; loonie up on BOC interest rate hike

Posted on July 12, 2017 at 3:27 pm GMT

The US dollar plunged against the yen and other major peers following the release of Federal Reserve Chair Janet Yellen’s monetary policy report to Congress. The loonie gained against the greenback after the Bank of Canada announced an interest rate increase at its monetary policy meeting today. The Fed Chair Janet Yellen in her opening remarks to Congress took a positive stance on the labor market and the US economy. She said job gains were above the bank’s estimate and [..]

Forex Market Review (Asian Session) – Dollar slides amid new discoveries in Trump controversy; markets eye Yellen’s testimony

Posted on July 12, 2017 at 7:56 am GMT

The dollar fell to a more than one-week low against a basket of major currencies in late US trading yesterday, after U.S. President Donald Trump’s eldest son released an email chain citing Russian support for his father before last year’s U.S. election. The greenback continued trading lower for most of the Asian session today. The main focus of the day will be Federal Reserve Chair Janet Yellen’s testimony in Congress. President Donald Trump’s eldest son released emails last night that [..]

Forex Market Review (European Session) – Weak data fails to dent US dollar; sterling weakens near 10-day low

Posted on July 11, 2017 at 3:04 pm GMT

The dollar ignored a weaker-than-expected US JOLTs report and rose higher against the yen as the European session was coming to a close. The greenback gained against most of its major counterparts, with the dollar index rising a tenth of a percent to 96.125. Oil reversed from its earlier gains. The JOLTS report showed the number of job openings in the US fell to 5.666 million in May from a downwardly revised 5.967 million in the previous month and fell short [..]

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