DXY

Forex News – US economic growth slows less than expected; labor market on positive path; dollar near 9-month lows

Posted on June 29, 2017 at 2:57 pm GMT

The final GDP figures for the first quarter of the year as well as initial jobless claims for the week ending June 24 were the main data releases out of the US today. The GDP numbers surprised to the upside, whereas jobless claims were slightly worse than expected. Nevertheless, the number of claims still points to a healthy labor market. Looking at the actual GDP numbers, the US economy expanded by 1.4% on an annualized basis in the first quarter [..]

Forex Market Review (European Session) – US GDP lends dollar a temporary lift; euro’s strength unfolds

Posted on June 29, 2017 at 2:41 pm GMT

As the European trading session was coming to a close, the forex market reacted to a string of data releases. The dollar was helped by a positive revision of the first-quarter US GDP, though the gains didn’t last long. Upbeat data out of the eurozone helped the euro maintain its positive trend. The US economy grew at a better pace than initially estimated in the first quarter on the higher consumer spending and a jump in exports. The first quarter [..]

Investment Theme – Tale of two continents as dollar heads for a chill summer and sun may shine on euro

Posted on June 29, 2017 at 11:55 am GMT

The dollar weakening might further unfold in the coming months amid the latest economic and political concerns. Investors’ are increasingly worried that many of the promises President Trump made during his presidential campaign will not be materialized. The greenback has fallen 4% against the yen since the beginning of the year, while the dollar index is down 6%. The assurances of big tax cuts, massive infrastructure spending and deregulation that President Donald Trump gave during his presidential campaign are being questioned after [..]

FX Daily Outlook | 29-06-17

Posted on June 29, 2017 at 8:26 am GMT

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Forex Market Review (Asian Session) – Dollar index hits 9-month low; other majors strengthen on hawkish central bankers

Posted on June 29, 2017 at 7:49 am GMT

The dollar index, a broad measure of the greenback’s strength, hit a nine-month low, as other major currencies strengthened on the back of their central banks preparing to scale back the accommodative monetary policies. While yesterday’s forex trading session was mostly dominated by central bankers’ speeches, whose comments drove most of today’s Asian session, the rest of the trading day will likely be commanded by a heavy flow of data releases out of both the eurozone and the US. The [..]

Forex Market Review (European Session) – Euro hits one-year high; sterling jumps on Carney; dollar posts 7-month low

Posted on June 28, 2017 at 3:18 pm GMT

The euro picked up from yesterday’s gains as today’s European session got underway. Its advance was temporarily halted though after anonymous sources out of the European Central Bank made reference to markets overinterpreting the ECB President Mario Draghi’s comments the day before. Investors were also paying close attention to the ECB’s forum in Sintra, Portugal, as major central bank heads, including Bank of England Governor Mark Carney, were participating in a panel discussion. Some remarks by Carney led sterling post [..]

FX Daily Outlook | 28-06-17

Posted on June 28, 2017 at 8:36 am GMT

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Forex Market Review (Asian Session) – Euro maintains strong momentum; dollar pressured on healthcare bill

Posted on June 28, 2017 at 7:59 am GMT

In a quiet data day for many Asian countries, the forex market continued to ride on yesterday’s wave of several key events and speeches during the Asian trading session. The euro continued to build on its positive momentum against the dollar, following European Central Bank President’s bullish take on the eurozone economy. The dollar had a setback against the yen amid the postponed voting on the healthcare bill in the US Senate. The euro maintained its upward trend against the [..]

Forex Market Review (European Session) – Dollar falls on durable goods miss; sterling boosted on DUP deal; gold declines

Posted on June 26, 2017 at 3:05 pm GMT

The main economic releases during today’s European session pertained to durable goods orders out of the US and the Ifo business sentiment survey out of Germany. Beyond these, gold experienced a considerable decline and sterling received a boost after UK Prime Minister struck a deal with Northern Ireland’s Democratic Unionist Party which would support her minority government. In US economic releases, durable goods orders fell by 1.1% in May. This negatively compares to the 0.6% drop expected and exceeds April’s [..]

Forex Market Review (European Session) – Loonie suffers on inflation; dollar down; sterling maintains positive momentum

Posted on June 23, 2017 at 2:56 pm GMT

Among the highlights in today’s European session were flash Markit PMI estimates out of the eurozone and the US, Canadian inflation figures and US new home sales data. Beyond economic releases, the pound maintained yesterday’s momentum on rising expectations of a rate hike by the Bank of England. Flash eurozone PMI numbers for the month of June showed the manufacturing sector performing strongly and the services sector surprising to the downside. Specifically, the manufacturing PMI number came in at the [..]

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