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European Open Preview – Dollar rises with trade developments front and center

Posted on August 20, 2018 at 8:06 am GMT

Here are the latest developments in global markets: FOREX: The dollar was up by a bit less than 0.2% versus a basket of currencies on Monday. In the absence of major data releases, any updates on the Sino-US trade relationship, as well as any Turkey-related developments may act as the catalysts to steer the currency in either direction. STOCKS: The Dow Jones, S&P 500 and Nasdaq Composite finished Friday’s trading up by 0.4%, 0.3% and 0.1% respectively, with hopes for a more [..]

European Open Preview – Risk appetite recovers amid trade optimism; Canadian inflation eyed

Posted on August 17, 2018 at 7:36 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is lower by a modest 0.11% on Friday, extending some of the losses it recorded in the previous session, pressured by a recovery in broader risk sentiment. Likewise, the Japanese yen retreated across the board yesterday as well. Meanwhile, the British pound still hovers near its recent multi-month lows, largely unable to draw support from strong UK data yesterday, as the uncertainty stemming from the Brexit negotiations is casting [..]

European Open Preview – Hopes for US-China trade negotiations boost sentiment; Brexit talks and key data on the agenda

Posted on August 16, 2018 at 7:46 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is lower by a little over 0.2% on Thursday, pulling back after touching a new 13-month high in the previous session, aided by risk aversion and encouraging US retail sales prints. The Japanese yen is also on the retreat, after news that the US and China will hold another round of trade talks in late August curbed demand for haven assets. STOCKS: Wall Street closed in the red on Wednesday, as [..]

US Open Preview – Pound finds support as UK unemployment rate declines; Australian wage growth in focus

Posted on August 14, 2018 at 11:33 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index, which measures the dollar’s strength against six major currencies, declined by 0.13%, while dollar/yen inched up by 0.23%, trading near the 111.00 psychological level. Euro/dollar started the day in the green but quickly dropped its gains and is down by 0.07% on the day despite an unexpected upward revision in Eurozone Q2 GDP growth estimates. Pound/dollar managed to rebound after the UK’s unemployment rate surprisingly fell to 4.0%, while analysts anticipated the rate to stand [..]

European Open Preview – Risk aversion fades as Turkey jitters take back seat; UK employment data in focus

Posted on August 14, 2018 at 7:40 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is nearly 0.2% lower on Tuesday, looking set to extend the modest losses it recorded yesterday. The safe-haven Japanese yen is also on the back foot, as the risk-aversion emanating from Turkey subsided somewhat, for now at least. Conversely, the euro and pound are a little higher, attempting to recover some of their latest losses. The Turkish lira – which has been at the epicenter of attention lately – [..]

US Open Preview – Euro holds at 13-month lows despite Turkish central bank measures; Chinese industrial production in focus

Posted on August 13, 2018 at 11:55 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index was little changed on Monday (+0.07%), while dollar/yen headed lower by 0.50%, completing a six-week low at 110.10 as political tensions between the US and Turkey enhanced interest for safer assets. Euro/dollar remained negative, last seen at 1.1385 (-0.23%) after it opened with a gap down today following Friday’s strong sell-off. The pair posted a 13-month trough as a slide in the Turkish lira sparked fears that Turkish borrowers could fail to submit loan payments [..]

Week Ahead – Pound looks to UK data to halt slide; US retail sales and Aussie jobs coming up too

Posted on August 10, 2018 at 12:51 pm GMT

Economic releases will heat up in the coming week with monthly data on inflation, employment and retail sales certain to keep some traders busy as many head off for their summer holidays. Central bank meetings will take a backseat, though the week will not be totally absent of policy announcements as the Norges Bank meets to decide on rates. Australian employment in focus for the aussie The Australian dollar hit its lowest since January 2017 of 0.7278 this past week, [..]

US Open Preview – Euro struggles at 1-year lows amid political noise; US CPI inflation next in focus

Posted on August 10, 2018 at 11:32 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index, which measures the dollar’s strength against a basket of six major currencies, headed higher by 0.55% on Friday, while dollar/yen fell by 0.08% below the 111.00 handle as demand for safe havens and upbeat Japanese flash Q2 GDP growth figures provided support to the yen. The euro dropped to the weakest level in a year, probably on the ECB’s concerns that the plunge in the Turkish lira could expose Eurozone [..]

US Open Preview – Dollar holds moderate gains versus yen before Japan’s flash GDP growth release

Posted on August 9, 2018 at 11:37 am GMT

Here are the latest developments in global markets: FOREX: Sterling managed to rebound against the US dollar on Thursday, after it touched its lowest level in almost a year (+0.08%) on the back of growing worries of a no-deal Brexit, while euro/pound fell by 0.15%, dropping back below the 11-month high it posted earlier and the 0.90 handle. The rise in the pound occurred after a report stated that EU members are considering a Brexit deal that would allow the UK to remain in the single market for goods. [..]

European Open Preview – Kiwi plummets on dovish RBNZ; US PPI and US-Japan trade meeting on the horizon

Posted on August 9, 2018 at 7:35 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is marginally higher on Thursday, after posting some relatively small losses (-0.13%) in the previous session. Meanwhile, the kiwi collapsed overnight, falling by nearly 1.4% against the dollar, after the RBNZ pushed further back the anticipated timing of its first planned rate increase and reiterated that a rate cut remains on the table. The British pound struggled as well, touching fresh multi-month lows against its major peers as speculation [..]

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