Currencies in tight ranges as US debt talks dampen sentiment

14 October, 2013

Currency markets saw little movement during European session trading on Monday, with major currency pairs basically keeping within ranges formed in the prior Asian session.

The US debt debate remains the dominant theme and is the main driver of markets today in the absence of other key economic data releases or headlines. 

Lack of progress in negotiations in Washington over the weekend to avert a debt default is making investors cautious and is keeping the US dollar under pressure. The safe haven currencies like the yen and Swiss Franc are benefitting, while commodities, like oil are also under pressure.

The US debt talks overshadowed the only data release today during the European session, which was industrial production data. There was little reaction to the report that showed Euro zone factory output in August grew at its strongest pace in two years.

The US dollar is down 0.3 percent against the yen, trading the European session in a very tight range around the 98.25 yen level after opening in Asia today with a 30 pip gap lower.

The dollar also slipped against the other safe haven, which is the  Swiss Franc, down 0.1 percent to 0.9114 Francs. 

The euro was lifted after the Euro zone industrial production data and also due to the weaker dollar, traded slightly higher by 0.1 percent to $1.3560.

Source link  
Aussie declines despite shrinking Australian trade deficit

The Asian session was calm as the economic calendar was light and most investors were positioning ahead of key risk events later this week, primarily the US nonfarm payrolls report on Friday...

USD/JPY slips as Nikkei falls in risk-off market after disappointing China PMI data

The first full trading week of 2014 began today, with Japan opening for the first time after a two-week holiday...

Technical Analysis On Major Currencies By FXNET

The pair extended the positive trading, whereas it approached 61.8% correction at 1.3625

Euro Hits Fresh 1-Month High After German Inflation Data

The dollar rose above 102.00 yen for the first time since May 29, while the euro flirted with the key $1.36 handle and hit a new four-year high within striking distance of 139.00 yen...

Aussie Powers Through & Dollar Hits New 6-Month High Against Yen

The best performing currency during Thursday’s Asian session was the Australian dollar which jumped against its US counterpart after strong Australian business spending data. Private Capital Expenditure increased by 3.6% quarter-on-quarter despite expectations for a decline by 1.1%...

Sterling and Euro Outperform Vs US Dollar

The main currency of the day was the sterling which outperformed against the dollar and euro, as well as against the yen after being boosted by strong UK second quarter growth data...

Euro Steady Around $1.35

The euro was stronger today particularly against the dollar and the pound. While there were no economic data releases today from the Eurozone to explain the move, there were some headline news which affected sterling and dollar...

Yen Up Against Dollar After Weak US Data

The yen was supported by safe haven demand today after the release of a slightly dovish Bank of Japan policy meeting minutes. The minute from last weeks meeting showed some concern about Japans economic outlook and whether the central bank 2% inflation target could be met...

EUR/JPY Hits A New 4-Year High

The dollar remains bullish against the yen, while the euro hit a new four-year high against the Japanese currency in todays Asian session...


Share it on:   or