|Day's Range||0.993 - 0.993|
|52 Week Range||0.9542 - 1.0229|
Investing.com - The safe haven yen and Swiss franc look likely to strengthen when markets open this week amid heightened geopolitical tensions in the Middle East after weekend attacks on Saudi oil plants disrupted global oil supplies.
Investing.com - Oil prices will react when markets open after an attack on a key Saudi production facility, amid uncertainty over how much global supply will be disrupted. Investors are also bracing for another interest rate cut from the Federal Reserve this week, as well as a flurry of rate decisions from other world central banks.
Moody's Investors Service ("Moody's") today assigned an A2 rating to Banco de Crédito e Inversiones's (Bci) CHF100 million fixed-rate senior unsecured notes maturing on 24 September 2029. The rating has a stable outlook.
The yen held at a five-week low versus the greenback on Tuesday as firming government bond yields encouraged investors to trim their bearish bets on the global economy. Commodity-focused currencies such as the Australian dollar and the New Zealand dollar also firmed amid the relief rally in global markets with investors waiting for more policy easing from the European Central Bank at a review this week. "What we are seeing now is a reversal of some of those investment flows in the summer," said Lee Hardman, a currency strategist at MUFG in London.
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The Australian dollar hit the day's highs and the safe-haven Swiss franc dived against the euro after China cut reserve requirements for its banks. Appetite for risky assets, already firm in early London trading thanks to strong data out of the United States, received a further boost after China unveiled its latest round of policy easing to support a struggling economy. The Australian dollar - its fortunes closely intertwined with the Chinese economy - gained 0.3% to $0.6837 and strengthened 0.7% versus the Swiss franc.
Investing.com -- The dollar was higher against haven currencies and lower against higher-yielders early Friday in Europe, holding gains made Thursday in broad rally in risk assets after signs of robust job creation in the U.S. last month.
Despite an adverse July Trade Balance data release, the Aussie pair bulls continued upliftment for the third day in a row. Meantime, Fiber kept the downtrend intact today.
Today’s USD breather has brought relief to many other currencies earlier under pressure. The euro is recovering, and the bulls’ resolution looks to be put to test shortly as the nearest resistance is at hand.
The AUD/USD pair has breached the upper boundary of the Bollinger Bands, showcasing a demand upsurge on the buyer side. Greenback bears ate the previously accumulated gains today amid downbeat economic data.
Swiss National Bank Chairman Thomas Jordan declined to comment on Tuesday on the value of the franc, which has risen to its highest level in two years against the euro, or measures the SNB was taking to curb its strength. The trend has sparked speculation the SNB could relax further its ultra-loose monetary policy by taking interest rates more negative from -0.75% now or step up currency interventions. The central bank is due to give its next monetary policy update on Sept. 19.
Swiss National Bank Chairman Thomas Jordan declined to comment on Tuesday on the value of the franc, which has recently risen to its highest level in two years against the euro, or measures the SNB was taking to reduce its value. Switzerland's central bank unveiled its new 100 franc note on Tuesday - the last of its overhaul of the country's notes which have increased in value following the safe-haven currency's recent surge in value.
Today, the Aussie pair slipped out of the choppy bracket and was heading south. Meantime, the USD/CHF pair was testing the overhead Ichimoku Clouds.
The Fiber was underway to close negative for the third consecutive day this week in order to justify the 2-month-old downtrend channel. Meantime, the Aussie pair continued to remain choppy throughout the day.
The Swiss National Bank has to keep monetary policy loose to counter demand for the safe-haven Swiss franc at a time of heightened global uncertainty, SNB governing board member Andrea Maechler said on Wednesday. Record levels of sight deposits at the Swiss National Bank suggest the central bank has been stepping up intervention on foreign exchange markets to rein in the franc, which has touched two-year highs against the euro. Asked if the SNB's balance sheet could ever get too big, she said the central bank always weighed the pros and cons of intervening.
Based on the early price action and the current price at 97.815, the direction of the September U.S. Dollar Index on Tuesday is likely to be determined by trader reaction to the pivot at .97.915.
Investing.com - The U.S. dollar was broadly higher on Monday, as optimism over the U.S.-China trade conflicts supported risk sentiment, despite further signs of a slowdown in the U.S. manufacturing sector.
Based on Friday’s price action and the close at 97.530, the direction of the September U.S. Dollar Index on Monday is likely to be determined by trader reaction to the support cluster at 97.545 to 97.510.
The Canadian Dollar rose 0.15% against the U.S. Dollar. Gains were limited by a steep drop in crude oil prices. The Euro posted a 0.46% gain against the dollar, but due to its heavy weighting, it had the biggest influence on the index’s decline.
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Today, ECB Meeting minutes read that the outlook for the economy remains weaker and further stimulus would come as early as in September. Greenback had maintained a choppy performance today, remaining within 98.14/98.38 range levels.
It’s often like this prior to market-moving events. Prices keep trading in a narrow consolidation, dropping subtle clues here and there. The context remains though, and coupled with the preceding price action, it allows to us to see the market tipping its hand. So, how have we prepared for what’s to come?
* All eyes on Jackson Hole meeting, Fed's Powell's speech * G7 meeting also awaited for finance officials' comments * Fed minutes show officials view July cut as mid-cycle adjustment * Euro little moved by Italian PM's resignation * Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh
The upward-facing USD/CHF pair was aiming to breach above the overhead red Ichimoku Clouds. After displaying three consecutive positive sessions in a row, the Japanese Yen pair was attempting to breach above the 106.742 resistance.