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Forex market reviews

07 August 2017

Media reviews

Tina Pham

Forex - Dollar index slips lower as markets digest NFP data (news: 07/08/17)

Investing.com - The dollar slipped lower against the other major currencies on Monday, pulling back from Friday’s one-week highs reached after the release of far better-than-expected U.S. nonfarm payrolls data.
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Cryptocurrencies

Gabriel Ojimadu

Interest in cryptocurrencies rising

Interest in cryptocurrencies is continuously on the rise across the world. The prices of some of these currencies are rising at breakneck speeds. Over the weekend, the bitcoin hit a new all-time high and is trading at 3235 USD today. The market’s shine is attracting not only buyers (not all that shines is gold), but is also creating the need for more ICOs. Everyone is trying to take advantage of this and so there’s been a lot of hype around ICOs recently, which actually creates competition among cryptocurrencies. In the picture below is a monthly bar chart of new ICO funding.
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Market sessions

Gabriel Ojimadu

EURUSD: slide from the 67th degree expected

On Friday the 4th of August, trading on the euro closed 95 pips down against the dollar. The pair consolidated around 1.1880 up until the NFP report. The strong US labour data led buyers to close their short positions on the dollar. The euro dropped 148 pips to 1.1728 in the space of 3 hours as a result of triggered stop levels.
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04 August 2017

Media reviews

Tina Pham

U.S. payrolls increase more than expected, wages rise (news: 04/08/17)

WASHINGTON (Reuters) - U.S. employers hired more workers than expected in July and raised their wages, signs of labor market tightness that likely clears the way for the Federal Reserve to announce next month a plan to start shrinking its massive bond portfolio.
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Market sessions

Gabriel Ojimadu

EURUSD: markets await NFP

On Thursday the 3rd of August, trading on the euro/dollar pair closed up. After falling to 1.1831, the single currency trimmed its losses against the greenback with a jump to 1.1893. Euro bulls first received support from the Bank of England’s minutes and then from Mark Carney’s speech. The dollar then took a dive on the back of a sharp drop in US bond yields.
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Alexander Razuvaev
Alexander Razuvaev

Director of Alpari's analytical department

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