24 October, 2013
The euro hovers at a two-year high against the dollar, recovering from a brief dip following Euro zone PMI business sentiment data for October which missed forecasts.
EURUSD flirted with the $1.3800 level, peaking at $1.3825, which is the highest since November 2011.
The euro remains bullish in the short term on the back of a weaker US dollar. The greenback was knocked down after disappointing US jobless claims data, which showed more Americans filed for unemployment benefits in the prior week.
USDJPY has been mostly range-bound today, but has fallen over 1 percent since the Tuesday high of 98.47.
The dollar fell to 97.22 against the yen, a level tested a few times today. A further decline is prevented due to the relatively risk-on appetite in markets today on the back of stronger-than-forecast China PMI data.
The British pound slipped briefly after softer than expected CBI data on UK Industrial Order Expectations. GBPUSD touched a session low of $1.6136 before bouncing again after the US jobless claims data hurt dollar.
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...
The first full trading week of 2014 began today, with Japan opening for the first time after a two-week holiday...
The pair extended the positive trading, whereas it approached 61.8% correction at 1.3625
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...
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%...
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...
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...
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...
The dollar remains bullish against the yen, while the euro hit a new four-year high against the Japanese currency in todays Asian session...