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Forex Market Review (Asian Session) – Dollar weakens, safe havens gain on geopolitics and Yellen comments

Posted on April 11, 2017 at 7:27 am GMT

Safe haven assets were in demand as risk aversion in the markets today drove investors to the yen and gold.  Geopolitical concerns and Fed Chair Janet Yellen’s comments weighed on US Treasury yields. The dollar index consolidated losses after falling below the key 101 level yesterday. Tensions in Syria and growing unease about North Korea supported gold prices, which rose for a second day to reach an Asian session high of $1257.46. The Chair of the US central bank, Janet [..]

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Forex Market Review (European Session) – Dollar down despite 4-week high earlier in the day; upbeat housing data boost the loonie

Posted on April 10, 2017 at 2:47 pm GMT

Today’s European session was lacking any major economic releases as only the Sentix survey measuring Eurozone investor morale and housing starts out of Canada gathered some attention. Beyond those, recent geopolitical developments played a role in today’s movements as well. The dollar index was down one-tenth of a percent during late European session trading. The index, a broad gauge of dollar strength versus the currencies of major US trade partners, rose to a near four-week high of 101.34 earlier in [..]

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Forex Market Review (Asian Session) – Dollar extends gains; euro at one-month lows; focus on Yellen

Posted on April 10, 2017 at 7:41 am GMT

The dollar rose for a third day against the yen despite Friday’s lower-than-forecast US non-farm payrolls (NFP) report, as risk aversion somewhat faded following Friday’s news of a US missile strike in Syria. The dollar index is trading near a four-week high. There was a relatively light economic calendar for the Asian session. Japan released upbeat current account data which had little impact on the yen. In Australia, home loans data were worse-than-expected and this had a negative impact on [..]

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Forex Market Review (Asian Session) – Gold and yen jump on risk aversion after US missile strike on Syria; focus shifts to nonfarm payrolls

Posted on April 7, 2017 at 7:47 am GMT

Gold and the yen jumped during Asian trading on Friday, while stock markets fell on geopolitical risk, pushing investors out of risky assets and into safe havens. There were flows into US Treasuries as well. News of a US missile launch on an airbase in Syria rattled global markets, as it raised the risk of a confrontation with Russia and Iran. The knee-jerk reaction in the forex markets saw the dollar drop against the yen to its lowest level since [..]

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Forex Market Review (European Session) – Euro hurt by Draghi; Trump-Xi meeting in focus

Posted on April 6, 2017 at 2:57 pm GMT

The main data point in today’s European session trading pertained to US weekly jobless claims. Those came in better than expected but failed to provide an additional boost to an otherwise stronger dollar on the day. Beyond economic releases, the Trump-Xi meeting looms ahead, while the euro was negatively affected by some dovish-perceived comments by the head of the European Central Bank. The dollar index, a broad gauge of dollar strength, edged higher today. If it closes in the green, [..]

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Forex Market Review (European Session) – Dollar gains on robust ADP jobs; sterling lifted by services PMI

Posted on April 5, 2017 at 2:49 pm GMT

Sterling was one of the best performing major currencies after UK data surprised to the upside. The dollar jumped higher after ADP jobs beat expectations. After a relatively quiet start to the European session, the dollar moved out of its range and rallied strongly against the yen on the robust ADP data, to break above the key 111-yen level. The ADP employment report released today showed private payrolls in the US rose by 263,000 in March, which was far above the 187,000 [..]

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Forex Market Review (Asian Session) – Quiet session ahead of risk events; oil rises after fall in stockpiles

Posted on April 5, 2017 at 7:53 am GMT

There was limited price action today as investors remained sidelined ahead of big risk events coming up this week. Major currencies mostly traded in tight ranges during the Asian session, with risk-off sentiment keeping trading volumes low, while a lack of major economic releases kept the market focus on the meeting between US President Donald Trump and China’s President Xi Jinping that will last two days, starting on Thursday. This will be the two leaders’ first face-to-face meeting since Trump took [..]

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