The Japanese yen is strengthening against major currency rivals on Thursday, despite a myriad of bearish outlooks by both the federal government and international bodies. A string of weak economic data also could not affect the yen toward the end of the trading week as investors continued to pour into the traditional safe-haven asset amid global uncertainty due to the Wuhan coronavirus outbreak. Earlier this week, the January Eco Watchers Outlook survey plunged from … “Japanese Yen Strengthens on Safe-Haven Demand Despite Bearish Outlook”
Author: admin_mm
Pound Rallies to 1-Week Highs as PM Johnson Reshuffles His Cabinet
The Sterling pound today rallied to 1-week highs as the British Prime Minister Boris Johnson announced a major cabinet reshuffle that saw several ministers replaced. The GBP/USD currency pair started rallying hours before the official announcement as some ministers such as Sajid Javid resigned ahead of the reshuffle. The GBP/USD currency pair today rallied to … “Pound Rallies to 1-Week Highs as PM Johnson Reshuffles His Cabinet”
Scandinavian Capital Markets: Dan Blystone assumes the role of Chief Market Strategist
Dan Blystone has been named Chief Strategist at Scandinavian Capital Markets. Here are more details: STOCKHOLM, February 13, 2020. Dan began his career in the trading industry working as an arb clerk on the floor of the Chicago Mercantile Exchange (CME), flashing orders into the currency futures pits. From there he went upstairs and did … “Scandinavian Capital Markets: Dan Blystone assumes the role of Chief Market Strategist”
Euro Falls to Three-Year Low vs. Franc on Coronavirus Fears, Economic Data
The euro was weak today, falling for the sixth consecutive day to the lowest level in three years against the Swiss franc. Risk aversion caused by an unexpected surge of infected people in China was weighing on the shared 19-nation currency, while eurozone macroeconomic data was not helping as well. The coronavirus disease named COVID-19 continued to spread across China, and the sudden surge of the number of infected people concerned investors greatly. Chinaâs Hubei province, … “Euro Falls to Three-Year Low vs. Franc on Coronavirus Fears, Economic Data”
Kiwi Pulls Back After Surging on RBNZ Decision, Trims Losses Later
The New Zealand dollar retreated today after yesterday’s surge caused by the central bank’s monetary policy announcement. But by now, the currency has trimmed its losses and trades not that far from the opening level. The market sentiment put pressure on the currency as traders continued to be worried about the spreading Wuhan coronavirus. The Reserve Bank of New Zealand left its benchmark interest rate unchanged at 1% yesterday. While such … “Kiwi Pulls Back After Surging on RBNZ Decision, Trims Losses Later”
Bulls Failing to Conquer 73.93 on AUD/JPY
The Australian dollar versus the Japanese yen currency pair gives signs that the appreciation may be over. Is it so or the traders may be in for a surprise? Long-term perspective The ascending trend that started after the confirmation of the 71.09 level as support extended until the peak of 76.54 and ended after the confirmation as a resistance of the 76.02 level sent the price plumbing towards 73.93. The strong fall from the resistance of 76.02 pierced the 73.93 support … “Bulls Failing to Conquer 73.93 on AUD/JPY”
Pound Rallies Despite Brexit Headlines, Falls on Powellâs Testimony
The Sterling pound today rallied higher against the US dollar extending a 3-day winning streak by riding on yesterday’s momentum created by the positive UK GDP figures. The GBP/USD currency pair later fell during the American session as the Fed Chair Jerome Powell testified before the Senate housing committee where he reiterated his hawkish stance. The GBP/USD currency pair today traded in a 40-pip range marked by a low of 1.2951 and a high of 1.2991 … “Pound Rallies Despite Brexit Headlines, Falls on Powellâs Testimony”
Chinese Yuan Mixed As Economic Stimulus Capped by Fiscal Woes
The Chinese yuan is mixed midweek as traders are waiting to see how the federal government reacts to the economic fallout from the Wuhan coronavirus, which was recently named Covid-19 by the World Health Organization (WHO). The central bank has responded and Beijing has unleashed several stimulus measures, but disappointing 2019 fiscal numbers might limit what the federal government can do. This week, President Xi Jinping approved … “Chinese Yuan Mixed As Economic Stimulus Capped by Fiscal Woes”
Four carry trade currency pairs in 2020
Volatility in forex markets remains depressed amid ample liquidity. The carry trade provides opportunities for those with patience. CAD/CHF, USD/CHF, EUR/CAD, and even EUR/USD serve as potential positions. No trend, no trade? Not so fast, as markets with low volatility still provide opportunities. Volatility in foreign exchange markets has been falling, with EUR/USD – arguably the most popular … “Four carry trade currency pairs in 2020”
EUR/USD: Elevated N-Term Risks Of Further EUR Weakness – MUFG
EUR/USD is hovering around 1.09 and waiting for the next hammer to fall. Where next? Here is their view, courtesy of eFXdata: MUFG Research discusses EUR/USD outlook and adopts a tactical bearish bias in the near-term. “The data from the euro-zone today have certainly shifted out short-term view for the euro given the scale of weakness … “EUR/USD: Elevated N-Term Risks Of Further EUR Weakness – MUFG”