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13:58 08.11.2017
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
14:30 24.10.2017
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
13:27 13.10.2017
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
16:08 10.10.2017
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
14:14 04.10.2017
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
14:13 03.10.2017
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
19:57 20.09.2017
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
14:20 30.08.2017
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
09:49 21.08.2017
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
13:42 28.07.2017
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
13:59 25.07.2017
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 -
14:02 24.07.2017
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
14:27 21.07.2017
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
14:06 20.07.2017
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
13:47 18.07.2017
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
11:37 14.07.2017
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
13:08 12.07.2017
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
15:13 11.07.2017
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