Daily Market Analysis


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 [..]


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, [..]


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 [..]


European Session – Dollar drifts lower ahead of US healthcare vote but pound up on strong retail sales

Posted on March 23, 2017 at 3:40 pm GMT

There was no reprieve for the US dollar today as the greenback continued to face steep selling pressure on growing doubts about the Trump administration’s ability to push through key legislation in Congress ahead of today’s vote on repealing Obamacare. The dollar was once again testing 111 yen in European trading, while the pound had another strong session, reclaiming the 1.25 level against the dollar after stronger-than-expected UK retail sales data. The debate in the US House of Representatives on [..]


Asian Session – Dollar pauses slide against yen; focus turns to US House vote on healthcare

Posted on March 23, 2017 at 8:45 am GMT

The risk aversion in markets dissipated today and demand for safe havens eased. This helped the dollar make some recovery against the yen, while gold paused its six-day rally. The dollar moved off four-month lows hit against the yen yesterday at 110.72 on investor concerns over US President Trump’s ability to push through his policies on growth and tax reforms. The greenback last traded around 111.20 yen in late Asian session but focus will remain on the currency today as [..]


European Session – Majors hit fresh highs against the dollar; Oil plunges on rising stockpiles

Posted on March 22, 2017 at 3:55 pm GMT

In the absence of significant data releases, barring existing home sales out of the US and oil inventory data from the Energy Information Administration, investors mainly focused on political developments and speculative views on potential moves by numerous central banks to place their positions during today’s European session trading. Looking at the dollar index, a gauge of the US currency’s strength relative to major counterparts, it recorded a seven-week low today, reaching 99.56. This was on the back of market [..]


Asian Session – Dollar slides as investors fear delay in Trump fiscal plans

Posted on March 22, 2017 at 8:39 am GMT

Risk aversion in the markets led to safe haven demand, helping the yen strengthen and the dollar index fall below 100. Sterling was one of the best performing major currencies after UK inflation rose to the highest in over three years. The dollar fell to its lowest level since November 23 against the yen, reaching 111.25 in the Asian session. The dollar index, which gauges the greenback against a basket of six major currencies, slid to 99.72, trading below 100 for [..]


European Session – Pound surges to 3-week high after UK inflation breaks BoE’s 2% target; Euro tests $1.08

Posted on March 21, 2017 at 3:01 pm GMT

The British pound was the best performing major currency in Tuesday’s European session as it was lifted from stronger-than-expected inflation data out of the UK. The euro was another star performer as it benefited from positive developments in the French presidential campaign, while the US dollar continued to drift lower. Annual inflation in the UK jumped to 2.3% in February, beating estimates of a milder increase to 2.1% from January’s 1.8%. This takes the headline rate to the highest since [..]


Asian Session – Euro rallies after French debate; dollar under pressure after Fed speakers

Posted on March 21, 2017 at 8:30 am GMT

The dollar remained soft in Asian trading today as it came under pressure from falling US Treasury yields following not-so-hawkish speeches by Fed officials on Monday. Chicago Fed President Charles Evans diminished hopes for a faster pace of rate hikes after he reiterated the Fed’s message from last week’s FOMC meeting that the pace of interest rate increases will be gradual and the projections were for a total of three hikes this year. Meanwhile, Minneapolis Fed President Neel Kashkari, who [..]


European Session – Pound slips on announcement of date to trigger Article 50

Posted on March 20, 2017 at 3:57 pm GMT

The US dollar index made some recovery during the European session after dipping to a six-week low of 100.02 in the Asian session. The antipodeans outperformed the greenback while the loonie was weaker today due to lower oil prices in the wake of the Baker Hughes oil rig count. The pound fell sharply on news of the Article 50 trigger date. In a relatively quiet day in terms of economic data releases, the main news of the day was the [..]

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