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Day: May 29, 2018
May 292018
EUR/USD Trades at 10-Month Lows on Italian Political Crisis
The EUR/USD currency pair today dropped to new 10-month lows following political turmoil in Italy where a new election is likely to happen as early as July. Investors dumped the euro as Italian bond yields rose to new highs, which increased the yield spread between the German and Italian 2-year bonds. The EUR/USD currency pair today dropped from a high of 1.1639 to a fresh 2018 low of 1.1510 and was on a downtrend at the time of writing. The political […]
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May 292018
Swiss Franc Firm on Risk Aversion & Economic Data
The Swiss franc was rather firm today. Risk aversion and decent domestic macroeconomic data helped the currency to carve out gains versus its major rivals. According to the report from the Federal Statistics Office, Switzerland’s trade balance widened to CHF 2.80 billion in April from the revised CHF 2.25 billion in March. The actual reading was far better than the forecast value of CHF 2.23 billion. As for the future reports, the KOF […]
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May 292018
Japanese Yen Remains Strong As European Political Turmoil Persists
The Japanese yen was among the strongest currencies today as the ongoing political crisis in Europe continued to bolster the currency. Domestic macroeconomic data was decent enough to provide further support to the yen. Japan’s Statistics Bureau reported that the unemployment rate stayed at 2.5% in April, unchanged from March. Experts were expecting such reading. Now, traders wait for tomorrow’s release of retail sales and consumer confidence. USD/JPY fell from 109.40 […]
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May 292018
Ether (ETH) and Litecoin (LTC) Prices Test Key Support Levels
Ether and Litecoin – News and Talking Points – Litecoin bounces off support but how long will this hold? – Ether nears support – set-up remains weak. To see how retail traders are currently positioned in cryptocurrencies and what it means for the market looking forward, download the IG Client Sentimentpage. Litecoin (LTC) and Ether […]
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May 292018
JPY Surges on Safe Haven Demand as Italy Sparks Widespread Panic
JPY Analysis and News JPY Supported by Safe Haven Flow EURJPY Falls to Lowest Level Since June 2017 For a more in-depth analysis on the Japanese Yen, check out the Q2 Forecast for JPY Italian Fears Spark JPY Demand vs EUR As mentioned previously (click here) rising political tensions would see the Japanese Yen among […]
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May 292018
Gold Price Struggles as Technical Resistance Holds
Gold Price News and Analysis – Gold unable to breach the 200-day moving average. – A new 2018 low may be made in the short-term. The new DailyFX Q2 Gold Forecast is now available to help traders navigate the market. The latest IG Retail Sentiment Indicatorshows that traders are nearly 79% net-long of the precious […]
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May 292018
US AM Digest: JPY and CHF Rise on Italian Political Woes
Receive the DailyFX US AM Digest in your inbox every day before US equity markets open – signup here US Market Snapshot via IG: DJIA -0.8%, Nasdaq 100 -0.9%, S&P 500 -0.7% Major Headlines Italian Political woes saw German-Italian 10yr bond spreads widen to 300bps Italy’s Cottareli will present list of ministers later today JPY, […]
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May 292018
USD Muted After Consumer Confidence Figures, Eyes on NFP
US Consumer Confidence Hovers at Historic Highs USD sees Muted Reaction from Data Release, Eyes on US NFP. For a more in-depth analysis on the USD, check out the Q2 Forecast for USD US Consumer Confidence Remains at Historically High Levels The US Consumer Confidence Index printed in line with expectations at 128 for May, […]
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May 292018
EUR/USD Falls to New Lows amid Europe’s Political Turmoil
EUR/USD fell today, extending yesterday’s decline and touching new lows for the year, amid ongoing political crisis in Europe. The decent macroeconomic reports released in the United States over the current trading session added to the downward momentum of the currency pair. S&P/Case-Shiller home price index rose 6.8% in March, year-on-year, the same as in February. Analysts had expected a slowdown to 6.5%. Month-over-month, the index was up as much as 1%. (Event A on the chart.) Consumer confidence […]
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May 292018
EURUSD Slumps as Italy Poses a Real EUR Risk
EURUSD News and Talking Points – Italian bond yields at multi-year highs as investors shun Italian risk. – Upcoming election seen as a referendum on the EUR and Italian democracy. The DailyFX Q2 Trading Forecasts for all major currencies, commodities and indices, are now availableto download to help you make more informed trading decisions. EURUSD […]
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