DXY

Forex Market Review (European Session) – Dollar tumbles to 7-month low versus euro after big NFP miss; gold surges

Posted on June 2, 2017 at 3:03 pm GMT

Most major pairs were mostly range-bound until the big moves after the all-important US non-farm payrolls report. Despite a drop in the unemployment rate to a 16-year low of 4.3%, this was not enough to make up for the huge miss in the non-farm payroll number, causing a big tumble in the dollar. During the month of May, a mere 138,000 new jobs were added to the US economy, versus an expected 185,000. Adding to the disappointing headline number, the [..]

Technical Analysis – Dollar index maintains downtrend

Posted on June 2, 2017 at 8:26 am GMT

The dollar index has stalled its downtrend that started from the January 3 high of 103.81. A small range has formed between 96.67 and 97.62 since May 22. The RSI oscillator is moving sideways, which is indicative of a consolidation phase currently forming in the near term. But in the bigger picture, the medium-term trend is to the downside as the market has been making lower highs and lower lows since January. The market is trading below the 200-day moving [..]

FX Daily Outlook | 29-05-17

Posted on May 29, 2017 at 8:11 am GMT

[..]

Investment Theme – Fed rate hike path supports broader trend of dollar strength

Posted on May 25, 2017 at 2:48 pm GMT

The minutes of the Federal Reserve’s May policy meeting that were released on Wednesday indicated that the US central bank remained on track for more rate increases this year. Most FOMC members thought it was appropriate to hike soon. This was interpreted as meaning a move by the Fed could come as early as the June policy meeting. While this should be positive for the dollar, the market reaction was to sell off the greenback and US Treasury yields fell [..]

Forex Market Review (Asian Session) – Dollar lags after Fed minutes; loonie hits new month high; oil gains ahead of OPEC

Posted on May 25, 2017 at 7:26 am GMT

The US dollar was heavy after the FOMC minutes, while the Canadian dollar outperformed across the board on an upbeat Bank of Canada. Oil prices extended gains ahead of the OPEC meeting in Vienna today. The minutes from the Fed’s May policy meeting showed some caution, despite most FOMC members indicating that another interest rate increase would be appropriate soon. The probability of a rate hike at the June FOMC meeting remains quite high – above 80% – but the [..]

Forex Market Review (Asian Session) – Aussie weakens after China downgrade; oil rises ahead of OPEC

Posted on May 24, 2017 at 7:49 am GMT

The aussie reacted negatively to Moody’s downgrade of China’s rating to A1 from Aa3, amid concerns over rising debt and slowing economic growth. China is a major trading partner for Australia and so the news had the most impact on the currency which fell over 0.5% against the greenback to reach $0.7441 during the Asian session, reversing a three-day advance. Disappointing Australian construction data also weighed on the aussie. The US dollar bounced back and pulled away from recent lows of more [..]

Forex Market Review (European Session) – Pound hits 2-month low versus euro amid strong Eurozone data and Manchester blast; loonie at 1-month high

Posted on May 23, 2017 at 2:54 pm GMT

The euro held near six-month highs against the dollar after strong Eurozone PMI data. Sterling remained under pressure due to the events in Manchester and following disappointing data related to the UK retail sector. The US dollar was flat against a basket of major currencies. The loonie hit a one-month high. The euro gained on the back of strong Eurozone and German PMI data, providing encouraging news for the European Central Bank which is expected to start unwinding its unprecedented [..]

Forex Market Review (Asian Session) – Dollar extends losses on US political concerns; euro rises to $1.11

Posted on May 17, 2017 at 7:40 am GMT

The main focus of the markets in Asia today was on US political concerns as President Donald Trump continued to create controversy. Risk aversion led to a stronger safe haven yen while gold also benefitted from a weaker dollar. The euro rose to a fresh six-month high. A recent batch of soft US economic data has raised doubts about whether the Federal Reserve will raise interest rates at its upcoming meeting in June, as was much hoped for by the [..]

Forex Market Review (Asian Session) – Aussie extends losses to 4-month low after weak retail sales; greenback rallies versus yen

Posted on May 9, 2017 at 7:39 am GMT

The aussie slid to a fresh four-month low against the greenback during today’s Asian session after disappointing Australian retail sales numbers, which unexpectedly declined by 0.1% month-on-month in March, compared to a downwardly revised 0.2% drop in February and missed estimates of a 0.3% increase. The Australian dollar fell to as low as $0.7334. The data will not likely change expectations that the RBA will keep interest rates steady for months to come. Australia’s federal budget will be released later [..]

Forex News – Fed March rate hike hopes overshadow Trump speech

Posted on March 1, 2017 at 3:58 pm GMT

US President Donald Trump’s first speech to Congress late on Tuesday in Washington DC left markets a little disappointed with respect to details on tax policy and infrastructure spending. Many expected it to be a speech in which the President would finally outline in detail his much-hyped economic plans but the only concrete economic policy mentioned was the $1 trillion infrastructure plan which would include both private and public funding, and would stress both ‘Buy American’ and ‘Hire American’. Trump [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms