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Forex Market Review (European Session) – Dollar slumps below 112 yen as gold surges; euro and pound extend gains

Posted on May 17, 2017 at 3:04 pm GMT

The US dollar remained under pressure in European trading on Wednesday as the political turmoil in the United States continued to dampen risk sentiment. The yen and the Swiss franc, along with gold, were the main winners from the risk aversion generated by the latest political uncertainty. The euro meanwhile held near its earlier highs and the pound also advanced higher versus the greenback. According to confirmed reports, a memo written by the then-FBI Director James Comey reveals President Donald [..]

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Forex Market Review (Asian Session) – Dollar extends losses on US political concerns; euro rises to $1.11

Posted on May 17, 2017 at 7:40 am GMT

The main focus of the markets in Asia today was on US political concerns as President Donald Trump continued to create controversy. Risk aversion led to a stronger safe haven yen while gold also benefitted from a weaker dollar. The euro rose to a fresh six-month high. A recent batch of soft US economic data has raised doubts about whether the Federal Reserve will raise interest rates at its upcoming meeting in June, as was much hoped for by the [..]

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Forex Market Review (European Session) – Euro surges to 6-month high after German ZEW and Eurozone GDP data; benefits from weak dollar

Posted on May 16, 2017 at 2:27 pm GMT

The euro was one of the best performing major currencies after surging on upbeat data out of the Eurozone. The single currency benefitted from a weaker dollar which was hurt by negative reports about the US President and his disclosure of sensitive information to Russian officials. The pound was briefly boosted by strong UK inflation data. The euro rallied to its highest level in six months against the dollar to reach $1.1088, as it was driven higher by upbeat data. [..]

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Forex News – UK inflation rises more than expected but pound pulls back from highs

Posted on May 16, 2017 at 1:00 pm GMT

Consumer prices in the UK rose more strongly than expected in April as higher air fares pushed the headline inflation to the highest since September 2013. Annual CPI rose from 2.3% in March to 2.7% in April, while core CPI, jumped from 1.8% to 2.4% – the highest since March 2013. Analysts were expecting CPI to increase to 2.6% and for core inflation to rise to 2.2%. Apart from the higher air fares (which was mainly down to the timing [..]

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Forex Market Review (Asian Session) – Dollar weakness persists; euro rises above $1.10; oil holds gains

Posted on May 16, 2017 at 6:49 am GMT

The dollar index fell to a one week low as the greenback continued to weaken against a basket of currencies, following a series of soft US data recently, as well as domestic politics. The euro extended its rally, while oil prices held onto recent gains. The dollar came under pressure yesterday after a surprisingly soft US manufacturing report from the New York Federal Reserve. Meanwhile, an article in the Washington Post that US President Donald Trump divulged highly classified information [..]

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Forex Market Review (European Session) – Dollar broadly weaker, Loonie hits 2-week high on stronger oil prices

Posted on May 15, 2017 at 3:02 pm GMT

The dollar was broadly weaker amid softer US Treasury yields in the wake of a series of disappointing US economic data. The Canadian dollar was one of the top performing major currencies today, reflecting firmer crude oil prices. Hopes of extending an OPEC production cut deal helped boost the US oil benchmark by 3%. The dollar index extended losses in the European session, driven lower by weaker US economic data. Following Friday’s soft retail sales and CPI releases, the US Empire [..]

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Week Ahead – Inflation and retail sales data to dominate uneventful week; Japan GDP eyed

Posted on May 12, 2017 at 3:01 pm GMT

Inflation data out of the UK, Canada and the Eurozone will be the market’s main focus next week, as will Japanese GDP figures for the first quarter. Important indicators from China will also attract attention, while Australian employment numbers will be on investor’s watch list too. Chinese economic momentum seen easing in April Data out of China will be the highlight at the start of the week as retail sales, industrial output and urban investment figures are released on Monday. [..]

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