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Investment Theme – Commodity currencies struggle on faltering Trumpflation trade

Posted on March 29, 2017 at 9:59 am GMT

The pullback in the US dollar over the past two weeks has brought little relief to commodity-linked currencies, as their resilience against the resurgent greenback had been underpinned by the Trumpflation trade, which came close to being fully unwound this week. Currencies such as the Australian, New Zealand and Canadian dollars have come under pressure in the past week on fears that the reflation trade inspired by Trump has come to an end. Market expectations that Donald Trump’s presidency would [..]

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Forex Market Review (Asian Session) – Sterling weakens as UK starts Brexit process, dollar jumps on Fed rhetoric

Posted on March 29, 2017 at 7:38 am GMT

The pound was one of the worst performing major currencies during forex trading in Asia today, as the UK is set to trigger Article 50. The dollar was broadly stronger after a report showed US consumer confidence jumped to a 16-year high. British Prime Minister Theresa May has already signed the letter to initiate the formal process of leaving the EU on March 29, formally beginning two years of talks . Uncertainty surrounding the process weighed on sterling, pushing it lower [..]

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European Session – Dollar stable; FOMC officials, including Yellen, in focus

Posted on March 28, 2017 at 3:17 pm GMT

Currency markets were in consolidation mode for the most part during today’s European session trading with major currency pairs not much changed from the levels they closed yesterday. Better-than-expected consumer sentiment did allow the dollar to advance a bit relative to other currencies. The dollar index was little changed relative to where it started the day, but above the 99 level and yesterday’s low which marked one of the lowest levels for the index since Donald Trump won the US [..]

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Asian Session – Dollar stabilizes after drop to 4-month low against yen; pound in focus ahead of Brexit talks commencing

Posted on March 28, 2017 at 7:58 am GMT

The dollar stabilized today after sliding to a four-month low against the yen in reaction to news of the setback on healthcare reform. Investors have now shifted their attention to US President Donald Trump’s other policies with regards tax cuts and infrastructure spending. The market’s disappointment eased as focus now turns back to US economic growth showing signs of improvement while the Federal Reserve is firmly on a path of rate hikes, albeit gradual. Chicago Fed President Evans, speaking yesterday, reiterated [..]

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European Session – Dollar index below 99 on Trump reform concerns; index lowest in four months

Posted on March 27, 2017 at 3:06 pm GMT

In today’s European session the dollar continued declining on the back of Friday’s failed attempt by the Trump administration to repeal the previous administration’s Affordable Care Act (ACA), widely known as Obamacare. In terms of economic data, the Ifo surveys measuring business morale in Europe’s biggest economy, Germany, all exceeded expectations. The dollar index fell below the 99 level for the first time since November 11 to reach 98.86 and was last down seven-tenths of a percent relative to Friday’s [..]

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Asian Session – Dollar falls across the board, gold rallies after new US healthcare bill fails to pass

Posted on March 27, 2017 at 7:31 am GMT

The dollar fell across the board and gold rallied as risk aversion in the markets increased demand for safe haven assets after news that the US House of Representatives failed to pass legislation that would reform the American healthcare system. Repealing and replacing Obamacare was one of Trump’s major election campaign promises and his inability to pass the new healthcare bill is raising concern on whether his other more important plans on tax cuts and stimulus measures will get executed [..]

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European Session – Euro rises above $1.08 after PMIs, dollar struggles on jitters ahead of US healthcare vote

Posted on March 24, 2017 at 4:03 pm GMT

The main focus of the markets was the healthcare bill in the United States, where the House of Representatives is set to vote on repealing and replacing Obamacare. With a lot of political wrangling within the Republican party that resulted in delaying the vote, US President Donald Trump announced yesterday he just wants to get on with the vote and proceed to more important legislation on tax reform and stimulus spending. The dollar has been little changed on the day, [..]

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