Review of the day

  • 21 August, 2017 09:49

    Euro May Continue Its Decline

    It seems there is no investor trust in the US dollar. One would think that the statistics released on retail sales should give momentum to an increase in the US dollar provided that the technical scenario is favourable, however FOMC minutes spoiled the overall picture, and the Dollar Index dropped considerably. Keep in mind that a report of that sort of substance was actually expected. Today, the scenario has repeated itself. The US currency is again under pressure amid speculation that
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  • 28 July, 2017 13:42

    Investors Didn't Believe US Fed, Dollar Is Under Pressure Again

    Yesterday the US Fed wrapped up a two-day meeting. The Fed kept its rate at 1.25% and stated that it would start shrinking asset holdings in its balance sheet 'relatively soon', also saying that it will follow the plan announced in June. In June, the Fed set out a plan to cut Treasury bonds and mortgage-backed securities held in its balance sheet, which has ballooned to $4.5 trillion. The largest part of them was bought in the midst of the financial crisis and recession in 2007-2009. In addition
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  • 25 July, 2017 13:59

    Medium-Term Prospects of Ruble Remain The Same

    It was a day of high volatility in the oil market yesterday. In Saint Petersburg, an OPEC+ meeting took place, during which some pressing issues were discussed, particularly the agenda of Nigeria joining the agreement provided that within three months the country's production will be down to 1.8 million barrels per day, whereas Nigeria is ready to decrease its production by 4.6%. Another important statement was made by Saudi Arabia, which promised to cut considerably its oil exports in August -
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  • 24 July, 2017 14:02

    Mueller Alarms Markets

    The EUR/USD currency pair approached the highs of 2015 during the last trading session, but the statements by ECB's Mario Draghi had nothing to do with it. On the contrary, Draghi dispelled the investors' assumptions that the quantitative easing program will be cut in the near future, he also mentioned the negative consequences of the strengthening of the currency rate. Nevertheless, the euro strengthened considerably against the US dollar. Perhaps the news that Mueller started investigating
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  • 21 July, 2017 14:27

    Brent Oil Targeting At $50-51 per barrel

    Today, the main event of the Asian session was a report on monetary policy of the Bank of Japan. The Bank of Japan left its monetary policy unchanged and promised to keep purchasing assets at an annual pace of 80 trillion yen and retain the yield of the 10-year bond at a near-zero level, as expected. Also, the Bank of Japan cut its inflation forecast. The regulator revised its inflation forecasts and shifted the timeline to achieve its inflation target from fiscal 2018 to fiscal 2019. In its
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  • 20 July, 2017 14:06

    Markets Anticipating Speeches by Japan's and Eurozone's Monetary Policy Officials

    Tomorrow the Bank of Japan is expected to report on monetary policy, and an ECB's press conference is also scheduled for tomorrow. In the light of the upcoming events, local consolidation is occurring in the markets, including currency markets and stock exchanges. The RBA's meeting minutes released yesterday backed the market opinion in regard to keeping Australia's monetary policy within the current trend, and also helped the Aussie to consolidate above the resistance at 0.79 and increase the
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  • 18 July, 2017 13:47

    Current Week May Turn Into Yet Another Disappointment For US Dollar

    The last week was unsuccessful for the greenback. The US Dollar Index went down below 95 points. There were enough reasons for that, from a political scandal involving Donald Trump's son to statistics on inflation. The data released were weak. The Consumer Price Index (y/y) decreased to 1.6% in June, and core retail sales declined by 0.2% in June. These statistics made investors wonder whether further tightening of monetary policy is, in fact, needed. It is also worth noting that during Janet
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  • 14 July, 2017 11:37

    Financial Markets Mixed After Testimony by Janet Yellen

    The first day of Janet Yellen speaking in Congress left financial markets mixed. US indices now seem more cheerful, specifically SP500 retreated to the upper border of a narrow channel at the 2450-point area. The US Dollar Index, in contrast, is on the back foot. It is being traded near the 96-point level. However, the yen benefited from Yellen's cautious remarks. The Fed Chair voiced a rather conservative forecast on the country's economics and monetary policy by confirming that the regulator
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  • 12 July, 2017 13:08

    Last Day of Dull Trading Hours

    Today is the second day of dull trading. The US Dollar Index is at the same level of 96 points. SP500 is being traded within a range of 2410-2450 points. The major currency pairs are hanging within local sideways trends, near yesterday's levels. EUR/USD is being traded near 1.1139. GBP/USD is near 1.290. USD/JPY is still above 114. The ex-frontrunner in growth, USD/CAD, remains within yesterday's diapason. On the whole, quotes stay still ahead of the upcoming day, which is going to be busy. On
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  • 11 July, 2017 15:13

    Today, trading hours were in quiet mode with minimal volatility

    The US Dollar Index continues consolidating around 96 points. SP500 has been hovering in a narrow range between 2410-2450 points near the 50-day moving average. The main event of the Asian trading session was a speech by Bank of Japan's Haruhiko Kuroda, who pointed out that there was a moderate economic expansion, however stimuli were still needed. In addition, negative statistics was at play against the yen today. Data on Japan's current account were released. Japan's surplus decreased to 1.4
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