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Tag Archives: forex

Risk Appetite Heightens On US Tax Reform

Overview President Donald Trump proposed the biggest tax reform to the US tax system in three decades, pushing the dollar to a five-week high. The tax agenda will likely get less push back from Congress than originally thought. Additionally, the features of the reform will help to support earnings growth and propel the US economic recovery. The dollar was 0.11% weaker against a basket of major currency...

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Euro Weakens On German Election Results

After a weaker-than-expected result from the German elections– the worst for the Christian Democratic Union in 70 years – the euro dipped lower. However, the declines will likely be capped and the euro is forecasted to rebound. Increased demand for anti-immigration Alternative for Germany party, the first time the nationalist party has entered parliament since the Second World War, left Angela Merkel with less power. Still, Ms ...

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Markets traded sideways in a cautious mode, await FOMC policy decision

Summary: We will see the outcome of FOMC policy decision at September meeting which is considered as the most important move this year at early hours on Thursday BJT, with tapering plans in focus. Forex and precious metals trapped in consolidation ahead of the aforementioned decision, an indication of cautious tone. The greenback mostly traded in a choppy session with some downward pressures on Tuesday, 19 September. It broke below the trading range this morning, with cautious tone ahead of...

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The dollar rally capped while gold declined further

Summary: The in-line-with-expected EU August CPI which rose to 1.5% (YoY) for the final figure from 1.3% gave some supports to the euro and helped it to hold above the 1 hour chart trend for now. The dollar index whipsawed on its 4 hour chart while the gold declined sharply below its daily EMA30, potentially to stage a corrective rebound in the short term. On the previous ...

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