USD Stabilizes

11 September, 2017

Hurricane Irma has, reportedly, inflicted less damage on the US mainland than was originally predicted, thereby reducing the economic impact of the devastation it was expected to cause. The hurricane caused flooding and tidal surges that knocked out power to 4 million homes and businesses in Florida. Meteorologists are now predicting that Irma will weaken to a tropical storm as it travels into northern Florida and Southern Georgia.

Markets had been concerned that another North Korean missile test would occur over the weekend, but such fears were allayed – such concern saw a flight to safe havens last week and a broad USD decline. There is still a concern, as the markets are now awaiting the UN Security Council’s vote later this week regarding further sanctions being imposed on the regime and how North Korea will respond. North Korea’s state run news agency stated on Monday that “North Korea is closely following the moves of the US with vigilance”.

Markets are also awaitingВВВВ nextВВВВ week’s Federal Reserve policy meeting, which will likely focus on economic growth following Harvey and Irma. In an interview with CNBC last week, NY Fed President Dudley commented that he had “marked down” his Q3 growth estimate “a touch” and further commented that US interest rates “are going to move gradually higher over time”. The markets will now focus on US inflation data later this week.

EURUSDВВВВ is unchanged from Friday’s close – currently trading around 1.2015.

USDJPYВВВВ is 0.2% higher in early trading, to currently trade around 108.38.

GBPUSDВВВВ is little changed over the weekend and currently trades around 1.3180.

GoldВВВВ is virtually unchanged and currently trade around $1,338.

WTI edged higher, by 0.6%, in early Monday trading, following reports that the Saudi Oil Minister has discussed extending a pact to cut global oil supplies beyond March 2018 with Venezuela & Kazakhstan. WTI is currently trading around $48.35pb.

At 13:15 BST, the Canadian Mortgage and Housing Corporation will release Canadian Housing Starts (YoY) for August. A robust Canadian economy led to the recent hike in rates by the Bank of Canada, so markets will be looking to see if the housing market is keeping up with demand by improving on the previous release of 222.3K.


Source link  
Emerging markets rebound seems over

Asian markets have turned to a decline with a renewed force. After the rebound of last week, the index MSCI Asia ex Japan loses 1.2% and is only...

Rebound in Asian markets intensifies

On Friday morning, the demand for risks on the Asian bourses continues to recover. MSCI for Asia ex Japan is adding more than 1.2% this morning, having...

Reasons to rebound EM indices

Asian markets are adding after reaching 14-month lows the day before. Positive markets are supported by the reports about China's invitation to trade...


Strong data supports U.S. markets

Stocks of the Emerging Markets remain under pressure on Wednesday morning, with positive sentiments prevailing in American markets following...

Pound press dollar on news about Brexit

Michael Barnier, the EU's top negotiator on Brexit, called a reaching of the agreement on the deal within next 6-8 weeks realistic. This news supported...

Brent reversed from resistance level

Brent Crude Oil recently reversed down sharply from the major, multi-month resistance level 79.50 (which has reversed the price multiple times from the...


EM Markets sale-off spreading to DM

The current weakness on the developing countries financial markets is the longest since 2008. The similarities go further than that: as well as 10 years ago...

The price for trade uncertainty

The markets are cautiously on buy for American stocks, and the dollar adds on fears that trade conflicts are seriously stifling the business sentiment...

Chinese markets under pressure

The British pound maintains its position at 1.3020 on Thursday morning after rising by 1.2% from 1.2870 on Wednesday on the tone softening of the EU...


In the past 24 hours Bitcoin has lost -0.59% and reached $6313.50626999. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has gained 0.2294% and is now at $1.166. Start trading and making money on Forex today.

In the past 7 days Ethereum has gained 19.28% and is now at $206.680137139. 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
1easyMarketseasyMarkets90%
2FXTMFXTM88%
3HYCMHYCM87%
4Alfa-ForexAlfa-Forex86%
5FxProFxPro85%
6FIBO GroupFIBO Group84%
7OctaFXOctaFX83%
8HotForexHotForex82%
9FXCMFXCM79%
10AvaTradeAvaTrade77%
  


Share: