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Market Reports

9:16am, April 26th 2019

Greenback victorious as shortened-week draws to a close…

The undisputed champion of this week’s trade is the US dollar. The currency has so far gained handsomely against all its peers, with considerable ground made against the commodity currencies and the euro.

The catalysts have been subtle. There has been no particular data-points or events which have caused a rise in the buck. Simply put, there’s been further recognition that the US dollar is the best of a bad bunch in a global economy which is still growing, albeit it at a much reduced pace.

Many have been asking if the move can continue. The answer is yes. The ‘DXY’ is a trade weighted index tracking the performance of the US dollar against a basket of currencies. This currently stands just above 98. However, after President Trump was elected the index rose to a high just below 104. As you can see, there’s plenty of room for the buck to run.

Today’s trading session is likely to be a volatile one after a busy week for US company earnings, mixed with a couple of key economic data releases, one of which is scheduled for lunchtime today. US Q1 2019 preliminary read will cross the wires at 13:30 and could create a decent amount of volatility through US dollar pairs. Consensus is for a 2% reading, anything above or below would likely be enough to rock markets.

Have a good weekend.

Written by Viv Savani. 9:16am, April 26th 2019

The details expressed in this market report are for information purposes only and are not intended as a solicitation for funds or a recommendation to trade. Cornhill International Payments limited accepts no liability whatsoever for any loss or damages suffered through any act or omission taken as a result of reading or interpreting any of the above information.

Previous Reports

8:28am, August 8th 2019

Markets stabilise, GBP still pressured…

View Report
8:46am, July 31st 2019

The big day arrives!

View Report
8:28am, August 2nd 2019

Bank of England stand pat, all eyes on US jobs report…

View Report

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