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Forex market reviews

02 November 2016

Market sessions

Gabriel Ojimadu

EUR/USD: expected correction from 1.1067-1.1093

On Tuesday by the end of trades the euro/dollar had risen 79 points and closed at 1.1056. The buyers switched into attack after the publication of weak stats from the UK. During the US session the growth hastened due to polls regarding the US presidential elections. The results of a survey poll showed 45.2% are ready to vote Trump and 44.5% are for Clinton. After this the dollar couldn’t be helped by positive stats from the ISM which showed that business activity in the manufacturing sector was up in October from 51.5 to 51.9 (forecasted: 51.7).
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01 November 2016

Market sessions

Gabriel Ojimadu

Expected fall for EUR/USD

The euro/dollar closed slightly down on Monday. After a fall to 1.0936 the price rose to 1.0982. The pair bounced from its minimum following the GBP upwards on news the BoE’s Mark Carney will remain governor until the end of June 2019. On Thursday he will hold the latest BoE meeting regarding interest rates for the UK. After this we will see the minutes from the meeting and an inflation report.
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