DXY

Forex Market Review (European session) – NFP disappoints but dollar finds support on Manufacturing PMI; euro down as ECB Constancio and Nowotny remain cautious

Posted on September 1, 2017 at 3:28 pm GMT

The dollar went downhill during the mid-European trading hours as the widely expected and Fed’s closely watched indicators, nonfarm payrolls and earnings, came in worse than expected in August but managed to recover on upbeat manufacturing PMI readings. The euro hit lower while the dollar was rebounding but did not show significant reaction to the less hawkish remarks made from ECB officials on Friday. While analysts expected nonfarm payrolls to increase by 180,000 in August, the actual number popped up [..]

Forex Market Review (Asian session) – Dollar ticks up in Asia ahead of NFP; Aussie weaker ahead of busy week

Posted on September 1, 2017 at 8:00 am GMT

With geopolitical risks remaining in the background and the tropical Storm Harvey devastating the Southern US, the dollar managed to reverse some of yesterday’s losses during the Asian session. Investors were also forming their predictions for the widely expected nonfarm payrolls released later today. The aussie posted short-lived gains during today’s trading after AIG manufacturing index and the Chinese Caixin came in better than expected. Following disappointing inflation and consumer spending readings published on Thursday as well as US Treasury [..]

Forex Market Review (Asian Session) – Dollar extends gains as economic confidence rises; Aussie weaker after CAPEX; Kiwi hits 2 ½ – month low

Posted on August 31, 2017 at 7:46 am GMT

The dollar had a relatively winning battle against its peers overnight, extending its positive momentum after investors restored their confidence in the US economy despite geopolitical risks remaining high and huge damages from the ongoing tropical storm Harvey. On the other hand, the Australian dollar performed poorly, failing to find support on positive economic data, while the Kiwi was the worst performer after figures out of New Zealand came in disappointing. While waters continued rising in southeast Texas and slow-moving [..]

Forex Market Review (Asian Session) – Dollar pares losses as North Korean risks ease; Aussie hits 4-week high on upbeat construction spending

Posted on August 30, 2017 at 7:33 am GMT

While the US counts the damage from the ongoing disastrous tropical storm Harvey, the dollar managed to reverse losses during the Asian trading hours as investors’ fears over a dangerous escalation of tensions between North Korea and the US eased. Meanwhile, the aussie peaked at a 4-week high after construction projects recorded the highest growth in six years. Despite catastrophic thunderstorm Harvey continuing to move slowly around Texas, causing the death of 12 people and a damage amounting to 10bn dollars so far, [..]

Forex Market Review (European Session) – Majors move sideways ahead of busy weekly calendar; oil down as Texas energy refineries shut down

Posted on August 28, 2017 at 3:29 pm GMT

With today’s economic calendar lacking important data, major currencies were trading sideways during European trading hours, while market watchers were weighing the damage from the life-threatening tropical storm Harvey which forced the closure of the Texas oil industry on Monday. However, in the coming days, forex markets will be on the receiving end of important data releases from major economies. The dollar struggled to recover from the 2-½-year lows it recorded against its rivals during early Asian session after the Fed Chief [..]

Forex Market Review (European Session) – Yellen induces dollar’s tumble, traders await Draghi for further moves

Posted on August 25, 2017 at 2:45 pm GMT

The dollar tumbled against all majors following the speech of Federal Reserve Chair Yellen at the Jackson Hole symposium. The US currency managed to trade higher against the yen for most of the European session and got a small lift after the release of US durable goods data, but that was short-lived. The dollar index fell 0.43% to last trade at 92.89. The US dollar traded around the value of 109.57 yen for most of the day leading up to [..]

Forex Market Review (Asian Session) – Dollar gains ahead of Jackson Hole; oil up on Texas output disruption

Posted on August 25, 2017 at 7:36 am GMT

The dollar gained against the yen and the euro ahead of the central bankers’ symposium in Jackson Hole. The dollar index was up 0.11% and was trading at 93.37 as Asian traders were heading home for the week. Oil prices also rose on the possible disruption in the Gulf of Mexico, in Texas. The release of the encouraging Japanese CPI data did little to lift the yen against the dollar as the pair traded on the back of strong dollar [..]

Forex Market Review (European Session) – Euro gains on PMI, hits fresh 10½-month high Vs sterling; dollar hurt by Trump, data misses

Posted on August 23, 2017 at 3:11 pm GMT

During today’s European session, forex market participants pushed the euro higher on the overall positive picture given by the PMI figures released earlier in the day. In the meantime, the dollar index was down with the US currency being on a negative footing in today’s trading after some comments made by the US President yesterday in Phoenix. Data releases falling short of forecasts also weighed on the US currency. Eurozone flash PMI figures for the month of August were released [..]

Forex Market Review (Asian Session) – Trump yet again induces dollar weakness against yen; other majors edge down

Posted on August 23, 2017 at 7:23 am GMT

President Trump has yet again induced weakness in the US currency with his remarks about a possible government shutdown to fulfill his campaign promises. The greenback weakened against the yen, but gained against other majors making the dollar index flat on the day. The release of flash PMI data out of the eurozone will attract some traction during early hours of European trading. Speaking at a rally in Phoenix, President Trump said “If we have to close down the government, we [..]

Forex Market Review (Asian Session) – Dollar firms up in humdrum market; oil rises on tightening US supply

Posted on August 22, 2017 at 7:13 am GMT

In an uneventful trading during the Asian session due to the absence of any economic data releases, the dollar edged up. The dollar index, which measures the greenback’s value against a basket of six major currencies inched up 0.12% to last trade at 93.21. Oil prices rose amid indications that supply is tightening. Looking at reactions in the forex market, the dollar strengthened against most majors. Euro/dollar fell just below the $1.18 mark to last trade at $1.1795. The pound [..]

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