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Forex market reviews

20 July 2016

Commodities

Natalia Milchakova

Oil market review, 13-19 July

Last week crude oil prices demonstrated a weak recovery after the previous decline. The price of WTI futures rose 0.7% to $45.4/bbl. On Monday, July, 18, the price of WTI was trying to break the support level of $45/bbl, however, this attempt failed. Throughout the week, the price of WTI was fluctuating in a narrow range of $44.6-46.5, and we expect that such a trend is likely to continue into the current week.
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Market sessions

Gabriel Ojimadu

Euro/dollar: today’s situation is 50/50

What was expected to be seen on the euro on Wednesday was done on Tuesday. The US stats continue to stand on the side of the dollar bulls. The US housing market exceeded expectations. The number of construction permits and foundations lain in June rose.
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Market sessions

Vadim Josub

DIJA setting records

After yesterday’s close of the US DIJA at a new maximum, the Asian markets this morning were off in different directions. The Nikkei 225 fell by 0.4%. The ASX Australia was up 0.4%. The Shanghai Composite decreased 0.1%, and the Hang Seng was up by 0.8%. Futures for the S&P500 were trading at 2157; 0.1% below the closing level of the previous trading day.
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19 July 2016

Market sessions

Gabriel Ojimadu

Euro/dollar trading at balance point

The euro/dollar closed up 26 point on Monday. It updated its session maximum to 1.1083 and from there it dropped to 1.1063. The euro/pound cross was siding with the euro bulls, so the euro felt much better against the dollar than the pound.
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Market sessions

Vadim Josub

Political events having little effect on markets

The tension throughout the world from Nice and Istanbul to Yerevan and Almaty is, unexpectedly, having less of an effect on world markets than one would have thought. The majority of financial markets on Monday were lacking in volatility, with oil dropping from $47.9 to $46.5 per barrel of Brent despite the geopolitical risks.
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Alexander Razuvaev
Alexander Razuvaev

Director of Alpari's analytical department

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Vadim Iossub
Vadim Iossub

Senior Alpari analyst

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