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Forex Market Review (European Session) – Dollar weakness unfolds; sterling gains on manufacturing rebound

Posted on August 1, 2017 at 2:51 pm GMT

Today’s busy schedule of economic data releases kept forex traders active, following significant dollar moves last night. The US currency retraced some of the losses against most of its peers during the early European trading, but those gains were short lived as the greenback’s weakness unfolded ahead of the construction spending and PMI data releases. The European session kicked off with a set of PMIs out of the eurozone and its member countries, followed by the eurozone GDP figures for [..]

Stock Market News – Dow eyes 22,000; European indices gain across the board

Posted on August 1, 2017 at 2:16 pm GMT

The Dow Jones Industrial Average hit yet another record closing high during yesterday’s trading, finishing the day 0.3% higher at 21,891.12. The index containing 30 blue chip stocks was bolstered by a string of positive earnings reports and gains in Boeing’s stock price. Declines in tech giants Facebook and Google’s parent company Alphabet weighed on the S&P 500 and more notably on the tech-heavy Nasdaq Composite. The latter two closed yesterday’s trading 0.1% and 0.4% down respectively. Boeing’s stock price [..]

Forex Market Review (European Session) – Dollar edges up in quiet trading; euro unmoved by flash CPI data

Posted on July 31, 2017 at 3:00 pm GMT

Major currencies were steady in European trading on Monday as risk aversion and central bank meetings later in the week kept investors on the sidelines despite some key data releases. The US dollar inched higher against most other currencies but was weaker against the Japanese yen. The euro saw a mixed response to flash inflation numbers out of the Eurozone, while the pound held near last week’s 10-month highs ahead of ‘Super Thursday’. Fresh geopolitical tensions gave rise to some [..]

Forex Market Review (European Session) – Dollar continues declining after robust growth; loonie eyes fresh high

Posted on July 28, 2017 at 3:05 pm GMT

Second quarter US GDP estimates dominated investors’ attention during today’s European session trading. Certain components within the data led to the dollar recording losses as the news became public, though those were short-lived. In other notable releases, Canadian growth figures for May were released today as well. The much-awaited preliminary US GDP estimates for the second quarter of the year showed the economy expanding at an annualized rate of 2.6%, as expected. First quarter growth was revised downwards to 1.2% [..]

Forex Market Review (Asian Session) – Positive eurozone data supports euro; dollar under pressure ahead of GDP figures

Posted on July 28, 2017 at 7:51 am GMT

As Asian traders were about to close the trading week, the dollar was pressured again, with the dollar index falling a tenth-of-a-percent to 93.76. The euro gained as a string of data came in as expected, leaving no room for disappointment. Economic data out of Japan signaled a sustainable growth in the second quarter, underpinning the Bank of Japan’s buoyant economic view. Japan’s economy expanded 1.0% annually in the first quarter, showing positive growth for more than a year. Analysts [..]

Forex Market Review (European Session) – Dollar recoups modestly on hopes of business spending underpinning GDP growth

Posted on July 27, 2017 at 2:44 pm GMT

The dollar somewhat rebounded during the European session with the dollar index up 0.1%. The latest data on durable goods orders, jobless claims and trade balance on goods supported the US currency to retrace some of earlier losses post the Federal Open Market Committee meeting. The euro declined against the greenback by 0.35% as the US session was about to start. Monthly orders for durable goods in the US rose 6.5% last month, expanding at more than double the expected [..]

Forex Market Review (Asian Session) – Fed’s inflation concern weakens dollar; aussie, kiwi at two-year high

Posted on July 27, 2017 at 7:47 am GMT

It was a relatively quiet data day in forex markets prompting traders to dwell over yesterday’s events, namely the Federal Open Market Committee (FOMC) meeting. As a result of the Federal Reserve’s dovish tone, the weakness in the US dollar unfolded, with the dollar index hitting a fresh 13-month low. The Australian and New Zealand dollars jumped to two-year highs as traders sold off the greenback. The Fed confirmed market anticipations of the federal funds rate remaining at the same target [..]

Forex Market Review (European Session) – Forex market awaits FOMC statement; pound helped by UK GDP

Posted on July 26, 2017 at 2:54 pm GMT

It was a relatively quiet day in forex markets as traders were mostly looking forward to the Fed statement later in the US session and as UK second quarter GDP figures were in line with estimates. In the day’s main economic news, the preliminary estimate of UK second quarter GDP came in line with expectations at 0.3% quarter-on-quarter and 1.7% year-on-year. This was on the one hand a slowdown from the previous quarter’s 2% year-on-year growth rate but the quarterly [..]

Forex Market Review (Asian Session) – Dollar gains ground ahead of FOMC; aussie suffers on softer inflation

Posted on July 26, 2017 at 7:43 am GMT

Inflation figures out of Australia were today’s main data release during Asian session trading. The softer than expected data led to the aussie posting losses. Beyond that, the dollar index seems to be maintaining some positive momentum following yesterday’s upbeat consumer confidence report. The dollar’s index against a basket of currencies was up 0.2% as Asian traders were about to complete their trading day. It stood above the 94 mark, but not far above 93.64, the 13-month low reached yesterday. [..]

Forex Market Review (European Session) – Pound and euro surge on rising yields; US data lifts dollar from doldrums

Posted on July 25, 2017 at 2:58 pm GMT

Risk appetite recovered in European trading on Tuesday as rising government bond yields helped financial stocks, as well as lift the euro and the pound. US treasury yields also moved higher on expectations that the Fed will soon proceed with shrinking its bond portfolio. However, the US dollar was stuck in the doldrums for much of the session as investor caution ahead of the FOMC meeting and political uncertainty weighed on the currency. The euro surged to a fresh high [..]

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