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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 [..]

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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 [..]

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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 [..]

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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 [..]

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Forex Market Review (European Session) – Draghi’s optimism lifts euro; dollar above 112 yen ahead of Yellen; sterling firms

Posted on June 27, 2017 at 3:00 pm GMT

The forex market was mostly driven by central bank speeches in today’s European session. The euro was boosted on the optimistic remarks by the European Central Bank President Mario Draghi. The pound advanced following the release of the Financial Stability Report and the speech by Bank of England Governor Mark Carney. The dollar firmed up on the strong consumer confidence data, as markets await Janet Yellen’s talk later today. The ECB President’s bullish stance on the recovery in the Eurozone [..]

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Forex Market Review (Asian Session) – Central bank speeches in focus; euro eases on Draghi; dollar awaits Yellen; gold recovers

Posted on June 27, 2017 at 7:59 am GMT

As the Asian markets were closing for the day, major currencies were mostly range-bound in a relatively quiet session due to few data releases and ahead some of the key events scheduled for later in the day. European Central Bank President Mario Draghi will speak shortly at the ECB Forum on Central Banking in Portugal. Bank of England Governor Mark Carney is scheduled to speak following the release of the BoE’s Financial Stability Report, while Federal Reserve Chair Janet Yellen will be speaking [..]

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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 [..]

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