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mask Week Ahead | Trade War in Focus with Draghi in the Spotlight

23/ 07/ 2018

Week Ahead | Trade War in Focus with Draghi in the Spotlight

The dollar fell across the board on Friday, as the latest comments by U.S. President Donald Trump complaining about the strength of the greenback and the rise in U.S. interest rates squashed a rally that took it to a one-year high the previous session. Investors withdrew dollar buying and moved to safe haven currencies since Donald Trump’s comments and fear of two more Interest Rates for this year caused a spiral flow of dollar selling on high scale across the board which supported the boost to the rival currencies.

Looking ahead, another big week with U.S earnings, 2nd quarter GDP numbers, Trade wars and ECB monetary policy all in focus.

mask UK Retail Sales in Focus

19/ 07/ 2018

UK Retail Sales in Focus

The dollar held firm against its peers today, supported by bullish comments from the U.S. Federal Reserve chairman, which affirmed expectations for at least two more interest rate hikes this year.

In closely watched congressional testimony on Tuesday and again on Wednesday, Fed Chairman Jerome Powell said he believed the United States was on course for years more of steady growth, and carefully played down the risks to the U.S. economy of an escalating trade conflict.

Looking ahead, focus will turn to today’s UK retail sales. Swiss will release trade balance. From US will release jobless claims, Philly Fed survey and leading indicator.

mask UK Inflation to Drive the GBP, with Trump and Powell to Direct the USD

18/ 07/ 2018

UK Inflation to Drive the GBP, with Trump and Powell to Direct the USD

The dollar rose since yesterday climbing to a six-month high against the yen today, as Federal Reserve Chairman Jerome Powell provided an upbeat assessment on the U.S. economy while downplaying the impact of current global trade policy discussions on the outlook for further monetary tightening. Investors were watching Powell's comments on global trade for any hint that it may slow the pace of interest rate increases. When Powell did not dwell on global trade, analysts said that was a green light to buy U.S. dollars.

Looking ahead, it’s another important day on the economic calendar, with June’s inflation figures scheduled for release from UK. Across the Pond, economic data out of the U.S is limited to June housing data numbers, with building permits and housing starts scheduled for release. While upbeat numbers tend to be Dollar positive, the housing sector reflective of economic conditions, FED Chair Powell and President Trump will likely remain the main areas of focus.

mask Fed Powell's Testimony puts the USD in the Spotlight

17/ 07/ 2018

Fed Powell's Testimony puts the USD in the Spotlight

Wall Street, European Stocks Edge Lower Ahead of Trump-Putin Summit in Helsinki. Global stocks weakened Monday, with investors adopting a cautious stance to trading ahead of a today's summit in Helsinki between U.S. President Donald Trump and Russian President Vladimir Putin and in the wake of a weaker-than-expected data from China that suggest growth in the world's second-largest economy is set to slow into the second half of the year.

President Trump Tweeted early Monday that U.S.-Russian relations had never been worse, thanks to what he continues to call a biased investigation into allegations that Moscow successfully meddled in the 2016 election, that latest of which produced the indictment of 12 Russians accused of hacking into emails held on the server of the Democratic National Committee

Today Asian stocks sagged, weighed by a sharp decline in crude oil prices as Libyan ports reopened, while the dollar steadied ahead of Federal Reserve Chairman Jerome Powell’s first congressional testimony. Asian stocks sagged on Tuesday, weighed by a sharp decline in crude oil prices as Libyan ports reopened, while the dollar steadied ahead of Federal Reserve Chairman Jerome Powell’s first congressional testimony.

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