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Forex market reviews

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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23 May 2017

Market sessions

Gabriel Ojimadu

EURUSD: Euro-bulls reluctant to take profit

On Monday, the Euro closed up against the US dollar for the second session in a row. Since the 11th of May, the single currency has appreciated by 3.76% or 408 pips. It's been updating its highs for 7 days, just like the bitcoin. The EUR/GBP cross is in unison with buyers, so sellers are struggling to break out of this upwards movement. Market participants are only paying attention to information that moves the rate in the direction of the trend and not against it.
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Alexander Razuvaev
Alexander Razuvaev

Director of Alpari's analytical department

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