Crypto assets slump amid market selloff
On Tuesday, key crypto assets declined in Asia due to the fact that digital token companies are reducing their staff in the face of a huge market selloff…
Euro hits 3-day maximum on trade talk expectations
On Thursday, the common currency kept to a three-day maximum because concerns as for a global trade conflict relieved after the USA along with the European bloc made up their mind to start negotiations on lowering duties.
Following Wednesday’s negotiations with European Commission President Jean-Claude Juncker, American leader Donald Trump informed that they had decided to fruitfully cooperate toward zero duties, zero non-tariff barriers as well as zero subsidies on non-auto industrial products.
However, the moves in the EU’s major currency turned out to be far more subdued compared to stocks. As a matter of fact, car equities managed to ascend 2%, bond profits rallied because traders awaited the fine print to show up on the trade discussions.
The common currency rallied 0.1% being worth $1.1738, extending its soar after leaping 0.4% yesterday, Before the Trump-Juncker negotiations, the euro sank to a minimum of $1.1664.
The very focus for currency markets was the ECB’s policy verdict due later on Thursday exactly where market participants are going to study remarks by Governor Mario Draghi for any further clues on the tempo of policy normalization.
However, another sink of the Chinese Yuan after yesterday's bounce actually undermined broader risk hunger in the financial markets. The Chinese Yuan edged down 0,5% hitting 6.79.
Apparently, a more than 6% slump in the value of the Chinese Yuan versus the evergreen buck since mid-June as trade clashes worsened has pressured export-oriented emerging markets.
For the last two weeks market participants ramped up bearish deals on all emerging Asian currencies, as follows from a Reuters survey.
Additionally, the USD index kept to a two-week minimum versus a group of six key currencies and it declined 0.25% hitting 94.131.
The UK currency stood still showing $1.3202 because hopes as for a rate lift next week from Britain’s key bank backed the British pound.
Similar
Evergreen buck goes down amid US-China trade negotiations
On Tuesday, the evergreen buck declined on reports that America and China are moving to the next stage of their trade negotiations…
UK pound keeps to 20-month minimum on Brexit setback
On Tuesday, the UK pound kept to a 20-month minimum versus the evergreen buck because UK Prime Minister Theresa May delayed a decisive vote on her Brexit agreement, thus increasing the risk of a chaotic departure from the European bloc…
Latest news
Forex today: easing geopolitical tensions
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
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…
Greenback edges down
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…
Deposit with your local payment systems
