FX Daily Outlook | 22-05-17
Posted on May 22, 2017 at 8:49 am GMT[..]
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Markets were off to a calmer start this week after some recent volatility. Risk sentiment improved and the yen was steady despite news that North Korea conducted another missile test over the weekend. In terms of economic data released during the Asian session, Japan’s trade balance came to a surplus of 481.7 billion yen in April compared to an expected surplus of 521 billion yen and lower than the March’s 614.7 billion. Moves in the dollar / yen pair mostly [..]
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The US dollar is on course to end the week lower against most major counterparts after coming under pressure from US political concerns amid controversy concerning President Donald Trump. Safe haven assets like the yen and gold had a strong week. With a light economic calendar in Asia, markets digested the events of the past few days. The greenback’s decline against the yen was cushioned by some upbeat US economic data on Thursday which showed weekly initial jobless claims fell [..]
Sterling was one of the best performing major currencies, while the euro retreated from a fresh six-month high against the dollar. Oil prices moved lower and gold hit a new high for the month so far. The British pound rallied strongly against the dollar after a strong UK retail sales report today, which showed the biggest gain in sales since January 2016. Cable jumped above the key $1.30 level for the first time since September 2016 to hit $1.3046, while [..]
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The US dollar rebounded against its major counterparts today after having tumbled sharply in the past two days due to political turmoil surrounding US President Donald Trump. The aussie jumped on forecast-beating Australian jobs data, while the yen showed little reaction to stronger Japanese GDP numbers. The dollar index hovered near six-month lows below 98 points as investors feared that Trump’s latest controversies could lead to a delay in passing legislation on pro-growth policies and tax reforms. The dollar touched [..]
The US dollar remained under pressure in European trading on Wednesday as the political turmoil in the United States continued to dampen risk sentiment. The yen and the Swiss franc, along with gold, were the main winners from the risk aversion generated by the latest political uncertainty. The euro meanwhile held near its earlier highs and the pound also advanced higher versus the greenback. According to confirmed reports, a memo written by the then-FBI Director James Comey reveals President Donald [..]
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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 [..]
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