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Forex market reviews

15 June 2016

Media reviews

Natalya Indeeva

China Below Pakistan at MSCI Shows Beijing’s Credibility Problem (News:15/06/16)

U.S. stocks snapped a four-day losing streak on Wednesday as lower chances of an interest rate hike offered solace to investors worried over the repercussions of Britain's possible exit from the European Union.
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Market sessions

Vladislav Antonov

Dollar Correcting Before Fed Meeting

The euro and pound have been strengthening against the dollar. The currencies are coming back to reality after the latest Brexit surveys (referendum to take place on 23rd June).
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Market sessions

Vadim Josub

Oil Still Correcting

Oil prices are continuing in their correction. All Tuesday they were in a $49.5-50.0 range per barrel of Brent, however a report from the API showed a growth in reserves of 1.518 million barrels against a previous week’s fall of 3.560 million barrels. As a result, oil dropped straight to $49.2 per barrel. On Wednesday during the Asian session, it managed to restore only to $49.1 after a fall to $48.9. This evening will see more oil reserve reports from the US (this time from the EIA) which are likely to lead to a rise in market volatility.
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Market sessions

Vladislav Antonov

Market Participants Getting to Grips with UK Leaving EU

The euro/dollar closed down 83 points yesterday at 1.1206. The euro fell under pressure after German 10-year bonds fell below zero. They are currently at -0.001% against a maximum fall’s 0.027%.
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14 June 2016

Media reviews

Natalya Indeeva

US Fed, Bank of Japan to Dominate Market Moves this Week (News: 14/06/16)

Two key central bank decisions sit at the top of investors' radar this week, after renewed global growth concerns saw U.S. stocks sell off on Friday while benchmark yields fell to record lows.
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Metals: gold and silver

Anna Bodrova

Gold Up by More Than 21% since Start of Year

Gold has been rising continuously since the beginning of this year, although the intraday fluctuations seem rather large scale and the correction phases seem like a full on inversion of the trend. However, the rising channel for gold seems stable. Since January 2016 to date, gold has increased in value by 21.4%; travelling from $1,061.50 to $1,289 for a troy ounce. The potential for a continuation of growth is enough for the long position target to be set at $1,400 per troy ounce buy the end of the year.
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Market sessions

Vladislav Antonov

Expected Extension of Correction to 1.1320

On Monday the euro closed up against the American dollar. By the close of the American session, the price had corrected from a 1.1232 minimum to 1.1278. From here the bulls lost all of their profit when the market saw information from a new Brexit survey. The survey indicated a rise in those wanting to stay in the EU. The pound/dollar lifted by 150 points to 1.4319. The euro/pound cross dropped 60 points to 0.7882. The euro/dollar dropped to 1.1237. The Guardian later went against the first survey from the ICM, saying that those in favour of Brexit are at 53%.
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Alexander Razuvaev
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Director of Alpari's analytical department

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