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Forex market reviews

22 July 2016

Media reviews

Fiona Chen

Fiona Chen

Britain's economy wilting fast after Brexit vote, may prompt more spending (news: 22/07/16)

Britain's economy is shrinking, the broadest survey of business confidence since last month's historic vote to quit the European Union showed on Friday, leading finance minister Philip Hammond to pledge a loosening of purse strings if the weakness endures.
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Market sessions

Gabriel Ojimadu

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Double bottom formed after Draghi press conference

The euro/dollar on Thursday closed slightly up after the ECB’s Mario Draghi spoke. His speech turned out quite balanced. The euro/dollar first technically headed to 1.1060 and then returned to 1.0979. By trading close, quotes had stabilised by the balance line at 1.1020. Draghi said nothing new and didn’t make any announcement about additional expansion of the bank’s asset purchasing program.
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21 July 2016

Media reviews

Fiona Chen

Fiona Chen

US stocks trade mixed as Wall Street eyes earnings and data (news: 21/07/16)

U.S. stocks were mixed Thursday as Wall Street kept an eye on corporate earnings and economic data after record highs for the Dow and S&P this week.
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Market sessions

Vadim Josub

Vadim Iossub

Chinese trade up

The service trading volume in China for the first 5 months of 2016 totalled 2.08 trillion yuan; a YoY increase of 22.7%. This trading of services amounts to 18.5% of China’s domestic trading (previous: 15.3%). The rise in trading reaching almost 20% was in particular in the exports of computer (20.4%) and technical (23.9%) services, in addition to financial, advertising and informational services. Concurrently, there was an impressive rise in imports: 31.9%. The main factor for this growth was tourism: rising from 53.4% to 880.3 billion yuan for the first 5 months of this year. Taking June’s data into account, the service trading volume for the first half of 2016 is around 2.5 trillion yuan.
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Market sessions

Gabriel Ojimadu

## ojimadu name

Euro strengthening before ECB meeting

The euro’s Wednesday trading closed slightly down. The euro bulls quickly won back losses which were incurred after UK labour market data came out.
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