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GBPUSD

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Forex Market Review (European Session) – Euro hits one-year high; sterling jumps on Carney; dollar posts 7-month low

Posted on June 28, 2017 at 3:18 pm GMT

The euro picked up from yesterday’s gains as today’s European session got underway. Its advance was temporarily halted though after anonymous sources out of the European Central Bank made reference to markets overinterpreting the ECB President Mario Draghi’s comments the day before. Investors were also paying close attention to the ECB’s forum in Sintra, Portugal, as major central bank heads, including Bank of England Governor Mark Carney, were participating in a panel discussion. Some remarks by Carney led sterling post [..]

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Forex Market Review (Asian Session) – Euro maintains strong momentum; dollar pressured on healthcare bill

Posted on June 28, 2017 at 7:58 am GMT

In a quiet data day for many Asian countries, the forex market continued to ride on yesterday’s wave of several key events and speeches during the Asian trading session. The euro continued to build on its positive momentum against the dollar, following European Central Bank President’s bullish take on the eurozone economy. The dollar had a setback against the yen amid the postponed voting on the healthcare bill in the US Senate. The euro maintained its upward trend against the [..]

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Forex Market Review (European Session) – Draghi’s optimism lifts euro; dollar above 112 yen ahead of Yellen; sterling firms

Posted on June 27, 2017 at 3:00 pm GMT

The forex market was mostly driven by central bank speeches in today’s European session. The euro was boosted on the optimistic remarks by the European Central Bank President Mario Draghi. The pound advanced following the release of the Financial Stability Report and the speech by Bank of England Governor Mark Carney. The dollar firmed up on the strong consumer confidence data, as markets await Janet Yellen’s talk later today. The ECB President’s bullish stance on the recovery in the Eurozone [..]

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Forex Market Review (Asian Session) – Central bank speeches in focus; euro eases on Draghi; dollar awaits Yellen; gold recovers

Posted on June 27, 2017 at 7:59 am GMT

As the Asian markets were closing for the day, major currencies were mostly range-bound in a relatively quiet session due to few data releases and ahead some of the key events scheduled for later in the day. European Central Bank President Mario Draghi will speak shortly at the ECB Forum on Central Banking in Portugal. Bank of England Governor Mark Carney is scheduled to speak following the release of the BoE’s Financial Stability Report, while Federal Reserve Chair Janet Yellen will be speaking [..]

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Forex Market Review (European Session) – Dollar falls on durable goods miss; sterling boosted on DUP deal; gold declines

Posted on June 26, 2017 at 3:05 pm GMT

The main economic releases during today’s European session pertained to durable goods orders out of the US and the Ifo business sentiment survey out of Germany. Beyond these, gold experienced a considerable decline and sterling received a boost after UK Prime Minister struck a deal with Northern Ireland’s Democratic Unionist Party which would support her minority government. In US economic releases, durable goods orders fell by 1.1% in May. This negatively compares to the 0.6% drop expected and exceeds April’s [..]

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Technical Analysis – GBPUSD looking less bearish but remains below 50-DMA

Posted on June 26, 2017 at 2:16 pm GMT

GBPUSD has rebounded from last week’s 2-month low of 1.2588 and is on track to make a fourth straight session of gains today. The RSI has risen steadily over the past week to climb close to the 50-neutral level but remains below it, pointing to a neutral to bearish bias in the near term. If the pair continues to build on the past week’s upside momentum, resistance will likely come at around the 1.2775 level, which has been a previous [..]

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Forex Market Review (Asian Session) – Euro holds despite Italian banking bailout news; dollar remains weak on hike odds

Posted on June 26, 2017 at 7:51 am GMT

It was a relatively quiet start to the week for forex markets, as many Asian countries were closed because of the end of Ramadan. The euro mostly held onto the gains it made before the weekend despite the news that the Italian government was going to rescue two of the country’s regional lenders at the tune of 17 billion euros. Italian banking woes were seen as contained for now, given the positive political developments and the relative strength of the [..]

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