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Forex market reviews

21 May 2015

Market sessions

Analyst Contest participant

Alpari Analyst

Pound Rises on Strong Retail Sales Data

According to the statistics, UK April retail sales increased 1.2% in comparison with the previous month and are up 4.7% on the figures for last year. The report is significantly better than expected, giving grounds to suppose that the country’s economy could grow at a decent rate over the second quarter of 2015.
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Market sessions

Vladislav Antonov

Euro/Dollar Trading at Key Support

At the American session the euro/dollar rate again approached the 1.1070 mark after the publication of the US Federal Reserve’s minutes. Sellers didn’t manage to break the support since the members of the Federal Open Market Committee (FOMC) of the Fed expressed doubts about their readiness to raise interest rates in June.
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20 May 2015

Commodities

Anna Bodrova

World Oil Prices Rising Fast

Oil prices in the first half of the day on Wednesday have been rising fast. A barrel of North Sea Brent Crude now costs $64.91 (+1.3%). A barrel of WTI on the market is selling for $58.74 (+1.2%). Market participants have quickly turned around the fall in the price of oil and are now re-establishing their positions.
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Market sessions

Vladislav Antonov

Eurobears Trying to Take Back Control of the Situation

On Tuesday the demand for the American dollar allowed its respective index (DXY) to rebound to 95.49. In the first half of the day the US dollar was supported by two representatives from the ECB, Christian Noyer and Benoit Coeur. They both announced the ECB’s readiness to extend its QE program into summer. Weak German Eurozone and UK data put even more pressure on the pound and the euro.
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