|Day's Range||128.032 - 128.706|
|52 Week Range||128.032 - 128.706|
Traditional haven currencies, such as Japan’s yen and, to a lesser extent, the Swiss franc, were on the rise on Wednesday as trade and geopolitical concerns came back into focus and the selloff in high-yielding emerging markets assets intensified. President Donald Trump on Tuesday said he wasn’t happy with how trade talks between the U.S. and China were progressing, and said the much anticipated U.S.-North Korea summit planned for next month in Singapore might not go ahead as planned, which sent ripples through global financial markets. The Swiss franc, which is also considered a haven currency though its moves tend to be more muted, rose 0.5% against the (EURCHF).
The British pound climbed against the dollar Thursday after a report the U.K. government plans to stay in the customs union beyond 2021, while the greenback slightly ease against major rivals but still hovered at highs for 2018. The ICE U.S. Dollar Index (IFUS:DX-Y.NYB) was down 0.2% at 93.191, holding around its highest levels of the year, but off Wednesday’s print of 93.391. A broader measure of the greenback, tracking 16 rival monetary units, the WSJ Dollar Index (CALCULATED:BUXX) slipped 0.2% to 86.73.
The Yen has continued to traverse its weaker trend versus the U.S Dollar and has broken resistance consistently in the short term.
The Ecofin meetings are a major event in the EU, with leaders from all member states attending each time that they are held. How could the meeting affect the euro?
The EUR/JPY has been following both the ascending trend line and the EMA perfectly and we might see the uptrend continuation. POC zone 131.50-60 could reject the pair on retracement. However if we don’t see any retracement pay attention to 131.75 rejection towards 132.00. Only above 132.00 we might see 132.40 that is D H5 – strong daily resistance. As long as the pair is kept above 131.25, bulls should be safe.
With a week-long descending trend-line aptly restricting the USDJPY’s latest recovery, the pair seems well inclined to re-test an upward slanting TL support, at 105.75 now, breaking which it can decline to 105.25 and then to the 105.00 round-figure. Though, 104.60 could restrict the quote’s additional downside, failing to which can highlight 61.8% FE level of 104.10. On the upside, aforementioned trend-line number of 106.70 may keep disappointing the short-term buyers, which if broken could escalate the pair’s moves towards 107.20 and 107.65 while 107. ...
The Euro has been losing value in forex for nearly a week. While the European currency is testing important support and looks vulnerable.
The U.S. dollar extended its advance against rivals on Wednesday, adding on from its first positive day in three sessions on Tuesday. Meanwhile, analysts focused on the Japanese yen, which dropped to a ...
The risk barometer that is the Japanese yen has plummeted on Wednesday, with the dollar surging to a one-month high against Japan’s currency, marking its largest one-day gain since January last year.
Investing.com - The dollar was trading at five-week lows against a currency basket on Tuesday as hopes that a possible trade war between the U.S. and China could be averted revived risk appetite.
The Yen has effectively gotten stronger in the mid-term. Risk adverse trading in Asia has helped the Yen break through important support.
The Euro has gained on the heels of the interest rate hike via the U.S Federal Reserve. The Euro/ USD forex pair has provided a consistent range since January.
Investing.com - The euro slid to the day’s lows on Tuesday after data showing that German economic sentiment deteriorated sharply in March amid concerns over the prospect of a U.S. - led trade conflict.
The Euro has continued to face headwinds versus the U.S Dollar short term. While range trading may prevail today, this will vanish as the U.S Fed’s monetary policy decision draws closer on Wednesday.
Investing.com - The euro was broadly lower on Wednesday as comments by senior European Central Bank officials tempered expectations for a speedy exit from its €2.55 trillion bond purchasing stimulus program.
Investing.com - The dollar edged lower against a currency basket on Friday after the latest U.S. employment report showed that while jobs growth recorded big gains wage growth remained sluggish, undermining the case for a faster pace of rate hikes this year.
Investing.com - The euro reversed gains on Thursday after European Central Bank President Mario Draghi downplayed a decision to drop a pledge to expand its quantitative easing program from its rate statement.