The Japanese yen weakened today, falling against the US dollar, after Bank of Japan Governor Haruhiko Kuroda said that the central bank may ease its already extremely accommodative monetary policy further. Kuroda suggested today that the central bank may step in if a rise of the yen will hurt the economy and pose an obstacle for inflation reaching the 2% target: If (currency moves) are having an impact on the economy and prices, … “Japanese Yen Weakens After Kuroda Talks About Policy Easing”
Month: February 2019
Swiss Franc Flat vs. Majors, Gains on Yen & Commodity Currencies
The Swiss franc was flat against most major currencies, with the exception of the Japanese yen, after the release of a trade balance report in Switzerland today. Risk aversion helped the Swissie to gain on commodity currencies. Switzerland’s Federal Statistical Office reported that the trade balance surplus shrank to CHF 1.39 billion in January from CHF 1.76 billion in December, demonstrating the smallest surplus since September. The report was not necessarily bad, … “Swiss Franc Flat vs. Majors, Gains on Yen & Commodity Currencies”
Australian Dollar Falls After Release of RBA Minutes
The Australian dollar fell today after the release of monetary policy minutes by the Reserve Bank of Australia. The currency also declined as optimism about this week’s trade negotiations between the United States and China turned into cautiousness. The RBA was less optimistic about economy both domestic and abroad, saying: Slowing growth in China and ongoing trade tensions had led to lower growth in global trade. Forecasters had lowered their outlook … “Australian Dollar Falls After Release of RBA Minutes”
Chinese Yuan Gains on Trade Talk Momentum, Trade Data
The Chinese yuan is gaining against major currency rivals on Monday as it is being supported by US-China trade talk momentum and better-than-expected January trade data. The yuanâs ascent was capped on disappointing auto sales figures and future industry projections. Last week, an American delegation was in Beijing for US-China trade deliberations. Both sides failed to reach a new trade agreement, but investors are cheering on reports that the discussions … “Chinese Yuan Gains on Trade Talk Momentum, Trade Data”
Euro Rallies on Trade Talk Hopes, Drops on Shift in Investor Sentiment
The euro today rallied higher against the US dollar driven by investor hopes of a breakthrough in the ongoing Sino-US trade talks and a risk-on market sentiment. The EUR/USD currency pair’s performance today was largely driven by market sentiment given that US markets were closed in celebration of Presidents’ Day holiday. The EUR/USD currency pair today traded between a high of 1.1334 and a low of 1.1292 by rallying higher then retracing its gains before … “Euro Rallies on Trade Talk Hopes, Drops on Shift in Investor Sentiment”
3 reasons for euro/pound to rise, and where to
Bad news may be priced into the euro and not to the pound. The “Brexit cross” has room to move after a bit of stagnation. The technical levels provide guidance to the next moves of the pair. Euro/pound, aka the “Brexit cross” has been remarkably stable as Brexit nears. But such limited movement does not … “3 reasons for euro/pound to rise, and where to”
Sterling Opens Higher, Continues to Rise vs. US Dollar & Yen
The Great Britain pound opened sharply higher today. While it has backed off closer to the Friday’s close against some peers, the sterling continued to move higher versus such currencies as the US dollar and the Japanese yen. As for today’s macroeconomic data, the Rightmove House Price Index rose 0.7% in February after increasing 0.4% in January. Annual growth was at just 0.2%. The news about resignation of several Members of Parliament from … “Sterling Opens Higher, Continues to Rise vs. US Dollar & Yen”
Yen Weakest on Forex Market amid Risk Appetite, Japan’s Data Doesn’t Help
The Japanese yen was the weakest major currency on the Forex market today amid risk appetite caused by optimism about Sino-US trade talks. Better-than-expected domestic macroeconomic data was unable to provide support for the Japanese currency. The Japanese Cabinet Office reported that machinery orders (excluding volatile components) fell 0.1% in December from the previous month. The decline was much smaller than the forecast drop of 1.1%. Nevertheless, the orders were … “Yen Weakest on Forex Market amid Risk Appetite, Japan’s Data Doesn’t Help”
US Dollar Gains on Major Rivals, Retreats vs. Commodity Currencies
The US dollar gained on most major currencies during the past trading week but fell against commodity currencies. The reason for that was optimism about Sino-US trade talks, which led to risk appetite on markets. While no specific details were revealed, the United States and China released statements, claiming that progress has been made and announcing a meeting in Washington next week. That was a good news for the dollar. … “US Dollar Gains on Major Rivals, Retreats vs. Commodity Currencies”
EUR/USD: Need To Close Above 1.1345 To Reinforce Support – TD
EUR/USD hit new two-month lows as the situation in Europe worsens. What’s next? Here is their view, courtesy of eFXdata: TD Research discusses EUR/USD outlook and highlights the importance of closing above the 1.1345 level to regain some support in the near-term. “The majors sit mostly in a holding pattern, as the recent sessions showed … “EUR/USD: Need To Close Above 1.1345 To Reinforce Support – TD”