Daily Market Analysis

Forex Market Review (Asian Session) – Aussie gains on strong business conditions; dollar strength unfolds; oil up slightly

Posted on July 11, 2017 at 7:34 am GMT

As the Asian markets were about to close for the day, the dollar continued strengthening against the yen and the euro. The Australian dollar rose for the day on strong business conditions, while pressure on oil eased, as commodity prices showed some gains. The Australian dollar was among the rare gainers against the greenback during the Asian trading session. Supported by the newest data pointing to strong business conditions, the aussie climbed to $0.7623 ahead of the European open. Australian [..]

Forex Market Review (Asian Session) – Dollar continues to strengthen; euro steady; commodities pressured

Posted on July 10, 2017 at 7:51 am GMT

As the Asian markets were coming to a close, the dollar continued gaining against the yen following a strong boost on Friday. In the meantime, the yen was also weakened by soft data releases, reaching a near two-month low against the dollar. The euro was steady against the dollar while the pound gained ground, to ease some of the Friday’s weakness. The dollar continued building on Friday’s gains against the yen during today’s Asian session. Today’s speech by Bank of [..]

Forex Market Review (European Session) – Dollar makes comeback on NFP gain; sterling slips on weak UK manufacturing

Posted on July 7, 2017 at 2:30 pm GMT

There was a great amount of important economic data releases today. In the US, the key focus was on the non-farm payrolls jobs report, while the unemployment rate and average earnings growth were also of significant interest. Disappointing UK industrial and manufacturing production for May have been dictating sterling movements during the European trading session. The much-anticipated jobs report today showed a gain of 222,000 jobs in the US economy for June, which followed a revised 152,000 expansion in May [..]

Forex Market Review (Asian Session) – Yen falls on BoJ bond purchases; dollar gains ahead of jobs report

Posted on July 7, 2017 at 7:44 am GMT

During the Asian trading session, the yen fell against the dollar amid the latest Bank of Japan bond intervention. This helped the greenback reverse its losses against the yen following yesterday’s disappointing set of data out of the US. The focus of the day will be on the key jobs report to be released later in the day by the US Labor Department. The yen weakened against its major counterparts after the BoJ announced it was ready to purchase an [..]

Forex Market Review (European Session) – Dollar falls ahead of Friday’s employment report as euro gains on ECB minutes

Posted on July 6, 2017 at 3:07 pm GMT

The US dollar lost significant ground against the euro in today’s forex action while it was also under pressure against the yen as sentiment towards the greenback turned negative ahead of Friday’s employment numbers. In Europe, German factory orders for May grew by 1% month-on-month, while analysts had been expecting a 2% increase. During April, factory orders had fallen by 2.2%. In the monetary policy meeting accounts of the European Central Bank, there was a discussion whether the pledge to [..]

Forex Market Review (Asian Session) – Fed split opinions weaken dollar short-term; euro under pressure

Posted on July 6, 2017 at 7:42 am GMT

The US dollar had weakened against the yen during the early Asian trading session on the mixed tone from the minutes of the Fed’s latest meeting. However, the greenback gathered strength as the yen gave up gains ahead of the European open. Australia’s trade surplus lent some short-lived gains to the aussie. Minutes from the Fed’s latest meeting in June, at which the US central bank voted to raise interest rates, showed an absence of consensus about when to start the [..]

Forex Market Review (European Session) – Dollar continues rally ahead of Fed minutes and Friday’s jobs report; oil plummets

Posted on July 5, 2017 at 2:29 pm GMT

The US dollar put in a strong performance in post-July 4th trading ahead of key data releases tomorrow and Friday and as traders eagerly expected the minutes from the latest Fed meeting. Euro/dollar dropped to as low as 1.1311 during Wednesday’s European trading while dollar/yen rose to as high as 113.67 in a broad move higher for the greenback. The dollar index reached a 1-week high of 96.23 and thereby recovered some of the losses it suffered the previous week. [..]

Forex Market Review (Asian Session) – US dollar steady ahead of Fed minutes; euro, sterling modestly up

Posted on July 5, 2017 at 7:56 am GMT

Following yesterday’s low trading activity during the US session amid the 4th of July holiday in the US, not much data has been released during today’s Asian session either. Both, the euro and sterling modestly gained against the dollar. Looking at commodities, both oil prices and gold were up. The Australian dollar retraced some of yesterday’s losses, last trading at $0.7614, after tumbling on Tuesday as a result of the Reserve Bank of Australia’s decision to maintain a neutral policy [..]

Forex Market Review (European Session) – Praet keeps euro down while safe havens benefit from North Korean missile test

Posted on July 4, 2017 at 2:31 pm GMT

It was a relatively quiet forex trading session for Europe on Tuesday, as the 4th of July holiday in the US brought down volumes and overall activity. The main news of the day was the test of a long-range missile by North Korea, which led investors to seek the safety of havens such as the yen and gold. The gains by both the yen and gold were relatively modest however, suggesting that the North Korean action did not unsettle investors [..]

Forex Market Review (Asian Session) – Aussie under pressure; geopolitical concerns lift yen

Posted on July 4, 2017 at 7:45 am GMT

The Australian dollar came under pressure against the greenback on the unchanged cash rate by the Reserve Bank of Australia. Meanwhile, the yen got a lift amid geopolitical concerns induced by another North Korea missile test. The euro and sterling were broadly steady against the US dollar. The RBA left its cash rate unchanged at a historic low of 1.5% during its policy meeting earlier today. While this was widely expected by the markets, the aussie was under pressure against [..]

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