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European Open Preview – Dollar, yen bolstered amid risk aversion; UK employment data coming up

Posted on November 13, 2018 at 8:47 am GMT

Here are the latest developments in global markets: FOREX: The dollar is flat against a basket of six major currencies on Tuesday, holding on to the sizeable gains it recorded in the previous session, when it touched a fresh 17-month high. The yen was the second-best performer to start the week, behind the dollar, amid broad-based risk aversion in markets that fueled demand for defensive assets. Meanwhile, the euro underperformed even the pound, with euro/sterling increasingly becoming a function of which [..]

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European Open Preview – Dollar sails past 16-month highs; Brexit and Italy cast shadows on sterling and euro

Posted on November 12, 2018 at 8:45 am GMT

Here are the latest developments in global markets: FOREX: The dollar soared to fresh 16-month highs against a basket of six major currencies on Monday, building on its gains from Friday, even without any fresh catalyst or news out of the US. Instead, the greenback seems to be taking advantage of softness in the pound and euro, amid Brexit and Italian uncertainties respectively. Elsewhere, the commodity-linked currencies retreated, with the loonie feeling the brunt of the pain as oil prices [..]

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European Open Preview – Dollar cruises higher after FOMC; UK GDP in the spotlight

Posted on November 9, 2018 at 8:46 am GMT

Here are the latest developments in global markets: FOREX: The dollar is little changed against a basket of six major currencies on Friday (+0.06%), consolidating the gains it recorded in the previous session as the Fed signaled it remains on track to meet its rate-path projections. Meanwhile, the defensive yen is outperforming, as risk appetite seems to have soured once again. In Canada, the loonie continued to track oil prices lower, touching a fresh two-month low against the dollar. STOCKS: Wall Street [..]

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European Open Preview – Dollar bounces back after midterms and ahead of Fed decision

Posted on November 8, 2018 at 8:42 am GMT

Here are the latest developments in global markets: FOREX: The dollar index pared early losses to close the day higher on Wednesday and is also up by 0.27% on Thursday, drawing strength from a surge in US bond yields, which amplifies the dollar’s attractiveness from a relative rates perspective. In the UK, the pound extended its recent gains as Brexit optimism remained elevated. Meanwhile, the antipodeans – aussie and kiwi – outperformed, buoyed by strong risk appetite, speculation that the trade [..]

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European Open Preview – Split Congress keeps dollar bulls sidelined; RBNZ decision looms

Posted on November 7, 2018 at 8:44 am GMT

Here are the latest developments in global markets: FOREX: The dollar is lower by 0.28% against a basket of six major currencies on Wednesday, weighed down by the results of the US midterm elections, which produced a split Congress – dampening the prospect for any further tax cuts. Meanwhile, the pound continued its Brexit-induced march higher, while the kiwi dollar soared overnight, after a surprisingly strong employment report out of New Zealand. STOCKS: Wall Street closed in the green on Tuesday as [..]

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European Open Preview – Dollar little changed ahead of US congressional elections

Posted on November 6, 2018 at 8:34 am GMT

Here are the latest developments in global markets: FOREX: The dollar was marginally higher versus a basket of currencies on Tuesday, after losing around 0.3% the previous day. Traders will be eyeing the US congressional elections as a potential driver for the world’s reserve currency during today’s trading. STOCKS: Wall Street finished the day mixed on Monday, with the Dow Jones (+0.76%) and the S&P 500 (+0.56%) advancing and the tech-heavy Nasdaq Composite (-0.38%) edging lower; Apple, Amazon, Google-parent Alphabet and Facebook were [..]

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European Open Preview – Sterling outperforms on Brexit news; UK services PMI due

Posted on November 5, 2018 at 8:47 am GMT

Here are the latest developments in global markets: FOREX: The dollar was down by 0.1% versus a basket of currencies on Monday after rising on Friday, when the US saw the release of a robust October jobs report. Sterling outperformed even though it gave up part of its earlier gains, being helped by positive Brexit news. STOCKS: Wall Street finished lower on Friday, with the Dow Jones (-0.43%), the S&P 500 (-0.63%) and the Nasdaq Composite (-1.04%) all unable to extend Thursday’s [..]

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European Open Preview – Pound bulls unleashed; US jobs data in the spotlight

Posted on November 2, 2018 at 8:46 am GMT

Here are the latest developments in global markets: FOREX: The dollar index dropped significantly on Thursday and is a little lower on Friday too (-0.15%). The world’s reserve currency likely suffered as investors locked in profits on their prior dollar-long bets, ahead of the all-important US employment data today. Meanwhile, the British pound skyrocketed, gaining around 2% against the dollar, amid growing optimism that a Brexit deal is inching closer. The antipodeans aussie and kiwi also soared, probably as some [..]

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European Open Preview – Sterling soars on news of Brexit services deal, ahead of BoE policy decision

Posted on November 1, 2018 at 8:46 am GMT

Here are the latest developments in global markets: FOREX: The dollar index is down by a little more than 0.4% on Thursday, looking set to post its first daily decline in four sessions. The British pound, and to a lesser extent the euro, benefited from reports that UK financial services firms will continue to have access to EU markets after Brexit. Meanwhile, the antipodeans aussie and kiwi outperformed, likely lifted by the broader improvement in risk sentiment, as well as fresh [..]

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European Open Preview – Dollar soars to 1½-year highs; eurozone flash inflation eyed

Posted on October 31, 2018 at 8:45 am GMT

Here are the latest developments in global markets: FOREX: The dollar soared to a fresh high last seen in June 2017 against a basket of six major currencies, as risk sentiment was reinvigorated. The pound was the worst performer, as ratings agency S&P warned of a recession in case of a no-deal Brexit. The defensive yen was the second-worst performer in the face of stronger risk appetite. Meanwhile, the aussie is on the back foot on Wednesday, giving back some of [..]

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