On Monday, the evergreen buck traditionally viewed as a safe-haven asset, went down in Asia after tension with China strengthened against the backdrop of everlasting worries surrounding Chinese technology company Huawei Technology…
Common currency retreats from 10-month low
On Wednesday, the common currency drifted away from the minimum of ten months against the evergreen buck. Financial markets are currently reviving after a sell-off provoked by political instability in Italy.
The currency pair EUR/USD was seen at 1.1614, having rebounded from the minimum of Tuesday -1,1509, which is the highest outcome since July 2017.
For this month, the common currency has dipped against its American counterpart by up to 3.8%.
The appreciation of the common currency took place notwithstanding the everlasting uncertainty as for the formation of the government in Italy.
Market participants are afraid that the repeated elections in Italy can turn out to be a referendum on the role of Italy in the European block as well as its future in the euro area.
Simultaneously, market participants keep worrying about political risks in the euro zone.
The ongoing trade clash between the United States and China also generates worries among traders after Donald Trump announced that America will soon roll out tariffs on Chinese goods worth about $50 billion.
Moreover, this Friday the EU exceptions from the American import tariffs on aluminum and steel will expire.
On Wednesday, a report was uncovered that disclosed that inflation in Germany happened to be higher than projected values. Evidently, it strengthens the issues that the ECB officials will face when talking about the problem of taming the financial incentive program.
The common currency managed to ascend against the Japanese yen. The common currency EUR/JPY tacked on 0.73% coming up with an outcome of 126.41, having rebounded from Tuesday's minimum of 125.06 – an outcome, which hasn’t been observed since the end of June 2017.
The euro also edged up against the Swiss franc. The currency pair EUR/CHF rallied 0.4% being worth 1.1484 after a sag of 1% on Tuesday.
On Monday, the prices of key crypto assets managed to surge in Asia due to the fact a Winklevoss-backed crypto exchange is braced for trading Bitcoin Cash, while Venezuela told that it would trade crude via its digital coin…
On Friday, the evergreen buck declined versus its major counterparts because dismal jobs report did little to affect expectations the key US bank might rein in rate lifts…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
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…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…