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Simon Smith - Articles and news items

The fed plays with words

Daily Forex Brief: FxPro / 18 December 2014 / Simon Smith, FxPro

In 564 words, the US Federal Reserve yesterday told us that policy may rise next year, but it may not. The pre-meeting speculation centred around their stated intention to keep rates near zero “for a considerable period”.

The ride continues

Daily Forex Brief: FxPro / 17 December 2014 / Simon Smith, FxPro

The last full trading week of the month is proving to be nothing if not action packed. Yesterday, it was all about the rouble.

The rout in Russia

Daily Forex Brief: FxPro / 16 December 2014 / Simon Smith, FxPro

Last night, the Russian central bank removed any doubt that Russia is currently facing a currency crisis.

The next stage in Japan

Daily Forex Brief: FxPro / 15 December 2014 / Simon Smith, FxPro

The Japanese election results were always about the extent of Abe’s victory, rather than whether he would win.

Euro to face challenge of TLTRO

Daily Forex Brief: FxPro / 11 December 2014 / Simon Smith, FxPro

Yesterday saw further profit talking in the dollar with USDJPY dipping back to the mid 118 area, now sitting figure bid at the time of writing and EURUSD is recovering not far off the 1.2500 level.

Holding dollar positive

Daily Forex Brief: FxPro / 8 December 2014 / Simon Smith, FxPro

The dollar has retained the firmer tone gained in the wake of the jobs report of Friday, which showed further strong headline growth, together with better earnings data and a steady participation rate.

The dollar and jobs

Daily Forex Brief: FxPro / 5 December 2014 / Simon Smith, FxPro

As usual, the euro was buffeted around by the verbal gymnastics of the ECB President on Thursday.

Eyes on the euro once again

Daily Forex Brief: FxPro / 4 December 2014 / Simon Smith, FxPro

There have been some positive moves in stock markets this week, with US indices once again touching highs for the year and stocks in Asia also in positive territory.

Sterling focus on finances

Daily Forex Brief: FxPro / 3 December 2014 / Simon Smith, FxPro

The focus falls on sterling today with the UK Chancellor delivering his ‘autumn’ statement. This is essentially a mini-budget, even more so with an election only six months away.

Feeling more stable

Daily Forex Brief: FxPro / 2 December 2014 / Simon Smith, FxPro

Yesterday, Europe decided it wanted to undermine the firmer dollar tone that emerged during the Asia session, with sterling the most prominent beneficiary of the dollar reversal.

The one way street in oil

Daily Forex Brief: FxPro / 1 December 2014 / Simon Smith, FxPro

The week and new month starts with two primary points of interest. The first is the oil price, which slumped last week, with further weakness being seen in the early part of this week.

OPEC fails to stop crude price decline

Daily Forex Brief: FxPro / 27 November 2014 / Simon Smith, FxPro

The squeeze continues for the shorts in EURUSD as it recaptured the 1.2500 level on the back of yet further weaker than expected US data.  It was as if buyers of the dollar had packed up early for Thanksgiving which will take the edge of today’s trading session and will suffer from very low volumes.  […]

Crude prices stuck at 4 year low ahead of OPEC

Daily Forex Brief: FxPro / 26 November 2014 / Simon Smith, FxPro

The euro’s bounce against the dollar continued yesterday as stronger GDP data from the US wasn’t enough to compete against a poor consumer confidence reading.

Focusing on dollar strength

Daily Forex Brief: FxPro / 24 November 2014 / Simon Smith, FxPro

The spanner in the workings of FX markets last week was the interest rate cut from China on Friday.

Yen finally takes a breather

Daily Forex Brief: FxPro / 21 November 2014 / Simon Smith, FxPro

It’s not often you have a Japanese official talking about the yen being too weak, but we did overnight, something which put pay to the up-move in USDJPY.