DXY

Forex Market Review (European Session) – Pound rises on GDP, hike speculation; loonie declines on BoC inflation expectations

Posted on October 25, 2017 at 3:07 pm GMT

The British pound was a notable gainer during today’s trading as forex market participants revised upwards their expectations for a quarter percentage point interest rate rise to be delivered by the Bank of England after UK third quarter growth beat expectations. The dollar was gaining ground relative to the loonie, aussie and the kiwi and retreating versus the euro, yen and of course sterling. At 1542 GMT, the dollar index, which gauges the greenback against the currencies of six major [..]

Forex Market Review (European Session) – Yen weakens ahead of Japanese elections; loonie falls sharply as retail sales miss expectations

Posted on October 20, 2017 at 3:46 pm GMT

As markets head into the weekend, investors during the European session were concentrated on political developments in Spain as well as on Brexit negotiations. Japanese snap elections would be also in focus on Sunday with the yen showing some weakness on Friday. However, the loonie was the worst performer out of majors today after retail sales and inflation figures came in worse than expected. The dollar index managed to pick up by 0.34% on the day, reaching a two-day high of 93.54 during the session as the Senate’s approval of the 2018 budget [..]

Yen weakens ahead of Japanese elections; loonie falls sharply as retail sales miss expectations

Posted on October 20, 2017 at 3:39 pm GMT

Forex Market Review (Asian Session) – Dollar faces tailwinds on 2018 fiscal budget approval; kiwi plummets as economic risks grow

Posted on October 20, 2017 at 7:56 am GMT

The approval of a budget blueprint for the 2018 fiscal year, drove the dollar higher against its major counterparts on Friday in Asia, while the kiwi extended its losses in the face of economic uncertainties which might emerge under the new coalition government. Trump’s tax plan, which promises substantial tax cuts to businesses and individuals, is ready to move to the House of Representatives after the Republican-controlled Senate voted in favor of the 2018 fiscal budget yesterday which would add $1.5 trillion to the federal deficit over the next [..]

Forex Market Review (European Session) – Kiwi bears take charge on new government announcement; pound slips after retail sales slump

Posted on October 19, 2017 at 2:52 pm GMT

The kiwi posted additional long red candles during the European session after the kingmaker New Zealand First party backed the opposition party early today, forming a new coalition government. The pound fully reversed yesterday’s gains in the wake of worse-than-expected retail sales. September’s British retail sales tumbled by 0.8% from August, surprising analysts who had projected a smaller contraction of 0.1% as the pound’s weakness raised import costs and hence hit consumers’ wallets. The previous reading was also revised downwards [..]

Forex Market Review (Asian Session) – Kiwi sinks as Peters supports Labour Party; aussie slips as China’s growth softens

Posted on October 19, 2017 at 8:07 am GMT

A day after China’s twice-in-a-decade Communist Party Congress commenced, statistics out of China showed that the economy continued to grow above the government’s annual target, giving more confidence on President XiJinping’s leadership. However, the expansion was slightly softer relative to the previous quarter, with the Australian dollar falling slightly in the wake of the data. In New Zealand, the Labour Party looks set to govern the country pushed the kiwi to a near five-month low. According to the National Bureau of Statistics [..]

Forex Market Review (European Session) – Dollar pulls back as Trump opposes Senate healthcare deal; pound down as real wages disappoint

Posted on October 18, 2017 at 3:34 pm GMT

While China was in the spotlight during the day, with the Chinese President Xi Jinping opening the country’s biggest political event, the Communist Party Congress, in the US, President Trump showed opposition to the bipartisan healthcare deal, driving the dollar lower. The pound also weakened after employment data showed that UK real wages remain negative. The dollar index stalled its uptick driven mainly by speculations that Trump will replace the Fed chair with a hawkish candidate in February, retreating to [..]

Forex Market Review (Asian Session) – Eyes on Chinese communist party conference; loonie, Mexican peso jump as NAFTA talks extend

Posted on October 18, 2017 at 7:54 am GMT

Markets turned their focus on China on Wednesday, as China’s President Xi Jinping welcomed the biggest political event in the country, the Communist Party Congress, which plays a key role in the global economy. Meanwhile, the announcement of NAFTA talks extending to next year gave room for improvement to the Canadian dollar and to the Mexican peso. The Chinese President XI Jinping opened the twice-in-a-decade and closed-door Communist Party Congress in Beijing on Wednesday, with investors expecting the leaders of the world’s second-largest economy to announce any policy [..]

Forex Market Review (Asian Session) – Dollar rises as hawkish Fed candidate in favor; aussie extends losses after RBA minutes

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

On Tuesday, the dollar drifted higher in Asia on speculations that a hawkish Fed candidate impressed the US President. On the other hand, the Australian dollar dipped into losses after the RBA meeting minutes reiterated concerns on overloaded household debt. Markets were surprised to hear on late Monday that the Stanford Economist, John Taylor, who was in a lower position on Trump’s shortlist of Fed chief candidates made an impression to Trump after an hour-long interview last week in the White House. Taylor is [..]

Forex Market Review (European Session) – Pound steady ahead of May’s Brussels meeting; euro posts moderate losses after Puigdemont misses deadline

Posted on October 16, 2017 at 3:22 pm GMT

With Fed chair Janet Yellen being confident that inflation measures will move towards the Fed’s 2% target in the upcoming months and business conditions improving the most in three years in October according to a survey conducted by the New York Fed, the dollar index managed to gain 0.12% on the day, climbing to a 5-day high of 93.36. Dollar/yen stood flat around 111.81. Meanwhile, in the fiscal policy front, a tax analysis released by the Trump administration on Monday [..]

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