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US Open Preview – Pound faces headwinds as UK unemployment rate rises; Fed meeting minutes pending

Posted on February 21, 2018 at 12:00 pm GMT

Here are the latest developments in global markets: FOREX: Although British average earnings (excluding bonuses) in January appeared stronger than expected, reaching the highest growth in a year, pound/dollar eased to a one-week low of 1.3913 (-0.51%) as the unemployment rate rose surprisingly for the first time since June 2015 in the three months to December. In Brexit news, more than 60 Conservative members wrote a letter to the UK Prime Minister, Theresa May, demanding a clean exit from the [..]

US Open Preview – Dollar trapped in negative sentiment; European stocks set for weekly gains

Posted on February 16, 2018 at 12:30 pm GMT

Here are the latest developments in global markets: FOREX: Despite rising US Treasury yields, the dollar was under pressure against its major peers, with traders attributing the phenomenon to concerns surrounding a potential ballooning US debt and the expectations that other central banks could start raising rates amid higher inflation prospects. Dollar/yen tumbled to a fresh one-year low of 105.54 during the Asian session before it inched up to 106.17 (-0.04%) in early European trading. The dollar index was struggling to [..]

US Open Preview – Dollar slips on banana peel as safe-havens cheer; European stocks lose ground

Posted on February 13, 2018 at 12:18 pm GMT

Here are the latest developments in global markets: FOREX: In currency markets, stronger-than-expected inflation figures in the UK justified the Bank of England’s potential plans to raise interest rates faster than expected, pushing pound/dollar towards a four-day high of 1.3923 (+0.49%). Pound/yen, though, recovered slightly to 149.62 but remained down on the day (-0.46%) as a rising yen weighed on the pair. Dollar/yen stretched down towards a new five-month trough of 107.41 (-0.97%) and dollar/swissie retreated to a one-week low of 0.9328 [..]

US Open Preview – European equities broadly in the green; Wall Street looks set to open higher

Posted on February 12, 2018 at 12:04 pm GMT

Here are the latest developments in global markets: FOREX: The US currency remained lower on the day, with its broader gauge, the dollar index, being down by 0.3% around midday. The euro and sterling were advancing versus the greenback, after declining notably in the preceding week and recording multi-week lows. Specifically, euro/dollar shed 1.6% during the week ending February 9, experiencing its worst weekly performance since November 2016. Euro/dollar and pound/dollar were up by 0.3% and 0.2% at 1.2269 and 1.3869 respectively. [..]

US Open Preview – Euro, pound down as European stocks recover; kiwi slips ahead of RBNZ rate decision

Posted on February 7, 2018 at 12:15 pm GMT

Here are the latest developments in global markets: FOREX: The yen extended its uptrend against the dollar, sending dollar/yen lower to 109.10 as investors maintained their risk-averse behavior after the recent sell-off in stock markets. The dollar index, though, was building positive momentum on the back of a weaker euro and pound, climbing to 89.87 (+0.33%). Euro/dollar slipped to 1.2342 (-0.30%) and pound/dollar weakened to 1.3872 (-0.44%) after the ECB board member, Sabine Lautenschlaeger questioned whether the transitional period after Brexit will “really [..]

US Open Preview – Dollar rallies versus yen on inflation prospects; European stocks rebound

Posted on February 1, 2018 at 12:09 pm GMT

Here are the latest developments in global markets: FOREX: Dollar/yen stretched towards a one-week high of 109.74 (+0.51%) during early European trading after the FOMC statement highlighted yesterday that the US inflation is expected to “move up this year”. However, the dollar index inched down to 89.00, remaining near 3-year lows, on the face of a strengthening euro and pound. Euro/dollar crawled up to 1.2450 (+0.14%) amid prospects that the ECB will reduce monetary stimulus this year and pound/dollar was on track to post [..]

US Open Preview– Euro thrives on political relief; US CPI & retail sales awaited

Posted on January 12, 2018 at 12:42 pm GMT

Here are the latest developments in global markets: FOREX: Hopes that the ECB will step back from its monetary stimulus and bets that Germany will form a grand coalition government soon added further gains to the euro during early European trading hours. Merkel’s Conservatives and their former coalition partners Social Democrats agreed today on a blueprint to formally start coalition negotiations. Euro/dollar rallied to a three-year high of 1.2136 (+0.76%), euro/yen surged to 134.78 (+0.64%) and euro/pound remained flat at 0.8891. The dollar index [..]

US Open Preview – Excluding antipodeans, greenback remains in the green; US jobless claims & producer prices in focus

Posted on January 11, 2018 at 12:18 pm GMT

Here are the latest developments in global markets: FOREX: The US currency remained in the green relative to most majors though it – for the most part – gave up on a portion of gains made earlier in the day. The dollar index traded 0.1% higher at 92.45. The antipodean currencies were the ones advancing notably relative to the greenback, tracking fresh multiweek highs versus the US currency. Aussie/dollar was 0.3% up, after previously touching 0.7886, a level last reached [..]

US Open Preview – Euro loses ground but remains above $1.20; FOMC minutes awaited

Posted on January 3, 2018 at 12:09 pm GMT

Here are the latest developments in global markets: FOREX: The dollar posted some gains to climb further above a 3½-month low versus a basket of currencies hit on Tuesday. The euro eased versus the greenback despite the release of positive jobs data out of Germany, while pound/dollar lost some ground following the release of construction PMI figures that came in below analysts’ expectations; the pair previously crossed above the 1.36 handle to record its highest since late September. STOCKS: European [..]

US Open Preview– Dollar index tumbles to 3-month low; FTSE at fresh record highs

Posted on December 29, 2017 at 11:21 am GMT

Here are the latest developments in global markets: FOREX: The dollar index stretched its downtrend toward a fresh three-month low of 92.34 (-0.26%) as investors stood less confident on the outlook of the US economy, while gains in the euro and the pound pressured the index even further. Euro/dollar hit a three-month high of 1.1986 (+0.33%) and pound/dollar (+0.41%) surged to a three-week high of 1.3511. The kiwi, the aussie and the loonie drifted higher relative to the greenback to levels last seen in October. STOCKS: [..]

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