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European Session – Dollar surges on strong ADP jobs data; Pound steadies after UK budget

Posted on March 8, 2017 at 3:49 pm GMT

Expectations about the pace of Fed rate hikes once again dominated European trading on Wednesday after robust US data underlined the case for near-term monetary tightening. The US dollar surged well past 114 yen on the data, while the British pound was able to find some support from the UK government’s first full budget after Brexit. After a slow start to the day, the dollar reversed gear to become the strongest performing currency by late European session. The greenback was [..]

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European Session – Dollar advances despite worsening trade gap

Posted on March 7, 2017 at 4:13 pm GMT

The dollar was broadly stronger today relative to major counterparts though, with the exception of pound / dollar, its gains were moderate and evenly spread. US and Canadian trade data, as well as Eurozone GDP numbers were on investors’ radar today. US trade data for January showed that the trade deficit rose to a near five-year high as increasing oil prices lifted the import bill for the US. This hints that net exports, a component in the calculation of GDP, would [..]

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Asian Session – Aussie rises after RBA; greenback steady as markets eye risk events

Posted on March 7, 2017 at 8:23 am GMT

It was a relatively quiet Asian session with most currencies trading in a range as investors were cautious ahead of upcoming risk events such as this week’s US jobs report and the March 14-15 Federal Reserve policy meeting, while political uncertainties in Europe also led to a lackluster session. The Australian dollar was the best performing major currency after the Reserve Bank of Australia held interest rates steady and maintained an optimistic view on the economy. The main cash rate [..]

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European Session – Euro hurt by never ending French presidential drama; US jobs report to cement rate hike

Posted on March 6, 2017 at 3:50 pm GMT

In the absence of economic data releases, barring the Eurozone Sentix investor confidence index and factory orders out of the US, market participants’ attention remained on geopolitical tensions and on the last piece of the puzzle to cement an interest rate hike during the FOMC meeting scheduled to take place next week, namely Friday’s nonfarm payrolls report. The dollar index, which tracks the greenback’s performance against the currencies of six major trading partners, was back up today after experiencing a [..]

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Asian Session – Yen strengthens on safe haven demand

Posted on March 6, 2017 at 8:37 am GMT

Risk aversion due to geopolitical concerns weighed on markets during Monday’s Asian session. The yen was stronger as investors moved into safe havens following news of a North Korean missile launch. The dollar slipped against the yen in Asian session trading to reach a low of 113.65, moving further off last week’s high of 114.74 when then greenback was boosted on growing expectations of an interest rate hike by the Federal Reserve this month. The dollar index was down 0.1 [..]

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European Session – Euro strengthens as Macron rises in the polls; Yellen in focus

Posted on March 3, 2017 at 4:50 pm GMT

Today’s European session was a relatively quiet one in terms of economic data with market participants mostly focusing on what’s to come later in the day, namely Fed Chair Janet Yellen’s speech in Chicago. Services PMI data, including the composite one for the Eurozone did gather some attention though. The US non-manufacturing PMI for February came in at a healthy 57.6, surpassing expectations and January’s 56.5. The figure points to growth in the services sector for the eighty-fifth month in [..]

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