The Japanese yen weakened against its US peer to kick off the trading week, despite positive economic readings to start 2021. The yen, which has failed to strengthen this year, could not find support on the Bank of Japan (BoJ) attempting to reassure financial markets. Is more weakness on the way, despite the recovery pushing ahead in the world’s third-largest economy? Perhaps the answer might depend on the central bank’s stock price.
The Australian dollar rose today even though macroeconomic data showed that the consumer sentiment was deteriorating. In fact, the Aussie was the strongest currency on the Forex market intraday but the Canadian dollar outperformed its Australian counterpart by the time of writing.
The Australian dollar held its ground today despite waning optimism about the coronavirus vaccine. Domestic macroeconomic data released in Australia on Wednesday was not great but not terrible either.
The Japanese yen is under pressure in the middle of the trading week as the central bank warned that economic uncertainty remains “very high” because of the coronavirus pandemic. But the yen could find support on macroeconomic data suggesting the contraction in the world’s third-largest economy might have subsided. Could the traditional safe-haven asset continue its strong 2020 in the final quarter?
The Japanese yen is strengthening against its currency rivals to finish the trading week. The yen has found support on Prime Minister Shinzo Abe stepping down and renewed economic activity in the world’s third-largest economy. The yen has been performing well in 2020 as investors continue to seek traditional safe-haven assets in the fallout of COVID-19.
The Japanese yen is trading relatively flat against many of its major currency counterparts on Tuesday. The yen has been struggling to find direction so far this week as household spending data disappointed and investors try to weigh the central bank’s decision to embark upon a policy of yield-curve control. Although Japan was able to flatten the coronavirus curve, it has reported a renewed uptick in confirmed cases. Will the world’s third-largest […]
The Australian dollar rallied today, though currently, it has trimmed its gains. While the rally happened after a surprisingly positive retail sales report came out, the currency did not rally immediately following the release, therefore it cannot be said with certainty that the report directly contributed to the strength of the Aussie. Whatever the case may be, the Australian currency will have a hard time maintaining gains as the market […]
The Australian dollar was mixed today as market participants were digesting news about the coronavirus that has started in China. The Aussie was flat against a range of major currencies, jumped versus the Canadian dollar, and dropped against the Great Britain pound. Macroeconomic reports released in Australia today were poor.
The Japanese yen is weakening against most of its currency rivals on Thursday as consumer confidence tumbled in December and recent investment numbers turned heads in Tokyo. The yen had rallied in the wake of the escalation in the US-Iran conflict, but with Middle East tensions abating investors resuscitated their risk appetites.
The Japanese yen is trading relatively flat against some of the most-traded currencies in the market as a string of disappointing data has elevated recession talk. After some reprieve from bearish data, it looks like the world’s third-largest economy is still unable to rejuvenate growth, despite the government’s planned $120 billion stimulus. The question that is now dominating global financial markets is: What’s next?
