News / Page 194

European Session – Euro under pressure as market awaits Fed decision

Posted on July 29, 2015 at 2:36 pm GMT

The market was mostly waiting the crucial statement out of the Federal Reserve later, as the dollar pushed the euro back towards 1.10 at around 1.1040, but lost ground against the pound as it powered ahead towards 1.57 at 1.5680. The moves appeared to be mostly connected to flows rather than specific market-moving news. Stabilization in Chinese stock markets earlier in the day restored some sense of calm in global financial markets, as US stocks also managed to open higher [..]

Greece begins negotiations on terms for third bailout as next ECB deadline looms

Posted on July 29, 2015 at 1:00 pm GMT

Greek officials on Monday started talks on the terms of the third bailout that was agreed on July 13 between Greece and its creditors. The negotiations are currently taking place on technical level between Greek authorities and Troika representatives following a delay from the previous week over finding a suitable hotel location away from protesters’ reach in the centre of Athens. Troika chiefs are not expected to arrive in Athens until Wednesday and it is hoped that the negotiations will [..]

Technical Analysis – USDJPY consolidating after 13-year high at 125.84

Posted on July 29, 2015 at 8:34 am GMT

Since hitting a 13-year high of 125.84, the dollar has pulled back versus the yen, reaching a low of 120.40 on July 8. It has since climbed back up, but the pair has been having trouble holding above the 124 level. The overall trend remains bullish and the pair has generally managed to stay above its 100-day average for the past 2 ½ months or so. On the downside, the 121-118.50 area is particularly important to hold as it contains [..]

Asian Session – Dollar edges up ahead of FOMC statement; China stocks stage a late rally

Posted on July 29, 2015 at 8:05 am GMT

Shares in China were heading for a fourth-day of losses but staged a late rally to turn positive. The Shanghai SE Composite jumped by 3.5% in late Asian session and the Shenzen CSI 300 index was up by 3%. Equity prices appear to be stabilizing after China’s regulator said it would be buying more shares and has hinted at additional measures to boost liquidity. In Wall Street, investors put aside concerns over China as shares closed higher on Tuesday for [..]

European Session – Dollar mixed ahead of Fed decision; Pound boosted by strong GDP data

Posted on July 28, 2015 at 2:28 pm GMT

The dollar made steady gains in European session but fell back in late trading as markets await tomorrow’s FOMC statement by the Fed, which kicks off its two-day policy meeting today. The greenback was trading 0.5% higher against the yen at 123.60, having touched a low of 123.07. Investors are hoping that Wednesday’s FOMC statement will provide more precise clues on when the Fed will raise rates, which is widely expected in September, though December also remains a strong possibility. [..]

Pound gains on UK GDP rebound in Q2

Posted on July 28, 2015 at 12:55 pm GMT

The UK economy expanded by 0.7% in the second quarter of the year from the first quarter, in-line with estimates. The strong figures show that the UK economy has regained momentum after a mild slowdown in the first quarter of the year when GDP expanded by just 0.4%. Compared to the same quarter in the previous year, GDP was up by 2.6%, also in-line with estimates. Britain’s dominant service sector grew by 0.7% from the previous quarter as business and [..]

Technical Analysis – Japanese stock index consolidating after 15-year highs

Posted on July 28, 2015 at 8:26 am GMT

Following a 15-year high on 23rd June, the Japanese stock index has given back some of those gains; correcting as much as 9% in the following 2 weeks. The closing high on 23/6 was 20874. An attempt to make new highs on July 21/22 failed and the index has turned back into the Ichimoku cloud. The Tenkan-sen line is still above the Kijun-sen, which is bullish. The overall trend is bullish and it is worth noting that Japanese equities have [..]

Asian Session – Volatility returns to China’s stock market; Dollar edges higher

Posted on July 28, 2015 at 7:28 am GMT

Shares in China suffered their second biggest ever fall on Monday as the main Shanghai SE Composite plummeted by 8.5%. There was uncertainty as to what caused the latest sharp losses given recent signs of stabilization after intervention by state authorities to support share prices. Friday’s weak manufacturing PMI and expectations of a US rate rise were some of the potential triggers. But some reports suggested that the state-run margin lender may have repaid loans taken out to support stocks [..]

Strong Durable Goods Orders signals strengthening recovery in US manufacturing

Posted on July 27, 2015 at 3:03 pm GMT

Durable goods orders for manufactured goods in the US were up by 3.4% in June, the first increase in three months, which follows a downwardly revised 2.1% drop in May. Consensus estimates were for a rise of 3.0%. Durable goods orders, which is defined as items with a life-span of at least three years, is used as an indication for future business investment. The June figures, point to an improving outlook in the manufacturing sector after a mixed picture for [..]

European Session – Euro flirts with 1.11 on strong German IFO and weak dollar

Posted on July 27, 2015 at 2:38 pm GMT

The euro rallied strongly against the dollar today, testing the 1.1100 level. Apart from broad dollar weakness, an unexpectedly stronger German IFO sentiment release lent support to the single currency. The Ifo business climate index came in at 108.0 in July up from 107.5 in June and defying expectations for a small decline. The euro peaked at a high of 1.1112 after the data. Sterling consolidated just above 1.5500 versus the dollar during most of the European session, with limited [..]

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