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Forex News – Dollar breaks above 117 yen as Fed raises rates, ups outlook

Posted on December 14, 2016 at 9:50 pm GMT

The US Federal Reserve announced a hike of 25 bps in its benchmark rate at its policy meeting today, in a decision that was widely anticipated by financial markets. The move is the first increase in 2016 and the first since last December’s historic decision to raise rates for the first time since the financial crisis. Federal Open Market Committee (FOMC) members were unanimous in voting in favour of raising the federal funds rate to a target range of 0.50-0.75% [..]

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Asian Session – Dollar sidelined ahead of highly anticipated Fed meeting

Posted on December 14, 2016 at 7:14 am GMT

The US dollar remained sidelined ahead of the Federal Reserve’s monetary policy announcement later today. The consensus is for a rate hike of at least 25 basis points to bring the Fed funds rate to a range of 0.5 percent to 0.75 percent. This would be the first interest rate increase this year and just the second since the financial crisis. A rate hike by the Fed is mostly already priced in by the markets, so what will be more [..]

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Asian Session – US dollar softens as Fed begins final policy meeting of the year

Posted on December 13, 2016 at 6:37 am GMT

The Federal Reserve begins a two-day monetary policy meeting today and markets highly anticipate a rate rise of at least 25 basis points. This would be the first increase in a year. US Treasury yields and the dollar have been rising in the buildup to the FOMC meeting. The benchmark 10-year Treasury bond yield jumped to a 2-year high on Monday before steadying. The greenback climbed to a fresh 10-year high of 116.11 yen yesterday but eased slightly to trade [..]

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Asian Session – Oil jumps to 1-½ year high after non-OPEC producers agree to cut output; Canadian dollar gains

Posted on December 12, 2016 at 7:47 am GMT

Oil prices surged more than 4 per cent on Monday after non-OPEC producers reached an agreement to cut production by 558,000 barrels a day starting in January. The deal comes two weeks after OPEC made a pact to reduce output by 1.2 million barrels a day. These were both landmark deals that aim to ease the global oil supply glut and help boost oil prices. Since the November 30 OPEC deal, oil prices have gained 20 percent to their highest levels [..]

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Week Ahead – All eyes on Fed; Bank of England, SNB and Norges Bank meet too

Posted on December 9, 2016 at 1:30 pm GMT

After this week’s surprise actions by the ECB, markets will be hoping that central bank meetings over the next seven days won’t stray too far from expectations. Apart from the Fed’s much anticipated FOMC meeting, central bankers from the UK, Switzerland and Norway will also be gathering for their regular policy meetings. In terms of data, inflation and retail sales figures for the UK and the US will be the main highlight. Japanese business outlook expected to improve in Q4 [..]

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Forex News – Rising oil prices lift inflation expectations, boosting dollar and yields

Posted on December 1, 2016 at 11:57 am GMT

Oil prices soared after an agreement was reached by members of the Organization of the Petroleum Exporting Countries (OPEC) to cut production by 1.2 million barrels a day. This was the first time since 2008 that the cartel came to a deal to trim production levels, as it aims to boost oil prices that have been depressed for over two years due to a supply glut. The OPEC deal on Wednesday sent oil prices higher, with WTI rising above $50 [..]

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European Session – Oil and gold steadier as dollar holds near highs in thin Thanksgiving trade

Posted on November 24, 2016 at 3:13 pm GMT

Currency markets and commodities were steadier in European trading on Thursday as the dollar eased slightly from the fresh highs set earlier in the day. Trading volumes were thin today due to US markets being closed for the Thanksgiving holiday but Wednesday’s strong US data and hawkish Fed minutes were enough to keep the dollar’s bullish momentum going. The US dollar set a new 8-month high of 113.53 yen at the start of the European session but had eased slightly [..]

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