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 is still high, as greenback slides
On Friday, the common currency was still high because the evergreen buck declined and trade worries didn’t recede.
The currency pair EUR/USD managed to ascend by 0.26% reaching 1.1633 because German and French business activity in June turned out to be higher than anticipated, relieving worries of a slowdown in the European Union.
The UK currency was also high too. The currency pair GBP/USD managed to ascend by 0.20% being worth 1.3268.
The USD index, used to estimate the greenback’s purchasing power against six key currencies, inched down by 0.19% demonstrating a reading of 94.36.
Trade tensions between America and its allies resumed because on Friday the European Union put tariffs on $3.4 billion of American imports, including whiskey, motorbikes, and jeans in response to Donald Trump’s aluminum and steel duties.
Responding to this EU’s move, Trump wrote on Twitter that if the European Union doesn’t remove the duties, the US government will have to impose a 20% duty on all their vehicles coming to America.
The duties have backed tensions because market participants are afraid of a probable fierce global trade conflict between America as well as other key countries.
The evergreen buck was also held back by a slump in the Philadelphia Federal Reserve’s manufacturing index, which took place on Thursday. The index went down to a one-and-a-half-year minimum, spurring worries as for the strength of the American economy.
The US currency dived versus the safe-haven Japanese yen. The currency pair USD/JPY dipped by 0.07% hitting 109.91. In times of uncertainty, market participants are prone to investing in the Japanese yen because it’s considered a reliable safe asset during tough periods.
In addition to this, the Australian dollar managed to ascend. The currency pair AUD/USD gained by about 0.65% reaching 0.7425,
On Tuesday, the evergreen buck declined on reports that America and China are moving to the next stage of their trade negotiations…
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…
Did Bitcoin manage to recover and what was the hottest news in the crypto and blockchain world? Read and find out!
On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…