EU50

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European Open Preview – Dollar broadly stronger on Powell’s optimistic remarks; UK inflation eyed

Posted on July 18, 2018 at 7:56 am GMT

Here are the latest developments in global markets: FOREX: The dollar continued gaining versus a basket of currencies on Wednesday after rising by a bit less than 0.5% the previous day. Upbeat comments on the US economy by Fed Chief Jerome Powell acted as the catalyst for the greenback’s advance, as well as fueling risk sentiment. In light of the risk-on mood, the yen retreated, with dollar/yen reaching a fresh six-month high of 113.07 earlier on the day. STOCKS: The [..]

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European Open Preview – Dollar pulls back ahead of Powell’s testimony; UK jobs data in focus

Posted on July 17, 2018 at 7:42 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is lower by 0.14% on Tuesday, ahead of a testimony by Fed Chairman Jerome Powell before the US Senate at 1400 GMT. Elsewhere, kiwi/dollar is up by 0.77%, following encouraging core inflation data out of New Zealand overnight. STOCKS: US markets closed mixed on Monday. While the Dow Jones managed to advance by 0.18%, the S&P 500 and the Nasdaq Composite edged lower by 0.10% and 0.26% respectively. Something similar appears [..]

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US Open Preview – Dollar weakens ahead of US retail sales; oil on the backfoot

Posted on July 16, 2018 at 12:01 pm GMT

Here are the latest developments in global markets: FOREX: The US dollar was trading below the 6-month high of 112.79 today against the Japanese yen, but managed to add some gains to its daily performance (+0.02%) ahead of the release of the US retail sales later in the day. The dollar index, which gauges the greenback’s strength versus six major currencies, moved lower by 0.24%. Pound/dollar rebounded sharply from near the 1.3101 barrier on Friday and drove the price even further to 1.3265 (+0.24%) on Monday. Meanwhile, euro/dollar climbed [..]

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European Open Preview – Pound rebounds ahead of busy week; US retail sales in the spotlight

Posted on July 16, 2018 at 7:47 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is down by 0.1% on Monday, extending the losses it posted in the previous session as longer-term US Treasury yields tumbled. The Japanese yen, meanwhile, is slightly lower against all its major counterparts on Monday, amid a lack of escalation in trade tensions. STOCKS: US markets closed higher on Friday, as trade concerns remained out of the spotlight. The Dow Jones led the way up, gaining 0.38%, while the S&P 500 advanced [..]

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European Open Preview – Yen retreat in full swing amid signs of trade negotiations looming

Posted on July 13, 2018 at 7:40 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is up by almost 0.1% on Friday, building on the gains it posted in the previous session. The yen, meanwhile, is losing ground against all its major counterparts amid an absence of any worrisome news on the trade front, touching a fresh six-month low against the dollar. STOCKS:US markets closed higher on Thursday, buoyed by the absence of an immediate retaliation from China against the latest US tariff salvo, as [..]

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European Open Preview – Oil collapse pushes loonie lower; ECB minutes and US inflation in focus

Posted on July 12, 2018 at 7:43 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is marginally higher on Thursday, attempting to extend the massive gains it posted in the previous session. Dollar/yen is up by 0.21%, having touched a fresh high for the year earlier. Meanwhile, the loonie dropped on Wednesday as oil prices collapsed, erasing the gains it posted after the BoC raised rates, to trade much lower in the aftermath. STOCKS: US markets closed lower yesterday, as trade concerns remained the dominant theme. Some [..]

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European Open Preview – Asian equities tumble as trade tensions intensify; Bank of Canada rate decision eyed

Posted on July 11, 2018 at 7:47 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is practically flat on Wednesday, after posting some very modest gains in the previous session. Commodity-linked currencies like the aussie, kiwi, and loonie, are all lower, following news overnight that the US is planning another set of tariffs against China. STOCKS: US markets closed higher yesterday, with the Dow Jones and S&P 500 rising by 0.58% and 0.35% respectively, while the Nasdaq Composite managed to gain 0.04% as well. However, [..]

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European Open Preview – Sterling dives amid UK political turmoil; UK manufacturing output due

Posted on July 10, 2018 at 7:47 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index is a little more than 0.1% higher on Tuesday, trying to build on the modest gains it posted in the previous session. The British pound nosedived yesterday, following news that UK Foreign secretary Boris Johnson had resigned, with sterling/dollar also being 0.2% lower today. STOCKS: US markets closed higher on Monday, in the absence of any concerning trade-related headlines to dent risk appetite. The Dow Jones outperformed, gaining 1.31%, while the [..]

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US Open Preview – Pound finds some buyers amid “smooth Brexit” speculation

Posted on July 9, 2018 at 11:33 am GMT

Here are the latest developments in global markets: FOREX: Sterling opened with a positive gap today, following news that the UK Brexit Secretary, David Davis, has resigned. UK Prime Minister Theresa May appeared to have agreed with her cabinet on the Brexit plan on Friday. On Monday, pound/dollar advanced by 0.42%, rising to a 3-week high of 1.3362, with Dominic Raab being appointed new Brexit Minister. The US dollar underperformed on Friday and Monday against a basket of six major currencies, as the US jobs report was [..]

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European Open Preview – Sterling in focus as UK Brexit chief resigns

Posted on July 9, 2018 at 7:47 am GMT

Here are the latest developments in global markets: FOREX: The US dollar index – which measures the greenback’s performance against a basket of six major currencies – is down by 0.23% on Monday, following a slightly disappointing US employment report on Friday. Elsewhere, pound/dollar is up by the same amount, after the UK Brexit Secretary David Davis resigned his post. STOCKS: Wall Street indices closed higher on Friday, after the US employment report for June showed that wage growth remains subdued. The tech-heavy Nasdaq Composite [..]