Forex Market Review (European Session) – Dollar falls on durable goods miss; sterling boosted on DUP deal; gold declines

Posted on June 26, 2017 at 3:05 pm GMT

The main economic releases during today’s European session pertained to durable goods orders out of the US and the Ifo business sentiment survey out of Germany. Beyond these, gold experienced a considerable decline and sterling received a boost after UK Prime Minister struck a deal with Northern Ireland’s Democratic Unionist Party which would support her minority government. In US economic releases, durable goods orders fell by 1.1% in May. This negatively compares to the 0.6% drop expected and exceeds April’s [..]


Forex Market Review (Asian Session) – Euro holds despite Italian banking bailout news; dollar remains weak on hike odds

Posted on June 26, 2017 at 7:51 am GMT

It was a relatively quiet start to the week for forex markets, as many Asian countries were closed because of the end of Ramadan. The euro mostly held onto the gains it made before the weekend despite the news that the Italian government was going to rescue two of the country’s regional lenders at the tune of 17 billion euros. Italian banking woes were seen as contained for now, given the positive political developments and the relative strength of the [..]


Forex News – Eurozone services activity eases in June; euro pulls back from highs

Posted on June 23, 2017 at 11:48 am GMT

Activity across the Eurozone lost some momentum in June, however the region still managed to enjoy its best quarter in six years according to the latest PMI report from IHS Markit. Weaker growth in the services sector led to a drop in the composite PMI, which fell from 56.8 to 55.7 in June’s flash reading. This was below expectations of 56.6 and the lowest in five months. The services PMI also fell to a 5-month low, declining from 56.3 to [..]


Forex Market Review (Asian Session) – Oil-linked currencies gain with the commodity’s rise; dollar retreats

Posted on June 23, 2017 at 7:43 am GMT

As the Asian trading session is coming to a close, the dollar is modestly down while commodity-linked currencies, such as the loonie, are gaining ground versus the greenback on the back of oil rising. The dollar index, a broader gauge of the US currency’s strength, was last down two-tenths of a percent on the day. Dollar/yen was slightly down at 111.25. If it closes the day lower, it would be the fourth consecutive day of declines for the pair. The [..]


Forex Market Review (European Session) – Sterling bounces up on BoE Haldane’s comments; dollar flat; WTI oil gains on EIA

Posted on June 21, 2017 at 3:08 pm GMT

In another relatively quiet European session in terms of economic releases and in similar fashion to yesterday, forex market participants mainly reacted to comments by central banking figures, namely the hawkish remarks by a Bank of England policymaker which helped the pound bounce higher. In terms of the few releases during the day, those that attracted most attention were existing home sales data and the Energy Information Administration’s weekly report on crude stockpiles out of the US. Sterling received a [..]


Forex Market Review (European Session) – Dollar posts one-month high; sterling hurt by Carney; oil at 7-month lows

Posted on June 20, 2017 at 3:06 pm GMT

Today’s European session was lacking major economic releases and as a result forex market traders placed most of their bets in reaction to comments by Fed officials, as well as remarks by Bank of England Governor Mark Carney who drove down expectations of a rate hike coming soon by the Bank. The dollar index, a measure of the greenback’s strength versus the currencies of major US trading partners, rose to a one-month high of 97.79 in today’s trading. The greenback [..]


Forex Market Review (European Session) – Sterling gains on growing rate hike expectations; stronger dollar following Fed

Posted on June 15, 2017 at 2:45 pm GMT

The Bank of England coming closer to an interest rate increase shocked currency market participants today, who reacted by placing long sterling positions and thus boosting the currency. The dollar stood stronger today following a more hawkish than expected Fed. The Bank of England left rates unchanged at the record-low 0.25% upon completion of today’s meeting. However, three of the eight Monetary Policy Committee (MPC) members on the Bank’s board decided to support a rate hike, taking markets by surprise [..]


Forex News – Sterling jumps after hawkish BoE; rate hikes could come sooner

Posted on June 15, 2017 at 2:41 pm GMT

The pound jumped after the Bank of England (BoE) policy announcement today, erasing earlier losses against the dollar. The BoE was more hawkish-than-expected and the Monetary Policy Committee (MPC) vote count indicated a surprisingly tight decision. The Bank left its benchmark interest rate unchanged at a record low 0.25%. While this was widely expected, the 5 – 3 vote for a rate hike was not anticipated, suggesting the central bank was coming closer to raising rates. The result sent sterling [..]

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