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Forex market reviews

17 August 2017

Market sessions

Tomasz Wisniewski

Daily analytical report (17/08/17)

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Today we look at the reaction to the FOMC minutes published last night. In focus today are gold, WTI and DAX.
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Market sessions

Gabriel Ojimadu

EURUSD: correction expected after growth to 1.1816

On Wednesday the 16th of August, trading on the euro closed in the black. The single currency was under intense pressure leading up to the release of the FOMC minutes. It first fell against the dollar after a report from Reuters that ECB president Mario Draghi wasn’t planning any significant monetary policy statement in the speech he’s set to give at the Jackson Hole symposium. Sellers later came into play after the publication of strong UK data.
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16 August 2017

Media reviews

Tina Pham

ECB's Draghi will not deliver fresh policy steer at Jackson Hole: sources (news: 16/08/17)

FRANKFURT (Reuters) - European Central Bank President Mario Draghi will not deliver a new policy message at the U.S. Federal Reserve's Jackson Hole conference, two sources familiar with the situation said, tempering expectations for the bank to start charting the course out of stimulus.
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Market sessions

Tomasz Wisniewski

Daily analytical report (16/08/17)

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Volatility has subsided after a turbulent week and things are looking up for the US dollar. Today, our focus will be on EURUSD, AUDUSD, and EURJPY.
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Market sessions

Gabriel Ojimadu

British data puts the euro under pressure

Volatility on the euro/dollar pair during the European session is off the charts. At the beginning of the session, the single currency rose to 1.1758 before dropping to 1.1691 (-67 pips) in the space of 25 minutes. This drop was the result of a report from Reuters that ECB president Mario Draghi wouldn’t be delivering any new messages on monetary policy at the US Fed’s Jackson Hole conference on the 25th of August.
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Market sessions

Gabriel Ojimadu

EURUSD: correction to continue to the LB line

On Tuesday the 15th of August, trading on the euro/dollar pair closed in the red. In the US session, the euro fell against the dollar to 1.1687. Strong retail sales data coupled with an abating of tensions surrounding North Korea provided support for the greenback. Previous negative retail sales figures were revised upwards to positive values. US 10Y bond yields jumped to 2.284%.
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