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Simon Smith - Articles and news items

Eurozone inflation data unlikely to halt EURUSD trend

Daily Forex Brief: FxPro / 31 July 2014 / Simon Smith, FxPro

In response to yesterday’s Outlook question, the answer is yes and in some style. The US not only recouped its growth losses for Q1 by showing Q2 growth was 4%, but the decline in Q1 was revised upwards.

Can US GDP recoup losses from Q1?

Daily Forex Brief: FxPro / 30 July 2014 / Simon Smith, FxPro

Dollar bulls were given yet another boost yesterday as the US revealed better than expected consumer confidence data and the dollar index hit a fresh five and a half month high during the session.

July is month of the dollar

Daily Forex Brief: FxPro / 28 July 2014 / Simon Smith, FxPro

As we enter the last few days of July we can safely say that it’s been the dollar recovery that’s been one of the outliers of the month.

Eyes on sterling

Daily Forex Brief: FxPro / 25 July 2014 / Simon Smith, FxPro

The break back below the 1.70 level on cable yesterday reflected the extent of the dollar recovery seen during July, but also the more balanced view being taken towards the possibility of higher UK rates this year.

Kiwi shot down

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

The dollar continues to assert itself, rising for 7 of the past 10 sessions on the dollar index, but it’s by no means universal.

Emerging dollar strength

Daily Forex Brief: FxPro / 23 July 2014 / Simon Smith, FxPro

So far this month (and quarter) there has been a more dominant trend towards dollar strength. It’s happening around 6 months later than anticipated, but nevertheless it is emerging.

Playing policy potential

Daily Forex Brief: FxPro / 22 July 2014 / Simon Smith, FxPro

The bigger risk events for currency markets fall into the latter half of the week, meaning that for now majors are constrained to relatively tight ranges with little impetus to breakout either side.

Explaining the subdued tone to FX

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

The crisis in the Ukraine and the wider pressure being put upon Russia over the weekend is the main point of focus for markets at the start of the week.

Eurozone inflation could determine further euro weakness

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

An element of risk off sentiment has knocked the equity markets overnight and is causing headwinds for indices this morning as the US ramps up sanctions against Russia by targeting individual firms.

Yellen gives dollar a helping hand ahead of key UK wage data

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

Yesterday and overnight saw a little pick up in volatility as a number of events stirred traders into action.

Gold suffers profit taking

Daily Forex Brief: FxPro / 14 July 2014 / Simon Smith, FxPro

The week gets off to a very quiet start with little in the way of economic data out today which doesn’t help much with the overall lack of volatility as this continual sense of “calm before the storm” endures.

An orderly correction

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

The remarkable thing about yesterday and also this week is just how little the single currency has reacted to a 4% correction in European stocks (Eurostoxx 50 index) over the past 5 sessions.

Fed reminds us tapering is not tightening

Daily Forex Brief: FxPro / 10 July 2014 / Simon Smith, FxPro

At least one FOMC guessing game ended last night after the minutes revealed that tapering will end in October with a final $15 billion reduction in asset purchases, rather than leaving the last $5 billion until December.

Watching Aussie resilience

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

After a good start to the month (strong employment report), the dollar has settled into a steadier tone so far during July.

A better dollar tone

Daily Forex Brief: FxPro / 7 July 2014 / Simon Smith, FxPro

The rise in the dollar over the past few sessions has coincided with a rise in bond yields, with the 10Y now near the top of the 2.45%-2.65% range that has existed for most of the past 2 months.