Author Archives: forexadmin

FX Market Summary 11-01-2013: Euro remains under pressure

The latest official Chinese PMI index was stronger than expected on Friday which should have underpinned risk appetite, but the yen initially remained resilient as the Nikkei index weakened again. There was evidence of profit taking on short yen positions following … Continue reading

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FX Market Summary 10-31-2013: Euro weakens sharply

The dollar initially gained support on Tuesday from a slightly less dovish that expected Federal Reserve statement which kept alive at least some possibility of a tapering move in December with officials were less concerned over underlying economic trends. EUR/USD … Continue reading

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FX Market Summary 10-30-2013: Dollar waits for Fed statement

Trading conditions were generally subdued on Wednesday with little commitment to fresh and aggressive positioning given the high degree of event risk and uncertainty over underlying trends. The early Euro-zone economic releases did not have a significant impact as German … Continue reading

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FX Market Summary 10-29-2013: Dollar rally attempt stalls

There were important currency moves during the Asian session on Tuesday with volatility higher than in recent sessions. Australian Reserve Bank Governor Stevens was again unusually blunt in his assessment of the Australian currency with comments that the Australian dollar was … Continue reading

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FX Market Summary 10-28-2013: Euro drifts in lacklustre conditions

Bank of Japan member Iwata reiterated the bank’s commitment to an expansionary monetary policy on Monday which reinforced negative longer-term sentiment towards the yen. USD/JPY moved above 97.70 at the Asian open, but failed to generate any additional traction. With … Continue reading

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FX Market Summary 10-25-2013: Dollar limps into the weekend

EUR/USD initially held steady during the Asian session on Friday before pushing higher once again with a move to fresh 2013 highs just above 1.3830 as the dollar remained generally vulnerable. The German IFO business confidence index was slightly weaker … Continue reading

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FX Market Summary 10-24-2013: Euro hits fresh highs

The Euro held firm during the Asian session on Thursday and then pushed sharply higher at the European open as technical factors continued to have an important impact. Short-term players managed to push the pair to fresh 2013 highs above … Continue reading

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FX Market Summary 10-23-2013: Dollar remains out of favour

After initially holding steady against the yen on Wednesday, the dollar dipped sharply with lows around 97.25. The Japanese currency gained some support from concerns surrounding losses within the Chinese banking sector and bank-default rumours as risk appetite suddenly evaporated.

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FX Market Summary 10-22-2013: EUR/USD hits 2013 highs

Trading conditions were inevitably extremely subdued during the European session on Tuesday ahead of the delayed US payroll data due soon after the US open. EUR/USD was confined to very narrow ranges of less than 20 pips around 1.3670 with … Continue reading

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FX Market Summary 10-21-2013: No traction for the dollar

As has been the case for much of the past week, both the dollar and yen battled for the honour of weakest currency during Monday as they remained firmly out of favour in currency markets. The yen was unsettled by … Continue reading

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