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Forex market reviews

01 July 2016

Market sessions

Vladislav Antonov

Euro Expected to Strengthen

The downward correction on Thursday went deeper than expected. After a renewal of the session maximum, the euro corrected to 1.1024 (forecasted: 1.1070). A sharp rebound was caused by a weakening of the pound after the BoE’s Mark Carney spoke. He promised to loosen UK monetary policy after summer.
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30 June 2016

Media reviews

Natalya Indeeva

German Unemployment Declined Before Britain’s Shock Leave Vote (News: 30/06/16)

The number of people out of work fell by a seasonally adjusted 6,000 to 2.69 million, data from the Federal Labor Agency in Nuremberg showed on Thursday. The median estimate in a Bloomberg survey was for a drop of 5,000. The jobless rate remained unchanged at a record low of 6.1 percent.
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Market sessions

Vadim Josub

Market Still Correcting

Prices of oil are continuing to restore and this is not only being facilitated by falling US oil reserves, but also a rethink of the Brexit referendum’s consequences. Data from the EIA on Wednesday showed that oil had fallen more than expected (down 4.053 million barrels against an expected 2.375 million barrel fall). As for the Brexit, the first reaction to the referendum on commodity markets, excluding gold, but including oil, was a fall due to the rise in likelihood of a slowing of growth in the global economy.
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Market sessions

Vladislav Antonov

Euro Risks Falling to 1.1070

The rise in the stock markets and the price of oil on Wednesday facilitated a strengthening of the commodity currencies and, via them, the euro. The price of Brent again surpassed the psychological $50.00 per barrel level.
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Alexander Razuvaev
Alexander Razuvaev

Director of Alpari's analytical department

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Vadim Iossub

Senior Alpari analyst

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