Market Sentiment — News Archive

The Japanese yen was firm today as the market sentiment turned cautious. Some of domestic macroeconomic releases were also helpful to the currency.

The Australian dollar rose today after the release of monetary policy meeting minutes that suggested the Reserve Bank of Australia is not planning to cut interest rates once again next month. The currency has trimmed its gains by now, losing them against the Japanese yen completely.

The Australian dollar gained against its most-traded rivals today after the central bank’s chief questioned the efficiency of further monetary policy easing. The currency also got support from the stabilizing market sentiment.

The Swiss franc traded mixed today, rising against some rivals and falling versus others. While initially the currency was weaker due to risk appetite caused by the positive manufacturing report for China, the Swissie rebounded against many peers later. Mixed domestic macroeconomic data was not helping the currency in finding direction.

The euro today rallied higher against the US dollar driven by investor hopes of a breakthrough in the ongoing Sino-US trade talks and a risk-on market sentiment. The EUR/USD currency pair’s performance today was largely driven by market sentiment given that US markets were closed in celebration of Presidents’ Day holiday.

The Canadian dollar fell against its most-traded peers today after the release of negative macroeconomic data and as the market sentiment soured on worsening global growth projections.

The Australian dollar today declined against its US counterpart as markets digested the impact of weak Chinese industrial profits data on commodity-linked currencies such as the Aussie. The Aussie’s decline was further compounded by the re-emergence of Sino-US trade war fears based on recent news regarding potential orders by the US government against Chinese companies.

The euro today rallied higher against the US dollar from the early European session largely driven by positive market sentiment as investors refrained from buying the greenback. The EUR/USD currency pair extended its rally despite the release of disappointing German IFO business climate index as markets remained dovish towards the US dollar ahead of tomorrow’s Fed interest rate decision.

The Australian dollar was the strongest currency today. It was fighting with the Great Britain pound for the first place, and currently the Aussie is on top.

The Japanese yen started the Wednesday’s session in the red across the board. The positive market sentiment was the likely reason for the losses of the safe-haven currency, though negative macroeconomic data might have played its part as well.