DXY

Forex Market Review (Asian Session) – Lingering US-North Korea tensions continue to constrain markets, kiwi falls on RBNZ

Posted on August 10, 2017 at 7:44 am GMT

Intensifying turmoil between the US and North Korea continued to strain forex markets across the globe and to lift demand for assets perceived as safe havens for the second day. The yen and gold continued rising, while the Swiss franc took a breather against the dollar (last trading at 0.9660 francs) and the euro, but kept most of its yesterday’s hefty gains. North Korea went further with its threat to the US by providing detailed plans about how it plans to launch missile [..]

Forex Market Review (Asian Session) – Safe-haven assets gain on escalating US-North Korea geopolitical turmoil

Posted on August 9, 2017 at 7:44 am GMT

Geopolitical woes between the US and North Korea escalated overnight following announcements by the presidents of both countries. In response, safe-haven assets such as the yen, Swiss franc and gold strengthened overnight. The dollar index was moderately down ahead of European trading. The escalating situation commanded the news flow during the Asian session, overshadowing other economic developments of significance for forex markets. North Korea announced that its leader Kim Jong Un was weighing a possibility to strike the US Pacific territory of Guam [..]

Forex Market Review (European Session) – Dollar touches 1½ week- high as Job openings hit a record high; oil pares gains amid ongoing oversupply

Posted on August 8, 2017 at 3:54 pm GMT

With political uncertainties in the US in the background and tensions between North- Korea and the US increasing, the dollar managed to recover from yesterday’s losses as US job vacancies reached a record-high in June and drove the currency to a 1½ week- high. Meanwhile, in the commodity markets, oil could not sustain its gains arising from Saudi Arabia’s willingness to cut its oil supplies by more than it pledged, as global oil production does not show any signs of [..]

Forex Market Review (Asian Session) – Dollar weakens in wake of US inflation, euro strengthens and oil pressured

Posted on August 8, 2017 at 7:34 am GMT

Chinese economic data dominated today’s Asian session as dollar traders await key consumer prices figures for July due on Friday. The dollar index gave up on some of the strong gains from Friday to last trade at 93.36. The euro was up against the greenback, trading above the 1.1800 handle. Disappointing trade data out of China got some investors worried about a slowdown in the global economy. Annually, exports from the mainland grew 7.2% in July, slowing down from 11.3% in June and coming [..]

Forex Market Review (European session) – Euro struggles to rise after German industrial production; oil bounces as Libya’s largest oilfield is disrupted

Posted on August 7, 2017 at 3:23 pm GMT

As the economic calendar was lacking important data, the European session was quiet with the markets digesting the release of the German industrial production and the Halifax house price index, the only closely watched indicators of the day. Moreover, while investors were focused to catch any hints from the two-day OPEC/non-OPEC meeting launched today, energy prices initially edged higher before backtracking later in the day. The dollar was more or less steady against its rivals during European trading, with the [..]

Forex Market Review (Asian Session) – Dollar in doldrums ahead of NFP data; most other majors and gold firm up

Posted on August 4, 2017 at 7:14 am GMT

The greenback had yet another setback overnight ahead of the eagerly-anticipated non-farm payrolls data out today. Following yesterday’s disappointing ISM non-manufacturing PMI, the dollar slid on an alleged grand jury issuance of subpoenas about a June 2016 meeting President Trump’s son and his son-in-law held with a Russian lawyer. The dollar index weakened about a tenth-of-a-percent to last trade at 92.74. In Asia, forex markets had a mixed reaction against the dollar. The yen and the aussie firmed up against the greenback, [..]

Forex Market Review (Asian Session) – Sterling gains ahead of BOE, Trump approves Russia sanctions, US-China trade at risk

Posted on August 3, 2017 at 7:41 am GMT

Markets have been relatively quiet during the Asian session with only a couple of notable economic data releases, which haven’t caused significant moves in the forex market. Looking ahead, the key event of the day will be Bank of England Governor Mark Carney’s speech and the central bank’s decision on interest rates. Out of Asia, China’s Caixin services PMI and Australia’s balance of trade were the two main economic releases. The services PMI inched down to 51.5 in July from [..]

Forex Market Review (European Session) – Sterling at fresh 10½-month high ahead of BoE; dollar close to 15-month lows

Posted on August 2, 2017 at 3:04 pm GMT

Today’s European session was a rather quiet one in terms of data, with forex market participants focusing on the number of jobs added by the US private sector in the preceding month, July construction PMI numbers for the UK and June eurozone producer prices. The dollar remained close to the multi-month lows from previous sessions. In the US, the ADP report showed private employers adding 178,000 positions in the economy during July. This negatively compares to expectations for 185,000 additions, [..]

Investment Theme – Weakening dollar helps US exporters; lack of Trump reforms disappoints domestic-orientated firms

Posted on August 2, 2017 at 9:34 am GMT

US companies with large revenue exposure to exports could get a significant boost to their top-line amid the weakening dollar. At the same time, investors could start losing interest in companies that have a limited international footprint and are mostly focused on the US market as Trump-promised business reforms and fiscal stimulus get delayed. The percentage of S&P 500 companies’ sales from foreign countries was 43% in 2016, with the energy and technology services sectors topping the list. The US dollar fell following last week’s [..]

Forex Market Review (European Session) – Dollar weakness unfolds; sterling gains on manufacturing rebound

Posted on August 1, 2017 at 2:51 pm GMT

Today’s busy schedule of economic data releases kept forex traders active, following significant dollar moves last night. The US currency retraced some of the losses against most of its peers during the early European trading, but those gains were short lived as the greenback’s weakness unfolded ahead of the construction spending and PMI data releases. The European session kicked off with a set of PMIs out of the eurozone and its member countries, followed by the eurozone GDP figures for [..]

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