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Asian Session – Dollar attempts rebound but yen underperforms again

Posted on March 29, 2016 at 7:54 am GMT

The US dollar rebounded from Monday’s lows to edge higher in Tuesday’s Asian session. The greenback fell sharply yesterday after disappointing US personal consumption expenditure data which pointed to weak GDP growth in the first quarter of the year. However, trading is likely to remain cautious ahead of a key speech by Fed Chair Janet Yellen later today. The dollar climbed to around 113.65 yen in late Asian trading from a low of 113.14 yen on Monday. The Japanese currency [..]

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Asian Session – Dollar eyes 113 yen as commodities continue to retreat

Posted on March 24, 2016 at 9:12 am GMT

Fed rate hike talk continued to drive the dollar higher on Thursday, helping the dollar index climb to a one-week high of 96.30 during Asian trading. St. Louis Fed President James Bullard was another Fed official to speak this week. In an interview on Bloomberg TV yesterday, Bullard said the Fed runs the risk of overshooting its inflation target. However, he also expressed concern about raising interest rates at a time of weak inflation expectations. The dollar attempted to break [..]

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European Session – Dollar climbs to one-week highs but gold tumbles

Posted on March 23, 2016 at 3:34 pm GMT

European equity markets opened higher on Wednesday as fears of a wider security threat following the Brussels attacks yesterday receded. Helping market sentiment were improved business survey readings for the Eurozone and Germany, which got overshadowed yesterday from the terror attacks. The data included the flash Eurozone PMI numbers for March, which showed the first quarter looks set to end on a more positive note after the dismal start to the year. The dominant theme on Wednesday was the strength [..]

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Asian Session – Fed rate talk lifts dollar as market calm returns

Posted on March 23, 2016 at 9:17 am GMT

The dollar moved higher in Asian trading on Wednesday as risk aversion faded after the initial market reaction to the terror attacks in Brussels on Tuesday that saw a sell-off of risk assets. Stock markets in Asia were muted today as trading winds down ahead of the Western Easter holiday weekend. The greenback climbed against the euro and the pound but was unable to advance beyond yesterday’s rebound versus the yen. The dollar was last trading at 112.37 yen in [..]

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European Session – Euro clings on to 1.11 dollars as equities rebound

Posted on March 11, 2016 at 3:46 pm GMT

European equity markets recovered on Friday following a highly volatile session yesterday as markets digested the ECB’s unexpectedly large and unconventional stimulus measures. Shares in Frankfurt and Paris were up by around 3% in late European trading. London’s FTSE-100 index was up by a more modest 1.5% as mining stocks underperformed. The euro came down from yesterday’s one-month high of 1.1217 dollars and had retreated to 1.1080 dollars in mid-European session before strengthening again to reclaim the 1.11 handle in [..]

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Technical Analysis – Gold extends yearly highs; bias bullish

Posted on March 11, 2016 at 8:05 am GMT

Gold set a new one-year high of 1283.43 today before easing to around 1270. The rally since the start of the year has led to the bullish crossover of the 50-day moving average with the 100- and 200-day moving averages, underlining the current positive bias. Both the RSI and the MACD remain in positive territory, suggesting scope for further gains in the near term. However, with prices moving along the upper Bollinger band for the past week, a short-term correction [..]

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Asian Session – Dollar subdued ahead of NFP; Gold at 1-year high

Posted on March 4, 2016 at 9:37 am GMT

The US dollar hovered near yesterday’s lows when it fell following data from the ISM non-manufacturing composite showing that employment in the services sector fell in February. The greenback extended its slide in early Asian trading to drop to 113.23 yen but rebounded to 113.93 yen in late session. The yen was broadly weaker against other currencies on Friday as steady oil prices provided some risk appetite, taking the shine off the yen’s safe haven appeal. There was also little [..]

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Is last week’s rebound in risk assets for real?

Posted on February 19, 2016 at 3:40 pm GMT

Some technicals The past week has been marked by a strong comeback in risk assets, with the key S&P 500 benchmark rising by around 100 points from its low on February 11.  The fact that US stocks managed to rise three days in a row this week (for the first time this year) was significant, as the lows of the 1800-1820 area held.  The subsequent rally pushed the S&P as high as the 1920-1930 region.  The rebound in the S&P [..]

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