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European Open Preview – US dollar index near highs as Fed week begins

Posted on December 17, 2018 at 8:14 am GMT

US dollar not far from highs as Fed poised to hike later in the week Risk sentiment under pressure from signs of global slowdown Volatile sterling in wait-and-see mode on possible Brexit holiday pause US dollar keeps most of its gains on robust retail sales The US dollar was helped by a buoyant November retail sales report on Friday, which were in contrast to weaker-than-expected data and business surveys out of Europe and China. A strong consumer should help the [..]

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European Session – Euro firms against dollar; Swedish krona outperforms despite dovish Riksbank

Posted on December 21, 2016 at 3:56 pm GMT

The euro benefited from a weaker dollar and short-covering to climb 0.5% against the US dollar in today’s European session as the greenback continued to drift further away from Tuesday’s 14-year highs. Trading volumes were thin as investors began to wound down ahead of the holiday period. The single currency was trading around 1.0440 dollars in late session, sharply up from yesterday’s 14-year low of 1.0350 dollars. The only data out of the Eurozone was the consumer confidence survey. The [..]

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European Session – Pound under pressure on Brexit uncertainty; Dollar tests 117 yen ahead of Yellen

Posted on December 19, 2016 at 3:39 pm GMT

The British pound came under pressure on Monday as markets grew increasingly concerned about the direction of the UK’s Brexit negotiations with the EU. UK politicians have been hinting recently that they are seeking a transitional agreement that would make it easier for British businesses to adjust to life outside the EU. But there were few signs of a quick settlement for such a deal at last week’s EU summit that was attended by UK PM Theresa May and other [..]

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European Session – Dollar sees some pressure as FOMC meeting gets underway

Posted on December 13, 2016 at 3:45 pm GMT

Market jitters over Fed policy pushed the US dollar down to the 115 yen level in Tuesday’s European session as the FOMC begins its 2-day meeting. The greenback slipped to 114.96 yen before rebounding back above 115 as investors grew nervous over the outlook for future Fed policy, while an expected rate hike of 25bps in the fed funds rate has been almost fully priced in by the futures market. The Federal Open Market Committee will publish its latest quarterly [..]

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European Session – Euro and pound head higher as dollar falls back; Oil holds near highs

Posted on December 12, 2016 at 4:32 pm GMT

The US dollar hit a fresh 10-month high against the yen at the start of European trading on Monday, only to fall back later in the session. The greenback retreated to around 115.40 yen in late European session, having earlier briefly broken above 116 yen for the first time since February. Investor nerves over the Fed’s two-day policy meeting, which starts tomorrow, weighed on the dollar, even as US treasury yields continued to edge higher. Government bonds yields have been [..]

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European Session – Dollar makes new 10-month high vs yen; euro slips below $1.06

Posted on December 9, 2016 at 4:08 pm GMT

The US dollar was back in demand in Friday’s European session as yesterday’s policy decision by the ECB boosted US treasury yields, while the euro sagged. The yen also fell back on the back of broader risk-on sentiment. The ECB’s surprise announcement on Thursday that it will reduce the pace of monthly asset purchases and add lower yielding and shorter-dated bonds to its list of securities continued to weigh on the single currency today. The euro slipped below 1.06 dollars [..]

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Week Ahead – All eyes on Fed; Bank of England, SNB and Norges Bank meet too

Posted on December 9, 2016 at 1:30 pm GMT

After this week’s surprise actions by the ECB, markets will be hoping that central bank meetings over the next seven days won’t stray too far from expectations. Apart from the Fed’s much anticipated FOMC meeting, central bankers from the UK, Switzerland and Norway will also be gathering for their regular policy meetings. In terms of data, inflation and retail sales figures for the UK and the US will be the main highlight. Japanese business outlook expected to improve in Q4 [..]

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European Session – Euro see-saws as ECB shocks by cutting size of bond purchases

Posted on December 8, 2016 at 3:32 pm GMT

The euro’s steady ascent in today’s European session came to an abrupt end after the European Central Bank surprised markets by unexpectedly reducing the size of its asset purchase program. At its latest policy decision, the ECB kept its main interest rates unchanged but defied consensus expectations that it would continue purchasing Eurozone government bonds at a monthly pace of €80 billion, and instead announced it will reduce the size to €60 billion from April 2017. The ECB also surprised [..]

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European Session – Pound slips on weak data, Brexit vote but euro firmer ahead of ECB

Posted on December 7, 2016 at 3:44 pm GMT

Major currencies were struggling for direction in Wednesday’s European session as cautiousness set in ahead of tomorrow’s ECB policy decision and next week’s FOMC meeting. The US dollar and the euro were confined to tight ranges but the pound underperformed as a combination of disappointing data and Brexit developments took their toll on the British currency. The euro benefited from positive risk sentiment brought about by reports suggesting Italy’s third biggest lender will likely receive a state bailout. This eased [..]

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European Session – Euro steadier as Italy remains in spotlight; Dollar slightly firmer

Posted on December 6, 2016 at 3:44 pm GMT

Major currencies were steadier in European trading on Tuesday with the euro and the pound holding near multi-week highs, while the US dollar firmed from yesterday’s 3-week low. The positive risk sentiment from Asia carried forward to the European session with major European stock indices extending Monday’s gains. Reports that the Italian government was preparing a state aid for the country’s third largest bank, Monte dei Paschi di Siena, helped the recovery in risk appetite following the rejection by Italian [..]

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