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Forex Market Reviews

22 September 2017

Media reviews

Tina Pham

May to Reboot Brexit Plan by Requesting Transition Period (news: 22/09/17)

U.K. Prime Minister Theresa May will reboot her Brexit strategy on Friday by proposing a period of transition after the split with the European Union even if that means continuing to send money to Brussels and observing its rules until 2021.
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Market sessions

Gabriel Ojimadu

EURUSD: quickly returning to 1.12

The dollar’s rise turned out to be short lived. On Wednesday evening, the EURUSD pair shed 1%, dropping to 1.188, but the dollar lost ground against the other currencies in the US dollar index, bringing the DXY back below 92 points. The reaction to the Fed’s meeting was emotional. However, Janet Yellen didn’t actually say anything new. She talked about the possibility of an additional rate hike before the end of the year and the beginning of the balance sheet taper in October. Markets digested this information, and within 2 days, the EURUSD pair had almost completely closed the gap, returning to 1.198.
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Market sessions

Veselin Petkov

Forex market review: (22/09/17)

The second half of yesterday’s trading session passed without any major news. The market is still adjusting to the Fed’s decision taken on Wednesday evening (21st of September).
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21 September 2017

Media reviews

Tina Pham

China's central bank tells banks to stop doing business with North Korea: sources (news: 21/09/17)

BEIJING/HONG KONG (Reuters) - China's central bank has told banks to strictly implement United Nations sanctions against North Korea, four sources told Reuters, amid U.S. concerns that Beijing has not been tough enough over Pyongyang's repeated nuclear tests.
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Market sessions

Veselin Petkov

US dollar gets psychological support from the Fed

On Wednesday evening, on the 20th of September, we saw some significant intraday movements on the currency market. In the first half of the day, the US dollar index (DXY) dropped to 91.33 levels. Then, after the conclusion to the Fed’s two-day meeting on monetary policy was published, it reversed and surged to 92.49. The main reason for this was the softening of the Fed’s rhetoric on monetary policy.
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Metals: gold and silver

Veselin Petkov

Mid-term trading idea XAU/USD – short position

I wrote yesterday that I would be looking to either buy or sell gold after the conclusion of the Federal Reserve’s meeting depending on their decision with regards to monetary policy. I decided to go with the “First option” that I described in yesterday’s review, i.e. to open a short position. The main reason for this is the softening of rhetoric from the Federal Reserve with regards to monetary policy. Yesterday, the US regulator issued an advance publication its new economic forecasts, in which it downgraded its “long run” projection for the key rate from 3.0% to 2.8%, as it had been previously.
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Market sessions

Veselin Petkov

Fed softens rhetoric on monetary policy

Yesterday, the US Federal Reserve softened its rhetoric with regards to monetary policy. The regulator left the key rate unchanged at 1.00% - 1.25%, although it did lower its long-term “neutral” interest rate from 3.0% to 2.8%.
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