Risk currencies stabilise

5 January, 2016

It was an uncomfortable start to the New Year in many respects, but it’s not possible to pin it down to one particular thing, rather it was a confluence of factors that came to set a risk averse tone across many markets. This was most evident in stocks and especially in Asian, given the gyrations seen in China and the contagion elsewhere. The S&P500 managed to rally into the close, which allowed for a steadier start for Asian stocks, but it was hardly plain sailing. If we look more specifically at currencies, then there was some unwind of the risk aversion moves that were being seen yesterday, with USDJPY moving up from the 118.70 low made during yesterday’s session. The Aussie also managed a modest recovery to the 0.72 level, whilst EURUSD has retained the softer tone gained in the latter half of yesterday’s European session, currently holding just above the 1.08 level.

For today, the main focus on the data calendar will be the release of the latest CPI data for the Eurozone, which is expected to nudge up to 0.3% YoY on the headline rate, with the core rate seen rising to 1.0% (from 0.9%). Headline rates are expected to move higher over the coming few months as the effect of the sharp decline in energy prices 12 months ago falls out of the calculation. Despite the rising tensions between Saudi Arabia and Iran, oil prices ended yesterday’s session lower, but the story is worth keeping an eye on. Naturally, the US employment report on Friday retains the attention of markets this week.


Source link  
Oil Inventories to Show a Draw

Expectations (Apr) are expected to be released with a prior reading of 16.7. This data has been weakening since a reading of 52.0 was recorded in...

Chances of RBA Rate Hike

NZDUSD bucked the trend overnight, as most other currencies managed to retrace some of their declines against the USD. The pair hit fresh...

Consumer Sentiment Index Close to Higher

US Fed Boston President Rosengren is due to deliver the keynote speech on the economic outlook, at the Greater Boston Chamber’s Economic Outlook Breakfast...


Chinese president soothes worries

With US Producer Prices data on the way this afternoon, and predicted to be largely as expected, the morning session will be dominated by central bankers...

Markets fall after more tariffs proposal

Friday's session is expected to be volatile, with Non-Farm Payrolls (13:30 UK Time) ahead and President Trump’s proposal for an additional $100B...

Korea gets exemption on steel tariffs

The US and South Korea have reached agreement on a Trade deal that comes with the added bonus for South Korea of a permanent exemption from...


EU Publishes List of Tariffs on US Goods

Over the weekend, the EU published a list of tariffs on US products in response to the US tariffs on Steel and Aluminium. The total value of EU tariffs...

Consumer Price Index and Housing Starts

Eurozone Consumer Price Index – Core (YoY) (Feb) will be released. The consensus points to an unchanged value of 1%. Consumer Price Index...

USD Weakens as Risk-Off Returns

Yesterday, the US announced Tariffs on Steel and Aluminium, which prompted an outcry from various global leaders and an acceleration in the...


In the past 24 hours Bitcoin has lost -8.44% and reached $8825.81. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -1.2229% and is now at $1.2229. Start trading and making money on Forex today.

In the past 7 days Ethereum has gained 16.93% and is now at $616.282. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Daily Forex Market Reviews


Forex Currencies Forecasts


Top 10 Forex Brokers 2018

# Broker Review
1easyMarketseasyMarkets90%
2FXTMFXTM87%
3HYCMHYCM85%
4FxProFxPro84%
5FIBO GroupFIBO Group82%
6FXCMFXCM70%
7XMXM68%
8Fort Financial ServicesFort Financial Services67%
9Alfa-ForexAlfa-Forex66%
10HotForexHotForex66%
  


Share: