On Thursday, prices of the key crypto assets headed north in Asia…
Evergreen buck soars on dismal EU outlook
On Wednesday, the evergreen buck tacked on versus the common currency due to the fact the euro was suppressed by fears about the euro zone economy. Meanwhile, the UK currency surged ahead of a no-confidence vote in Theresa May's cabinet.
The common currency slumped by 0.13% versus the evergreen buck hitting $1.140, after being suppressed earlier to a 12-day minimum of $1.138. Previously this week, it was reported that Germany managed to escape a recession in the second half of the previous year and ECB Governor Mario Draghi told on Tuesday that the euro zone economy appeared to be weaker than expected.
Outgoing ECB governor Mario Draghi acknowledged the dimmer outlook and his cautious tone added tracking to the common currency’s rebound from three-month maximums. Market experts aren’t assured that the EU’s major bank will be capable of normalizing its monetary policy later in 2019.
In the United Kingdom, May is generally anticipated to retain power in the confidence motion, called by Jeremy Corbyn, the opposition Labour Party leader after a devastating defeat of the prime minister's Brexit divorce pact in the country’s legislative body on Tuesday.
Apparently, defeat of the pact left Great Britain’s departure from the European bloc in disarray 10 weeks before it’s due to take place.
Although the UK currency had tumbled by over 1% versus the evergreen buck early on Tuesday, it tacked on after the parliamentary vote on the pack because traders were assured that the defeat would make the United Kingdom pursue different options as for the European bloc.
As a result, the common currency dived by 0.3% versus the UK pound, reaching a seven-week minimum of 88.44 pence.
The evergreen buck dived by 0.17% against Japan’s currency hitting 108.83 having rallied by 0.5% versus its Japanese counterpart overnight.
On Thursday, the common currency stood still after evidence of strength in the Chinese economy improved the outlook for the world economy, with the financial markets looking next to EU gauges to provide the euro with a further boost…
On Wednesday, the evergreen buck stood still in holiday-thinned trade because another round of positive earnings kept pushing traders towards equities as well as other riskier assets…
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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…