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Forex Market Review (Asian Session) – Oil remains close to 7-month lows; dollar little changed

Posted on June 21, 2017 at 7:35 am GMT

As Asian markets are completing their trading day, the dollar index has eased from yesterday’s one-month high but is still close to that level. In the meantime, WTI and Brent crude didn’t manage to post a rebound after yesterday’s sizable losses. The dollar index, a broader gauge of the greenback’s strength, remains close but below yesterday’s one-month high of 97.87. The greenback was recently supported by key Fed officials communicating that rate normalization should remain on track. Dollar/yen didn’t manage [..]

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Forex Market Review (European Session) – Dollar posts one-month high; sterling hurt by Carney; oil at 7-month lows

Posted on June 20, 2017 at 3:06 pm GMT

Today’s European session was lacking major economic releases and as a result forex market traders placed most of their bets in reaction to comments by Fed officials, as well as remarks by Bank of England Governor Mark Carney who drove down expectations of a rate hike coming soon by the Bank. The dollar index, a measure of the greenback’s strength versus the currencies of major US trading partners, rose to a one-month high of 97.79 in today’s trading. The greenback [..]

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Forex News – Sterling slides after Carney says now not the time for rate hike

Posted on June 20, 2017 at 1:07 pm GMT

The pound came under pressure on Tuesday after the Bank of England Governor, Mark Carney, appeared to rule out a rate hike anytime soon. Speaking at a breakfast event in Mansion House, London, Carney struck a more cautious tone than the surprisingly hawkish language used at the Bank of England’s policy meeting last week. Markets were shocked last Thursday when three Monetary Policy Committee (MPC) voted to raise rates by 25 basis points. The unexpectedly close vote had helped sterling [..]

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Forex Market Review (Asian Session) – Dollar firms on hawkish Fed speakers; sterling in focus ahead of speeches by BoE Governor and UK Chancellor

Posted on June 20, 2017 at 7:32 am GMT

The US dollar was firmer on the back of hawkish comments from Federal Reserve officials. Sterling held onto Monday’s losses as all eyes turn to the mansion House speeches later by Bank of England Governor Mark Carney’s speech and UK Chancellor Philip Hammond. The aussie rose despite mixed RBA minutes. The greenback rose to a 3-week high against the yen at 111.76 as higher US Treasury yields helped lift the US currency. Comments from New York Fed President William Dudley [..]

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Forex Market Review (European Session) – Dollar boosted by hawkish comments from NY Fed President William Dudley; Brexit talks commence

Posted on June 19, 2017 at 3:03 pm GMT

The US dollar was one of the best performing major currencies after receiving a boost from some hawkish comments from New York Federal Reserve President William Dudley. Brexit negotiations are underway in Brussels, which has potential to create a risk event for the pound and the euro. A quiet economic calendar today resulted in relatively little movement in the forex markets. However, investors will remain focused on the Fed speakers this week in the aftermath of last week’s FOMC meeting. [..]

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Forex Market Review (Asian Session) – Euro steady as Macron set to win legislative elections; sterling in focus as Brexit talks begin

Posted on June 19, 2017 at 7:19 am GMT

The euro was supported by news that French President Emmanuel Macron won a majority in Sunday’s legislative elections. Sterling was steady ahead of the start of Brexit talks in Brussels today. In terms of economic data, Japan had a surprise trade deficit in May. The overall trade balance was -203.4 billion yen last month, missing the 76.0 billion yen surplus expected and was below the prior 481.7 billion yen surplus. The yen weakened after the Japanese data. This helped the [..]

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Forex Market Review (European Session) – Dollar falls on weaker-than-expected housing starts, flat on the week

Posted on June 16, 2017 at 2:57 pm GMT

Comparing to yesterday’s European session, today’s was a rather quiet one. Remarks by the Bank of Japan Governor spurred the placing of certain positions by forex market participants early in the session. Data pertaining to Eurozone inflation, as well as releases on homebuilding activity and the University of Michigan’s survey on consumer expectations out of the US kept traders busy throughout the rest of the session. As the European trading day was beginning, the Bank of Japan Governor Haruhiko Kuroda [..]

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