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Forex market reviews

18 September 2017

Media reviews

Tina Pham

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

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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

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

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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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15 September 2017

Media reviews

Tina Pham

Tina Pham

China's Bitcoin Exchanges Receive Shutdown Orders and Closure Timeline (news: 15/09/17)

China's bitcoin and cryptocurrency exchanges have received instruction that they will need to voluntarily shut down by September 15.
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Market sessions

Tomasz Wisniewski

Tomasz Wisniewski

Daily analytical report (15/09/17)

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Markets seem to have completely ignored North Korea's latest missile launch. So, since there aren't any significant movements in connection with this, today we'll be looking at DAX, bitcoin, USDCAD, and DXY.
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Cryptocurrencies

Gabriel Ojimadu

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BTCUSD: where will it stop?

At the beginning of September, Chinese authorities issued a ban on ICOs. This was the beginning of the storm. Bitcoin’s first drop of 21% was halted by buyers at 3,900 USD. The regulator then started hinting at unlicensed exchanges to start closing down voluntarily. The psychological barrier of 4,000 USD couldn’t resist the second wave of bitcoin sales. After breaking through this level, the storm became a hurricane. Over the course of the last two and a half days, the price has collapsed by 24%. So, since the start of this period, the bitcoin has fallen by 39%, from a high of 4,970 USD all the way down to 3,024 USD.
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Market sessions

Gabriel Ojimadu

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EURUSD: the market is balanced and the rate is poised to deviate from the LB

On Thursday the 14th of September, trading on the euro/dollar currency pair closed slightly up. In the European session, the single currency fell against the dollar to 1.1838. The pair shed 50 pips in the space of a minute after consumer inflation data was released in the US. Consumer prices turned out higher than expected and higher than the previous value.
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