DXY

Forex News – Dollar gathers tailwinds as White House departures continue

Posted on August 21, 2017 at 3:17 pm GMT

Steve Bannon, known as the brain power behind Trump’s nationalistic ideology, has mutually agreed to exit the position of the Chief strategist at the White House on Friday, extending the list of people departing from the Trump’s inner circle. With the board of directors being replaced frequently, as never happened before, uncertainty around Trump’s administration has been escalating, dragging the dollar into further losses. Following numerous resignations last weekend, with the CEO of two business councils leaving their positions in [..]

Forex Market Review (Asian Session) – Washington drama continues to weigh on markets, investors await Jackson Hole

Posted on August 21, 2017 at 7:41 am GMT

In the absence of any significant economic data releases during today’s Asian trading, the political drama surrounding President Trump continued to take central stage. The President fired his chief strategist Steve Bannon on Friday and in that way continued the string of staff shake up in the White House. The key event of this week will be the meeting of central bankers in Jackson Hole towards the end of the week. Late on Friday, markets got another news out of [..]

Forex Market Review (European Session) – Loonie spikes on rising inflation; consumer sentiment provides some relief to weak dollar

Posted on August 18, 2017 at 2:57 pm GMT

Ahead of the US session open, a jump in the Canadian dollar was one of the biggest moves of the day following the inflation figures out today. The release of the Michigan consumer sentiment index that surprised to the upside provided an early lift to the weak dollar. However, the greenback was still down against most majors due to a heavy plunge in the prior few sessions. The dollar index fell around 0.30% to last trade at 93.36. The Canadian [..]

Forex Market Review (European session) – Sterling heads up as UK unemployment hits 42-year low; dollar reaches fresh three-week high

Posted on August 16, 2017 at 3:45 pm GMT

With North Korea and the US pulling back from their confrontation stance, the focus turned back to economic releases. The dollar followed an upward path despite weaker housing data, while better than expected labor figures in the UK pushed sterling higher. The lowered US crude inventories published during late European session lifted oil prices. The dollar index peaked at a fresh three-week high of 94.14 during the European session, ignoring today’s disappointing US data on building permits and housing starts. [..]

Forex Market Review (Asian Session) – Dollar continues gaining against yen after yesterday’s surge on upbeat retail sales

Posted on August 16, 2017 at 7:48 am GMT

The US dollar continued gaining during the Asian session following yesterday’s spike versus the yen on upbeat retail sales. Sterling was also down against the greenback during morning trading, while other majors including the euro, aussie, kiwi and the Canadian dollar managed to recoup some of the losses against the US currency. The dollar index was broadly flat at 93.84. In terms of economic data, today’s first session of the day was relatively quiet. The wage price index for the [..]

Forex Market Review (Asian Session) – Dollar steady against yen after yesterday’s surge on upbeat retail sales

Posted on August 16, 2017 at 7:42 am GMT

The US dollar held steady during the Asian session following yesterday’s spike versus the yen on upbeat retail sales. Sterling was also down against the greenback during morning trading, while other majors including the euro, aussie, kiwi and the Canadian dollar managed to recoup some of the losses against the US currency. The dollar index was broadly flat at 93.84. In terms of economic data, today’s first session of the day was relatively quiet. The wage price index for the [..]

Forex Market Review (European session) – Dollar climbs as war tensions calm; euro drifts lower after poor industrial performance

Posted on August 14, 2017 at 3:05 pm GMT

During European trading hours, the dollar managed to reverse partially from losses made on Friday, after comments by two US civil officials and the South Korean president on Monday eased war tensions between the US and North Korea. Meanwhile, the euro weakened as data out of the eurozone showed that industrial output in the area missed expectations. Following Trump’s comments on Friday, who warned that the US army was “locked and loaded” if North Korea acted unwisely, the South Korean president, Moon Jae-in, said on Monday in a meeting [..]

Forex Market Review (European Session) – US-North Korea dispute remains on the forefront; dollar weakens on inflation

Posted on August 11, 2017 at 2:53 pm GMT

Rising tensions between North Korea and the United States were once again the theme of the day with only the release of much-awaited inflation figures out of the US managing to divert attention away from developments on that front. Inflation numbers surprised to the downside, leading the dollar to post considerable losses relative to other major currencies within the first minutes of data release. The all-important July inflation numbers out of the US failed to satisfy dollar bulls’ hopes of [..]

Technical Analysis – Dollar index comes off 15-month lows; bearish bias still in place

Posted on August 11, 2017 at 9:23 am GMT

The dollar index has continued extending its downtrend that started on January 4. After it touched a 15-month low on August 2, it bounced up moderately, but both the short-term and the medium-term outlook remain bearish. According to the technical indicators, the index is bearish in the short-term. The RSI has been fluctuating below the neutral zone of 50 since May 11, while it managed to break above the oversold area (July 20) on August 4. The MACD has been trending in [..]

Forex Market Review (Asian Session) – Geopolitical tensions unfold, though rally for safe havens comes to halt

Posted on August 11, 2017 at 7:38 am GMT

Escalating turmoil between the US and North Korea has continued to dominate the news flow in forex markets as the war of words threatens to spill over into army confrontation. However, the demand rally for the safe haven assets came to a halt ahead of European trading. Oil prices dropped, reversing some late night gains. Markets in Asia woke up to news that President Trump increased his verbal threat to North Korea by saying that his earlier comment about “fire and [..]

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