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Forex Market Review (European session) – Euro slides to 3-week lows on ECB overshoot concerns; dollar weighed by Trump, Fed

Posted on August 17, 2017 at 2:27 pm GMT

The euro underperformed its peers in today’s European session as a combination of option expiries and dovish ECB meeting minutes drove the single currency to three-week lows against the US dollar. The greenback managed to reverse around half of yesterday’s losses brought on by the FOMC minutes that showed growing concern among some Fed policymakers that inflation might remain below 2% for longer than anticipated. In other currencies, the pound was unable to get much of a lift from stronger-than-expected [..]

Forex Market Review (Asian Session) – Yen gains on Fed minutes, commodity-linked aussie extends gains, oil inches up

Posted on August 17, 2017 at 7:44 am GMT

As Asian traders were heading home for the day, the yen rose and the dollar extended declines following the release of the Federal Reserve meeting minutes last night. The aussie firmed up following a rally in base-metal prices. The rest of the day looks busy with several economic data publications across Europe and the US along with the release of the European Central Bank meeting minutes. The dollar fell against the yen and other majors after the release of the [..]

Forex Market Review (European session) – Sterling heads up as UK unemployment hits 42-year low; dollar reaches fresh three-week high

Posted on August 16, 2017 at 3:45 pm GMT

With North Korea and the US pulling back from their confrontation stance, the focus turned back to economic releases. The dollar followed an upward path despite weaker housing data, while better than expected labor figures in the UK pushed sterling higher. The lowered US crude inventories published during late European session lifted oil prices. The dollar index peaked at a fresh three-week high of 94.14 during the European session, ignoring today’s disappointing US data on building permits and housing starts. [..]

Forex Market Review (Asian Session) – Dollar continues gaining against yen after yesterday’s surge on upbeat retail sales

Posted on August 16, 2017 at 7:48 am GMT

The US dollar continued gaining during the Asian session following yesterday’s spike versus the yen on upbeat retail sales. Sterling was also down against the greenback during morning trading, while other majors including the euro, aussie, kiwi and the Canadian dollar managed to recoup some of the losses against the US currency. The dollar index was broadly flat at 93.84. In terms of economic data, today’s first session of the day was relatively quiet. The wage price index for the [..]

Forex Market Review (Asian Session) – Dollar steady against yen after yesterday’s surge on upbeat retail sales

Posted on August 16, 2017 at 7:42 am GMT

The US dollar held steady during the Asian session following yesterday’s spike versus the yen on upbeat retail sales. Sterling was also down against the greenback during morning trading, while other majors including the euro, aussie, kiwi and the Canadian dollar managed to recoup some of the losses against the US currency. The dollar index was broadly flat at 93.84. In terms of economic data, today’s first session of the day was relatively quiet. The wage price index for the [..]

Forex Market Review (European session) – Dollar climbs as war tensions calm; euro drifts lower after poor industrial performance

Posted on August 14, 2017 at 3:05 pm GMT

During European trading hours, the dollar managed to reverse partially from losses made on Friday, after comments by two US civil officials and the South Korean president on Monday eased war tensions between the US and North Korea. Meanwhile, the euro weakened as data out of the eurozone showed that industrial output in the area missed expectations. Following Trump’s comments on Friday, who warned that the US army was “locked and loaded” if North Korea acted unwisely, the South Korean president, Moon Jae-in, said on Monday in a meeting [..]

Forex Market Review (Asian Session) – Forex markets’ reaction muted on economic data, dollar on rise

Posted on August 14, 2017 at 7:34 am GMT

Forex markets have had a muted reaction to the released economic data during the Asian session. The yen weakened against the greenback despite an upbeat string of figures out of Japan and still ongoing tensions between the US and North Korea. The aussie softened only modestly against its US counterpart even though Chinese data were disappointing. Japan’s economy annually grew 4% in the second quarter, preliminary data released today showed. This is the fastest pace of expansion since the first [..]

Forex Market Review (European Session) – US-North Korea dispute remains on the forefront; dollar weakens on inflation

Posted on August 11, 2017 at 2:53 pm GMT

Rising tensions between North Korea and the United States were once again the theme of the day with only the release of much-awaited inflation figures out of the US managing to divert attention away from developments on that front. Inflation numbers surprised to the downside, leading the dollar to post considerable losses relative to other major currencies within the first minutes of data release. The all-important July inflation numbers out of the US failed to satisfy dollar bulls’ hopes of [..]

Forex Market Review (European Session) – Risk-off weighs on euro; pound up after UK data; dollar mixed

Posted on August 10, 2017 at 2:52 pm GMT

Market sentiment remained largely in risk-off mood on Thursday as the latest escalation of tension between North Korea and the United States showed no sign of dissipating. North Korea said today it plans to fire four missiles near the US territory of Guam in the Pacific Ocean, branding President Trump’s warning that North Korean threats will be met with “fire and fury” as “a load of nonsense”. The heightened geopolitical anxiety continued to drive gold and the Japanese yen higher [..]

Forex Market Review (European Session) – Safe havens benefit on geopolitical uncertainty; dollar touches 3-week high

Posted on August 9, 2017 at 3:07 pm GMT

Rising tensions between North Korea and the US led traditional safe havens to post gains today. Meanwhile, the few data releases during the day failed to cause much of a reaction in currency markets. The Swiss franc, which as of recently was hitting headlines on continuing weakness, surged today on the back of safe haven demand. In particular, euro/franc fell to as low as 1.1259 after starting the day at 1.1447. It was last down 0.9% on the day. Dollar/franc [..]

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