Market Review, April 28, 2017

The USD recovered yesterday and moved higher against the other major currencies after the release of better than expected US housing sector data, and this despite dpwnbeat intial jobless claims and durable goods orders data. Comments by ECB President Draghi also weighed broadly on the EUR – taking the pair down to our first target … Continued

Market Review, April 27, 2017

Yesterday US President Trump finally reveiled the tax reform plan, and it wasn’t taken all too positively… Treasury Secretary Steven Mnuchin and Economic Council Director Gary Cohn said that President Donald Trump’s tax reform plan would aim to provide tax relief to American families and lower the business tax rate from one of the highest … Continued

Market Review, April 26, 2017

The USD traded lower against the other major currencies yesterday after mixed US data – while a rally in the euro continued, boosting the EUR/USD pair further. The Consumer Confidence Index dropped to 120.3 in April, compared to expectations of a fall to 122.5 for the month. In a separate report, new U.S. home sales surged … Continued

Market Review, April 25, 2017

The EUR remaind close to session hights yesterday (slightly easing from a 5-1/2 month high against the USD), still boosted by the outcome of the first round of the French presidential election. The French election result dampened demand for safe-haven assets, which includes yen. USD/JPY traded at 109.78, up 0.62%. Gold also dropped and is … Continued

Market Review, April 24, 2017

On Friday we saw the USD jump against the other major currencies after U.S. President Donald Trump said he will unveil a tax plan next week that includes a “massive tax cut” for individuals and businesses. President Trump’s comments came a day after Secretary Steven Mnuchin said the Trump administration is ‘close’ to bringing forward … Continued

Market Review, April 21, 2017

Yesterday we saw the USD drift lower, weighed by bearish economic data. The Labor Department said Thursday, initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 244,000 for the week ended April 15, which was higher than analysts’ forecast of 242,000. In a separate report, the Federal Reserve Bank of Philadelphia said that the … Continued

Market Review, April 20, 2017

The dollar was broadly higher against the other major currencies yesterday – but gains were capped due to growing geopolitical tensions around the world, and as the US political concerns and doubts over Trump’s political stance are still weiging on the greenback. Gold prices eased yesterday, as the dollar recovered. The safe-haven commodity is currenty … Continued

Market Review, April 19, 2017

Pound jumped yesterday after UK PM called for early general elections on June 8. The currency was strong against all other major currencies, closing the trading day as the best performing currency, while the dollar was the weakest due to growing geopolitical concerns. The dollar index fell to three-week lows against the other major currencies. … Continued