The Japanese yen is mixed midweek as new data is sending signals that the nation’s manufacturing sector is weakening. With uncertainty engulfing the global economy and Japan potentially facing a recession, the Bank of Japan (BOJ) is being pushed to be more accommodative by easing monetary policy. Prime Minister Shinzo Abe assured financial markets that Japan will not be a drag on the rest of the world, suggesting that he […]
Read moreThe euro today fell drastically against the US dollar after having traded sideways for the past two sessions as investors anticipate a rate cut at tomorrow’s ECB meeting. The EUR/USD currency pair fell for the better part of today’s session even as the empty European docket meant that there were no fundamental releases to boost the single currency. The EUR/USD currency pair today fell from an opening high of 1.1055 to a low of 1.0986 in the early […]
Read moreThe US dollar versus the Japanese yen currency pair is still continuing the appreciation that began at the 105.00 psychological level. The question is: considering the determined way in which it advances, will the price simply pierce the strong resistance area at 108.00? Long-term perspective After falsely piercing the psychological level of 105.00 (and also the technical and important weekly support of 105.52) and printing a low at 104.44, the bulls took control and drove the price above […]
Read moreEUR/USD declined on Wednesday. Market analysts speculated that the decline was a result of anticipation of monetary stimulus from the European Central Bank, which it is expected to announce on Thursday. US macroeconomic data released over the trading session was decent enough to give the dollar additional boost against the euro. PPI rose by 0.1% in August. That is compared with a consensus forecast of no change and an increase of 0.2% registered in the previous […]
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