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US Open Preview – Dollar inches up as Fed takes center stage

Posted on August 1, 2018 at 11:05 am GMT

Here are the latest developments in global markets: FOREX: The US dollar continued the bullish movement today against the Japanese yen (+0.05%), near 112.00, while tariffs returned to the spotlight as the US and China were reportedly seeking to resume talks to find common ground on trade. The main event of the day will be the FOMC monetary policy decision later in the day. In the Eurozone, the final IHS Markit manufacturing PMI posted a reading of 55.1 in July, unchanged from [..]

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Asian Session – Dollar holds firm after hawkish Yellen

Posted on February 15, 2017 at 8:35 am GMT

The US dollar held onto gains after a strong rally on Tuesday following comments made by Fed Chair Janet Yellen. In her semi-annual testimony before the Senate Banking Committee in Washington DC, Yellen signaled to the markets that the US central bank could raise interest rates as soon as at its next policy meeting in March.  The tone of her pre-prepared speech was more on the hawkish side and this helped drive the greenback higher. The dollar index ,which measures the [..]

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European Session – Pound under pressure on Brexit uncertainty; Dollar tests 117 yen ahead of Yellen

Posted on December 19, 2016 at 3:39 pm GMT

The British pound came under pressure on Monday as markets grew increasingly concerned about the direction of the UK’s Brexit negotiations with the EU. UK politicians have been hinting recently that they are seeking a transitional agreement that would make it easier for British businesses to adjust to life outside the EU. But there were few signs of a quick settlement for such a deal at last week’s EU summit that was attended by UK PM Theresa May and other [..]

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European Session – Aussie and kiwi extend losses against broadly stronger greenback

Posted on December 16, 2016 at 3:21 pm GMT

The US dollar was consolidating gains against the yen, the euro and the pound and was trading a tight range after its Fed-driven surge earlier this week. The stall in the greenback’s rally today gave some relief for gold prices which recouped some of its post-Fed losses. The US currency however extended gains versus the loonie, the aussie and the kiwi. The Australian and New Zealand dollars are high yielders but despite this fact and due to narrower interest rate [..]

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Week Ahead – Bank of Japan policy meeting and RBA meeting minutes in focus

Posted on December 16, 2016 at 1:40 pm GMT

After a busy week which was dominated by central bank meetings that included the Federal Reserve and Bank of England, markets will also await another major central bank meeting next week – the Bank of Japan. The Fed’s highly anticipated meeting culminated with a decision on Wednesday to raise the Fed funds rate by 25 basis points as expected but the US central bank surprised the markets with a revision to its rate hiking cycle and indicated it would raise [..]

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Asian Session – Dollar holds gains as markets digest Fed’s hawkish rate hike outlook

Posted on December 16, 2016 at 7:30 am GMT

The US dollar stalled its Fed-driven rally and consolidated against most of its major counterparts in a relatively quiet Asian session. The FOMC’s decision on Wednesday to hike rates and quicken its pace of hiking has taken the US dollar index to a 14-year high. A string of US economic releases on Thursday lent support to the dollar as improving data help reinforce more interest rate increases from the Fed next year. US CPI rose 1.7% year-on-year in the November, [..]

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European Session – Euro tumbles to lowest since 2003; sterling falls after Bank of England

Posted on December 15, 2016 at 3:29 pm GMT

The euro fell to the lowest in more than a decade while the US dollar’s Fed-drive rally continued higher.  Meanwhile, sterling extended losses after the Bank of England meeting. The BoE Monetary Policy Committee voted unanimously to leave policy unchanged at 0.25%. It also voted to keep its asset purchase program unchanged. The target amount for gilts will remain at 435 billion pounds a month and corporate bonds at 10 billion pounds. The UK central bank stated that policy can [..]

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Asian Session – Dollar extends rally to fresh 10-month high against yen after Fed hikes rates

Posted on December 15, 2016 at 7:52 am GMT

The US dollar surged to a 10-month high against the yen as markets reacted to the news that the Federal Reserve raised interest rates and revised its forecast for next year’s pace of rate hikes. The Fed’s move indicated its confidence in the US economy and its belief that labour market conditions are tightening. The FOMC decided to lift the Fed funds rate by 25 basis points to a range of 0.5 to 0.75 percent after a  two-day meeting and [..]

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