Review of the day

  • 08 November, 2017 13:58

    Brent Not Ready To Keep On Rising

    First, a climb in oil prices on Monday needs to be discussed. Yesterday Brent rose in price by 3%, exceeding the $64 dollars per barrel level. This is the first time these levels were reached since 2015. There were enough news releases that served as a factor for oil prices to increase, but the key news was that there was a purge in Saudi Arabia's elite. Two crown princes were killed under different circumstances while being arrested. Today Brent has been trading near the upper border of an
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  • 24 October, 2017 14:30

    Euro Expecting ECB Meeting In Sideways Trend

    The Japanese yen was performing rather predictably on Monday. During the first trading hours the USD/JPY currency pair was testing the 114 level. The current dynamics remain unchanged. The next short-term marker in this currency pair is located at the 114.4 area. A surge was ensured by the report that Prime Minister Shinzo Abe's party secured a strong mandate in Japan's election that took place last weekend. The prime minister strengthened his position and most probably will stay in power until
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  • 13 October, 2017 13:27

    Investor Attention Shifted To ECB Meeting

    Today, on Thursday, investor attention shifted to a speech by Mario Draghi, ECB president. Taking into account the recent dynamics of the euro, it can be assumed that investors obviously expect some strengthening in the rhetoric towards tightening of EU monetary policy, and surely investors anticipate more details in regard to cutting the quantitative easing program. Currently all statements made by the ECB president and other ECB members will be deemed in the context of potential changes at the
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  • 10 October, 2017 16:08

    US Statistics Give Reason To Expect Further US Dollar's Rise

    The clash between the US and North Korea continues. Last week, in Pyongyang, North Korea stated that they plan to test a missile, which, according to their calculations, may reach the US West Coast. This time the threat is significant, it refers directly to the US and not just its allies, this is why it is likely to expect the strengthening of Trump's aggressive rhetoric, and along with all that, increasing geopolitical risks in general. Nevertheless, if to ignore the above negative factors, the
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  • 04 October, 2017 14:14

    Single Currency Supported By Positive Statistics

    The Dollar Index yesterday hit the local high at 93.50, and by doing so it confirmed its intention to keep on climbing. The nearest target is at 94. However, on Tuesday later in the afternoon the tendency changed, but within an ascending trend. The single currency today hit the local bottom at the 1.169 area, where a correction has started. A short-term reason for a change in the trend was the stabilization of the situation about the referendum in Catalonia. In addition, the macroeconomic
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  • 03 October, 2017 14:13

    Dollar Still Has Potential to Continue Its Growth

    On Friday, the last day of September, Donald Trump held a series of meetings with those who may be the next Fed chair. By doing so, the US president caused reduced volatility in trading in financial markets. Kevin Warsh, who is also the youngest appointment in the history of the Fed, was among the candidates and is known for his commitment to tighter monetary policy, i.e. Warsh is likely to raise interest rates. Also, he is remembered for being the only Fed official who expressed doubt in the
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  • 20 September, 2017 19:57

    FOMC In Focus

    Last week was rather uneasy for the US dollar, however by the end of it the US Dollar Index closed in the green. The major pressure on the greenback was from the weak report on retail sales and the news that North Korea launched yet another missile, the trajectory of which was over Japan. In contrast, positive drivers that backed up the greenback may comprise a climb in stock exchanges, particularly the S&P500 Index hit the record 2500-point low. Additionally, the increase in yield on US
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  • 30 August, 2017 14:20

    Markets Are In The Grip of Geopolitics

    It didn't take too long. North Korea reacted to military exercises of the US and South Korea by conducting its test of a ballistic missile. The trajectory of the missile was over Japan, which raised concerns on the islands, then comments on possible joint military exercises with the US followed. On the whole, today's geopolitics has been prevailing and also one of the major drivers. Naturally, the main trend in the financial markets yesterday and today has been risk aversion. Gold is on the
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  • 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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