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Forex Market Review (European Session) – Dollar and pound hold near highs; euro subdued after Draghi

Posted on May 10, 2017 at 2:44 pm GMT

Major currencies were stuck in tight ranges in Wednesday’s European session as the market lacked fresh impetus in a relatively quiet trading day. The euro was subdued after ECB President Mario Draghi failed to give a clear signal of stimulus withdrawal, while dollar/yen and cable held near multi-week highs on expectations of tighter monetary policy. The main event of the day was a hearing in the Dutch parliament where European Central Bank head, Mario Draghi spoke about monetary policy. Draghi [..]

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Forex Market Review (Asian Session) – Dollar drops on news of FBI Director dismissal

Posted on May 10, 2017 at 7:46 am GMT

The dollar was weaker during the Asian session after slipping on news that US President Donald Trump fired FBI Director James Comey. The yen was stronger due to geopolitical concerns and talk of another nuclear test by North Korea. Market jitters appeared to ease slightly as the European session opened. Trump’s decision to dismiss Comey put investors on edge, causing the dollar to trim earlier gains when it had hit its highest level against the yen in almost two months [..]

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Forex Market Review (Asian Session) – Aussie extends losses to 4-month low after weak retail sales; greenback rallies versus yen

Posted on May 9, 2017 at 7:39 am GMT

The aussie slid to a fresh four-month low against the greenback during today’s Asian session after disappointing Australian retail sales numbers, which unexpectedly declined by 0.1% month-on-month in March, compared to a downwardly revised 0.2% drop in February and missed estimates of a 0.3% increase. The Australian dollar fell to as low as $0.7334. The data will not likely change expectations that the RBA will keep interest rates steady for months to come. Australia’s federal budget will be released later [..]

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Forex Market Review (European Session) – Euro pulls back from 6-month highs; Sterling holds within sight of $1.30

Posted on May 8, 2017 at 2:55 pm GMT

The euro’s relief rally from the French presidential result faded in European trading on Monday as profit taking set in, while the safe-haven yen recovered from its earlier weakness. The US dollar also gave up its earlier gains versus the yen but was firmer when measured against a basket of currencies. The single currency hit a 6-month high of 1.1022 dollars at the Asian open but had retreated to 1.0940 by late European session. A win for the centrist candidate [..]

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Forex Market Review (Asian Session) – Euro jumps on French elections results, hits one-year high versus yen

Posted on May 8, 2017 at 7:55 am GMT

The results of the French presidential elections provided a boost for risk assets as the Emmanuel Macron victory provided more certainty for the markets, versus a Marine Le Pen win. The euro strengthened against most major counterparts and hit a six-month high against the US dollar, as Macron’s margin of victory was far greater than expected. The euro jumped in a knee-jerk reaction when markets opened today and rose above the $1.1000 level for first time since November, although gains [..]

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Forex Market Review (European Session) – US job growth recovers; dollar fails to gain

Posted on May 5, 2017 at 3:14 pm GMT

The all-important non-farm payrolls number out of the US was released during today’s European session trading hours. The number showed a rebound from March’s underwhelming figure but failed to lift the dollar. Other important news pertained to Canada’s jobs report, which was also released today. The dollar index, measuring the greenback against the currencies of six major US trading partners, was more or less flat in late European session trading after falling to a near six-month low of 98.68 earlier [..]

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