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Forex Market Review (European Session) – Dollar under pressure after Trump’s tweet on N. Korea; pound weaker despite May rejecting options of leaving EU earlier

Posted on September 22, 2017 at 3:54 pm GMT

The latest war of words between Trump and the North Korean leader Kim Jong Un kept markets nervous during the European session, with the dollar being unable to restore Wednesday’s gains when the FOMC statement signaled the start of the balance sheet reduction in October and more strongly put on the table an additional rate hike later in the year. However, the Brexit speech by the UK Prime Minister Theresa May was in the spotlight during the European session with the pound sinking during [..]

Forex Market Review (Asian Session) – Dollar tumbles on rising US – North Korea tensions; pound flat ahead of May’s Brexit speech

Posted on September 22, 2017 at 8:06 am GMT

The risk-off sentiment reemerged on Friday in Asia, as the North Korean leader Kim Jong Un delivered another threatening message to the US following Trump’s warning at his debut speech at the UN General Assembly on Monday. The dollar lost ground against a basket of major currencies, paring gains made after the Fed’s decision to start unwinding its balance sheet on Wednesday. Meanwhile, the pound remained steady ahead of the widely expected speech by the British Prime Minister on Brexit later today. Investors were in a risk-averse mode during the [..]

Forex Market Review (European Session) – Markets digest Fed message as dollar corrects; aussie drops on Chinese downgrade

Posted on September 21, 2017 at 2:47 pm GMT

The US dollar gave back some of its gains versus its major counterparts such as the euro, the yen and the British pound after the Fed signaled the previous day it was planning to raise interest rates one more time this year. The Fed also announced that in October it would start to slowly roll back some of the stimulus it injected in the form of Quantitative Easing; the first major central bank to do so since the financial crisis [..]

Forex Market Review (European Session) – Dollar stays weak on prospect of dovish Fed later

Posted on September 20, 2017 at 2:43 pm GMT

The US dollar remained weak ahead of the Federal Reserve’s announcement and the Fed Chair’s press conference later in the session. Traders seemed to be bracing for an on balance dovish message from the Fed, even though the market still expected a rate hike at the end of the year to be more likely than not. There was virtual unanimity that the Fed would not increase rates today but rather only announce the starting date for the gradual reduction of [..]

Forex Market Review (European Session) – Dollar retreats ahead of Fed announcement tomorrow

Posted on September 19, 2017 at 2:54 pm GMT

The US dollar posted modest losses during today’s session as traders were fixated on tomorrow’s announcement by the Federal Reserve. The dollar made its highs towards the end of today’s Asian session, but lost ground after that. Dollar/yen, in particular, saw significant profit-taking after the substantial gains of the previous days. From 111.83 the pair fell to as low as 111.23, rebounding to 111.40. Euro/dollar also peaked above 1.20 earlier in the day but was not far from that level [..]

Forex Market Review (Asian Session) – Dollar climbs vs yen ahead of FOMC; pound loses ground after Carney speaks on rates and Brexit

Posted on September 19, 2017 at 8:06 am GMT

On Tuesday, the dollar hit a fresh eight-week high against the yen in Asia with investors widely expecting the Fed policymakers to announce the start of monetary tightening later this year in their two-day meeting that concludes on Wednesday. Its British counterpart was in an uptrend as well following a deep fall on Monday after the BOE Governor, Mark Carney, talked down the country’s post-Brexit trade prospects and argued that rates should rise moderately, giving no clues on when the [..]

Forex Market Review (European Session) – Yen under pressure because of risk-on; pound catches breath after major up move

Posted on September 18, 2017 at 2:51 pm GMT

The yen remained under pressure during today’s trading as market participants were more optimistic on the global outlook. The pound retreated after climbing to its post-Brexit high versus the dollar due to some profit-taking. Safe haven plays such as the yen and gold remained under substantial pressure today as equity markets around the world marched on to fresh highs and concerns about a possible escalation of the North Korean situation were calmed by recent developments. A speech by US President [..]

Forex Market Review (Asian Session) – Safe-havens pull back as US seeks peace with N.Korea; dollar steady ahead of FOMC

Posted on September 18, 2017 at 7:58 am GMT

On Monday, safe-haven currencies were trading lower as UN leaders were preparing to kick off a meeting on Tuesday to discuss possible solutions on North Korea’s nuclear programs, with the US seeking a peaceful resolution. The dollar was hovering sideways ahead of the FOMC meeting. With the economic calendar lacking significant releases during the Asian session, the dollar index was mainly flat at 91.88 as investors were waiting for the two-day FOMC meeting ending on Wednesday. Although investors anticipate Fed policymakers to keep rates unchanged, they will be focused [..]

Forex Market Review (European Session) – Dollar extends losses; BOE Vlieghe pushes pound above $1.36

Posted on September 15, 2017 at 3:20 pm GMT

The dollar could not find support on the closely watched US retail sales figures released during the European session as the numbers came in lower than forecast, while risk-off sentiment continued weighing on the currency. Among major currencies, though, the pound was the best performer as it managed to reach post-Brexit levels after BOE’s Gertjan Vlieghe signalled that a rate hike might emerge in next months. While investors anticipated US retail sales to grow by 0.1% m/m in August, the [..]

Forex Market Review (Asian Session) – Dollar posts short-lived losses after North Korea’s missile; focus on US retail sales

Posted on September 15, 2017 at 8:01 am GMT

North Korea carried a second missile test in less than a month early on Friday, lifting risk-off sentiment and pushing the dollar lower against its safe-haven counterparts. However, the currency managed to reverse its losses immediately, with investors turning their focus on US retail sales after CPI readings came in higher than expected on Thursday. During early Asian trading hours, officials from South Korea and Japan reported that North Korea fired a ballistic missile that crossed over Japan’s northern island [..]

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