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Eurozone PMIs forecast to ease but still point to solid growth – Forex News Preview

Posted on February 20, 2018 at 3:03 pm GMT

Markit’s eurozone flash PMI data for the month of February for the manufacturing and services sectors are due on Wednesday at 0900 GMT. The figures are expected to slightly ease relative to January, though still remain comfortably in expansion territory above 50 and continue to support the view that growth in the euro area is picking up steam. February’s flash manufacturing, services and composite PMIs are anticipated at 59.3, 57.6 and 58.5 respectively. These compare to January’s respective figures of [..]

US Open Preview – Dollar extends rally as US issues new debt; European stocks mixed

Posted on February 20, 2018 at 12:34 pm GMT

Here are the latest developments in global markets: FOREX: The dollar continued to stretch higher, breaking slightly above the 107 key-level versus the yen (+0.51%) and rising towards 89.67 (+0.65%) against a basket of major currencies. Despite risks remaining in the background, including a ballooning US budget deficit and potential policy tightening by other central banks which might attempt to play catch up with the Fed, the dollar finally found support from rising US Treasury yields. Pound/dollar jumped above 1.40 to touch an intra-day high of 1.4014 on the news that the EU parliament [..]

European Open Preview – Dollar bounces from 3-year lows; business surveys and dairy auction due

Posted on February 20, 2018 at 8:53 am GMT

Here are the latest developments in global markets: FOREX: The dollar index traded 0.4% higher on Tuesday, drawing some support from an uptick in the yields of longer-dated US Treasuries. The index rebounded on Friday after touching a fresh 3-year low, and has continued recovering since. STOCKS: US markets remained closed yesterday in celebration of the President’s Day holiday. Earlier on Friday, the S&P 500 and the Dow Jones closed marginally higher, though the Nasdaq Composite fell 0.2%. Moreover, futures tracking the S&P, [..]

Japanese trade data due as yen strength gets into focus – Forex News Preview

Posted on February 16, 2018 at 3:31 pm GMT

Japanese trade data for the month of January are scheduled for release on Sunday at 2350 GMT. Exports are projected to grow for the 14th consecutive month on a yearly basis and imports for the 13th. Yen pairs will be gathering attention as the data go public, though – especially as of late – those have been sensitive to other factors which are at play at the moment, rather than to economic releases out of Japan. Exports are forecast to [..]

US Open Preview – Dollar trapped in negative sentiment; European stocks set for weekly gains

Posted on February 16, 2018 at 12:30 pm GMT

Here are the latest developments in global markets: FOREX: Despite rising US Treasury yields, the dollar was under pressure against its major peers, with traders attributing the phenomenon to concerns surrounding a potential ballooning US debt and the expectations that other central banks could start raising rates amid higher inflation prospects. Dollar/yen tumbled to a fresh one-year low of 105.54 during the Asian session before it inched up to 106.17 (-0.04%) in early European trading. The dollar index was struggling to [..]

European Open Preview – Dollar sinks to 3-year low; UK retail sales eyed

Posted on February 16, 2018 at 8:43 am GMT

Here are the latest developments in global markets: FOREX: The dollar index traded almost 0.3% lower on Friday, adding to the losses it posted yesterday and recording a new three-year low. The continued slide in the world’s reverse currency managed to push euro/dollar to 1.2555 overnight, marking a fresh high last seen in 2014 for the pair. Meanwhile, dollar/yen posted a new 15-month low. STOCKS: US equity indices continued to recover yesterday, amplifying expectations that the recent turbulence may be gradually [..]

European Open Preview – Dollar slides while stocks climb; jobless claims and IP gathering attention in the US

Posted on February 15, 2018 at 8:56 am GMT

Here are the latest developments in global markets: FOREX: The dollar index fell 0.4% on Thursday, extending the significant losses it posted on Wednesday in the aftermath of the US CPI and retail sales data. STOCKS: US markets finished the day notably higher yesterday, erasing earlier losses, despite the stronger-than-anticipated US inflation prints for January. The Nasdaq Composite led the charge, gaining almost 1.9%, while the S&P 500 followed in its tracks, closing 1.3% higher. The Dow Jones climbed 1.0%. Moreover, futures [..]

US Open Preview – Dollar struggles ahead of US CPI; European stocks bounce up

Posted on February 14, 2018 at 12:30 pm GMT

Here are the latest developments in global markets: FOREX: The dollar was struggling to pare today’s losses, after touching a more than a year-low of 106.83 versus the yen and reaching a one-week-low of 89.37 against a basket of major currencies earlier today. Dollar/yen crawled slowly up to 107.47 (-0.36%) and the dollar index recovered modestly towards 89.65 (-0.06%) ahead of the US CPI figures which have the potential to shake the currency. Meanwhile, the Japanese government argued during the [..]

European Open Preview – Dollar and stocks await directional clues from US inflation

Posted on February 14, 2018 at 8:26 am GMT

Here are the latest developments in global markets: FOREX: The dollar index traded 0.2% lower on Wednesday, ahead of key US inflation and retail sales data releases that could determine the currency’s short-term direction. STOCKS: US markets closed with modest gains on Tuesday, with investors appearing hesitant to take up large positions ahead of the US inflation data today, which could determine whether the recent turmoil will intensify or subside. The Nasdaq Composite was the leader of the pack, rising by [..]

US Open Preview – Dollar slips on banana peel as safe-havens cheer; European stocks lose ground

Posted on February 13, 2018 at 12:18 pm GMT

Here are the latest developments in global markets: FOREX: In currency markets, stronger-than-expected inflation figures in the UK justified the Bank of England’s potential plans to raise interest rates faster than expected, pushing pound/dollar towards a four-day high of 1.3923 (+0.49%). Pound/yen, though, recovered slightly to 149.62 but remained down on the day (-0.46%) as a rising yen weighed on the pair. Dollar/yen stretched down towards a new five-month trough of 107.41 (-0.97%) and dollar/swissie retreated to a one-week low of 0.9328 [..]

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