Daily Market Analysis

Forex Market Review (Asian Session) – Dollar extends losses on Trump comments; aussie jumps after solid Australian jobs report

Posted on April 13, 2017 at 7:30 am GMT

The dollar weakened further today after US President Donald Trump said in an interview with the Wall Street Journal that the greenback is “getting too strong”. The Australian dollar was a strong performer on the back of a solid jobs report. Trump expressed his concern that US businesses, especially manufacturers, won’t be able to compete with other countries since American goods would be more expensive when the dollar’s value is too high. Meanwhile, the US President also remarked that he [..]

Forex Market Review (European Session) – Loonie jumps after Bank of Canada raises growth forecast; sterling up after UK jobs report

Posted on April 12, 2017 at 2:41 pm GMT

Geopolitical concerns continued to dominate the markets but demand for safe haven assets somewhat eased slightly during the European session, with the yen and gold trimming some gains. Risk aversion helped support the yen, gold and US Treasuries, as investors demanded safety due to uncertainty over possible US military action against Syria and North Korea. Market participants await more details about the meeting between US Secretary of State Rex Tillerson and Russian Foreign Minister Sergei Lavrov. Gold prices were flat but [..]

Forex Market Review (Asian Session) – Gold and yen at five-month highs on geopolitical risk

Posted on April 12, 2017 at 7:37 am GMT

Geopolitical concerns continued to be the dominant theme in the markets today, the yen jumped to five-month high and gold traded at the highest level this year. Risk aversion also pushed investors into the safety of US Treasuries. News related to tensions over North Korea and Syria mostly took the market’s attention and Chinese inflation data today were shrugged off as the figure was around expectations. CPI increased 0.9% year-on-year in March, which slightly undershot forecasts for a 1.0% rise, [..]

Forex Market Review (European Session) – Yen extends gains on risk aversion; Pound edges up after UK inflation data

Posted on April 11, 2017 at 2:06 pm GMT

The Japanese yen extended its gains into today’s European session as investors sought safety amid the heightened risk-off sentiment following tensions in the Middle East and in North Korea. US treasury notes were also in demand, with the yield on 10-year notes dropping to an intra-day low of 2.323%, which weighed on the greenback. Gold meanwhile climbed back towards last week’s 5-month high, hitting $1266 an ounce in late European trading. The US dollar wallowed around 110.60 yen for much [..]

Forex Market Review (Asian Session) – Dollar weakens, safe havens gain on geopolitics and Yellen comments

Posted on April 11, 2017 at 7:27 am GMT

Safe haven assets were in demand as risk aversion in the markets today drove investors to the yen and gold. Geopolitical concerns and Fed Chair Janet Yellen’s comments weighed on US Treasury yields. The dollar index consolidated losses after falling below the key 101 level yesterday. Tensions in Syria and growing unease about North Korea supported gold prices, which rose for a second day to reach an Asian session high of $1257.46. The Chair of the US central bank, Janet [..]

Forex Market Review (European Session) – Dollar down despite 4-week high earlier in the day; upbeat housing data boost the loonie

Posted on April 10, 2017 at 2:47 pm GMT

Today’s European session was lacking any major economic releases as only the Sentix survey measuring Eurozone investor morale and housing starts out of Canada gathered some attention. Beyond those, recent geopolitical developments played a role in today’s movements as well. The dollar index was down one-tenth of a percent during late European session trading. The index, a broad gauge of dollar strength versus the currencies of major US trade partners, rose to a near four-week high of 101.34 earlier in [..]

Forex Market Review (Asian Session) – Dollar extends gains; euro at one-month lows; focus on Yellen

Posted on April 10, 2017 at 7:41 am GMT

The dollar rose for a third day against the yen despite Friday’s lower-than-forecast US non-farm payrolls (NFP) report, as risk aversion somewhat faded following Friday’s news of a US missile strike in Syria. The dollar index is trading near a four-week high. There was a relatively light economic calendar for the Asian session. Japan released upbeat current account data which had little impact on the yen. In Australia, home loans data were worse-than-expected and this had a negative impact on [..]

Forex Market Review (European Session) – Dollar rebounds after closer look at latest job report; Pound slides to nine-day low

Posted on April 7, 2017 at 3:36 pm GMT

The highlight of the day in terms of data was the US jobs report but other developments on the geopolitical front, namely the US attack in Syria, also shaped market behavior during today’s European session trading. The dollar was stronger for the day relative to the euro and sterling but slightly weaker versus the Japanese currency in late European session trading. Dollar / yen hit an eleven-day low of 110.12 in Asian trading as news of a US missile launch [..]

Forex Market Review (Asian Session) – Gold and yen jump on risk aversion after US missile strike on Syria; focus shifts to nonfarm payrolls

Posted on April 7, 2017 at 7:47 am GMT

Gold and the yen jumped during Asian trading on Friday, while stock markets fell on geopolitical risk, pushing investors out of risky assets and into safe havens. There were flows into US Treasuries as well. News of a US missile launch on an airbase in Syria rattled global markets, as it raised the risk of a confrontation with Russia and Iran. The knee-jerk reaction in the forex markets saw the dollar drop against the yen to its lowest level since [..]

Forex Market Review (European Session) – Euro hurt by Draghi; Trump-Xi meeting in focus

Posted on April 6, 2017 at 2:57 pm GMT

The main data point in today’s European session trading pertained to US weekly jobless claims. Those came in better than expected but failed to provide an additional boost to an otherwise stronger dollar on the day. Beyond economic releases, the Trump-Xi meeting looms ahead, while the euro was negatively affected by some dovish-perceived comments by the head of the European Central Bank. The dollar index, a broad gauge of dollar strength, edged higher today. If it closes in the green, [..]

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