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Day: April 25, 2019
April 252019
Swiss Franc Rebounds on Improved Economic Sentiment, Global Cues
The Swiss franc is rebounding on Thursday after being the worst performing major currency in April. Posting huge losses against some of its most publicly traded rivals, the franc is taking a breather and recording modest gains towards the end of the trading week. With very little domestic economic data, the franc is taking its direction on global cues. The Switzerland Economic Sentiment Index, a gauge of investor outlook, came in at -7.7 […]
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April 252019
Euro Near 22-Month Lows as the Eurozone Economy Slows Down
The euro today traded near 22-month lows against the US dollar as investors remained worried about the state of most euro area economies. The lack of releases from the eurozone docket also contributed to the EUR/USD currency pair’s decline amid mixed releases from the US docket. The EUR/USD currency pair today fell from a session high of 1.1162 to a low of 1.1117, which is a level last touched in May/June 2017 before recouping […]
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April 252019
Pound Falls Against US Dollar on Brexit Uncertainty, Later Recovers
The British pound today fell against the US dollar driven by uncertainty regarding Theresa May‘s leadership amid rumors that she could face a leadership challenge. The GBP/USD currency pair later recovered after it emerged that the Prime Minister was safe from an internal leadership contest, which reassured investors. The GBP/USD currency pair today fell from a session high of 1.2918 to a low of 1.2864 in the mid-London session before […]
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April 252019
EUR/USD Bounces After Dropping to Almost 2-Year Low
EUR/USD continued to fall today, reaching the lowest level in almost two years, though by now the currency pair has bounced from the day’s lows. Traders preferred the dollar to the euro due to the divergence between monetary policy and economic health of the United States and the eurozone. Durable goods orders climbed 2.7% in March, far exceeding the increase by 0.7% predicted by analysts. The previous month’s decline got a positive revision from 1.6% to 1.1%. (Event […]
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April 252019
Swedish Krona Tumbles After Central Bank Delays Rate Hike
The Swedish krona tanked against other currencies today after Sweden’s central bank signaled that the planned interest rate hike will happen later than it was previously expected. The Riksbank left its main interest rate unchanged at -0.25%. The bank signaled that it is delaying the hike: The Executive Board has decided to hold the repo rate unchanged at â0.25 per cent and assesses that the rate will […]
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April 252019
Japanese Yen Strongest on FX Market Despite BoJ Statement
The Japanese yen was the strongest major currency today despite pledge of Japan’s central bank to keep monetary policy extra loose for at least a year. As was widely expected, the Bank of Japan kept its monetary policy unchanged at today’s meeting. The bank said in the statement: The Bank intends to maintain the current extremely low levels of short- and long-term interest rates for an extended period of time, at least through around spring 2020, taking […]
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