The euro today traded at 13-month lows as it was driven lower by market volatility in emerging markets led by Turkey resulting in a strong US dollar. The EUR/USD currency pair traded lower due to the selloff in emerging market currencies, which increased the demand for the greenback at the expense of its peers including … “Euro Trades at 13-Month Lows on High Market Volatility”
Author: admin_mm
British Pound Trades at 14-Month Lows Despite Higher UK Inflation
The British pound today hit new record lows against the US dollar in the Asian session due to the risk-off sentiment in the markets, which favored the greenback. The GBP/USD currency pair retraced some of its losses after the release of the latest UK CPI data, which was in line with expectations. The GBP/USD currency … “British Pound Trades at 14-Month Lows Despite Higher UK Inflation”
US Dollar Holds Ground Despite Improving Market Sentiment
In general, safer currencies found little demand today as markets were recovering from the shock caused by the Turkish financial crisis. But the US dollar avoided losses for the most part, rising to the highest level in more than a year against the basket of major currencies. The Dollar Index rallied 0.36% today. Analysts speculated that it was because the Turkish crisis was not resolved, and investors were still buying the greenback as a hedge … “US Dollar Holds Ground Despite Improving Market Sentiment”
Japanese Yen Soft As Turkish Fears Ease
The Japanese yen was soft today as markets calmed after fears of the Turkish financial crisis eased. With that said, the currency trimmed losses against some of its rivals and erased them against the euro completely. The yen was the strongest currency during the height of risk aversion, therefore it is reasonable for the currency to demonstrate the biggest pullback when the market sentiment improved. It is important to remember that the crisis is … “Japanese Yen Soft As Turkish Fears Ease”
Canadian Dollar Strengthens on Booming Real Estate, Higher Energy Prices
The Canadian dollar strengthened on Tuesday thanks to positive real estate market numbers and higher energy prices. The loonie also bounced back against its US counterpart on the threat of an economic collapse in Turkey that could seep into other emerging markets. Crude oil prices surged after Saudi Arabia, one of the worldâs biggest energy producers and recent foe of Ottawa, announced it would be cutting output levels, leaving … “Canadian Dollar Strengthens on Booming Real Estate, Higher Energy Prices”
Euro Struggles to Rally on Upbeat Eurozone Data Amid Turkish Crisis
The euro today struggled to rally higher despite the release of upbeat data from across the Eurozone such as the German GDP report. The EUR/USD currency pair was largely weighed down by the ongoing currency crisis in Turkey, which has negatively affected the global financial markets. The EUR/USD currency pair today traded between a high of 1.1429 … “Euro Struggles to Rally on Upbeat Eurozone Data Amid Turkish Crisis”
More emerging and non-emerging economies could suffer from a strong dollar
The Turkish crisis is mostly about a change in global financial conditions. The Fed’s tightening and the raising of new tariffs weigh. Other emerging economies may follow and as we have seen, developed economies are not immune. The match that sparked the Turkish crisis was the US sanctions on Turkish ministers, an outcome of the … “More emerging and non-emerging economies could suffer from a strong dollar”
British Pound Rallies Then Drops on Mixed UK Jobs Data
The British pound today rallied briefly following the release of the UK labour market report for August, where the unemployment rate hit a new record low. The GBP/USD currency pair was weighed down by the higher than expected claimant count rate, which saw it drop from session highs back to its opening levels. The GBP/USD currency … “British Pound Rallies Then Drops on Mixed UK Jobs Data”
Aussie Mixed As Market Sentiment Improves, Economic Data Disappoints
The market sentiment improved today after fears about the crisis in Turkey eased, alleviating pressure on riskier currencies. Yet the Australian dollar was mixed as domestic macroeconomic data was also mixed, while economic releases in China, Australia’s biggest trading partner, were universally disappointing. The business confidence index reported by National Australia Bank ticked up from 6 to 7 in July. At the same time, the business conditions index fell … “Aussie Mixed As Market Sentiment Improves, Economic Data Disappoints”
EUR/USD: Downside Risk Unlikely To Evaporate N-Term Even If Turkey CB Takes Bold Moves – Danske
EUR/USD was hit by the Turkish crisis and managed to find some stability. What’s next? Can it recover on upbeat German GDP or will Turkey bring it down? Here is their view, courtesy of eFXdata: Danske Research discusses EUR/USD outlook in light of the possible impact of the ongoing Turkish Lira crisis. “Even in the … “EUR/USD: Downside Risk Unlikely To Evaporate N-Term Even If Turkey CB Takes Bold Moves – Danske”