The Japanese yen was trading flat for the most part today, though fell versus commodity currencies. It looks like traders were not interested in safety provided by the Japanese currency despite increasing tensions between China and the United States over Hong Kong protests. There were plenty of macroeconomic reports released in Japan today but they failed to have a substantial impact on the currency during thin holiday trading.
The Japanese yen was soft today as mild risk appetite on the Forex market limited demand for the currency in its role of a safe haven. But the yen has trimmed losses by now, even managing to gain on some of its rivals. Domestic macroeconomic data was mixed, but no outright negative indicators were released today.
The Japanese yen was generally strong today amid persisting concerns about the US-China trade negotiations. Macroeconomic data released in Japan over Friday’s session was in line with expectations.
The euro today traded sideways against the US dollar in a low-volatility market environment as traders waited for Jerome Powell‘s statement and testimony later in the day. The EUR/USD currency pair had a muted reaction to the release of inflation data from both Germany and the USA as the technical conditions surrounding the pair remained neutral.
The euro today fell against the US dollar despite the release of mostly upbeat data from across the euro area in a move that could be attributed to profit-taking following yesterday’s bullish run. The EUR/USD currency pair today rallied to its daily highs in the early European session after the release of upbeat Q3 GDP data from Spain before heading lower later.
The Japanese yen was little changed following a report that showed that economic activity in Japan slowed this month. The services sector barely expanded as its rate of growth slowed sharply compared with September, while the manufacturing sector accelerated the rate of its decline unexpectedly.
The euro today rallied to new monthly highs buoyed by positive CPI data from the euro area combined with a weak US dollar. The EUR/USD currency pair today rallied to new highs based on positive geopolitical events related to Brexit and the US-China trade war.
The Great Britain pound was extremely volatile today, sinking intraday but bouncing later. Currently, the sterling is trading above the opening level. The main reason for the currency’s volatile moves was uncertainty over the Brexit, though today’s mostly underwhelming macroeconomic data also had its negative impact on the pound.
The New Zealand dollar declined today despite inflation data that came out better than was expected. There were several possible reasons for the currency’s decline, both domestic and global. Domestically, the monetary policy outlook remained dovish despite the better-than-expected inflation report. Globally, increasing geopolitical tensions between the United States and China over Hong Kong and the global economic slowdown lessened the appeal of riskier commodity-related currencies. Currencies […]
The Swedish krona rallied against its major rivals today. That included the Great Britain pound, but the sterling has managed to rebound by now thanks to the positive Brexit headlines. The main reason for the krona’s rally was better-than-expected inflation data.
