Author Archives: forexadmin

FX Market Summary 05-14-2014: Diminished Expectations Damage Sterling

European trading on Wednesday was inevitably dominated by Sterling given the high-profile unemployment data and latest Bank of England inflation report. GBP/USD was initially able to find support on dips towards 1.6825 on Tuesday and moved to highs around 1.6875 … Continue reading

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FX Market Summary 05-13-2014: Bundesbank Talk Undermines Euro

The latest Chinese data was weaker than expected with misses for industrial production and retail sales, but the overall impact was limited as equity-gains elsewhere helped underpin risk appetite. Ranges were relatively narrow with EUR/USD initially holding just above 1.3750 … Continue reading

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FX Market Summary 05-12-2014: Yen Moves Weaker

Markets struggled for momentum during Monday with consolidation the general theme after sharp Euro losses at the end of last week with the Japanese yen tending to lose ground on domestic and international grounds. The latest seasonally-adjusted Japanese current account … Continue reading

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FX Market Outlook 05-09-2014: Euro Selling Continues

Trading for much of Friday was dominated by aftershocks following Draghi’s ECB press conference on Thursday with the Euro subjected to fresh selling pressure. As far as Asian trading was concerned, the Chinese inflation data was weaker than expected with … Continue reading

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FX Market Summary 05-08-2014: Draghi Comments Unsettle Euro

The Australian dollar was a significant mover during the Asian session on Thursday with a strong rally from support levels. Domestically, there was a stronger than expected labour-market report with employment increasing by over 14,000 for the month as the … Continue reading

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FX Market Summary 05-07-2014: Consolidation Ahead Of ECB Decision

Tokyo markets re-opened on Wednesday following the two-day break with the Nikkei index retreating to a 3-week low which tended to hamper risk appetite. There was also a further downturn in the China HSBC services PMI index which maintained concerns … Continue reading

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FX Market Summary 05-06-2014: Dollar Under Pressure

The dollar was unable to make any headway during the Asian session on Tuesday and maintained a vulnerable tone with Tokyo markets again closed for a holiday. As expected, the Reserve Bank of Australia left interest rates on hold at … Continue reading

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FX Market Summary 05-05-2014: Dollar Struggling For Traction

Markets struggled for direction on Monday with narrow ranges prevailing. Trading following the monthly US payrolls report is often lacklustre which certainly proved to be the case this time and there were additional factors to depress volatility with both Tokyo … Continue reading

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FX Market Summary 05-02-2014: Dollar Payroll Gains Reversed

Ultimately, it was another disappointing day for the dollar on Friday despite a brief payrolls boost. Narrow ranges persisted ahead of the US open with traders unwilling to take aggressive positions ahead of the payrolls release. The Japanese unemployment data … Continue reading

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FX Market Summary 05-01-2014: Long-Term Resistance Levels In Focus

After being subjected to significant selling pressure during Wednesday, the dollar did manage to stabilise following the Federal Reserve statement which was broadly in line with expectations, but it was unable to make any significant headway. A further US$10bn tapering … Continue reading

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