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Forex market reviews

02 August 2018

Media reviews

Tina Pham

Dollar, yen rise as U.S.-China trade war worries perk up (news: 02/08/18)

NEW YORK (Reuters) - The dollar rose against a basket of currencies on Thursday, as a flare-up in trade tensions between the United States and China drove traders to buy the U.S. currency.
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Commodities

Tina Pham

Trade war causing a collapse in copper prices

It’s not the best of times for the copper market, and as the world looks on at the China-US trade dispute, metal prices are plummeting. It came to light this week that Washington is seriously considering imposing higher tariffs on Chinese goods. The tariffs may be increased to 25% from the previously-proposed 10%. It’ll probably be a matter of weeks before a final decision is made on the scale of the tariffs and when to impose them. The tariffs are expected to apply to around 200bn USD worth of Chinese products. This will make it more and more difficult for China to break into US markets. There are already tariffs in place on around 50bn USD worth of Chinese goods, which have already caused jitters on the market.
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Market sessions

Tomasz Wisniewski

Daily analytical report (02/08/18)

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The bullish setup on USD still persists on the market, CHFJPY is trying to erase the gains from the first two days of this week, and FTSE broke the major upwards trend line and the lower line of the wedge pattern.
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Cryptocurrencies

Gabriel Ojimadu

XBTUSD (Bitmex): buyers try to recover losses

On Wednesday the 1st of August trading on bitcoin closed down. That being said, buyers managed to recover most of their losses after hitting a new low. As a result, a candlestick with a long tail was formed. Because of its large body, it does not count as a reversal.
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Market sessions

Gabriel Ojimadu

EURUSD: correction to 1.1705 in the works

On Wednesday the 1st of August, trading on the euro closed down against the US dollar. The euro’s slide was brought about by growth on the dollar across the board as well as a rise in US10Y bond yields.
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01 August 2018

Media reviews

Tina Pham

Apple shares hit record as bright forecast highlights future demand (news: 01/08/18)

(Reuters) - Shares of Apple Inc (AAPL.O) hit a record high on Wednesday and neared a $1 trillion valuation, after the company forecast blowout current-quarter sales and analysts said a September launch of new iPhones set the stage for sustained growth.
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Market sessions

Tomasz Wisniewski

Daily analytical report (01/08/18)

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Today, we have setups on three different markets: Forex, commodities and cryptocurrencies.
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Cryptocurrencies

Gabriel Ojimadu

XBTUSD (Bitmex): a new phase of decline has begun

On Tuesday the 31st of July, trading on bitcoin closed down. The world’s top cryptocurrency depreciated by 5.46% against the dollar. The last 24 hours has seen 5.8bn USD in trading volume, including 2.6bn USD in purchases, and 3.1bn USD in sales.
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Market sessions

Gabriel Ojimadu

EURUSD: on the way to 1.1645

On Tuesday the 31st of July, trading on the euro closed down. In the US session, the dollar recovered its daily losses and moved into positive territory against the majors. It got a boost from positive US data as well as a Bloomberg report. The euro dropped from its high of 1.1748 to 1.1684.
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