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Forex Market Review (European Session) – Dollar continues rally ahead of Fed minutes and Friday’s jobs report; oil plummets

Posted on July 5, 2017 at 2:29 pm GMT

The US dollar put in a strong performance in post-July 4th trading ahead of key data releases tomorrow and Friday and as traders eagerly expected the minutes from the latest Fed meeting. Euro/dollar dropped to as low as 1.1311 during Wednesday’s European trading while dollar/yen rose to as high as 113.67 in a broad move higher for the greenback.  The dollar index reached a 1-week high of 96.23 and thereby recovered some of the losses it suffered the previous week.  [..]

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Forex Market Review (Asian Session) – US dollar steady ahead of Fed minutes; euro, sterling modestly up

Posted on July 5, 2017 at 7:56 am GMT

Following yesterday’s low trading activity during the US session amid the 4th of July holiday in the US, not much data has been released during today’s Asian session either. Both, the euro and sterling modestly gained against the dollar. Looking at commodities, both oil prices and gold were up. The Australian dollar retraced some of yesterday’s losses, last trading at $0.7614, after tumbling on Tuesday as a result of the Reserve Bank of Australia’s decision to maintain a neutral policy [..]

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Forex Market Review (European Session) – Praet keeps euro down while safe havens benefit from North Korean missile test

Posted on July 4, 2017 at 2:31 pm GMT

It was a relatively quiet forex trading session for Europe on Tuesday, as the 4th of July holiday in the US brought down volumes and overall activity. The main news of the day was the test of a long-range missile by North Korea, which led investors to seek the safety of havens such as the yen and gold.  The gains by both the yen and gold were relatively modest however, suggesting that the North Korean action did not unsettle investors [..]

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Forex Market Review (Asian Session) – Aussie under pressure; geopolitical concerns lift yen

Posted on July 4, 2017 at 7:45 am GMT

The Australian dollar came under pressure against the greenback on the unchanged cash rate by the Reserve Bank of Australia. Meanwhile, the yen got a lift amid geopolitical concerns induced by another North Korea missile test. The euro and sterling were broadly steady against the US dollar. The RBA left its cash rate unchanged at a historic low of 1.5% during its policy meeting earlier today. While this was widely expected by the markets, the aussie was under pressure against [..]

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Forex Market Review (European Session) – US dollar recovers ahead of July 4th holiday; Global manufacturing PMIs paint upbeat picture

Posted on July 3, 2017 at 2:22 pm GMT

The dollar managed to regain a part of its recent losses today, as Purchasing Managers’ Indices from around the world painted an upbeat picture of the global economy. As the dollar strengthened, particularly noteworthy was its break above 113 versus the yen; a 1 ½ – month high for the greenback.  The yen was also near its 1 ½ -year low against the euro as it traded around 128.40.  In Japan, signs of optimism from large manufacturers and services’ companies [..]

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Forex Market Review (Asian Session) – Dollar modestly up; euro falls below 1.14

Posted on July 3, 2017 at 7:49 am GMT

Today’s Asian session saw the dollar broadly advancing relative to other majors, though its gains were limited in nature. China’s Caixin manufacturing PMI positively surprised, pushing the yuan higher, while a negative backdrop could potentially form for the yen after Prime Minister Shinzo Abe’s Liberal Democratic Party lost an election in Tokyo. As Asian traders were completing their day, the dollar index was up two-tenths of a percent at 95.79. The index, which gauges the greenback against a basket of [..]

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Forex Market Review (European Session) – Dollar on course for worst quarter in 7 years; loonie at 10-month high

Posted on June 30, 2017 at 2:47 pm GMT

Today’s European session was a rather busy one in terms of data releases. Final UK figures on first quarter economic growth confirmed economic activity slowing down in the nation, while inflation figures out of the eurozone surprised to the upside but failed to boost the euro. Out of the US, consumer spending and the reading for the core PCE index were among the releases attracting attention. US consumer spending recorded a slight increase in May, rising by 0.1% month-on-month, in [..]

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