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Forex Market Review (European Session) – Dollar at fresh 10-month low; sterling hurt by weaker-than-expected inflation

Posted on July 18, 2017 at 3:04 pm GMT

In terms of economic releases, UK inflation numbers were by far the most important release during today’s European session. The downside miss hurt sterling which posted a ten-month high versus the dollar earlier in the session. In other news, the currency markets were once again anything but deaf to political developments, pushing the dollar to new lows on the seeming inability by the Trump administration to repeal and replace Obamacare. The dollar index, a broader gauge of the US currency’s [..]

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Forex Market Review (Asian Session) – Dollar pressured against all majors; RBA minutes push aussie to 2-year high

Posted on July 18, 2017 at 7:37 am GMT

As the Asian trading session was about to close, the US dollar was trending downward against most currencies on overnight news that the repeal of Obamacare is getting another push-back. The aussie rose following the release of the Reserve Bank of Australia’s minutes and the kiwi had a short tumble on the disappointing inflation figures. The greenback tumbled against most currencies overnight on news that two more Republican Senators would oppose the healthcare reform bill unveiled by their party last [..]

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Forex Market Review (European Session) – Loonie hits fresh 14-month high; dollar steady after Friday sell-off

Posted on July 17, 2017 at 2:52 pm GMT

There was limited price action today as investors remained sidelined ahead of three big events this week. Major currencies mostly traded in tight ranges during the European session, while in the absence of major economic releases, the market focus has been on the start of the second round of the Brexit negotiations, the European Central Bank and the Bank of Japan meetings on Thursday. The greenback managed to slightly recoup against most majors following the sell-off on Friday amid the disappointing [..]

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Forex Market Review (European Session) – Dollar tumbles on disappointing inflation; Kuwait’s OPEC governor boosts oil

Posted on July 14, 2017 at 2:51 pm GMT

The dollar tumbled against all majors after a set of disappointing US data releases. The dollar index fell to a fresh 10-month low of 95.25 immediately following the release. The weaker dollar boosted other majors as well as gold. Both US CPI and retail sales numbers for June came in short of expectations, pushing the dollar to 112.38 yen from 113.04. Headline CPI was weaker than estimated at 0.1% month-on-month in June, mirroring the prior increase of 0.1%. It was [..]

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Forex Market Review (Asian Session) – Dollar steady ahead of key inflation release; euro, sterling gain

Posted on July 14, 2017 at 7:53 am GMT

The US dollar was steady against the yen during the Asian session, but weakened against most other majors. The key inflation data out of the US could potentially dictate today’s biggest forex market moves. The euro and the pound were both up, while oil came under some pressure ahead of the European open. The dollar steadied against the yen, helped by upbeat US economic data, after earlier weakness due to a dovish-perceived testimony by Federal Reserve Chair Janet Yellen to [..]

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Technical Analysis – Gold not far above 1,200; remains neutral in the medium-term

Posted on July 14, 2017 at 6:55 am GMT

Gold has lost significant ground since the eight-month high of 1,295.97 it reached on June 6th. The precious metal currently trades not far above the 1,200 level. The MACD indicator is painting a bearish picture. Specifically, the MACD is negative as well as below its red signal line. Despite the bearish bias, momentum in the very short-term seems to be to the upside as indicated by the stochastics. In particular, the %K line maintains a steep positive slope, while it [..]

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Forex Market Review (European Session) – Dollar firms up against yen; sterling gains; oil and gold up

Posted on July 13, 2017 at 3:02 pm GMT

The dollar gained against the yen ahead of the US session, supported by encouraging data releases, and continued strengthening as Federal Reserve Chair Janet Yellen started her second-day testimony to Congress. The dollar index, a broad measure of the greenback’s strength, was up 0.07% towards the end of the European session. The number of people seeking unemployment benefits fell last week, confirming labor market strength in the US. Initial claims for state unemployment benefits declined by 3,000 to 247,000 for the [..]

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