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Forex market reviews

19 September 2017

Media reviews

Tina Pham

Trump to single out North Korea, Iran in first speech at U.N. (news: 19/09/17)

UNITED NATIONS (Reuters) - U.S. President Donald Trump will urge United Nations member states on Tuesday to turn up the pressure on North Korea to give up its nuclear weapons, using his maiden speech to the world body to address what he considers the top global challenge.
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Market sessions

Veselin Petkov

Euro still at the races

On Tuesday, in the first half of the European trading session, low trading volume was observed on the majors. Markets are most likely in wait-and-see mode due to the meeting of the US Federal Reserve. The US dollar index (DXY) is trading at a level of 91.65 (-0.17%), i.e. slightly down on yesterday’s closing price.
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Commodities

Veselin Petkov

Brent oil trading at 55.35 USD a barrel

The International Energy Agency upgraded their forecast for oil demand in 2017 by 1.6m barrels a day in their Oil Market Report. The reason for this revision was strong demand from OECD countries.
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Market sessions

Veselin Petkov

Markets take a wait-and-see attitude with the Fed meeting looming

The trading session on Monday, the 18th of September, went by smoothly. The value of the US dollar index hardly changed, moving in a range of 91.78 to 92.22. The euro index (ECX) closed slightly up, jumping from 94.71 to 95.10. This growth on the ECX was brought about by growth on the euro against the British pound, Japanese yen, and Swiss franc. The market is clearly in wait-and-see mode as the Fed meeting approaches.
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18 September 2017

Media reviews

Tina Pham

Japan Becomes Largest Bitcoin Market as Traders Leave China (news: 18/09/17)

Japan has once again become the largest Bitcoin exchange market with 50.75 percent market share of the global Bitcoin exchange market. Analysts including BitFury Vice Chairman George Kikvadze attributed the surge in the trading volume of the Japanese Bitcoin exchange market to the exit of Bitcoin traders in China.
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Market sessions

Gabriel Ojimadu

What will Yellen say?

Investors across the world tended towards riskier assets last week. This tendency could extend into the beginning of this week, which would be good for stock indices as well as the euro. It’s worth noting that the losses incurred on assets due to North Korea’s missile launch over Japan were quickly recovered, and the devastation caused by Hurricane Harvey was not as bad as expected. Volatility remains high on currency markets. Last week, the euro/dollar currency pair traded within a wide range from 1.187 to 1.2.
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Market sessions

Natalia Milchakova

7 reasons for optimism on the British pound

Since June of last year, the British pound has been a rather risky and unattractive currency. However, in September this year, the situation started to change radically, and now, the pound is testing levels not seen since the Brexit referendum (on the 23rd of June, 2016).
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Market sessions

Veselin Petkov

FX market: markets await the Federal Reserve’s meeting

On Friday the 15th of September, the euro/dollar rate closed slightly up. The US dollar index continued its slide on the back of weak retail sales data for August coming out of the US. Month on month, retail sales fell by 0.2% in August, while the readings for June and July were revised downwards. In addition to this, industrial production in August fell by 0.9% as a result of the destruction of Hurricane Harvey. Weaker US data increases the risk of lower GDP growth in the third quarter. After the release of statistics on Friday, the Atlanta Fed significantly revised its GDP forecast for the third quarter; from 3.0% to 2.2%, while the New York Fed revised its forecast from 2.06% to 1.34%.
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Alexander Razuvaev
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Director of Alpari's analytical department

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