All Articles Tagged - gold

Forex Market Review (European Session) – Dollar’s weekly losses cut down by solid employment report

Posted on August 4, 2017 at 2:48 pm GMT

The July employment report provided much-needed relief to the beleaguered greenback on Friday, while the pound continued to lose ground on fears the Bank of England would keep rates near record lows for longer. The main highlight of the day was the July jobs numbers out of the United States. The market is keeping a close eye on US economic numbers as they will likely determine whether an additional Fed rate hike will take place by the end of the [..]

Forex Market Review (European Session) – Pound slumps after BoE lowers UK outlook; dollar slips on weak ISM

Posted on August 3, 2017 at 3:00 pm GMT

The pound was the worst performing major currency in forex markets during today’s European session as it tumbled after the Bank of England downgraded its growth and inflation forecasts. The euro was steady against the US dollar but surged against the pound, while the greenback came under pressure from a weak ISM PMI. The Bank of England decided to hold rates unchanged at 0.25% at the end of its two-day policy meeting today. But the 6-2 vote was less hawkish [..]

Forex Market Review (European Session) – Sterling at fresh 10½-month high ahead of BoE; dollar close to 15-month lows

Posted on August 2, 2017 at 3:04 pm GMT

Today’s European session was a rather quiet one in terms of data, with forex market participants focusing on the number of jobs added by the US private sector in the preceding month, July construction PMI numbers for the UK and June eurozone producer prices. The dollar remained close to the multi-month lows from previous sessions. In the US, the ADP report showed private employers adding 178,000 positions in the economy during July. This negatively compares to expectations for 185,000 additions, [..]

Forex Market Review (Asian Session) – Asian currencies weaken against dollar as euro, sterling firm up; oil under pressure

Posted on August 2, 2017 at 7:26 am GMT

As traders in Europe were about to start the day, the dollar managed to retrace some of its losses against Asian currencies. However, the dollar index was moderately down at 93.01 as the euro and sterling strengthened. A weak labor market drove the New Zealand dollar lower during the Asian session, as the figures curbed the possibility of a shift in the central bank’s neutral guidance on monetary policy. Change in employment fell 0.2% in the second quarter, faring worse than the expected 0.7% expansion and well [..]

Forex Market Review (European Session) – Dollar weakness unfolds; sterling gains on manufacturing rebound

Posted on August 1, 2017 at 2:51 pm GMT

Today’s busy schedule of economic data releases kept forex traders active, following significant dollar moves last night. The US currency retraced some of the losses against most of its peers during the early European trading, but those gains were short lived as the greenback’s weakness unfolded ahead of the construction spending and PMI data releases. The European session kicked off with a set of PMIs out of the eurozone and its member countries, followed by the eurozone GDP figures for [..]

Forex Market Review (European Session) – Dollar edges up in quiet trading; euro unmoved by flash CPI data

Posted on July 31, 2017 at 3:00 pm GMT

Major currencies were steady in European trading on Monday as risk aversion and central bank meetings later in the week kept investors on the sidelines despite some key data releases. The US dollar inched higher against most other currencies but was weaker against the Japanese yen. The euro saw a mixed response to flash inflation numbers out of the Eurozone, while the pound held near last week’s 10-month highs ahead of ‘Super Thursday’. Fresh geopolitical tensions gave rise to some [..]

Forex Market Review (European Session) – Dollar continues declining after robust growth; loonie eyes fresh high

Posted on July 28, 2017 at 3:05 pm GMT

Second quarter US GDP estimates dominated investors’ attention during today’s European session trading. Certain components within the data led to the dollar recording losses as the news became public, though those were short-lived. In other notable releases, Canadian growth figures for May were released today as well. The much-awaited preliminary US GDP estimates for the second quarter of the year showed the economy expanding at an annualized rate of 2.6%, as expected. First quarter growth was revised downwards to 1.2% [..]

Forex Market Review (Asian Session) – Positive eurozone data supports euro; dollar under pressure ahead of GDP figures

Posted on July 28, 2017 at 7:50 am GMT

As Asian traders were about to close the trading week, the dollar was pressured again, with the dollar index falling a tenth-of-a-percent to 93.76. The euro gained as a string of data came in as expected, leaving no room for disappointment. Economic data out of Japan signaled a sustainable growth in the second quarter, underpinning the Bank of Japan’s buoyant economic view. Japan’s economy expanded 1.0% annually in the first quarter, showing positive growth for more than a year. Analysts [..]

Forex Market Review (European Session) – Dollar recoups modestly on hopes of business spending underpinning GDP growth

Posted on July 27, 2017 at 2:43 pm GMT

The dollar somewhat rebounded during the European session with the dollar index up 0.1%. The latest data on durable goods orders, jobless claims and trade balance on goods supported the US currency to retrace some of earlier losses post the Federal Open Market Committee meeting. The euro declined against the greenback by 0.35% as the US session was about to start. Monthly orders for durable goods in the US rose 6.5% last month, expanding at more than double the expected [..]

Forex Market Review (Asian Session) – Fed’s inflation concern weakens dollar; aussie, kiwi at two-year high

Posted on July 27, 2017 at 7:47 am GMT

It was a relatively quiet data day in forex markets prompting traders to dwell over yesterday’s events, namely the Federal Open Market Committee (FOMC) meeting. As a result of the Federal Reserve’s dovish tone, the weakness in the US dollar unfolded, with the dollar index hitting a fresh 13-month low. The Australian and New Zealand dollars jumped to two-year highs as traders sold off the greenback. The Fed confirmed market anticipations of the federal funds rate remaining at the same target [..]

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