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Forex Market Review (European Session) – Dollar strengthens after manufacturing PMI beat; pound hits three-week low as manufacturing industry slows

Posted on October 2, 2017 at 3:23 pm GMT

The dollar continued its rally during the European session and managed to peak at a two-week high against its major peers following upbeat manufacturing PMI releases, although a music festival in Las Vegas turned into the deadliest mass shooting in US history. However, gains from positive data were short-lived following dovish remarks by the Minneapolis Fed President Neel Kashkari. The UK manufacturing PMI numbers failed to provide support to the pound, which was one of the worst performing currencies relative to the dollar during the day, hitting [..]

Forex Market Review (Asian Session) – Euro dips into losses after violent Catalan independence vote; dollar gains

Posted on October 2, 2017 at 8:04 am GMT

With markets in China, South Korea, Hong Kong and India being closed for public holidays, the dollar managed to recover from earlier losses against its peers in Asia – helped by higher US Treasury yields – while the euro recorded a downtrend in the wake of a political crisis in Spain. The dollar posted gains versus a basket of major currencies during the Asian session on the back of higher US Treasury yields, with the dollar index rising by 0.40% on the day to 93.26. [..]

Forex Market Review (Asian Session) – Dollar steady as uncertainties on tax reforms weigh; focus on inflation

Posted on September 29, 2017 at 8:09 am GMT

On Friday, currencies in Asia were in a quiet trade, with the dollar moving sideways near yesterday’s lows as positive sentiment on Trump’s tax proposals was fading and investors were less certain on whether those would pass in Congress. However, the focus during the day will be on the US inflation readings which might affect the Fed’s views on future monetary policy if they come in as a surprise. Although the US tax cuts proposed by the Trump administration raised confidence initially on the country’s fiscal policy, investors were less [..]

Forex Market Review (Asian Session) – Dollar surges on Trump’s tax proposals; kiwi down after RBNZ releases monetary statement

Posted on September 28, 2017 at 8:06 am GMT

In a data-quiet session, the dollar managed to extend yesterday’s gains in Asia after the US President, Donald Trump, revealed his plans on tax reforms a day before. Meanwhile, markets were scanning the RBNZ statement released after the central bank decided to hold rates steady, with the kiwi dipping into losses after the new RBNZ Governor signaled that a weaker currency was needed. Trump unveiled late on Wednesday in Indianapolis the tax plan outline prepared by White House members and his Republican counterparts that is dubbed as the biggest US tax reform in three decades. The plan [..]

Forex Market Review (European Session) – Dollar rallies on hopes of tax reforms; eyes on RBNZ

Posted on September 27, 2017 at 3:13 pm GMT

Hawkish remarks by Fed Chair Yellen on Tuesday continued supporting the dollar against its major rivals during European trading as markets were more confident now that the Fed would deliver another rate hike in December. Investors were also cautious to hear whether the US tax overhaul plan announced later today would be Trump’s first major legislative achievement since his election, a day after his proposals to repeal Obamacare failed to pass yet again. The dollar index breached again the 93 key level during the European session, last trading at [..]

Forex Market Review (Asian Session) – Dollar stronger on hawkish Yellen but eyes on tax plans; kiwi weak ahead of RBNZ meeting

Posted on September 27, 2017 at 8:00 am GMT

Fed Chair Janet Yellen, held a hawkish stance on the Fed’s rate path on Tuesday, boosting the dollar to a fresh one-month high against a basket of major currencies. On Wednesday, dollar sentiment is expected to be positive as markets anticipate the Congress to welcome Republicans’ tax plans after Senate Republicans failed again to replace Obamacare. Meanwhile, the focus will be also on the policy meeting held by the Reserve Bank of New Zealand (RBNZ) later today. The dollar index stood tall at a fresh one-month [..]

Stock Market News (US Open) – Modest gains in Europe; tech stocks attempting recovery in US

Posted on September 26, 2017 at 2:00 pm GMT

Beyond company fundamentals, ongoing tensions between North Korea and the US, as well hints on the future direction of monetary policy by the world’s major economies, were on equity traders’ radar during today’s trading. Major indices in Europe were fluctuating between gains and losses throughout the session’s trading. Stoxx 600, the pan-European index, last traded 0.1% higher. Its performance ranged from -0.1% to 0.2%, touching a fresh two-month peak at its highest. In terms of country indices, the FTSE 100 [..]

Stock Market News (European Open) – Monetary policy, geopolitics on equity traders’ focus; Stoxx 600 up in morning trading

Posted on September 26, 2017 at 9:53 am GMT

North Korea yesterday accused the US of declaring war on the country, giving it the right for countermeasures, including shooting down US war jets even if they’re flying outside its air space. This is not the first time that such a statement (i.e. the US declaring war on North Korea) has been made by Pyongyang, though given what preceded this time round it may carry more weight than in the past. Rhetoric between the US and North Korea getting heated [..]

Forex Market Review (Asian Session) – Safe havens gain ground as Pyongyang threatens to shoot down US jets; oil hits fresh highs

Posted on September 26, 2017 at 8:08 am GMT

Geopolitical uncertainties became dangerous late on Monday giving a boost to safe havens during Tuesday’s Asian session. The North Korean Foreign Minister Ri Yong Ho used a stronger language against the US, saying that Trump’s recent comments were a declaration of war on the Korean peninsula and the regime has the right to shoot down US bombers even if they fly outside the regime’s airspace. A few hours later the White House spokeswoman Sarah Sanders denied that the US has declared war on North Korea, while the National Security Adviser H.R McMaster argued [..]

Forex Market Review (European Session) – Euro extends decline after German elections; oil jumps to fresh multi-month highs

Posted on September 25, 2017 at 3:12 pm GMT

The euro continued to be dogged by concerns about the outcome of the German elections, extending its losses in European trading, while a similarly disappointing election outcome in New Zealand caused the kiwi to be the day’s worst performing major currency. The US dollar was firmer as the yen came under pressure after the Japanese prime minister called a snap general election. Oil prices meanwhile rose to fresh highs after major producers said the market was rebalancing. The prospect of [..]

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