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Day: July 8, 2015
July 82015
Japanese Yen Leaps on Safe Haven Bid
The Japanese yen surged today, jumping more than 1 percent and reaching the highest level in seven weeks against the US dollar and the euro. The trading environment on the Forex market favors safer currencies, and so happens that the yen is one of such currencies. Concerns about developments in Europe and China are driving investors to seek safe haven assets in order to protect themselves against risk. The yen is traditionally a reasonable choice […]
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July 82015
Yuan Stable, Remains in Danger from Chinese Stock Market Crash
The Chinese yuan was relatively stable today, but market analysts are worried that the currency is vulnerable to the negative impact of the Chinese stock market collapse. More than a half of Chinese companies suspended trading of their shares on the Shanghai and Shenzhen exchanges. Yet all the efforts taken by traders and the Chinese government did not prevent the benchmark Shanghai Composite Index from plummeting 5.9 percent yesterday. As a result, the one-month implied […]
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July 82015
EUR/USD Bounces After Sell-Off
EUR/USD bounced after yesterday’s sell-off as Greece continues to negotiate with creditors in a last-ditch effort to secure its place in the eurozone. Counterintuitively, the crisis in Greece made the dollar underperform compared to the euro as market participants speculated that the problems in Europe may hurt the US economy recovery. Considering the cautious minutes released by the Federal Reserve today, this can encourage the Fed to postpone its planned interest rate hike. US crude oil […]
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