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Forex Market Review (European Session) – Dollar makes comeback on NFP gain; sterling slips on weak UK manufacturing

Posted on July 7, 2017 at 2:30 pm GMT

There was a great amount of important economic data releases today. In the US, the key focus was on the non-farm payrolls jobs report, while the unemployment rate and average earnings growth were also of significant interest. Disappointing UK industrial and manufacturing production for May have been dictating sterling movements during the European trading session. The much-anticipated jobs report today showed a gain of 222,000 jobs in the US economy for June, which followed a revised 152,000 expansion in May [..]

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Forex Market Review (Asian Session) – Yen falls on BoJ bond purchases; dollar gains ahead of jobs report

Posted on July 7, 2017 at 7:44 am GMT

During the Asian trading session, the yen fell against the dollar amid the latest Bank of Japan bond intervention. This helped the greenback reverse its losses against the yen following yesterday’s disappointing set of data out of the US. The focus of the day will be on the key jobs report to be released later in the day by the US Labor Department. The yen weakened against its major counterparts after the BoJ announced it was ready to purchase an [..]

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Forex Market Review (European Session) – Dollar falls ahead of Friday’s employment report as euro gains on ECB minutes

Posted on July 6, 2017 at 3:07 pm GMT

The US dollar lost significant ground against the euro in today’s forex action while it was also under pressure against the yen as sentiment towards the greenback turned negative ahead of Friday’s employment numbers. In Europe, German factory orders for May grew by 1% month-on-month, while analysts had been expecting a 2% increase.  During April, factory orders had fallen by 2.2%.  In the monetary policy meeting accounts of the European Central Bank, there was a discussion whether the pledge to [..]

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Technical Analysis – Gold bearish bias below the cloud; neutral medium-term outlook

Posted on July 6, 2017 at 9:13 am GMT

Gold has been in a downtrend since early June. The precious metal currently trades below the Ichimoku cloud while it hit a near two-month low of 1217.33 in yesterday’s trading. Turning to the Ichimoku analysis, the negative alignment when the Tenkan-sen line (red) crossed below the Kijun-sen line (blue) in late June is still in place. This negative short-term signal is also supported by the MACD. Specifically, the indicator is below zero, as well as below its red signal line. [..]

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Forex Market Review (Asian Session) – Fed split opinions weaken dollar short-term; euro under pressure

Posted on July 6, 2017 at 7:42 am GMT

The US dollar had weakened against the yen during the early Asian trading session on the mixed tone from the minutes of the Fed’s latest meeting. However, the greenback gathered strength as the yen gave up gains ahead of the European open. Australia’s trade surplus lent some short-lived gains to the aussie. Minutes from the Fed’s latest meeting in June, at which the US central bank voted to raise interest rates, showed an absence of consensus about when to start the [..]

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Forex Market Review (European Session) – Dollar continues rally ahead of Fed minutes and Friday’s jobs report; oil plummets

Posted on July 5, 2017 at 2:29 pm GMT

The US dollar put in a strong performance in post-July 4th trading ahead of key data releases tomorrow and Friday and as traders eagerly expected the minutes from the latest Fed meeting. Euro/dollar dropped to as low as 1.1311 during Wednesday’s European trading while dollar/yen rose to as high as 113.67 in a broad move higher for the greenback.  The dollar index reached a 1-week high of 96.23 and thereby recovered some of the losses it suffered the previous week.  [..]

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Forex Market Review (Asian Session) – US dollar steady ahead of Fed minutes; euro, sterling modestly up

Posted on July 5, 2017 at 7:56 am GMT

Following yesterday’s low trading activity during the US session amid the 4th of July holiday in the US, not much data has been released during today’s Asian session either. Both, the euro and sterling modestly gained against the dollar. Looking at commodities, both oil prices and gold were up. The Australian dollar retraced some of yesterday’s losses, last trading at $0.7614, after tumbling on Tuesday as a result of the Reserve Bank of Australia’s decision to maintain a neutral policy [..]

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