Dollar giving up gains

22 July, 2015

FX markets have been something of a sideshow this week compared to what we’ve seen in commodities. That said, there was a notably softer tone to the dollar yesterday afternoon, evident on all of the majors. For the Aussie, this allowed for a push above the 0.7440 level, with some reversal seen overnight on the back of the latest CPI data and comments from RBA Governor Stevens. Inflation data, on the headline measure at least, was softer than expected, rising 1.5% YoY vs. expectations for an increase of 1.7%.

For the day ahead, the BoE minutes to the July meeting will be of interest to sterling, especially in light of the recent comments from Carney hinting that a rate hike may come earlier than markets expect. Naturally, his is only one view of 9 on the committee, but if there is a sense that things are shifting towards his way of thinking, then sterling may seek to regain some of the recent again the dollar, which yesterday took cable back below the 1.5550 level. EURGBP is also worth watching after the recent move below the 0.70 level which the market has struggled to sustain yesterday as the single currency pushed ahead against the dollar. Otherwise, there is also the matter of the RBNZ decision late this evening, where a further cut in the main repo rate to 3.00% is anticipated. This is largely priced into the kiwi, which has been falling since the last meeting, so there is low risk of them doing more or getting more aggressive on their view of currency strength. The kiwi trades at 0.66 after the bounce from 0.65 at the end of last week.


Source link  
Markets are taking a breath right now

Whether this turns into a broader rally or the selloff is resumed remains to be seen. Stock markets are higher after support was found in the European...

Trump wants a further $200 Billion of tariffs

While there was risk yesterday from Central Bankers very little was said to move the market. Instead the Trade War narrative boiled up again with the latest...

Oil down over 4% from Friday's open

OPEC and non- OPEC members are meeting in Vienna on Thursday for the start of a 3 day summit where production cuts are on the agenda...


ECB sparks huge moves in the Euro

The ECB dominated markets yesterday as they shifted their policy stance and signalled their exit from QE. The Bank is looking to reduce its bond buying by...

FOMC meeting results in a weaker dollar

The FOMC raised rates by 0.25 bps yesterday evening to a 1.75% to 2.00% target range in a hawkish move and reaffirmed its expected forecast of 2 more...

Progress made between Trump & Kim

US President Trump and North Korean Leader Kin Jong Un met in Singapore overnight. Progress was made between the two leaders during this first meeting...


Poor British statistics presses on sterling

Britain's statistics continue to indicate a slowdown in the UK economy. Today's data showed a decline in industrial production by 0.8% during April against...

Markets pause in anticipation

Yesterday's trading session saw a rotation from the NASDAQ and Tech into the Dow Jones and Industrials. The European Indices have under preformed this week...

RBA leaves rates at on hold 1.50%

Yesterday's session was quite after a pickup in volatility last week and there has been little in the way of movement overnight. This is despite some negative...


In the past 24 hours Bitcoin has gained 0.39% and reached $6776.36. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -1.7729% and is now at $1.1587. Start trading and making money on Forex today.

In the past 7 days Ethereum has gained 13.19% and is now at $536.247. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Daily Forex Market Reviews


Forex Currencies Forecasts


Top 10 Forex Brokers 2018

# Broker Review
1easyMarketseasyMarkets88%
2FXTMFXTM87%
3HYCMHYCM85%
4FIBO GroupFIBO Group80%
5FxProFxPro77%
6FXCMFXCM74%
7Alfa-ForexAlfa-Forex72%
8HotForexHotForex71%
9FP MarketsFP Markets70%
10XMXM69%
  


Share: