Live Breaking News & Updates on Watchers Survey|Page 3
Stay updated with breaking news from Watchers survey. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Euro is showing signs of fortitude in relatively subdued market conditions today. The overnight rebounds in EUR/USD and EUR/CHF indicate that bearish traders are hesitating to drive the market, while EUR/JPY continues its upward stride. On the other hand, Dollar is engaged in a tight contest with Euro, mostly reversing its losses from the previous week. Investors were left wanting more after Federal Reserve Chair Jerome Powell's recent speech, which skirted around pivotal topics such as interest rate changes and the economic forecast, focusing instead on forecasting. ....
As US session unfolds, the Dollar is showing signs of rally, buoyed by recovery in benchmark treasury yield. This modest uplift comes despite a general lack of direction owing to a sluggish risk sentiment across markets. Euro is losing momentum as its earlier recovery falters, whereas other European majors are also on the back foot. Commodity currencies seem to garner strength while Yen is mixed. ....
Japanese Yen is trading on a softer note in Asian session as the rebound witnessed yesterday begins to lose steam. A notable comment from Japan's Finance Minister Shunichi Suzuki raised some interest among market observers. Suzuki attributed the ongoing weakening of Yen partly to interest rate differentials, steering away from the customary practice of solely pointing fingers at speculative trading. The markets are now awaiting to see if this expanded rhetoric will hold over time. More significantly, the change in tone could potentially hint at BoJ mulling over the idea of moving away from its negative interest rate regime or could even suggest an acceptance of a further decrease in Yen's exchange range. ....
Yen facing renewed selling pressure today as the development coincides a remarkable rebound in Nikkei and pullback in 10-year JGB yield. The notable rally in Nikkei, marking its largest single-day surge in nearly a year, is pivotal, signifying the potential of an extended risk-on sentiment in Japan that could correlate with a further depreciation of Yen. ....
Today's Asian session witnessed a revitalized forex market, triggered largely by pivotal economic data releases. Japan's weaker-than-anticipated wage growth data placed Yen under notable pressure, reinforcing BoJ's commitment to persist with its ultra-loose monetary policy. Simultaneously, unexpectedly poor trade figures from China exerted downward force on Hong Kong stocks, as well as on Australian and New Zealand dollars. ....