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Simon Smith - Articles and news items

More sustained dollar weakness

Daily Forex Brief: FxPro / 26 March 2015 / Simon Smith, FxPro

The dollar is on the defensive in the early part of the European session. This is most noticeable on USDJPY, which is now below the 118.50 level.

Still deciding on the dollar

Daily Forex Brief: FxPro / 25 March 2015 / Simon Smith, FxPro

Yesterday was about the debate regarding the dollar; consolidation or correction. As always, it depends where you look, because at the moment it’s a fairly mixed picture.

Gauging the dollar correction

Daily Forex Brief: FxPro / 24 March 2015 / Simon Smith, FxPro

The question for markets right now is whether the dollar is pausing for breath after last week’s volatility, or we are seeing the start of a dollar correction from the relentless uptrend seen over the past 8 months.

Watching Canada jobs data

Daily Forex Brief: FxPro / 16 March 2015 / Simon Smith, FxPro

As next week’s Fed meeting approaches, more thoughts are being given to the impact of the relentless rise of the US currency on the broader economy.

Watching Canada jobs data

Daily Forex Brief: FxPro / 13 March 2015 / Simon Smith, FxPro

As next week’s Fed meeting approaches, more thoughts are being given to the impact of the relentless rise of the US currency on the broader economy.

The dollar dilemma

Daily Forex Brief: FxPro / 12 March 2015 / Simon Smith, FxPro

We are entering the European session with the dollar under pressure, but that comes after what has been a relentless rise so far this month and especially so against the single currency.

The push to parity

Daily Forex Brief: FxPro / 11 March 2015 / Simon Smith, FxPro

The path of least resistance for the single currency has been lower through most of the month and that was especially the case yesterday.

Fresh dollar gains

Daily Forex Brief: FxPro / 10 March 2015 / Simon Smith, FxPro

After the drama of Friday, we saw a relatively subdued start to the week in FX markets.

Daily Forex Brief: FxPro / 9 March 2015 / Simon Smith, FxPro

The single currency starts the week scraping itself from the floor after last week’s concerted push lower.

The €1 trillion ECB splurge

Daily Forex Brief: FxPro / 5 March 2015 / Simon Smith, FxPro

The euro suffered further losses against the US dollar yesterday hitting a fresh 11 and a half year low following a morning of mixed to slightly weaker than expected Eurozone services data and decent numbers from the US which attracted more buyers of dollars at the expense of the single currency.

Central banks continue to surprise

Daily Forex Brief: FxPro / 4 March 2015 / Simon Smith, FxPro

This time it was the turn of the Reserve Bank of India to surprise markets with an interest rate cut which has come at a time when a handful of central banks have surprised the markets recently by taking unexpected action.

The record dollar run

Daily Forex Brief: FxPro / 27 February 2015 / Simon Smith, FxPro

We highlighted yesterday the fall in volatility that had been seen over the past week, but also mentioned that month end brings with it risk of more erratic trading.

Ray of (volatility) Light

Daily Forex Brief: FxPro / 26 February 2015 / Simon Smith, FxPro

With the dust having cleared from the Swiss franc move, the Greece situation having been resolved (at least for now) and twenty central banks having now eased policy so far this year, FX volatility has been falling in the past week, like a caped fallen Madonna from a Brits Award stage.

Being patient for volatility

Daily Forex Brief: FxPro / 25 February 2015 / Simon Smith, FxPro

In the wake of Fed Chair Yellen’s testimony yesterday, the algo and machine readable news programs will be set to buy the dollar when the word “patient” is removed from the Fed statement.

It’s all about the rate

Daily Forex Brief: FxPro / 24 February 2015 / Simon Smith, FxPro

Today’s focus will be with Fed Chair Yellen’s testimony to the Senate Banking Committee in Washington.