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Daily Forex Outlook

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Euro under Pressure as Draghi's Speech Comes Ahead Today

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Currencies

  • The euro (EUR) rose from 1.2858 to 1.2940 against the US dollar (USD). The single currency recorded its biggest gain since July after hitting a new 14-month low. Today the French monthly Industrial Production will be announced with expectations to drop by 0.4%.
  • The US dollar (USD) rose to a new 6-year high against the Japanese yen (JPY) at 106.45. The Japanese yen fell as the monthly Core Machinery Orders were worse than expected at 3.5% while the expectations were at 4.1%.

Equities

  • US equities fell yesterday while US Tech (NDQ) rose near its all-time high at 4110, as Apple revealed their new products, before retraced back to 4052. The US 500 (SPI) dropped to 1983 and the US 30 (DOW) went to 16983.

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AUDUSD Under Pressure, USDJPY Records 6-year High

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Currencies

  • The euro (EUR) rose from 1.2858 to 1.2940 against the US dollar (USD). The single currency recorded its biggest gain since July after hitting a new 14-month low. Today the French monthly Industrial Production will be announced with expectations to drop by 0.4%.
  • The US dollar (USD) rose to a new 6-year high against the Japanese yen (JPY) at 106.45. The Japanese yen fell as the monthly Core Machinery Orders were worse than expected at 3.5% while the expectations were at 4.1%.

Equities

  • US equities fell yesterday while US Tech (NDQ) rose near its all-time high at 4110, as Apple revealed their new products, before retraced back to 4052. The US 500 (SPI) dropped to 1983 and the US 30 (DOW) went to 16983.

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Pound under Pressure Ahead of Carney's Speech

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Currencies

  • The euro (EUR) dropped to a new 14-month low, from 1.2950 to 1.2880, against the US dollar (USD), despite the positive data from the German Trade Balance which were better than expected at 22.2 billion while expectations were at 17.3 billion. The pair still remains under pressure after the European Central Bank (ECB) cut the interest rates from 0.15% to 0.05% unexpectedly.
  • The US dollar (USD) rose to its highest level since October 2008 earlier today against the Japanese yen (JPY) at 106.33. The greenback strengthened as investors speculate on improved figures of Unemployment Claims and Retail Sales that are due this week.

Equities

  • US equities dropped yesterday. The US 500 (SPI) moved to 1997, the US 30 (DOW) went to 17074 and the US Tech (NDQ) to 4085.

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Pound Crashes as Scottish Independence Takes The Lead

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Currencies

  • The euro (EUR) remains near its one year low against the US dollar (USD) at 1.2938. The single currency remains under pressure as today the German Trade Balance will be announced and is expected to be at 17.3B.
  • The US dollar (USD) rose to 105.22 before retracing back to 105.11 against the Japanese yen (JPY), as the Japanese Current Account were worse than expected at 0.10T, while the expected were at 0.18T. The greenback continues to be the strongest currency despite the low Non-Farm Employment Change on Friday which were at 142K new jobs, while the expected were at 226K.

Equities

  • The UK 100 (FTS) closed on Friday at 6873 and it will be very interesting to see how it will react after the Scottish independence leads for first time in poll, as the sterling dropped by 160 pips.

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