CPI — News Archive

The Japanese yen was trading either flat or higher against its most-traded rivals today as the coronavirus pandemic continued to spread across the world, causing panic and expectations of a global economic recession.

The euro today traded with a negative bias against the US dollar extending its losing streak for the fourth straight session as the risk-off sentiment dominated markets. The EUR/USD currency pair’s performance was also negatively affected by the rising coronavirus cases globally, which has seen investors buy the safe-haven greenback.

The euro today rallied against the US dollar earlier in the session before falling later during the American session as the global equities sell-off deepened. The EUR/USD currency pair headed lower as European stock markets closed in the red and American markets opened lower later in the day.

The euro today to new highs as the dollar crumbled in the face of mounting coronavirus fears amid and falling US Treasury yields dampened demand for the greenback. The EUR/USD currency pair today rallied above the crucial 1.10 level as investors flocked to the single currency boosted by positive euro area fundamental releases.

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 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 Australian dollar rose today after China’s consumer inflation accelerated more than was expected by markets. The market sentiment was still cautious as the Wuhan coronavirus continued to spread across China.

The Japanese yen halted its rally, trading flat today. For now, it does not seem that the market sentiment shifted much, and the pause in the rally was likely just a result of profit-taking following substantial gains of the currency. Domestic macroeconomic data was mixed, giving no clear picture of the Japanese economy.

The euro today inched higher against the US dollar as it struggled to shake off the selling pressure that has kept the EUR/USD currency pair trading in a tight range. The single currency posted gains in the American session despite the release of mixed German inflation data accompanied by in-line preliminary US Q4 GDP figures.

The Japanese yen fell against a range of currencies today, even including some commodity-related ones. The possible reason for the retreat was profit-taking after the previous big gains. The market sentiment remained fragile as the coronavirus continues to spread, and investors are concerned about its impact on the global economy.