DXY

Forex Market Review (Asian Session) – Dollar holds weak amid fresh threats from North Korean peninsula; pound strengthens ahead of May’s speech

Posted on October 9, 2017 at 8:27 am GMT

On Monday, the dollar could not recover from Friday’s losses as North Korean tensions came back to the spotlight and as liquidity was limited during the session with South Korea, Japan, and China being closed for holidays, while US markets will be partially shut for Columbus Day. Although the report on US nonfarm payrolls released on Friday raised hopes for a third hike in December as wage growth picked up unexpectedly and the unemployment rate retreated further, renewed US-North Korea tensions gave a breather to the [..]

Forex Market Review (European Session) – Nonfarm payrolls turn negative but wages feed dollar bulls; oil gives up gains on Tropical Storm Nate

Posted on October 6, 2017 at 3:28 pm GMT

According to the widely-expected nonfarm payrolls report, 1.5mn people stayed out of work due to dangerous weather conditions in September, dampening the number of jobs added to the economy. This, however, was not the biggest surprise, as investors had been warned about the negative consequences arising from the devastating hurricanes. What was instead a more unexpected fact, was the upside change in wage growth which consequently pushed the dollar to fresh highs and boosted confidence in the US economy. In [..]

Forex Market Review (Asian Session) – Dollar rallies as US tax reforms head to Senate; pound tumbles to one-month low

Posted on October 6, 2017 at 7:58 am GMT

A stream of upbeat US economic data, as well as the approval of the 2018 fiscal budget in the US on Thursday, boosted the dollar to a 7-week high on Friday ahead of the widely expected nonfarm payrolls due later today. Meanwhile, the pound stretched its downtrend as concerns over May’s leadership continued to weigh on the currency. Late on Thursday, the Republican-led US House of Representatives gave the green light to the 2018 fiscal spending to set the stage for a tax overhaul which is expected [..]

Forex Market Review (Asian session) – Dollar holds strong amid rising economic confidence; aussie tumbles after retail sales shrink

Posted on October 5, 2017 at 8:01 am GMT

On Thursday, the dollar opened higher in the Asian session, gaining from investors’ increasing confidence on the US economy, while its Australian counterpart fell sharply after underpaid consumers tightened their spending, driving retail sales to the lowest level in five years. The dollar index moved from yesterday’s closing price of 93.28 to a high of 93.37 in Asia before it slipped back as upbeat US non-manufacturing data released on Thursday continued to support the dollar against its rivals and the Fed chair Janet Yellen failed to give any [..]

Forex Market Review (European Session) – Dollar shines on ISM non-manufacturing PMI numbers; oil up after Putin’s remarks and EIA report

Posted on October 4, 2017 at 3:22 pm GMT

Not long before the session-end, the dollar index shot higher against its peers, reversing daily losses after the ISM non-manufacturing PMI readings for the month of September posted the highest mark since August 2015. The index surged by 4.5 points to 59.8, whilst projections were for a smaller increase to 55.5. New orders, employment and price PMI indices within the services industry also touched fresh highs, with prices surging the most in five years. The Markit equivalent also came in [..]

Forex Market Review (Asian Session) – Dollar weakens on concerns over dovish new Fed chair

Posted on October 4, 2017 at 7:47 am GMT

On Wednesday, economic market drivers were limited as the economic calendar was lacking important data. However, a final list of subsequent Fed candidates and speculations that Trump might nominate a less hawkish candidate pressured the dollar lower during the Asian session, giving a push to other major currencies. However, growing expectations of a third-rate hike in December kept the dollar index above the 93 key-level. During the Asian session, the dollar index, which gauges the dollar’s strength against its major peers, [..]

Forex Market Review (European Session) – Dollar retreats as investors take profits; euro rebounds

Posted on October 3, 2017 at 3:05 pm GMT

The dollar pared earlier gains during the European trading hours as investors were engaging in profit-taking, while the euro managed to rebound despite political uncertainty remaining in the background. The dollar index retreated from the 1 ½-month high of 93.92, falling to 93.45 before the session-end as investors were locking in gains ahead of the nonfarm payrolls report to be released on Friday. Investors though seem to remain confident on the US economic environment and Trump’s tax policy which aims to deliver large tax cuts to businesses. The pound [..]

Forex Market Review (Asian Session) – Dollar bulls in charge on improved US economic outlook; aussie down after RBA policy meeting

Posted on October 3, 2017 at 7:36 am GMT

On Tuesday, rising economic prospects in the US kicked the dollar higher to a 1 ½-month high against its major rivals during Asian trading, while a steady monetary policy and an unchanged economic outlook as indicated overnight by RBA policymakers sent the aussie down to a two-month low. The spot dollar index stretched its uptrend during the Asian session, reaching a fresh 1 ½-month high of 93.92 as confidence in the US economic environment was enhanced after the release of upbeat manufacturing PMI readings on Monday and the Fed retained its [..]

Forex Market Review (European Session) – Dollar strengthens after manufacturing PMI beat; pound hits three-week low as manufacturing industry slows

Posted on October 2, 2017 at 3:23 pm GMT

The dollar continued its rally during the European session and managed to peak at a two-week high against its major peers following upbeat manufacturing PMI releases, although a music festival in Las Vegas turned into the deadliest mass shooting in US history. However, gains from positive data were short-lived following dovish remarks by the Minneapolis Fed President Neel Kashkari. The UK manufacturing PMI numbers failed to provide support to the pound, which was one of the worst performing currencies relative to the dollar during the day, hitting [..]

Forex Market Review (Asian Session) – Euro dips into losses after violent Catalan independence vote; dollar gains

Posted on October 2, 2017 at 8:04 am GMT

With markets in China, South Korea, Hong Kong and India being closed for public holidays, the dollar managed to recover from earlier losses against its peers in Asia – helped by higher US Treasury yields – while the euro recorded a downtrend in the wake of a political crisis in Spain. The dollar posted gains versus a basket of major currencies during the Asian session on the back of higher US Treasury yields, with the dollar index rising by 0.40% on the day to 93.26. [..]

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