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FOMC Ended Asset-Purchased Program, Dollar Strength Across the Board

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Currencies

  • The euro (EUR) crashed from 1.2770 to 1.2626 yesterday against the US dollar (USD) after the Federal Reserve officials ended the bond-purchase buying program after 5 years, as the labour market improved. Today the German monthly inflation rate will be announced and is expected to be at 0%.
  • The US dollar (USD) skyrocketed to 108.95 yesterday against the Japanese yen (JPY) as the US economy seems to recover faster, increasing the odds for a rise in interest rates next year. The greenback gained versus most major peers yesterday after the FOMC Statement announcement. Today the Japanese yearly inflation rate will be announced with expectations at 2.5% increase, along with the US quarterly Advanced GDP were its expected to be 3.1%.

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Dollar Weakened Ahead of FOMC Statement

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Currencies

  • The euro (EUR) continues its bullish trend reaching 1.2764 against the US dollar (USD) as monthly US Durable Goods Orders where worse than expected at -0.2% decrease while the expectations were 0.5% increase of orders. The single currency is under pressure as the Federal Reserve will announce the interest rate and is expected to be at 0.25%.
  • The US dollar (USD) climbed to 108.18 yesterday against the Japanese yen (JPY) as the US CB Consumer Confidence were better than expected at 94.5 which is a record high since January 2008, while the expectations were at 87.4. The greenback weakened the last three days against major peers before the FOMC Statement later today at 18:00 GMT, as investors cut their bets that Fed will increase their interest rates earlier.

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Stress Test Results Boost Euro

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Currencies

  • The euro (EUR) rose earlier this morning against the US dollar (USD) as the ECB stress test for the European banks were better than expected. Only 25 banks failed the test, but few of them need additional. Today the German Ifo Business Climate will be announced and is expected to be at 104.6.
  • The US dollar (USD) dropped to 107.94 earlier this morning against the Japanese yen (JPY) as the US economy seems to recover faster than the other economies. The greenback continues to strengthening against most majors peers before FOMC Statement this week. Today the monthly US Pending Home Sales will be announced and is expected to rise by 1.1%..

Equities

  • US equities gained on Friday as the drop in oil prices boosting production. The US 500 (SPI) advanced to 1959, the US 30 (DOW) went to 16735 and The US Tech (NDQ) to 4037.

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US Dollar Strengthens Across the Board

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Currencies

  • The euro (EUR) continues the downside and reached its weekly low at 1.2632 against the US dollar (USD) The single currency slid as the US CPI came out better than expected yesterday. Looking ahead the European PMI due today, may drive the pair lower if data will be lower than forecasts.
  • The British Pound (GBP) snap a two day losses as it fell from its high at 1.6183 down to 1.6010 against the US dollar (USD). The sterling is moving lower as the US dollar is strengthening across the board. The monthly UK Retail Sales are on the calendar, due at 08:30 GMT and with expectations at -0.1%..

Equities

  • The US 500 (SPI) climbed from 1885 up to 1943 yesterday reaching its two week high, before energy shares declined due to lower oil prices.

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