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Forex Market Review (European Session) – Dollar weighed by dovish Bullard and Trump controversies

Posted on May 19, 2017 at 2:51 pm GMT

The US dollar only saw temporary relief today and extended lower against a basket of currencies on the back of some dovish comments from St Louis Fed President James Bullard. Meanwhile, the ongoing political tumult in Washington D.C. continued to weigh on the greenback as well today. The dollar index was last down 2% on the week as it fell to its lowest level since Donald Trump’s election victory in November. The greenback’s decline began earlier in the week on [..]

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Forex Market Review (European Session) – Dollar slumps below 112 yen as gold surges; euro and pound extend gains

Posted on May 17, 2017 at 3:04 pm GMT

The US dollar remained under pressure in European trading on Wednesday as the political turmoil in the United States continued to dampen risk sentiment. The yen and the Swiss franc, along with gold, were the main winners from the risk aversion generated by the latest political uncertainty. The euro meanwhile held near its earlier highs and the pound also advanced higher versus the greenback. According to confirmed reports, a memo written by the then-FBI Director James Comey reveals President Donald [..]

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Forex Market Review (European Session) – Euro surges to 6-month high after German ZEW and Eurozone GDP data; benefits from weak dollar

Posted on May 16, 2017 at 2:27 pm GMT

The euro was one of the best performing major currencies after surging on upbeat data out of the Eurozone. The single currency benefitted from a weaker dollar which was hurt by negative reports about the US President and his disclosure of sensitive information to Russian officials. The pound was briefly boosted by strong UK inflation data. The euro rallied to its highest level in six months against the dollar to reach $1.1088, as it was driven higher by upbeat data. [..]

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Forex Market Review (European Session) – Dollar broadly weaker, Loonie hits 2-week high on stronger oil prices

Posted on May 15, 2017 at 3:02 pm GMT

The dollar was broadly weaker amid softer US Treasury yields in the wake of a series of disappointing US economic data. The Canadian dollar was one of the top performing major currencies today, reflecting firmer crude oil prices. Hopes of extending an OPEC production cut deal helped boost the US oil benchmark by 3%. The dollar index extended losses in the European session, driven lower by weaker US economic data. Following Friday’s soft retail sales and CPI releases, the US Empire [..]

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Forex Market Review (Asian Session) – Dollar under pressure; oil jumps on hopes of extending OPEC deal

Posted on May 15, 2017 at 7:45 am GMT

The dollar came under pressure against most major counterparts but rose against the yen. Oil prices jumped higher on expectations that oil production cuts will be extended to next year. The yen was only briefly boosted by geopolitical concerns after news of another North Korean missile test over the weekend. On the economic data front, China released industrial production and investment figures for April, which were disappointing. But markets shrugged off the weak numbers to focus on China’s plan to [..]

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Week Ahead – Inflation and retail sales data to dominate uneventful week; Japan GDP eyed

Posted on May 12, 2017 at 3:01 pm GMT

Inflation data out of the UK, Canada and the Eurozone will be the market’s main focus next week, as will Japanese GDP figures for the first quarter. Important indicators from China will also attract attention, while Australian employment numbers will be on investor’s watch list too. Chinese economic momentum seen easing in April Data out of China will be the highlight at the start of the week as retail sales, industrial output and urban investment figures are released on Monday. [..]

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Forex Market Review (European Session) – Dollar falls after disappointing US CPI and retail sales data

Posted on May 12, 2017 at 2:45 pm GMT

US Treasury yields dropped following disappointing US data releases, which weighed on the dollar. The euro was one of the best performers. US retail sales fell short of analysts’ estimates and consumer price growth slowed in April. The weak data raised concerns that the Fed may not stick to its 3-rate hikes this year, especially since today’s data come after weak first quarter growth. Fed fund futures are now showing a less than 50% probability of the Fed raising rates [..]

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