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Forex Market Review (Asian Session) – Oil remains close to 7-month lows; dollar little changed

Posted on June 21, 2017 at 7:35 am GMT

As Asian markets are completing their trading day, the dollar index has eased from yesterday’s one-month high but is still close to that level. In the meantime, WTI and Brent crude didn’t manage to post a rebound after yesterday’s sizable losses. The dollar index, a broader gauge of the greenback’s strength, remains close but below yesterday’s one-month high of 97.87. The greenback was recently supported by key Fed officials communicating that rate normalization should remain on track. Dollar/yen didn’t manage [..]

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Forex Market Review (Asian Session) – Dollar firms on hawkish Fed speakers; sterling in focus ahead of speeches by BoE Governor and UK Chancellor

Posted on June 20, 2017 at 7:32 am GMT

The US dollar was firmer on the back of hawkish comments from Federal Reserve officials. Sterling held onto Monday’s losses as all eyes turn to the mansion House speeches later by Bank of England Governor Mark Carney’s speech and UK Chancellor Philip Hammond. The aussie rose despite mixed RBA minutes. The greenback rose to a 3-week high against the yen at 111.76 as higher US Treasury yields helped lift the US currency. Comments from New York Fed President William Dudley [..]

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Forex Market Review (European Session) – Dollar boosted by hawkish comments from NY Fed President William Dudley; Brexit talks commence

Posted on June 19, 2017 at 3:04 pm GMT

The US dollar was one of the best performing major currencies after receiving a boost from some hawkish comments from New York Federal Reserve President William Dudley. Brexit negotiations are underway in Brussels, which has potential to create a risk event for the pound and the euro. A quiet economic calendar today resulted in relatively little movement in the forex markets. However, investors will remain focused on the Fed speakers this week in the aftermath of last week’s FOMC meeting. [..]

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Technical Analysis – Gold short-term bearish at 3-week low

Posted on June 19, 2017 at 10:38 am GMT

Gold continued declining in today’s trading, retracing more than 50% of the May 9 to June 6 upleg while extending the downtrend that started after the first week of June. Today’s down movement has led the precious metal to fall to the more than three-week low of 1249.13. The short-term sentiment as indicated by the RSI is negative as the indicator is in bearish territory below the 50 neutral-perceived threshold at 43. Moreover, RSI is currently downward sloping. The 50% [..]

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Forex Market Review (Asian Session) – Euro steady as Macron set to win legislative elections; sterling in focus as Brexit talks begin

Posted on June 19, 2017 at 7:19 am GMT

The euro was supported by news that French President Emmanuel Macron won a majority in Sunday’s legislative elections. Sterling was steady ahead of the start of Brexit talks in Brussels today. In terms of economic data, Japan had a surprise trade deficit in May. The overall trade balance was -203.4 billion yen last month, missing the 76.0 billion yen surplus expected and was below the prior 481.7 billion yen surplus. The yen weakened after the Japanese data. This helped the [..]

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Forex Market Review (European Session) – Dollar falls on weaker-than-expected housing starts, flat on the week

Posted on June 16, 2017 at 2:57 pm GMT

Comparing to yesterday’s European session, today’s was a rather quiet one. Remarks by the Bank of Japan Governor spurred the placing of certain positions by forex market participants early in the session. Data pertaining to Eurozone inflation, as well as releases on homebuilding activity and the University of Michigan’s survey on consumer expectations out of the US kept traders busy throughout the rest of the session. As the European trading day was beginning, the Bank of Japan Governor Haruhiko Kuroda [..]

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Forex Market Review (Asian Session) – Yen softer after BoJ makes no change to monetary policy or economic outlook; dollar holds onto post-FOMC gains

Posted on June 16, 2017 at 7:28 am GMT

The yen weakened after the Bank of Japan (BoJ) left monetary policy unchanged today while the US dollar remained firm after the Federal Reserve raised interest rates on Wednesday. The BoJ announced its decision to maintain its current monetary policy without making any tweaks, as was widely expected, since inflation in Japan is still very subdued. The main interest rate was kept at -0.1% and there was no change to its asset purchase program or yield curve control. Its economic [..]

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