Dollar bulls still on side lines

24 July, 2015

Chinese stocks have been recovering, with the Shanghai composite some 20% off its lows now, meanwhile European and US indices remain just below their record highs having shown reluctance to push on to new unchartered territory. Investors have been tested from all angles in recent months and now they are all too fully aware of the impending rate hikes from the Federal Reserve and Bank of England. Whilst the dollar has recovered some of its lost ground since the highs it marked back in March, the dollar index is still a good 3% below the high of 100.39 as investors are yet to really register the Fed is preparing them for the tightening cycle to commence soon. The weekly jobless claims yesterday provided only a brief stimulus for the dollar even though they showed the US labour market was continuing to strengthen with the lowest figure since the 1970s.

With little in the way of economic data today there’s little that might assist the dollar bulls in their conviction that the next leg higher is imminent, apart from some the manufacturing PMI and new home sales data out later today. They will have to wait until next week when there’s a raft of more significant releases including durable goods, consumer confidence and GDP, not to forget the FOMC policy decision on Wednesday.


Source link  
Trump pulls out of peace summit

The US President dominated headlines and moved the market again yesterday when he wrote a letter to the North Korean Leader announcing his decision...

UK Consumer Price Index data

Eurozone Markit Manufacturing PMI (May) is expected to come in at 56.0 from 56.2 previously. Markit Services PMI (May) is expected at 54.6 v 54.7 previously...

FOMC Members will be speaking today

This shows a healthy economy with the 2018 average at a higher level than previous years. Slip under zero can cause a market reaction but is not...


Fed Speakers Take Centre Stage

Fed Member Mester is due to speak at the Central Banking Series hosted jointly by the Global Interdependence Center and Bank of France, in Paris...

Markets Steady Ahead of Euro Open

After further increases in stock markets yesterday, the market is pausing and consolidating ahead of European trading. Asian equity markets are in the green...

Oil Inventories to Show a Draw

Expectations (Apr) are expected to be released with a prior reading of 16.7. This data has been weakening since a reading of 52.0 was recorded in...


Chances of RBA Rate Hike

NZDUSD bucked the trend overnight, as most other currencies managed to retrace some of their declines against the USD. The pair hit fresh...

Consumer Sentiment Index Close to Higher

US Fed Boston President Rosengren is due to deliver the keynote speech on the economic outlook, at the Greater Boston Chamber’s Economic Outlook Breakfast...

Chinese president soothes worries

With US Producer Prices data on the way this afternoon, and predicted to be largely as expected, the morning session will be dominated by central bankers...


In the past 24 hours Bitcoin has lost -2.64% and reached $7348.96. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -0.91% and is now at $1.1666. Start trading and making money on Forex today.

In the past 7 days Ethereum has lost -18.85% and is now at $578.216. 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
1easyMarketseasyMarkets89%
2FXTMFXTM88%
3HYCMHYCM86%
4FIBO GroupFIBO Group81%
5FxProFxPro78%
6FXCMFXCM71%
7HotForexHotForex70%
8XMXM69%
9Alfa-ForexAlfa-Forex68%
10Grand CapitalGrand Capital65%
  


Share: