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Forex market reviews

15 July 2016

Media reviews

Fiona Chen

Oil prices fall as investors cash in on gains at week’s end (news: 15/07/16)

Crude oil prices edged lower in early Asian trade Friday as traders booked profits following the overnight rise, underpinned by market anxiety that the global glut is shrinking at a slower rate than expected.
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Market sessions

Gabriel Ojimadu

Euro/dollar: 1.1140 reached, now to 1.1176

On Thursday the tone was set by the GBP after the BoE had convened. The Bank left interest rates unchanged at 0.5%. Their asset purchasing program was also left as was at 375 billion pounds. The pound strengthened throughout the market and then weakened since the MPC discussed the introduction of measures to stimulate the economy; measures expected to be introduced in August.
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14 July 2016

Media reviews

Fiona Chen

Bank of England holds UK interest rates: what the economists say (news: 14/07/2016)

The Bank of England’s monetary policy committee (MPC) voted 8-1 to keep interest rates unchanged at their record low of 0.5%. Its newest member, Gertjan Vlieghe, backed an immediate quarter point cut but the rest preferred to wait until August, when the Bank is due to release its latest growth and inflation forecasts. This is what economists made of the decision.
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Market sessions

Gabriel Ojimadu

Euro/dollar could shift to 1.1140

Expectations of a bottoming out yesterday came off in full. The GBP corrected before the Bank of England convened. Due to a rise in the euro/pound, the euro/dollar rose to 1.1119.
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Alexander Razuvaev
Alexander Razuvaev

Director of Alpari's analytical department

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