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Simon Smith - Articles and news items

Continued FX volatility ahead

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

The past month has seen FX volatility increase for a variety of reasons and things don’t look set to calm down this week, with two key events to look forward to.

Pressure on the Aussie

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

The Aussie was looking decidedly weak yesterday, having been pushed lower by a combination of weak iron ore prices (down more than 6% in Sep) and softer domestic data.

More exciting times in FX

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

The past 24 hours have seen some key moves in FX, most notably on the yen which has weakened further and taken USDJPY above the 106 level and more decisively above the tight range than has held so far this year.

Dollar move gains momentum at expense of euro and sterling

Daily Forex Brief: FxPro / 9 September 2014 / Simon Smith, FxPro

The dollar rally that commenced in earnest just over two months ago seems to be gathering pace at the expense of many dollar denominated commodities such as gold and oil.

GBP significantly weakened

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

The pound has weakened significantly during the Asia session on the back of the latest polls suggesting that the upcoming referendum on Scottish independence could be won by those wanting Scotland to separate from the United Kingdom.

Breaking away

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

Yesterday was a turning point for the single currency, as the ECB finally showed that it was serious in tackling the risk of deflation in the eurozone.

Markets expect action from ECB

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

All eyes of the ECB today and one can’t help thinking “we’ve been here before”. It seems that in the run up every ECB meeting in the past few years, in fact ever since Mario Draghi said famously that he would do “whatever it takes”, there’s been a build-up of expectation that something major will be announced in a bid to halt the deflationary spiral.

PMIs a focus to see if sterling and euro can recover

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

Sterling was swimming against the tide yesterday despite an attempt at making some modest gains early in the day yesterday following construction data that showed the sector was seeing its strongest conditions since 2007.

Dollar makes more gains at expense of Sterling and Aussie

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

The dollar is creeping higher once again this morning as it hit a new 12 month high overnight with the trend higher looking day by day to become more entrenched.

ECB options still looking limited

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

Ultimately, what FX markets need is policy divergence between central bank policies of different currencies.

Steering through month end

Daily Forex Brief: FxPro / 29 August 2014 / Simon Smith, FxPro

We come to the end of a week that has been mixed for the dollar overall, with loses vs. the CAD, JPY and Aussie, but gains against the euro, kiwi and (marginally) the Swissie.

Cruising to month end

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

We are likely to cruise into the end of the week and month end, with the major data releases and events of the month behind us. That said, there are three underlying themes to FX markets that continue to drive the price action.

Focusing on Europe

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

Things didn’t quite go to plan for the dollar on Friday in the wake of comments from Fed Chair Yellen.

Waiting for Yellen

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

You could tell that markets were playing a waiting game on Thursday. The dollar gave back some gains, but only partially against the Aussie and the euro.

Growing dollar confidence

Daily Forex Brief: FxPro / 20 August 2014 / Simon Smith, FxPro

The overnight session has seen further creeping strength of the dollar, building on the gains seen during Tuesday.