Daily Market Analysis

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Forex Market Review (European Session) – Weaker euro after German inflation misses estimates; Q4 US GDP revised upwards

Posted on March 30, 2017 at 2:45 pm GMT

The final estimate of fourth quarter GDP and jobless claims out of the US, as well as March German inflation and data pertaining to sentiment in the eurozone economy, including consumer confidence, were released today. Besides economic releases, the dollar was again edging higher today. The dollar index, which gauges the greenback’s strength relative to six major US trade partners, continued climbing today, though moderately. The index is partly pushed higher due to the dollar gaining momentum versus the euro, [..]

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Forex Market Review (Asian Session) – Dollar broadly stronger on positive Fed rate hike outlook; pound steady after Article 50 trigger

Posted on March 30, 2017 at 7:47 am GMT

The dollar index rose on the positive outlook for US interest rates while the euro remained under pressure on ECB-related headlines. Sterling was stable after a big dip earlier in the week ahead of the triggering of Article 50 that took place yesterday. The US currency benefitted from some upbeat rhetoric from Federal Reserve officials who support further rate hikes. While the consensus is for a total of three increases in the interest rate this year, Boston Fed President Eric [..]

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Forex Market Review (European Session) – Brexit dominates investor attention; Sterling resilient

Posted on March 29, 2017 at 3:43 pm GMT

There were some data releases today, particularly out of the UK as well as pending home sales numbers for the US, but those were shrugged off by investors for the most part as the highlight of the day was the triggering of Article 50 for the UK to officially move ahead with the process of exiting the European Union. British Prime Minister Theresa May’s triggering of Article 50 today marks a historic moment for the UK as the nation will [..]

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Forex Market Review (Asian Session) – Sterling weakens as UK starts Brexit process, dollar jumps on Fed rhetoric

Posted on March 29, 2017 at 7:35 am GMT

The pound was one of the worst performing major currencies during forex trading in Asia today, as the UK is set to trigger Article 50. The dollar was broadly stronger after a report showed US consumer confidence jumped to a 16-year high. British Prime Minister Theresa May has already signed the letter to initiate the formal process of leaving the EU on March 29, formally beginning two years of talks . Uncertainty surrounding the process weighed on sterling, pushing it lower [..]

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European Session – Dollar stable; FOMC officials, including Yellen, in focus

Posted on March 28, 2017 at 3:17 pm GMT

Currency markets were in consolidation mode for the most part during today’s European session trading with major currency pairs not much changed from the levels they closed yesterday. Better-than-expected consumer sentiment did allow the dollar to advance a bit relative to other currencies. The dollar index was little changed relative to where it started the day, but above the 99 level and yesterday’s low which marked one of the lowest levels for the index since Donald Trump won the US [..]

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Asian Session – Dollar stabilizes after drop to 4-month low against yen; pound in focus ahead of Brexit talks commencing

Posted on March 28, 2017 at 7:58 am GMT

The dollar stabilized today after sliding to a four-month low against the yen in reaction to news of the setback on healthcare reform. Investors have now shifted their attention to US President Donald Trump’s other policies with regards tax cuts and infrastructure spending. The market’s disappointment eased as focus now turns back to US economic growth showing signs of improvement while the Federal Reserve is firmly on a path of rate hikes, albeit gradual. Chicago Fed President Evans, speaking yesterday, reiterated [..]

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European Session – Dollar index below 99 on Trump reform concerns; index lowest in four months

Posted on March 27, 2017 at 3:04 pm GMT

In today’s European session the dollar continued declining on the back of Friday’s failed attempt by the Trump administration to repeal the previous administration’s Affordable Care Act (ACA), widely known as Obamacare. In terms of economic data, the Ifo surveys measuring business morale in Europe’s biggest economy, Germany, all exceeded expectations. The dollar index fell below the 99 level for the first time since November 11 to reach 98.86 and was last down seven-tenths of a percent relative to Friday’s [..]

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Asian Session – Dollar falls across the board, gold rallies after new US healthcare bill fails to pass

Posted on March 27, 2017 at 7:31 am GMT

The dollar fell across the board and gold rallied as risk aversion in the markets increased demand for safe haven assets after news that the US House of Representatives failed to pass legislation that would reform the American healthcare system. Repealing and replacing Obamacare was one of Trump’s major election campaign promises and his inability to pass the new healthcare bill is raising concern on whether his other more important plans on tax cuts and stimulus measures will get executed [..]

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European Session – Euro rises above $1.08 after PMIs, dollar struggles on jitters ahead of US healthcare vote

Posted on March 24, 2017 at 4:03 pm GMT

The main focus of the markets was the healthcare bill in the United States, where the House of Representatives is set to vote on repealing and replacing Obamacare. With a lot of political wrangling within the Republican party that resulted in delaying the vote, US President Donald Trump announced yesterday he just wants to get on with the vote and proceed to more important legislation on tax reform and stimulus spending. The dollar has been little changed on the day, [..]

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Asian Session – Dollar edges up above 111 yen ahead of healthcare vote in US House

Posted on March 24, 2017 at 8:06 am GMT

The dollar was slightly higher in Friday’s Asian session, halting a nine-day slide against the yen, as US Treasury yields rose. Markets received some clarity on the US House of Representatives vote on the new healthcare bill that would repeal and replace Obamacare. The vote that was due on Thursday was postponed for Friday. Earlier in the week, the dollar came under pressure and US stock markets tumbled over concerns that President Trump won’t be able to get the bill [..]

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