The new stimulus for the euro? Mario Draghi sent EUR/USD lower on the dovish hints.
This is the most important news in the Forex market today.
Common currency ascends ahead of euro zone data
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program.
The common currency rallied by 0.17% trading at 1.1725 having soared by 0.41% yesterday.
Euro zone GDP figures are anticipated to demonstrate that in the second quarter the annual rate of surge speeded down a bit, while headline inflation is anticipated to stay intact.
The common currency managed to add versus the Japanese yen too. The currency pair EUR/JPY soared by 0.38% trading at 130.49.
After its latest policy gathering the BOJ promised to keep interest rates low enough.
The major bank also made minor tweaks to its asset purchase program for the purpose of making it more flexible. However, market participants had hoped for more radical moves on its part.
The BOJ’s monetary policy tweaks actually reflected the bank’s estimate that it would take more time for inflation to achieve its 2% objective.
Versus the evergreen buck the Japanese yen headed south. The currency pair USD/JPY hit 111.27 adding 0.2% for the day having hit an overnight maximum of 111.45.
Assessing the greenback’s purchasing power versus a number of its main rivals, the USD index slumped by about 0.07% hitting 94.09, rebounding from Friday’s one-week maximum of 94.7.
Market participants are waiting for the conclusion of the Fed’s two-day policy gathering on Wednesday, where it’s expected to announce its third rate lift in 2018 in September.
Additionally, the British pound managed to ascend versus the evergreen buck. The currency pair GBP/USD tacked on by 0.08% trading at 1.3142, although slumped versus the common currency. The currency pair EUR/GBP rallied by 0.11% demonstrating 0.8923.
Similar
The euro has risen above the 100-day MA on the comments by Mario Draghi
During today's press conference, the ECB president said that the data was "somewhat" better than the expectations in the first quarter. T
Will the jobs data support the aussie?
Australia will release the level of employment change and unemployment rate on June 13, at 4:30 MT time.
Latest news
British inflation tacks on for the first time this year
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
Evergreen buck heads north
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
Gold sinks on soaring greenback
On Monday, gold declined because the evergreen buck managed to gain early traction, thus putting pressure on the most popular precious commodity, which has been sticking with the year’s minimums…
Deposit with your local payment systems
