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Forex market reviews

25 July 2018

Media reviews

Tina Pham

EU prepares retaliatory tariffs on $20 billion of U.S. goods (news: 25/07/18)

STOCKHOLM/BERLIN (Reuters) - The European Commission is drawing up a list of $20 billion of U.S. goods to hit with duties if Washington imposes tariffs on imported cars, European Union trade commissioner Cecilia Malmstrom said on the eve of her boss’s meeting with U.S. President Donald Trump.
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Market sessions

Tomasz Wisniewski

Daily analytical report (25/07/18)

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CPI data sinks the Aussie, NZDCAD is trading sideways waiting for a breakout, and sentiment on the USDJPY is positive.
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Commodities

Natalia Milchakova

BRICS summit could be one to remember

The next summit of the leaders of the BRICS nations (Brazil, Russia, India, China, South Africa) is set to be held today (Wednesday the 25th of July) in Johannesburg South Africa. Not only is South Africa hosting the summit, but they are also the current chair of the group. The five countries making up the bloc account for 28% of global GDP and 42% of the world’s population, with the cumulative territory of these countries making up a quarter of the globe’s land mass.
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Market sessions

Veselin Petkov

US economy building momentum

US economic growth remains stable, according to the IHS Markit PMI composite for July, published yesterday at 16:45 (GMT+3). According to Markit’s preliminary report, the PMI composite for July is at 55.9 points, one its best values over the last 3 and a half years.
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Market sessions

Veselin Petkov

Overview of the Forex market (25/07/18)

This morning, in the run-up to the opening of the European session, EURUSD is trading at around 1.16875, in other words, almost at the same level as yesterday morning. As I wrote earlier, I do not expect any big changes in the major currency pairs before the ECB monetary policy meeting, the results of which will be published tomorrow at 16:30 (GMT+3).
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24 July 2018

Media reviews

Tina Pham

Oil steady as U.S.-Iran row balances trade worries (news: 24/07/18)

LONDON (Reuters) - Oil prices steadied on Tuesday as tension between the United States and Iran highlighted risks to supply and trade disputes raised the prospect of slower economic growth and weaker energy demand.
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Market sessions

Veselin Petkov

Eurozone economic growth could slow down

In the coming months, the pace of economic growth in the Eurozone could slow down. That is, according to the IHS Markit report on the Eurozone for July, published today at 11:00 (GMT+3). The preliminary PMI composite from IHS Markit shows a decline to 54.3, down from 54.9 in June, marking one of the lowest values seen on this index in 2 years.
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Market sessions

Tomasz Wisniewski

Daily analytical report (24/07/18)

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Silver looking at a potential iH&S model, while CHFJPY and USDCHF are looking for potential sell signals.
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Market sessions

Veselin Petkov

BoE deputy governor sets out path for quantitative tightening

Yesterday, the 23rd of July, deputy governor of monetary policy at the Bank of England Ben Broadbent said that if the Monetary Policy Committee (MPC) starts to normalise its balance sheet - which has increased as a result of quantitative easing – and inflationary pressure eases, the first call of order would be to lower interest rates rather than stop the process of tapering the balance sheet.
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Market sessions

Veselin Petkov

Overview of the Forex market (24/07/18)

Over the last 24 hours, the EURUSD pair has seen a 40-pip correction; from 1.1717 to 1.1677. I'd like to note that yesterday there was no important macroeconomic data, nor any important economic events that could significantly affect major currency pairs.
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