Posts Tagged ‘forex news’
USD/JPY recovers as traders buy the dip
USD/JPY staged a recovery as traders seized the opportunity to buy the dip in the currency pair. After a period of decline, the pair saw renewed interest from investors looking to capitalize on the lower price levels. One of the factors contributing to the recovery of USD/JPY was the return of risk appetite in the…
Read MoreEUR/JPY extends recovery above 168.00 on upbeat Eurozone data
EUR/JPY continued its upward trajectory, surpassing the key level of 168.00, buoyed by encouraging economic data from the Eurozone. The euro found support as the region’s economic indicators painted a positive picture, fueling optimism among investors. One of the primary drivers behind the euro’s strength was the upbeat Eurozone data, including robust manufacturing and services…
Read MoreEUR/USD recovers on weaker US Services PMIs
The EUR/USD currency pair staged a recovery as the US Services PMIs (Purchasing Managers’ Index) exhibited unexpected weakness, signaling potential challenges for the American economy. The Euro strengthened against the US Dollar as investors reacted to the data, which indicated a slower-than-anticipated expansion in the US services sector. This development contrasted with earlier market expectations,…
Read MoreForex Today: EU inflation figures, US employment data and PMI report to drive the action
In today’s forex market, traders are closely monitoring a trifecta of influential factors poised to shape market sentiment: EU inflation figures, US employment data, and the Purchasing Managers’ Index (PMI) report. Firstly, eyes are on the European Union’s inflation data, a crucial gauge of economic health. Any surprises in these figures could potentially sway the…
Read MoreForex Today: Gold surges to new record high on Easter Monday
In a remarkable surgeon Easter Monday, the price of gold soared to unprecedented heights, setting a new record high in the forex market. As financial markets reopened after the holiday weekend, investors were greeted with a flurry of activity, particularly in the precious metals sector. Gold, often considered a haven asset, experienced a dramatic rally,…
Read MoreAsia FX flat as dollar rises before the Fed; yen plumbs 4-mth lows
Most Asian currencies moved little on Wednesday amid caution before more signals on interest rate cuts from the Federal Reserve due later in the day, with the dollar sitting at two-week highs. The Japanese yen extended its declines after the Bank of Japan struck a largely dovish chord, despite hiking interest rates for the first…
Read MoreBoJ’s Pivot Imminent: Yen Ready for Takeoff or Tumble? Setup on USD/JPY
The Bank of Japan is set to wrap up its March monetary policy meeting on Tuesday (Japan time, still Monday in NY). After recent media leaks, the institution led by Governor Kazuo Ueda is widely expected to end negative borrowing costs, raising its benchmark rate to 0.0% from -0.1%. This would be the first hike…
Read More