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Forex market reviews

26 May 2017

Media reviews

Tina Pham

China ups control of currency with yuan fix tweak (news: 26/05/17)

BEIJING--China's central bank said it was tweaking the mechanism for setting the yuan's daily fix to smooth out fluctuations against the dollar, an acknowledgment that the country is hitching the yuan's value closer to the U.S. currency.
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Market sessions

Gabriel Ojimadu

EURUSD: price trading in the middle of a narrowing range

Trading on the Euro on Thursday closed down. The price continued to trade within a daily range of 1.1160 to 1.1270. The pair fell to 1.1194. Buyers didn't allow sellers to push the price down any further as they received some support during the US session from the EUR/GBP cross.
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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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Alexander Razuvaev
Alexander Razuvaev

Director of Alpari's analytical department

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