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The dollar index whipsawed wildly on the back of tepid U.S. inflation

Summary: The dollar declined sharply immediately after the release of all worse-than-expected U.S. major macro data, including CPI and its core measure, retail sales for September. However, the greenback bounced back strong and recouped all of its losses in late session. The gold continued to rebound and went back above 1300. Whether or not the yellow metal’s rally could sustain will be important to watch. The forex market traded in ...

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FOMC minutes could not reverse weakness in the dollar

Summary: The dollar index declined for the fourth trading day in a row after the release of minutes from FOMC at its September meeting which showed some FED members cautious on another rates hike by the end of 2017 and which was less hawkish than expected. OPEC forecasted higher global demand for its oil in 2018 in its latest monthly oil market report. The ...

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The dollar index fell below trend support ahead of FOMC meeting minutes

Summary: The dollar index fell below H4-period EMA60, but found support at around H4-period EMA200. The index could stage corrective consolidations, with upper boundary at EMA60, lower boundary at EMA200. It will be worth watching whether or not the minutes of FOMC at meeting September which due to release at 2:00AM Thursday BJT could offer some supports to the greenback. The dollar continued to retreat against a basket of six majors ...

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Trump’s tweets ignited risk aversion instantly

Summary: The greenback slipped while the safe havens Japanese yen and the gold rose in early Asian session amid increasing risk aversion as Trump commented over North Korea on twitter again. Wall Street was mixed on Monday, with Dow Jones whipsawed at its highs while S&P 500 and Nasdaq modestly retraced. We should be aware of another corrective decline in the U.S. stocks. The dollar...

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