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Forex market reviews

14 May 2015

Market sessions

Analyst Contest participant

Alpari Analyst

Euro/Dollar Could Go to 1.15 Due to Weak US Statistics

The euro/dollar pair reached the 1.1382 level. Weak American statistics are undermining the dollar’s position and, in case of further disappointment with regards to manufacturing prices and unemployment benefits in the US, the pair could test the 1.15 level. In any case, at the moment we’re talking about a correctional movement on the dollar.
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Commodities

Anna Kokoreva

Brent Crude Trading in the $66-68.50 Range

Over the course of the day, the price of Brent will trade in the range of $66-68.50 and WTI will trade in a corridor of $59-61 a barrel.
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Market sessions

Vladislav Antonov

Eurobulls Set to Push Higher

On Wednesday the euro was weak until 15:30 EET. The Euro was under pressure after the release of German and European GDP data. Economic growth in the Eurozone and in Germany was lower than expected. The index for April US retail sales gifted strength back to the eurobulls. The euro/dollar rate grew by 150 points to 1.1382. After the close in Europe, the market began correcting itself.
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13 May 2015

Market sessions

Vladislav Antonov

Fixing Started on Pound

The central bank dropped its GDP YOY forecasts for 2015 from 2.9% to 2.5%, for 2016 from 2.9% to 2.6% and for 2017 from 2.7% to 2.4%. It increased its forecast for inflation throughout 2015 by 0.1% to 0.6% and dropped its inflation forecast for 2016 by 0.2% to 1.6%. As for interest rates, Carney repeated that the next step would probably be to raise them.
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Commodities

Anna Kokoreva

Brent Crude Could Grow to $69.7 per Barrel Today

Oil quotes this morning have been correcting themselves after a growth yesterday evening. Brent Crude at 10:15 EET was trading at $67.23 and WTI with June delivery was at $61.20 a barrel. At Tuesday’s close, the cost of North Sea oil on June contracts was $67.24 a barrel and light crude with June delivery at the close of the New York session stood at $61.21 per barrel.
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Market sessions

Vladislav Antonov

Asian Participants Buy Euro

On Tuesday’s American session the euro/dollar corrected by 50% after a growth to 1.1278. The dollar partially won back some of its losses but the situation is becoming more confusing by the day. It’s unclear whether the euro will reach the trend at around 1.15. With any European QE, the euro receives supports from the growth in yield on German bonds (bond sales).
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