USD/SGD jumps by 44 pips during the day
USD/SGD rises as the indicators disappoint the market.
Evergreen buck stands still as yen bounces off
On Monday, the evergreen buck stood still, while the safe haven Japanese yen rallied, after a suddenly steep dive in China’s exports spurred fears over the health of the world’s economy.
A traditional gauge of the actual purchasing power of the major American currency versus a number of its primary peers the USD index slumped by 0.07% being worth 95.20. The currency pair USD/JPY tumbled by 0.26% trading at 108.24.
In December, Chinese exports headed south by the most for two years, while imports inched down too. The numbers ramped up worry that fresh American duties on Chinese experts are affecting the Chinese economy. Moreover, data also revealed that China had its biggest-ever trade surplus with America in 2018 that could affect everlasting trade talks with the US government.
For recent weeks the evergreen buck has slumped due to the fact market participants actually expect the US major financial institution to have its rate of monetary tightening paused. Last week Fed Chair Jerome Powell repeated that the Fed is capable of being patient on monetary policy considering that inflation is still steady.
Furthermore, the UK pound revived a bit after the news that Theresa May has supposedly urged her party to back an amendment with a December 2021 deadline to the backstop pact.
The currency pair GBP/USD soared by 0.15% trading at 1.2859.
The common currency was nearly intact. The currency pair EUR/USD hit 1.1463.
The currency pair AUD/USD slumped by 0.2% hitting 0.7199, while NZD/USD headed south by 0.1% reaching 0.6822.
Both currencies had managed to leap by up to 1.5% against the evergreen buck the previous week because risk sentiment improved on expectations for both a US-China trade agreement and more hawkish stimulus from Chinese policymakers to back its ailing economy.
Similar
Market updates on July 17
What is going on in the market today ?
A chance for the Australian dollar
Australia will publish the employment change and unemployment rate on July 18, at 4:30 MT time.
Latest news
British inflation tacks on for the first time this year
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
Evergreen buck heads north
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
Gold ascends on Brexit jitters
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…
Deposit with your local payment systems
