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Forex market reviews

10 August 2016

Media reviews

Fiona Chen

Fiona Chen

Bank of England survey bolsters view of weaker British economy (news:10/08/16)

Growth slowed across British business services and consumer spending eased last month, a Bank of England survey showed, offering a more mixed picture of the economy than some of the gloomier indicators since June's Brexit vote.
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Commodities

Natalia Milchakova

Natalia Milchakova

Downtrend on the crude market continues

Last week the downtrend on the crude oil market was broken, and crude prices went up. The prices of WTI rose 4% and reached $42.7/bbl. On August, 8, the price of WTI reached its weekly high of $42.81/bbl. However, the next day it failed to remain at that level and plunged 0.25% to $42.7/bbl. The important resistance level is located at $45/bbl. Nevertheless, WTI price did not yet reach this level.
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Commodities

Natalia Milchakova

Natalia Milchakova

Chinese FDI figures more than desirable

The oil market on Tuesday saw a correction on the week’s growth, albeit a pretty weak correction. On 9th August, Brent fell 0.4%, being unable to hold at the $45 per barrel level, and closing at $44.97. On Wednesday morning, the fall in oil quotes is continuing, although the stock market players have been trying their best to take $45 per barrel and then even strengthen above it. The morning of 10th August sees Brent on the IPE for $44.92, but the maximum price has already risen to $45.03.
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Market sessions

Gabriel Ojimadu

## ojimadu name

Euro ready to strengthen further against the dollar

My expectations for yesterday rang true. The euro dollar consolidated in a 1.1070-1.1105 range and then headed upwards. The trend line was broken at 1.1105. The road to 1.1215 is now open.
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09 August 2016

Media reviews

Fiona Chen

Fiona Chen

Sterling under $1.30 on sluggish data and dovish words on policy (news:09/08/16)

The pound fell 0.4 per cent to $1.2982, breaking below the $1.30 threshold for the first time in 19 trading sessions. The currency has previously found support after the UK’s Brexit vote around the $1.30 mark, having closed under it only four times since the referendum. It left the currency on course for its fifth successive session of declines.
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Market sessions

Natalia Milchakova

Natalia Milchakova

Oil market still on the rise

The oil market on Monday continued the growth path that it was on after switching from a falling trend last week. On 8th August, Brent rose 1.7%, breaking the important $45 per barrel level and closing at $45.16. On Tuesday morning, the growth in oil quotes has stopped and traders are fixing profit. The morning of 9th August sees Brent on the IPE for just $44.95, although we’ll see what happens as the day drags on.
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Market sessions

Gabriel Ojimadu

## ojimadu name

EURUSD in sideways

Investor activity during the American session was low. Due to the lack of catalysers for movement, the EURUSD dropped to 1.1072 and then restored to 1.1088 by trade opening in Asia. The euro spent the day in a 33 point corridor range.
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