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Daily Forex News and Analysis — May 28th 2017

The EUR/USD pair fell by 0.24%, closing the week at 1.1183. The GBP/USD pair dropped by 1.07%, closing the week at 1.2804 exchange rate. British Airways experienced a massive computer failure on Saturday, causing the airline's systems to cancel most of its flights and leaving many passengers stranded. As of this morning, some IT services have returned and long haul flights are scheduled to operate as normal. It remains unclear at this point how the outage […]

USD Struggles to Gain Ground

The US dollar showed a slight upward trend. Traders are on edge amid the release of the US statistics and the results of the G7 meeting. The US dollar index decreased once again after the FOMC revealed their plans to keep the funds rate unchanged at the June meeting. In addition, uncertainty over the Donald Trump's policy puts pressure on the American currency. Today, the US dollar index is close to 97.10. Today, the G7 summit starts in Italy. […]

OPEC Extends Deal But Oil Trades Lower

Oil prices lack momentum today. Analysts expect the commodity to end this trading week in negative territory. Thus, Brent Crude Oil retreated from the high at $54.50 per barrel to the level of $51.38 per barrel yesterday. As widely expected, the OPEC members decided to extend the deal on output curb for another 9 months. One of the reasons behind oil depreciation is that traders act according to the principle of buy the rumour and sell […]

Traders Focus on Euro and Ruble

Traders focus their attention on the European session. Yesterday, economists expected the euro to dip down against the US dollar, but today the pair recovered to its previous highs. The euro is trading at 1.2224 against the US dollar. Analysts believe that the pair can correct to 1.12. Today, market participants analyze the minutes of the FOMC meeting. The officials stated that they do not plan to raise the key interest rate in the near […]

Daily Forex News and Analysis — May 25th 2017

Wall Street finished in the green as investors believe a rate hike may come sooner than expected. The Dow Jones rose by 0.36% and the NASDAQ added 0.40% to its value. The US dollar traded mixed against the other major currencies as the Fed gave investors some clues about a potential rate hike next month. The Existing Home Sales came out less than expected at 5.57 million vs. 5.65 forecasts. Today, […]

Oil Extends Gains

It is only a day left before the most important event in the oil market, the OPEC meeting. Ahead of it, investors cautiously opt for oil futures. Today, Brent Crude Oil is trading at $54.35 a barrel. Analysts note that market participants are largely optimistic about the meeting results. According to reliable sources, almost all OPEC countries and non-OPEC oil producers are ready to extend the deal to cut production. […]

Daily Forex News and Analysis — May 24th 2017

Wall Street closed higher, as the recent political turmoil weighing on equities eased in the wake of president Trump's absence. The Dow Jones rose by 0.21% and the NASDAQ added 0.08% to its value. The US dollar rose against a basket of major currencies on Tuesday, as investors waited for president Trump's budget proposal to be presented to Congress. Today, the FOMC Meeting Minutes is expected. Gold fell, closing at $1,252 an ounce. Crude Oil rose, closing […]

British Pound Attracts Investors

The pound sterling came under the spotlight today after the news about a terrorist attack in the United Kingdom. Reportedly, an explosion took place in Manchester after a concert. A suicide bomber is supposed to involved in this incident. This tragedy killed 22 people and 59 people were injured. However, the pound bulls shrugged off this sad news. So, the British currency is holding just below the level of 1.30. The Brexit issue […]

EU Releases Upbeat Data

Investors do not hurry to fix profits on the euro buy deals, as a result the EUR/USD pair continues to trade at fresh highs. The single European currency is trading at 1.1254 against the US dollar amid the release of upbeat economic data. According to the government data, the German economy expanded by 0.6% in the first quarter of 2017, holding well in line with what markets had earlier anticipated. The result was faster than a 0.4% growth […]

Daily Forex News and Analysis — May 23rd 2017

Wall Street closed higher, boosted by technology shares and defense companies, all of whom gained after the United States and Saudi Arabia signed a multi billion dollar arms deal. The Dow Jones rose by 0.43% and the NASDAQ added 0.82% to its value. The US dollar fell against a basket of major currencies on Monday. weighed by a surge in the euro after German Chancellor Angela Merkel said that the single currency was too weak. […]

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