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US Open Preview – Pound extends downside; aussie bounces ahead of RBA rate decision

Posted on September 3, 2018 at 11:45 am GMT

Here are the latest developments in global markets: FOREX: Sterling opened with a gap down on Monday’s Asian session after EU chief Brexit negotiator Michel Barnier said he strictly opposes the UK’s offer on future EU-UK trade relations. Pound/dollar, which has come off from a 1-month high last week, recorded the fifth red month in a row. Today, the pair dipped by 0.64% and slipped below the 1.2900 handle, increasing negative momentum after the UK manufacturing PMI clocked in at 52.8 in August, [..]

US Open Preview – Trade fears hold major currencies in the red; loonie weakens as NAFTA deadline looms

Posted on August 31, 2018 at 11:59 am GMT

Here are the latest developments in global markets: FOREX: Trump’s stubborn stance the previous day aiming to enhance US’s trade protective measures against China and keep the pressure on the EU, shifted funds away from riskier assets, pushing dollar/yen down to 110.78 (-0.16%) and dollar/franc to 0.9666 (-0.23%). The dollar index, which is set to close in the red for the third consecutive week, was slighlty up at 94.80 (+0.08%) as the euro and the pound felt the trade pain as well. Euro/dollar inched down to 1.1647 [..]

US Open Preview – Pound’s rally takes a breather after Barnier’s cautious remarks; US core PCE inflation pending

Posted on August 30, 2018 at 11:51 am GMT

Here are the latest developments in global markets: FOREX: Pound/dollar stalled yesterday’s rally, trading at 1.3016 (-0.08%) as the EU’s Brexit negotiator Michel Barnier talked down expectations of a Brexit deal today, saying that the bloc must be prepared for a “disorderly” exit. His comments came a day after he said that the UK could be offered a special partnership “such that has never been with any other country”. Euro/dollar was struggling to overcome the 1.1700 level, last seen at 1.1694 (-0.09%) [..]

US Open Preview – Dollar consolidates losses; NAFTA developments eyed

Posted on August 27, 2018 at 11:38 am GMT

Here are the latest developments in global markets: FOREX: The dollar’s index against a basket of currencies remained higher on the day, though only slightly so, consolidating for the most part last week’s notable declines which largely came on the back of Trump’s Fed-hiking criticism and Fed chief Powell’s perceived-dovish message at Jackson Hole on Friday. Dollar/yen was 0.1% lower, trading roughly 40 pips below Friday’s three-week high of 111.48. Euro/dollar was marginally down. The pair pared some of its [..]

US Open Preview – Dollar loses ground ahead of Powell’s Jackson Hole speech; oil rallies

Posted on August 24, 2018 at 12:31 pm GMT

Here are the latest developments in global markets: FOREX: Dollar/yen pulled back below a two-week high of 111.48 reached early today, falling to 111.30, near Thursday’s close price ahead of Powell’s Jackson Hole speech. The dollar index, which measures the dollar’s strength against six major currencies was also in a bearish move, printing losses towards 95.33 (-0.34%) as the euro and the pound strengthened. Euro/dollar stood higher at 1.1585 (+0.42%), helped by solid GDP growth data out of Germany, and pound/dollar [..]

US Open Preview – Dollar modestly down ahead of US-Chinese trade talks and FOMC minutes; oil advances

Posted on August 22, 2018 at 11:12 am GMT

Here are the latest developments in global markets: FOREX: Both dollar/yen and the dollar index, which gauges the dollar’s strength versus six major currencies were not much changed, fluctuating around 110.40 (-0.02%) and 95.14 (-0.12%) respectively before the widely expected trade talks between China and the US begin later today. Meanwhile, there’s a political noise in the US as two former associates to the US president were declared to be guilty of financial crimes on Tuesday. Yet, the markets largely ignored the news. FOMC meeting minutes due later today could bring [..]

US Open Preview – Dollar index under pressure after Trump’s Fed criticism

Posted on August 21, 2018 at 11:29 am GMT

Here are the latest developments in global markets: FOREX: The dollar index continued to trade lower early in the European session, weighed by comments made by the US President late on Tuesday who said that he is “not thrilled” about the central bank’s decision to raise interest rates this year as his administration is making efforts to reduce trade deficit and higher interest rates combined with a stronger dollar would limit export growth. He also accused China and the Eurozone of manipulating their currencies; the response from the [..]

US Open Preview – Euro weakens as Turkish risks remain in the background; attention on trade

Posted on August 20, 2018 at 11:52 am GMT

Here are the latest developments in global markets: FOREX: Dollar/yen continued to pare Friday’s losses, last seen at 110.62 (+0.13%), while the dollar index, which gauges the dollar’s strength versus six major currencies, was also in recovery mode, trading at 96.30 (+0.21%), helped by a weaker euro and pound. Euro/dollar was on the back foot at 1.1422 (-0.15%), after rising softly the past two days, with investors worrying that the political turmoil between the US and Turkey could weigh on the Eurozone’s banking sector. On Monday, the [..]

US Open Preview – Pound shrugs off stronger retail sales as Brexit talks resume

Posted on August 16, 2018 at 11:15 am GMT

Here are the latest developments in global markets: FOREX: Investors continued to look for riskier assets early in the European session on hopes that US-Sino trade tensions could deescalate following Beijing’s willingness to hold trade talks with the US later in August. Dollar/yen inched up to 110.90 (+0.15%), while the dollar index which gauges the greenback’s strength against six major currencies turned slightly lower to 96.59 (-0.11%) as trade hopes shifted some demand towards the euro. Still, trade stats out [..]

European Open Preview – Hopes for US-China trade negotiations boost sentiment; Brexit talks and key data on the agenda

Posted on August 16, 2018 at 7:46 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is lower by a little over 0.2% on Thursday, pulling back after touching a new 13-month high in the previous session, aided by risk aversion and encouraging US retail sales prints. The Japanese yen is also on the retreat, after news that the US and China will hold another round of trade talks in late August curbed demand for haven assets. STOCKS: Wall Street closed in the red on Wednesday, as [..]

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