Forex Market Reviews

Market sessions

10:28 (GMT+3)

On Thursday, trading on the EURUSD pair closed down. The Euro fell against the dollar, but it was a reluctant retreat. US 10Y bond yields didn’t manage to consolidate above 2.166% and fell to 2.145%. In the end, the price rebounded from 1.1139 and returned to 1.1155.

Media reviews

Tina Pham

17:19 (GMT+3)

U.S. Stocks Mixed as Oil Stabilizes, Dollar Slips: Markets Wrap (News: 22/06/17)

U.S. stocks sought to rebound from two days of losses as the bear market in crude prices showed signs of spilling into the broader market even as oil stabilized. The dollar stayed lower as U.S. jobless claims came in slightly above expectations, while gold advanced.

Market sessions

Gabriel Ojimadu

16:49 (GMT+3)

Euro caught at 1.1167

Trading on the Forex market has been going relatively peacefully this Thursday. The EURUSD pair is trading in a 23-pip range with a median price of 1.1165 and the GBPUSD pair is trading within a 32-pip range with a median price of 1.2670. Given that there hasn’t been any significant data from Europe, the main driver of price changes has been the dynamics of US bonds. As of the time of writing, US 10Y bond yields have risen from 2.145% to 2.169%.

Market sessions

Tomasz Wisniewski

16:23 (GMT+3)

Daily analytical report (22/06/17)

Data can not be shown.

Commodities, Gold, Silver, EURJPY

Market sessions

Gabriel Ojimadu

15:53 (GMT+3)

India plans to legalise bitcoin: who’s next?

After its growth yesterday, the bitcoin corrected downwards. Today, we’re seeing consolidation on the BTCUSD instrument in the region of 2620-2640. The driver for growth at the beginning of the week was the decision by India’s Inter-Disciplinary Committee to come up with a regulatory framework for the bitcoin market. A special team will be put together for the drafting of statutory acts. It’s perfectly possible that Delhi could legalise bitcoin within a matter of months. Cryptocurrencies are popular among Indians given the volatility of the rupee and the controversial monetary reforms of 2016. On Indian electronic platforms (Zebpay, Coinsecure and Unocoin), more than 10% of transactions are made in bitcoin and mining is becoming ever more popular.

Market sessions

Gabriel Ojimadu

10:16 (GMT+3)

EURUSD: correctional movement following same path as on the 15th of June

The EURUSD pair closed up at the end of Wednesday’s trading. The price has returned below the trend line, which was broken through on the 20th of June. This was brought about by the impact of Andy Haldane’s speech, chief economist at the Bank of England, as well as by US bond yields and US data. The pair spent most of the day in a sideways trend, trading within a 30-pip range.