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Day: January 5, 2016
January 52016
Yen Continues to Surge on Safe Haven Demand
Yen is higher against other major currencies today as safe haven demand continues to drive Forex traders. With the uncertainty right now, yen is preferred for its stability and safety. Disappointing Chinese factory data released yesterday sparked a global stock selloff. At one point the situation was bad enough in the Chinese markets that a new shutdown mechanism was triggered, suspending trading. On the first trading day of the New […]
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January 52016
US Dollar Index Rises as Risk Aversion Continues
US dollar index is higher today, thanks in large part to continued risk aversion. The latest chain of events in China and the Middle East are making investors and traders skittish, and they are turning to safe haven currencies. The US dollar is still considered the most stable currency in the world, and Forex traders are turning to it today as stock markets around the world continue to drop. Dollar index is higher today, […]
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January 52016
Pound Ignores Supportive Construction Data
The Great Britain pound fell today, extending its decline versus the US dollar for the sixth consecutive trading session. The construction report released from the United Kingdom today was solid, but the currency shrugged off the supportive data. At the same time, the sterling managed to outperform the extremely soft euro. The Markit/CIPS UK Construction Purchasing Managersâ Index bounced to 57.8 in December up from the seven-month low of 55.3 in November. The actual reading […]
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January 52016
Euro Extends Move Down for Third Day
The euro extended its move down against the US dollar and the Japanese yen for the third straight session today as the eurozone inflation came out below analysts’ expectations. The flash eurozone inflation was stable at 0.2 percent in December, the same rate as in November. Yet the reading missed the median forecast of 0.4 percent. The report followed yesterday’s data that showed that Germany has entered deflation (at least on the monthly basis). EUR/USD declined […]
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January 52016
Australian Dollar Logs Small Gains
The Australian dollar bounced today following yesterday’s rout due to bad news from China. The gains were limited, though, and far from being enough to erase the Monday’s decline. China injected a generous share of liquidity into markets, namely 130 billion yuan ($20 billion). The Australian currency often reacts strongly to news from China as the Asian nation is the biggest trading partner of Australia. As the Tuesday’s news was good, […]
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January 52016
Dollar Starts Week with Gains amid Pessimistic Sentiment
The US dollar started the week with gains as the risk-negative market sentiment drove market participants to safer currencies. The same pessimistic mood boosted the Japanese yen as well, allowing it to gain even more than the US currency. The major theme of the day was the disappointing manufacturing data out of China. Another one was the growing tension between Iran and Saudi Arabia that threatens to spread to the whole Middle Eastern region. As a result, […]
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