Forex Market Reviews

Media reviews

17:28 (GMT+3)

Pound jumps after BoE's Haldane speech, commodity currencies dip (News: 21/06/17)

The pound jumped on Wednesday after a Bank of England policymaker said he expected to back an interest rate hike this year while commodity-linked currencies such as the Canadian dollar and Norwegian crown took a hit on declining oil prices.

Market sessions

Tomasz Wisniewski

16:44 (GMT+3)

Daily analytical report (21/06/17)

Data can not be shown.

USD, Cable (GBPUSD), USDCAD, USDMXN

Market sessions

Gabriel Ojimadu

16:15 (GMT+3)

Sterling given a boost during BoE MPC member Haldane’s speech

During trading in Europe, the British pound is once again the centre of attention due to increased volatility. The GBPUSD pair has fallen by 45 pips to 1.2590, hitting a new weekly low, from which it subsequently shot up by 113 pips to 1.2708. The Euro rate is being kept at 1.1147 level due to the EURGBP cross falling.

Market sessions

Gabriel Ojimadu

09:37 (GMT+3)

EURUSD: downwards movement expected to continue

Trading on the Euro closed down on Tuesday. Before the US session, the pair was trading above the support zone of 1.1132/40. The EURGBP cross helped to counter the weakening of the Euro as it sharply rose on comments from Bank of England governor Mark Carney, who iterated that now is not the time to raise interest rates. The British pound has fallen by 155 pips to 1.2603.

Market sessions

Tomasz Wisniewski

17:37 (GMT+3)

Daily analytical report (20/06/17)

Data can not be shown.

USD, Federal Reserve, EURJPY, EURUSD, Gold

Media reviews

Tina Pham

17:28 (GMT+3)

Fed's Rosengren: Low interest rates pose financial stability risks (News: 20/06/17)

Boston Fed President Eric Rosengren said on Tuesday that the era of low interest rates in the United States and elsewhere poses financial stability risks and that central bankers must factor such concerns into their decision-making.

Market sessions

Gabriel Ojimadu

15:40 (GMT+3)

Sterling has fallen by more than 0.7%

Sterling is the centre of attention among traders in Europe, which has slid against the dollar by 0.7% to 1.2668 since BoE governor Mark Carney’s statement that now is not the time to increase interest rates. He also gave an indication of weak growth in earnings to come. The pound has fallen against the Euro by 0.75% to 0.8805.

Market sessions

Gabriel Ojimadu

09:48 (GMT+3)

EURUSD: consolidation expected

On Monday, trading on the Euro closed down. The pair didn’t manage to break 1.1200 level after Emmanuel Macron’s victory at the French parliamentary elections. The economic calendar was fairly empty, so as the dollar rose across the market, the Euro fell against it from 1.1213 to 1.1141 (-72), including during trading in Asia. US 10Y bond yields rose to 2.20%.