Day: January 26, 2016

January 26
2016

EUR/USD Flat as Traders Wait for Fed

EUR/USD trades flat currently after attempting to rally and to decline but failing to find direction. US economic data was of little help in determining trend as it was mixed. Now, traders wait for tomorrow’s monetary policy announcement from the Federal Reserve. While most market participants do not expect the Fed to change its monetary policy the next month after it hike interest rates, many are worried […]

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January 26
2016

Yuan Stable Despite Another Crash of Chinese Stocks

For some time now, Chinese authorities were trying to stabilize the yuan that has been under heavy selling recently. By the looks of it, they had some success as the currency was relatively stable today despite yet another crash of the nation’s stock market. The People’s Bank of China increased the reference rate for the yuan versus the dollar to 6.5548 today from Monday’s 6.5557. This allowed the currency to be relatively stable today […]

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January 26
2016

Rally of Crude Oil Pushes Japanese Yen Back

The Japanese yen reversed its earlier rally during the currency trading session, falling below the opening level against such most-traded currencies like the US dollar and the Great Britain pound. The reason for the drop was the rally of crude oil prices. Yesterday, the decline of crude oil prices was helping the yen by igniting the risk-negative sentiment among traders. Yet today crude bounced, making the safe haven role of the Japanese currency less […]

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