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Forex market reviews

25 May 2017

Market sessions

Gabriel Ojimadu

EURUSD: FOMC minutes bring buyers back to the market

On Wednesday, the Euro closed up. A weakening of the dollar came after the publication of the FOMC's minutes. They show that almost all FOMC members are in agreement over a plan to gradually reduce the central bank's balance sheet over the course of the year. They also came to the consensus that they need to hold off on raising interest rates in order to determine whether or not the current economic slowdown is temporary. The dollar reacted to this with a drop. US 10Y bond yields have fallen to 2.255%. The Euro/dollar rate rose to 1.1220 and this growth continued in Asia to 1.1245.
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24 May 2017

Media reviews

Tina Pham

Moody's downgrades China, warns of fading financial strength as debt mounts (news: 24/05/17)

Moody's Investors Service downgraded China's credit ratings on Wednesday for the first time in nearly 30 years, saying it expects the financial strength of the economy will erode in coming years as growth slows and debt continues to rise.
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Market sessions

Gabriel Ojimadu

EURUSD: correction on the Euro underway

The Euro/dollar pair closed Tuesday's trading down. Sellers managed to almost completely erase Monday's gains (engulfing the body of the candlestick). A rise in US bond yields in response to increased probability of the Fed tightening their monetary policy in June acted as a catalyst for the US dollar's growth. On Tuesday, the 23rd of May, according to CME Group's FedWatch, the probability of interest rates going up in June has risen from 78.5% to 83.1%, in July from 79.5% to 84.4% and in September from 86.3% to 88.6%.
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