CHF: losing value
USD/CHF and EUR/CHF rose to tactical highs. What's next?
Evergreen buck keeps soaring, euro slumps
On Monday, the evergreen buck surged, while the common currency slipped due to the fact that fears over Italy’s budget plan annoyed market participants.
The currency pair EUR/USD went down by 0.43% showing 1.1473, rebounding towards the previous week’s one-and-a-half month minimum of 1.1463.
The common currency extended losses because Italy's Deputy Prime Minister Matteo Salvini told that European Commission Governor Jean-Claude Juncker as well as Economic Affairs Commissioner Pierre Moscovici turn out to be the real foes of the European bloc.
Brussels and Italy have been clashing over Italy’s budget deficit plans for the next three years that violate EC rules on having excessive deficits as well as high debt. Nevertheless, on Saturday, Italy was still firm with its stance of not retreating from the country’s spending plans.
Market participants paid attention to the news that the US Treasury is concerned over China’s currency manipulation.
Estimating the US currency’s purchasing potential versus a number of its primary opponents the USD index managed to inch up by up to 0.24% trading at 95.54.
Hopes for future Federal Reserve rate lifts helped to push the evergreen buck up because the revenue on the benchmark 10-year Treasury note headed north to 3.227% the previous week, which is its highest outcome since 2011.
At the same time, the UK pound declined due to the fact that uncertainty over Brexit as well as the Irish border worried traders. The European Union is on the verge of offering Great Britain "anywhere" checks. To put that another way, it means that exports would be examined at the source instead of a port thus excluding the necessity for a hard border. Therefore, the currency pair GBP/USD lost 0.37% trading at 1.3068.
The currency pair USD/JPY declined by 0.52% trading at 113.12.
Similar
USD/MXN: optimistic on the vaccine coming?
During the daily press briefing of Andres Manuel Lopez Obrador, it was announced that Mexico will receive 1.4 million doses of the vaccine by the end of January. Is that optimistic enough for the peso?
The US jobless claims!
The US unemployment claims are announced on Thursday at 15:30 MT time.
Latest news
Oil surged after OPEC meeting
Great news for oil bulls! OPEC and its allied producers agreed to expand output cuts for the next month.
USD surged after Fed's speech. NFP is eyed
The USD skyrocketed after Fed Powell’s speech. OPEC and allied producers agreed to extend production cuts for another month. Oil surged.
What will happen to the euro after the ECB meeting?
The European Central Bank publishes its monetary policy statement that includes an announcement of the interest rate on March 11, at 14:45 MT time.
Deposit with your local payment systems
