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Forex Market Review (Asian Session) – Dollar drops on news of FBI Director dismissal

Posted on May 10, 2017 at 7:46 am GMT

The dollar was weaker during the Asian session after slipping on news that US President Donald Trump fired FBI Director James Comey. The yen was stronger due to geopolitical concerns and talk of another nuclear test by North Korea. Market jitters appeared to ease slightly as the European session opened. Trump’s decision to dismiss Comey put investors on edge, causing the dollar to trim earlier gains when it had hit its highest level against the yen in almost two months [..]

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Forex Market Review (European Session) – Dollar hits 8-week high versus yen, boosted by strong JOLTS data; aussie falls further after budget

Posted on May 9, 2017 at 3:01 pm GMT

The Australian dollar and the yen were some of the worst-performing major currencies today on improving risk appetite in the markets.  The US dollar gained for a second day relative to a basket of major currencies on rising expectations for a June Fed rate hike and solid JOLTS data. The greenback rose for the third day against the yen to hit an eight-week high of 114.21 yen during the European session. Rising US bond yields have had an impact on [..]

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Forex Market Review (Asian Session) – Aussie extends losses to 4-month low after weak retail sales; greenback rallies versus yen

Posted on May 9, 2017 at 7:39 am GMT

The aussie slid to a fresh four-month low against the greenback during today’s Asian session after disappointing Australian retail sales numbers, which unexpectedly declined by 0.1% month-on-month in March, compared to a downwardly revised 0.2% drop in February and missed estimates of a 0.3% increase. The Australian dollar fell to as low as $0.7334. The data will not likely change expectations that the RBA will keep interest rates steady for months to come. Australia’s federal budget will be released later [..]

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Forex Market Review (Asian Session) – Euro jumps on French elections results, hits one-year high versus yen

Posted on May 8, 2017 at 7:55 am GMT

The results of the French presidential elections provided a boost for risk assets as the Emmanuel Macron victory provided more certainty for the markets, versus a Marine Le Pen win. The euro strengthened against most major counterparts and hit a six-month high against the US dollar, as Macron’s margin of victory was far greater than expected. The euro jumped in a knee-jerk reaction when markets opened today and rose above the $1.1000 level for first time since November, although gains [..]

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Forex Market Review (European Session) – Dollar at 113-yen after jobless claims before easing; strong Eurozone and UK PMI data

Posted on May 4, 2017 at 3:08 pm GMT

Plenty of data hit the markets today, including weekly jobless claims out of the US and April services PMI data for the UK and Eurozone, which also saw the release of final composite PMI figures for the same month. The dollar, as gauged by the dollar index, was down two-tenths of a percent in late European session trading with dollar / yen close to the day’s open of 112.73. Out of the US, last week’s jobless claims fell by 19,000 [..]

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Forex Market Review (Asian Session) – Aussie falls to four-month low; US dollar hits six-week high versus yen after FOMC; gold tumbles

Posted on May 4, 2017 at 7:32 am GMT

The dollar was firmer today and held onto gains after rallying to a six-week high against the yen on a hawkish Federal Reserve yesterday. The FOMC unanimously decided to leave interest rates unchanged but signaled that the recent disappointing US economic data would not derail plans for further rate hikes this year. The Fed indicated that it saw the slowdown in first quarter growth as transitory. The markets reacted positively to the FOMC statement and are still pricing in a [..]

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