DXY

Forex Market Review (Asian Session) – Dollar weaker on possible tax cut delay; kiwi steady ahead of RBNZ meeting

Posted on November 8, 2017 at 8:55 am GMT

The dollar opened weaker in Asia as traders were concerned about a potential delay in the implementation of a corporate tax cut, while they also turned cautious on US-North Korea political developments after Trump delivered a warning message to North Korea. The kiwi stood flat ahead of the RBNZ policy meeting starting later today. A report by the Washington Post on Tuesday raised questions about the progress of the US tax legislation and hence pressured the dollar. The relevant article stated that Senate Republicans were considering a [..]

Forex Market Review (European Session) – Dollar holds strong despite Fitch raising debt ratio forecasts; euro dips further

Posted on November 7, 2017 at 4:38 pm GMT

Expectations that the Fed will proceed with a rate hike in December and an encouraging report on JOLTS job openings pushed the dollar higher during European trading hours, although Fitch raised its US medium-term debt-to-GDP forecasts. On the other hand, the euro was unable to find support on better-than-expected retail sales figures and despite the news that some key ECB officials opposed the central bank’s decision to continue buying assets until inflation improves. Fitch said on Tuesday that it expects a version of tax plans to pass the US Congress and push [..]

Forex Market Review (Asian Session) – Aussie gains little after RBA leaves rates unchanged; kiwi climbs on currency policy relief

Posted on November 7, 2017 at 8:33 am GMT

Early on Tuesday, the RBA decided to hold interest rates steady at record low levels, retaining its confidence on economic growth and the labour market. The aussie, however, posted short-lived gains following the policy statement as weak inflation continued to worry policymakers. Meanwhile, in New Zealand, the Finance Minister said that targeting the currency was not the new government’s monetary goal, lifting the kiwi higher for a while. In the wake of the RBA decision to keep rates at 1.5%, the aussie was [..]

Forex Market Review (European Session) – Pound gains on Brexit optimism; euro struggles despite robust economic data

Posted on November 6, 2017 at 4:30 pm GMT

During the European trading hours, the pound outperformed its peers as investors stood optimistic about Brexit developments, while the euro failed to find support on robust economic data out of the eurozone. With Brexit negotiations expected to resume on Thursday, the pound was on track to post gains for the second consecutive trading day supported mainly by encouraging remarks made by the British Prime Minister Theresa May in front of business leaders. May backed a deal on a transitional period crucial for businesses so as not [..]

Forex Market Review (Asian Session) – Dollar vs yen reaches 8-month high as BOJ’s Kuroda favors easy policy; oil pierces 2-year high

Posted on November 6, 2017 at 8:37 am GMT

The dollar managed to hit an 8-month high against the yen on Monday in Asia after the BOJ Governor Haruhiko Kuroda signaled a continuation of the current ultra-easy monetary policy, while persistent confidence on the US economy supported the pair as well. Oil recorded a substantial increase, rising to a two-year high amid tightening markets and as anti-corruption measures took effect in Saudi Arabia. With the economic calendar lacking important data, the dollar index which gauges the dollar’s strength against a basket of major currencies was [..]

Forex Market Review (Asian Session) – Dollar little changed ahead of jobs report; aussie loses ground on weak retail sales

Posted on November 3, 2017 at 8:29 am GMT

As Asian traders were completing this week’s trading, the dollar was not much changed relative to most major counterparts with investors’ attention falling to the US jobs report due at 1230 GMT. At 0818 GMT, the dollar’s index against a basket of currencies was 0.1% higher, trading at 94.79. It yesterday fell to a one-week low of 94.41, perhaps on uncertainty related to US tax reform. Euro/dollar was 0.1% lower and not far below 1.1650. Dollar/yen was flat, a few [..]

Forex Market Review (European Session) – Loonie falls sharply on GDP miss; pound boosted on Barnier; Eurozone readings mixed

Posted on October 31, 2017 at 3:26 pm GMT

The Canadian dollar lost ground versus its US counterpart as GDP figures unexpectedly reflected a contraction in the Canadian economy. Eurozone data on inflation, economic growth and unemployment out during today’s session gave a mixed picture. The pound moved higher after some comments by Michel Barnier, the EU’s chief Brexit negotiator, which suggested that Brexit talks are getting on the right path, while the dollar advanced following upbeat figures on consumer confidence. The dollar’s index against a basket of currencies [..]

Forex Market Review (European Session) – Dollar flexes its muscles on GDP beat; euro headwinds on Catalan independence

Posted on October 27, 2017 at 3:00 pm GMT

The dollar was standing broadly higher relative to most other major currencies as US quarterly GDP estimates beat expectations. However, the US currency gave up part of its gains later in the session as, according to a report by Bloomberg, US President Donald Trump is leaning towards Federal Reserve Governor Jerome Powell – a perceived dove – to lead the Federal Reserve after current Fed Chair Janet Yellen’s term expires next year. News of Catalonia declaring independence from Spain during [..]

Forex Market Review (Asian Session) – Dollar stands tall ahead of GDP; euro records 3-month low on “dovish tapering”

Posted on October 27, 2017 at 7:51 am GMT

The US currency stood higher on the day as the Asian session was nearing completion, though barring a development that makes US tax reform more likely, that was mostly due to other majors’ weakness rather than any dollar specific factors. Market participants are awaiting the advance estimate of US third quarter GDP growth which is due at 1230 GMT. The dollar’s index against a basket of currencies was trading 0.3% up on the day, near the day’s high and not [..]

Forex Market Review (Asian Session) – ECB in focus; dollar eases in need of fresh catalysts

Posted on October 26, 2017 at 7:49 am GMT

As the Asian session was about to complete, the euro was standing stronger ahead of the European Central Bank’s policy meeting, while the dollar was distancing itself on the downside from the highs it reached earlier in the week. The dollar index, which measures the strength of the US currency versus the currencies of six major US trading partners, was 0.1% lower at 0737 GMT, falling for a third straight day and moving further below Monday’s three-week high of 94.02. [..]

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