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Here are the latest developments in global markets: · FOREX: The US dollar index was marginally lower on Wednesday, after previously trading higher for three days in a row.
NZDUSD has shifted to a neutral stance on the 4-hour chart, after a strong rally that took prices to a 5-month high of 0.7345 on June 30.
29/06/2017| Market Overview-Fundamental
The dollar index, a broad measure of the greenback’s strength, hit a nine-month low......
27/06/2017| Market Overview-Fundamental
As the Asian markets were closing for the day, major currencies were mostly range-bound in a relatively quiet session due to few data releases and ahead some of the key events scheduled for later in the day.
EURUSD hit 1.1219, a near two-week high, in yesterday’s trading. Nevertheless, it failed a successful close above the 1.12 handle.
As the Asian trading session is coming to a close, the dollar is modestly down while commodity-linked currencies, such as the loonie, are gaining ground versus the greenback on the back of oil rising.
Crude oil prices fell by 2% on Tuesday as investors continued to fret about the lingering oversupply, which is showing no sign of easing despite 6 months of output restrictions by major producers.
The British pound has been weighed by political uncertainty that has been brought about by Brexit as well as the inconclusive outcome of the snap general election that took place on June 8 that resulted in a hung parliament.
20/06/107| Market Overview-Technical
The US dollar was firmer on the back of hawkish comments from Federal Reserve officials.
EURCAD has been in a downtrend since falling from the June 2 high of 1.5257. There is risk to the downside since the momentum indicators are bearish.