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Asian Session – Fed minutes in focus

Posted on August 21, 2013 at 6:08 am GMT

The Federal Reserve will publish its July policy meeting minutes later today that may offer clues on whether policy makers will start tapering stimulus and begin reducing their $85 billion of monthly bond purchases. Markets are expected to remain focused on the Fed, with the minutes due out later at 2pm New York time. As investors wait on the sidelines, currency markets were quiet during the Asian session on Wednesday. The Euro hovered near a six-month high versus dollar. EURUSD [..]

US Session – Euro hits six-month high versus dollar

Posted on August 20, 2013 at 8:35 pm GMT

The euro and pound are being supported by a broadly weaker dollar as investors look ahead to the Federal Reserve meeting minutes due on Wednesday. Also supporting euro, pound and Swiss Franc is flow of funds from emerging market currencies. The Brazilian Real, Indian Rupee and Russian Ruble have taken a huge tumble in the past couple of days and so investors are moving funds away from these to somewhat “safer” G10 currencies. The Rupee dropped to a record low [..]

European Session – EURUSD hits 2-month high as dollar demand falls ahead of Fed

Posted on August 20, 2013 at 12:01 pm GMT

The U.S. dollar is trading lower today as the Federal Reserve minutes loom and investors are taking a cautious stance ahead of this key risk event on Wednesday. The Fed will release minutes of its July meeting which many hope will offer clues as to whether policy makers will start reduce their $85 billion of monthly bond purchases as soon as September. These stimulus measures tend to have a weakening effect on the dollar, so a reduction will increase demand [..]

Asian Session – Aussie dollar falls after RBA minutes

Posted on August 20, 2013 at 6:24 am GMT

There was not a lot of data released in the Asian session on Tuesday, so most focus remains on the Federal Reserve policy meeting minutes due on Wednesday. The U.S. dollar remained weak against its major peers as concerns grow over how soon the Fed will start to unwind stimulus measures. There was limited movement during the session with major currency pairs trading in familiar ranges. The Aussie and Kiwi were the biggest movers after central bank remarks. The yen [..]

US Session – Quiet ranges as Fed comes into focus

Posted on August 19, 2013 at 8:13 pm GMT

There was very little going on in the U.S. session due to a lack of U.S. economic data releases and thus no catalyst for any moves in the major currency pairs. Volumes were light as most investors were being cautious ahead of key risk on Wednesday when the Federal Reserve will release its last meeting’s minutes. The waiting on the sidelines has resulted in trading ranges in the G10 currencies, with predominant dollar weakness today. Euro benefited from the weaker [..]

European Session – Euro lifted after hawkish Bundesbank report

Posted on August 19, 2013 at 12:03 pm GMT

Market focus remains on the Federal Reserve during holiday-thinned trade and lack of economic data on Monday. Low liquidity is causing more exaggerated moves, giving the euro a boost against the dollar in early European session trading, after reacting to a hawkish Bundesbank monthly report. The German central bank hinted at possible rate hike while also mentioning that Germany, Europe’s largest economy, is set to return to normal growth rates in the second half of the year. Meanwhile data last [..]

Asian Session – Dollar remains weak after disappointing U.S. consumer sentiment data

Posted on August 19, 2013 at 6:28 am GMT

Broad U.S. dollar weakness remained in early Monday trading and kept currency markets subdued during the Asian session. Investor appetite was dampened since Friday’s tepid U.S. economic data which showed disappointing consumer sentiment numbers. The Thomson Reuters/University of Michigan’s preliminary reading for consumer sentiment fell to the worst in four months in August, down to 80 from 85.1 in July. Asian investors had a chance to react to the bad news today and this was evident in their unwillingness to [..]

Forex News – Dollar crushed after weak nonfarm payrolls

Posted on August 2, 2013 at 12:57 pm GMT

The nonfarm payrolls report crushed all the USD longs as the number of jobs created missed estimates and disappointed markets who now rethink their expectations that the Fed will begin tapering by September. The number of jobs created in July in America’s nonfarm sector was 162,000, which was lower than the forecast for 184,000. Adding to the disappointment was a revision of the previous estimates for hiring in June, which was lowered to 188,000 from 195,000. The unemployment rate fell [..]

European Session – USDJPY rises ahead of Nonfarm payrolls

Posted on August 2, 2013 at 11:59 am GMT

Risk sentiment remained buoyant in the European session on Friday in the build up to the U.S. nonfarm payrolls (NFP) report later. The U.S. dollar is bullish heading to the New York open demand remains strong on the back of the U.S. ISM manufacturing data from yesterday. The upcoming NFP jobs numbers will be the main driver of markets today. The recent array of stronger U.S. data fuels speculation that they would strengthen the case for the Federal Reserve to [..]

Forex News – Sterling jumps after better UK construction PMI

Posted on August 2, 2013 at 9:07 am GMT

Sterling jumped against the dollar and euro after UK construction PMI beat forecasts and hit a three-year high in July. Markets reacted positively to the data as it comes on the back of strong manufacturing PMIs from Thursday. The data is therefore suggesting the British economy is improving and starting the third quarter on a stronger footing. The survey was compiled by Markit and shows the construction PMI rose to 57.0 in July, up from 51.0 in June and its [..]

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