The Japanese yen is strengthening against different currency competitors midweek, buoyed by a plethora of economic data and outlooks that came in much better than initially anticipated. With the federal government set to unveil a comprehensive stimulus package to rescue the world’s third-largest economy from the fallout of the coronavirus pandemic, the yen’s safe-haven appeal may stay intact.
The Japanese yen is gaining against its biggest currency competitors to kick off the trading week as the nation braces for details surrounding the government’s “boldest-ever” stimulus package. Japan’s economic situation had been bearish prior to the coronavirus pandemic, but the outbreak has negatively affected the world’s third-largest economy. With the Tokyo Olympic Games postponed until the end of July, it is unclear how Japan can avoid slipping into […]
The US dollar is rallying against many major currencies midweek as investors continue to pour into the traditional safe-haven asset. Despite mixed economic data, the greenback is trading at its best level in three years throughout the Covid-19 pandemic that has crippled the global economy and paralyzed global financial markets.
The Japanese yen is trading mixed on foreign exchange markets on Tuesday as recent economic data pointed to tepid conditions, diminishing overall business confidence. With the coronavirus crippling the world’s third-largest economy, policymakers are discussing a lot of ways to spur growth, including targeting the national sales tax.
The Chinese yuan is slumping against multiple currencies to kick off the trading week, driven by a crash in key economic metrics. With a myriad of January-to-February reports coming in, global financial markets are gaining insight into just how much the coronavirus damaged the world’s second-largest economy. Despite Beijing in the beginning stages of rebooting its economy, it is unclear how long it will take for China to return to full […]
The Great Britain pound was extremely volatile today. The main reason for the currency’s sharp moves was an emergency interest rate cut from the Bank of England. The sterling sank immediately after the announcement, recovered quickly afterward but backed off a bit after a release of a bunch of disappointing macroeconomic reports, including GDP print.
The euro today traded in a wide range against the US dollar with a slightly bullish bias as markets reeled from the spreading coronavirus outbreak and the crash in oil prices. The EUR/USD currency pair today traded with a bullish bias as bears fought for control amid a major sell-off in global equity markets.
The Chinese yuan is sliding against most major currencies to kick off the trading week as the latest economic data highlighted just how damaging the fallout of the coronavirus has been to Beijing. It may be some time until China fully recovers from Covid-19, especially with hundreds of new cases being reported. Plus, the outbreak appears to have spread worldwide, causing consternation about global supply chains and the near-term […]
The Mexican peso is trading relatively flat against several major currency competitors on Tuesday. With the latest economic data coming in mixed, the public and investors may be becoming increasingly impatient with President Andres Manuel Lopez Obrador’s policies. A cyber attack on the nation’s economy ministry did not help spur confidence in AMLO’s government either.
The Japanese yen is rebounding on Tuesday after the safe-haven currency struggled to hold ground to kick off the trading week due to a disappointing gross domestic product reading. The yen’s jump, despite heightened recession fears, is being driven by decent industrial production in December. All eyes will now be on January trade data and machinery orders in December.
