Daily Market Analysis

Asian Session – Dollar pauses slide against yen; focus turns to US House vote on healthcare

Posted on March 23, 2017 at 8:45 am GMT

The risk aversion in markets dissipated today and demand for safe havens eased. This helped the dollar make some recovery against the yen, while gold paused its six-day rally. The dollar moved off four-month lows hit against the yen yesterday at 110.72 on investor concerns over US President Trump’s ability to push through his policies on growth and tax reforms. The greenback last traded around 111.20 yen in late Asian session but focus will remain on the currency today as [..]

European Session – Majors hit fresh highs against the dollar; Oil plunges on rising stockpiles

Posted on March 22, 2017 at 3:56 pm GMT

In the absence of significant data releases, barring existing home sales out of the US and oil inventory data from the Energy Information Administration, investors mainly focused on political developments and speculative views on potential moves by numerous central banks to place their positions during today’s European session trading. Looking at the dollar index, a gauge of the US currency’s strength relative to major counterparts, it recorded a seven-week low today, reaching 99.56. This was on the back of market [..]

Asian Session – Dollar slides as investors fear delay in Trump fiscal plans

Posted on March 22, 2017 at 8:39 am GMT

Risk aversion in the markets led to safe haven demand, helping the yen strengthen and the dollar index fall below 100. Sterling was one of the best performing major currencies after UK inflation rose to the highest in over three years. The dollar fell to its lowest level since November 23 against the yen, reaching 111.25 in the Asian session. The dollar index, which gauges the greenback against a basket of six major currencies, slid to 99.72, trading below 100 for [..]

European Session – Pound surges to 3-week high after UK inflation breaks BoE’s 2% target; Euro tests $1.08

Posted on March 21, 2017 at 3:01 pm GMT

The British pound was the best performing major currency in Tuesday’s European session as it was lifted from stronger-than-expected inflation data out of the UK. The euro was another star performer as it benefited from positive developments in the French presidential campaign, while the US dollar continued to drift lower. Annual inflation in the UK jumped to 2.3% in February, beating estimates of a milder increase to 2.1% from January’s 1.8%. This takes the headline rate to the highest since [..]

Asian Session – Euro rallies after French debate; dollar under pressure after Fed speakers

Posted on March 21, 2017 at 8:31 am GMT

The dollar remained soft in Asian trading today as it came under pressure from falling US Treasury yields following not-so-hawkish speeches by Fed officials on Monday. Chicago Fed President Charles Evans diminished hopes for a faster pace of rate hikes after he reiterated the Fed’s message from last week’s FOMC meeting that the pace of interest rate increases will be gradual and the projections were for a total of three hikes this year. Meanwhile, Minneapolis Fed President Neel Kashkari, who [..]

European Session – Pound slips on announcement of date to trigger Article 50

Posted on March 20, 2017 at 3:58 pm GMT

The US dollar index made some recovery during the European session after dipping to a six-week low of 100.02 in the Asian session. The antipodeans outperformed the greenback while the loonie was weaker today due to lower oil prices in the wake of the Baker Hughes oil rig count. The pound fell sharply on news of the Article 50 trigger date. In a relatively quiet day in terms of economic data releases, the main news of the day was the [..]

Asian Session – Dollar under pressure, near 3-week lows against yen; gold extends rally

Posted on March 20, 2017 at 8:43 am GMT

There was a quiet start to the week as closed markets in Japan led to lackluster trading during the Asian session. With not a lot on the economic calendar, investors digested news from the Group of 20 meeting that took place over the weekend, while currencies consolidated moves from last week. Slight risk aversion led to yen buying. The dollar was down again today. Finance ministers at the G-20 meeting in Germany over the weekend reiterated their stance against competitive [..]

European Session – Dollar lacks momentum; G20 meeting on investors’ radar

Posted on March 17, 2017 at 4:10 pm GMT

Today’s European session was relatively quiet in terms of economic data with a few figures out of the US, including industrial output and the University of Michigan’s consumer sentiment survey, gathering most attention. Market participants are now preparing themselves for the G20 meeting that is to follow over the weekend. The dollar index, a measure of the greenback’s strength relative to the currencies of major trading partners to the US, was last slightly up for the day after rebounding from [..]

Asian Session – Euro gets added boost on ECB official’s comments; dollar holds post-FOMC losses

Posted on March 17, 2017 at 8:00 am GMT

The euro was one of the top performing major currencies in the Asian session today after being lifted by comments from a European Central Bank official who hinted at a rate increase. The US dollar remained weak in the wake of the FOMC and is on track to end the week with sharp losses against the yen. The euro rose against the dollar in Asian trading and reached a more-than 5-week high of $1.0781 on hawkish comments from an ECB [..]

European Session – Sterling jumps on speculation of hike coming sooner; Dollar falls on “dovish” hike

Posted on March 16, 2017 at 4:06 pm GMT

The dollar weakened today as the Federal Reserve disappointed in its forward guidance following the rate hike announcement. The euro initially stood stronger as it was helped by the outcome of Dutch elections, though it didn’t manage to maintain momentum later in the day. Sterling was boosted after the Bank of England meeting, while the day saw the release of numerous economic figures, such as jobless claims out of the US, for traders to digest as well. The dollar index [..]

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