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European Session – Dollar mixed ahead of US long weekend; Pound hit by weak retail sales data

Posted on February 17, 2017 at 3:07 pm GMT

Risk appetite faded on the week’s last trading day as political uncertainty in Europe and the US weighed on investor sentiment. The US dollar was mixed in today’s European session as it fell against the yen but moved higher against most other majors, in particular the euro and the pound. This made the yen the best performing currency of the day as it benefited from its safe haven status. The dollar index, which gauges the greenback’s strength against the currencies [..]

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Mid-European Session – Euro and pound edge higher as dollar runs out of steam

Posted on February 16, 2017 at 12:55 pm GMT

Rising expectations of a near-term rate hike by the Fed were unable to reverse the US dollar’s slide in European trading on Thursday. The US currency extended its Asian session losses to hit a low of 113.53 yen in mid-European trading. The declines were mainly triggered by profit taking following a two-week rally for the greenback since the start of the month. The dollar had hit a 2½-week high versus the yen yesterday, while the dollar index rose to 5-week [..]

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European Session – Dollar surges above 113 yen on Trump tax comments

Posted on February 9, 2017 at 4:05 pm GMT

The yen fell back on Thursday as yesterday’s risk aversion ebbed slightly, although the recent uncertainty generated from Trump’s policies, the French elections and Brexit continued to weigh on market sentiment. The US dollar recovered from its earlier low of 111.70 yen to hit a European session high of 113.19 yen following the release of stronger-than-expected jobless claims out of the US and an announcement on taxes by the US President. Weekly jobless claims fell to a fresh 43-year low [..]

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Technical Analysis – WTI Oil Futures still consolidating; holds onto bullish outlook

Posted on February 9, 2017 at 1:01 pm GMT

WTI oil futures have moved back above the 50-day moving average today after falling below it on Tuesday for the first time since November. However, despite two days of gains, RSI has only recovered to just above the 50 level that separates bullish from bearish territory. The near-term bias is therefore neutral as prices continue their 2-month-long consolidation. If today’s upside momentum holds, prices will likely meet resistance around the 53.85 level, which has been acting as a key resistance [..]

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European Session – Euro and pound firmer as dollar slips back below 112 yen

Posted on February 8, 2017 at 4:08 pm GMT

Markets remained mired in risk-off mood in Wednesday’s European session as global uncertainty regarding Trump’s presidency, European elections, Brexit and the Greek debt crisis all weighed on risk sentiment. The US dollar found itself back below 112 yen as the Japanese currency benefited from safe-haven demand and the yields on US Treasury Notes fell. The greenback was struggling around 111.90 yen in late European session in the absence of any major data release out of the US today. The euro [..]

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European Session – Euro under pressure on French election concerns; Dollar stays mixed after NFP

Posted on February 6, 2017 at 4:03 pm GMT

The euro came under pressure on Monday as French election jitters led to a sell-off in French government bonds while the dollar was struggling for direction following Friday’s non-farm payrolls report. Uncertainty about the French election unsettled investors in European trading today as pressure grew on France’s conservative presidential candidate, Francois Fillon, to quit the race. It follows allegations that his wife was paid by the state for work she never did and comes amid ongoing strong support for the [..]

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European Session – Pound fluctuates on Supreme Court ruling; Loonie jumps on pipeline deal

Posted on January 24, 2017 at 4:42 pm GMT

The pound see-sawed in today’s European session as the British currency saw volatility both before and after the Supreme Court’s ruling on the triggering of Article 50. The US dollar recovered from earlier lows, while the Canadian dollar surged after Donald Trump approved the construction of a major pipeline from Canada to the United States. The greenback struggled for upwards momentum on Tuesday as it attempted to move away from multi-week lows. The dollar index pared most of its losses [..]

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