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European Session – Euro extends gains on strong Ifo; Dollar eyes Fed speakers and Clinton-Trump debate

Posted on September 26, 2016 at 2:22 pm GMT

Risk sentiment deteriorated during the course of the day with the US dollar coming under renewed pressure in Monday’s European session. Key risk events such as a series of speeches by Fed policymakers today and in the rest of the week, as well as the US presidential election debate later in the day, kept the dollar under pressure against most major currencies. Global equities also took a tumble as investors around the world await the first of three televised debates [..]

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European Session – Dollar firms on Fed’s Rosengren remarks; Loonie plunges on data miss

Posted on September 23, 2016 at 2:42 pm GMT

Eurozone flash PMIs dominated the start of European trading today but reaction was muted and attention soon turned to Canadian data which triggered a sell-off of the loonie. The US dollar meanwhile was lifted from some very hawkish comments from Fed policymaker, Eric Rosengren. Flash PMI readings for the Eurozone showed manufacturing activity picking up a gear in September but services activity slowing. Manufacturing activity was boosted by rising export orders but the services sector expanded at the weakest pace [..]

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Week Ahead – Busy week for Japan and US data; Central bank speeches also in focus

Posted on September 23, 2016 at 12:56 pm GMT

Economic indicators out of the Eurozone, Japan and the United States will dominate next week’s calendar. But it will also be a busy seven days for central bank speeches, with Draghi, Kuroda and Yellen all due to speak. Eurozone business surveys and flash CPI eyed The week will start with the closely watched German Ifo survey on Monday. The Ifo business climate index unexpectedly dipped last month, raising fears of a delayed post-Brexit blow to business confidence in Germany. The [..]

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European Session – Dollar rebounds modestly against yen but sags against euro, pound

Posted on September 22, 2016 at 3:00 pm GMT

The US dollar steadied in European trading on Thursday having earlier slid to a 4-week low against the yen following yesterday’s FOMC meeting. The euro and the pound continued to advance higher against the dollar however, adding to yesterday’s gains when the dollar fell after the Fed lowered its longer-run rate outlook even as it signalled one rate hike before the year-end. The euro hit a one-week high of 1.1257 dollars as there was little else apart from the FOMC [..]

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Asian Session – Dollar weakens, gold rallies as Fed sees no rush to hike rates

Posted on September 22, 2016 at 5:27 am GMT

There was broad dollar weakness during Asian trading on Thursday which followed through from the late US session when the greenback softened after the Federal Reserve’s decision to delay a rate hike. The FOMC concluded a two-day meeting on Wednesday with a decision to hold the federal funds rate unchanged between 0.25%-0.50%. While the Fed was in no rush to hike rates in September it did however suggest that further rate hikes were to come soon and gave strong hints [..]

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Fed signals one rate hike in 2016 but dollar comes under pressure

Posted on September 21, 2016 at 8:46 pm GMT

The Federal Reserve decided to leave the federal funds rate unchanged in a range of 0.25%-0.50% at the end of its two-day meeting today in what was the most divided vote since December 2014. Three members of the FOMC dissented in the September meeting with Esther George, Loretta Mester and Eric Rosengren all voting to raise rates by 0.25%. This signalled that the Fed is getting closer to raising rates again, having stood pat since last December, when it tightened monetary [..]

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European Session – Yen performs U-turn on BoJ policy rethink while Fed decision looms

Posted on September 21, 2016 at 2:36 pm GMT

The Japanese yen performed quite a U-turn during today’s trading, as policy that was first thought to be a yen-negative was later reassessed as a yen-positive.  Other currency pairs that did not involve the yen were mostly waiting for the Fed’s decision on interest rates later in the US session.  The pound was trying to recover following its recent heavy losses on views that Brexit could ultimately involve a more distant economic relationship between the EU and the UK than [..]

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