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European Open Preview – Pound continues to impress; US tax bill vote, Canadian GDP & employment generating excitement

Posted on December 1, 2017 at 8:43 am GMT

Here are the latest developments in global markets: FOREX: The dollar retained its strength against the yen, trading near a 1-½ -week high, finding support from rising US Treasury yields, while the euro was last flat on a weekly basis versus the greenback after advancing in the three preceding weeks. Pound/dollar stretched its uptrend to a fresh two-month high amid hopes that the EU and the UK were preparing the ground to take Brexit talks to the next level, entering [..]

US Open Preview – Euro bears in charge; European stocks in green; eyes on US PCE inflation index & OPEC meeting

Posted on November 30, 2017 at 12:20 pm GMT

Here are the latest developments in global markets: Forex: The euro dived to a one-week low versus the dollar and approached a one-month low against the pound after flash inflation estimates out of the Eurozone inched below expectations in November, whereas the block’s unemployment rate ticked down, hitting fresh multi-year lows. Pound/dollar was on track to post a third straight green daily candle, while the kiwi was the worst performer amid weakening business sentiment. Stocks: European stocks were posting gains. The STOXX 600 index was 0.57% up, the German Dax [..]

European Open Preview – Pound shines on Brexit hopes; tech stocks decline; OPEC meeting, US & eurozone inflation take the stage

Posted on November 30, 2017 at 8:38 am GMT

Here are the latest developments in global markets: FOREX: The dollar was firmer against its major peers but headed for a monthly loss as a rising pound and a stronger euro capped gains arising from investors’ positive sentiment on the US economy despite ongoing geopolitical tensions in the Korean peninsula. Against the yen, the greenback hit a fresh one-week high, while it gained the most relative to the kiwi. STOCKS: The Nikkei 225 closed 0.6% higher and the Hang Seng [..]

Forex Market Review (European Session) – Dollar and pound march higher; euro extends declines

Posted on November 29, 2017 at 3:21 pm GMT

The US dollar and the British pound remained the day’s biggest winners in European trading on Wednesday on increased hopes of big tax cuts in the United States and the UK and the EU edging closer to a deal on the Brexit divorce terms. Most majors came under pressure from the stronger greenback, including the euro, which headed for a third straight day of losses, but the resurgent pound capped the dollar index’s gains. European equities headed higher after another [..]

Forex Market Review (European Session) – Dollar moves higher as US consumer confidence touches 17-year high; Irish worries ease

Posted on November 28, 2017 at 3:49 pm GMT

The day’s main release pertained to US consumer confidence figures released late in the session. Those came in at a multi-year high, creating a positive backdrop for the greenback for the remainder of the day. Beyond this, new Fed chief Jerome Powell appearing before US senators, US tax reform deliberations and developments that could affect the outcome of Brexit negotiations were also gathering attention. Powell’s confirmation hearing before the Senate Banking Committee has begun at 1500 GMT, with senators having [..]

Forex Market Review (European Session) – Dollar broadly weaker; sterling rises despite Brexit uncertainty; oil retreats

Posted on November 27, 2017 at 3:51 pm GMT

With US new home sales being the day’s major release during today’s session, upcoming developments, such as US tax reform deliberations and Brexit negotiations, were in forex market participants’ minds during today’s European session. Meanwhile, the yen was advancing on some softness in Asian and European equity markets. At 1523 GMT, the dollar index, which measures the greenback against the currencies of six major US trading partners, was 0.1% down at 92.74. The gauge finished lower in the three preceding [..]

Forex Market Review (Asian Session) – Dollar pressured by risk-off, looming Senate tax vote; Euro hits fresh 2-month high

Posted on November 27, 2017 at 8:51 am GMT

Asian markets had a poor start to the week as sentiment was dampened by sliding stocks in China and South Korea and uncertainty ahead of the Senate vote on the Republican’s tax plan later this week. Investors were also cautious ahead of a busy data week for the major economies. The yen was the biggest beneficiary of today’s risk aversion, rising against most of its major peers, while the US dollar wallowed at two-month lows against a basket of currencies. [..]

Forex Market Review (European Session) – Euro shines as SPD agrees to resume coalition talks; dollar sinks to two-month low

Posted on November 24, 2017 at 4:43 pm GMT

Euro bulls pushed the euro to a fresh two-month high during the European session after upbeat readings on German business climate improved sentiment on the Eurozone’s outlook and political risks in Germany eased. The dollar weakened even further amid a strengthening euro, while disappointing PMI readings added further losses to the currency. Business confidence in Germany reached new record highs in November, with the headline business climate index jumping by 0.9 points to 117.5 compared to the expected 116.6. Businesses also remained optimistic about their activities over the next [..]

Forex Market Review (Asian Session) – Euro strong on improved Eurozone sentiment; pound flat as May heads to Brussels

Posted on November 24, 2017 at 8:56 am GMT

With markets remaining partially closed on Friday for the Thanksgiving holiday week, the dollar was firmer in Asia, gaining on rising Treasury yields. In Japan, however, investors who also had a day off on Thursday, returned to their offices, pushing the yen lower as Japanese and Chinese stocks traded higher after a strong sell-off on Thursday. The dollar index, which gauges the dollar’s strength against six major currencies, rose slightly from two-month lows on Thursday to 93.19 as US Treasury yields inched up late on Thursday. However, concerns over [..]

Forex Market Review (European Session) – Euro boosted on upbeat PMI figures; dollar index records 6-week low

Posted on November 23, 2017 at 3:45 pm GMT

The euro was on the rise during today’s European trading relative to major other currencies as preliminary November eurozone PMI figures surprised to the upside. The greenback was on a negative footing after markets interpreted the Fed minutes from its latest meeting as being on the dovish side, while the Canadian dollar lost ground after retail sales out of the country came in below analysts’ projections. At 1525 GMT, the dollar’s index against a basket of currencies was 0.1% lower [..]

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