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European Session – Strong durable goods propel dollar above 112 yen; Gold sinks below $1200

Posted on November 23, 2016 at 4:05 pm GMT

The dollar rally showed no sign of abating today as much stronger-than-expected US data swiftly un-paused the brief halt in the greenback’s post-election surge. US treasury yields also rallied as expectations that the Fed may have to tighten policy more aggressively than anticipated led to another outflow of funds from government bonds. After a quiet start to the day, major currencies soon moved out of their previous day’s range during Wednesday’s European session as they digested a slew of US [..]

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European Session – Pound slides on Scottish say on Brexit ruling appeal; Dollar set to end week near 14-yr highs

Posted on November 18, 2016 at 4:34 pm GMT

The British pound was one of the worst performers in Friday’s European Session as it was hit by news that the UK Supreme Court will allow Scottish and Welsh lawyers to attend the Brexit hearing, while the US dollar looks set to enjoy a second week of strong gains. Sterling fell sharply today after lawyers representing the Scottish and Welsh governments were invited to have their say in the hearing on whether the High Court’s ruling that the UK government [..]

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Week Ahead – Eurozone PMIs and Japan inflation in focus in quiet week

Posted on November 18, 2016 at 2:05 pm GMT

With the dollar rally showing no sign of abating, expectations of US fiscal and monetary policy could continue to set the market theme in an otherwise relatively quiet week for economic data. The main highlights on the data front will come from Eurozone flash PMI numbers and Japanese inflation figures. Eurozone business surveys in focus ECB President Mario Draghi said this week the recovery in the Eurozone was becoming more broad-based and recent PMI data supports this view. Flash PMI [..]

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Asian Session – Dollar rises above 110 yen on looming Fed rate hike

Posted on November 18, 2016 at 7:20 am GMT

The US dollar continues to be bid today, extending gains above the key 110-yen level in Asian trading after Fed Chair Janet Yellen signaled to markets that a rate hike could come relatively soon. In her testimony before the Joint Economic Committee of Congress on Thursday, Yellen said that the US economy has made progress toward the Fed’s goals. She expects moderate economic growth to continue, which would be sufficient to generate further strengthening in the labour market conditions. The Fed [..]

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European Session – Yellen and strong data push dollar back towards 13 1/2-year highs

Posted on November 17, 2016 at 3:42 pm GMT

The US dollar was headed back towards yesterday’s 13½-year highs in European trading today after Fed Chair Janet Yellen signalled the Fed is getting close to raising rates, while another set of strong US data further underscored such expectations. In her pre-prepared text of the testimony before the Joint Economic Committee in Congress, Yellen said an increase in the Fed funds target range could become “appropriate relatively soon”. Yellen added that the decision to wait for further evidence of progress [..]

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Asian Session – Aussie steady after weak jobs data; greenback in focus ahead of Yellen testimony

Posted on November 17, 2016 at 5:45 am GMT

The Australian dollar was steady despite a disappointing employment report that showed a smaller-than-expected gain in jobs in October. The US dollar was trading lower against the yen in today’s Asian session. The greenback also gave up gains versus the euro. Investors took the opportunity for some profit-taking ahead of a key testimony by Federal Reserve Chair Janet Yellen later today. The dollar edged down against the yen to a session low of 108.54 yen, moving off a five-month high [..]

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European Session – Dollar resumes gains on US data; pound hit by leaked Brexit memo

Posted on November 15, 2016 at 4:02 pm GMT

Risk sentiment was mixed in Tuesday’s European session as commodities held on to their gains even as the dollar resumed its week-long rally. The euro meanwhile fell back from its short-lived rebound but sterling came under pressure on concerns about the UK government’s readiness to trigger Article 50. The US dollar had eased slightly from Monday’s highs at the start of trading today but headed back up again after US retail sales beat expectations. Retail sales in the United States [..]

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Week Ahead – After election shock, quieter week awaits with inflation, jobs and retail sales data

Posted on November 11, 2016 at 3:08 pm GMT

After an eventful week following the surprise outcome of the US presidential election, a calmer seven days awaits as economic data moves back under the spotlight. Inflation and retail sales numbers for the UK and the US will come into focus along with Japanese Q3 GDP data, while key indicators out of China will also be watched. UK inflation eyed as weak sterling drives up import prices It will be an important data week for the UK as inflation, unemployment [..]

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Asian Session – Sterling on track for weekly gains, euro tumbles, dollar firm on rate hike expectations

Posted on November 11, 2016 at 8:17 am GMT

The dollar is set to end the week higher as it was boosted after the US elections this week. Donald Trump’s victory gave markets optimism that his fiscal spending plans will boost the US economy. Increased inflation expectations led to a drop in bond prices, while the Dow Jones Industrial Average surged to a record high. Emerging markets sold off sharply. Meanwhile growing expectation of a December rate hike by the Fed is helping boost the dollar. On Thursday, St. [..]

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