What will happen? US consumer confidence will be announced at 5:00 MT (GMT+3) on Tuesday, July 27…
Greenback wobbles vs. yen on heightened risk aversion
On Tuesday, the evergreen buck wobbled against the Japanese yen, buckling against its safe-haven Japanese counterpart because a risk-averse mood spread through the broader markets.
This week investor appetite for risk has been dulled by several factors, including an anxious wait for an approaching meeting between Chinese President Xi Jinping and US President Donald Trump as well as a suspected suicide bombing in St. Petersburg, Russia.
The greenback extended its overnight losses and dropped 0.2%, hitting 110.660 yen, having reached 110.480, its lowest value in a week.
Monday's mostly positive American construction spending as well as manufacturing data affirmed a steady improvement in the US economy, though did little to uphold Treasury yields and the greenback.
The common currency was steady at $1.0667, having soared just 0.2% overnight against the greenback. Its advance was tempered by a steep drop in German bund yields powered by flight-to-safety, reacting to the bombings in St. Petersburg.
The OPEC meeting and the US Nonfarm Payrolls rocked the market last week. The market is torn between optimism about the global economic recovery and concerns about the new coronavirus strains.
All eyes are turning to the Federal Reserve and the US dollar. How to trade XAU/USD, EUR/USD, and GBP/USD?
What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
Hong Kong stock index extended a decline sparked by China’s tech crackdown. Tesla posted better-than-expected results. Jump in!
This week Apple, Microsoft, Google, Facebook, Pfizer, and other large US companies will deliver earnings reports…