For the first time in 20 years, the value of the euro and the US dollar are equal.
New York (CNN Business) For the first time in 20 years, the exchange rate between the euro (EUU) and the US dollar has reached parity — meaning the two currencies are worth the same. The euro hit $1 on Tuesday, down about 12% since the start of the year. Fears of recession on the continent […]
Traders focus on US inflation data (CPI) and European Central Bank (ECB) policy decision
Filipino Forex Traders around the world, focused on the upcoming U.S. inflation data and a European Central Bank (ECB) policy decision, both due later in the day. For the time being, global equities are hanging around an all-time high. The US dollar shrugs off weaker Treasury yields. The ECB eyed for economic outlook. To keep […]
Japan’s Job Conditions May Worsen Further as EUR/USD Regains 1.1800 Level
Job conditions in Japan are likely to worsen further as the economy struggles to recover from the Covid-19 pandemic, which followed a slump caused by consumption tax increase in October 2019, SMBC Nikko Securities says. Deteriorating jobs conditions aren’t fully reflected in the jobless rate as some workers are asked to cut working hours, the […]
USD/JPY Struggles for 106.00 as EUR/USD Eases Around 1.1800
Fewer Australians were reporting feeling concerned about their personal health due to Covid-19 in June compared with May, according to the Australian Bureau of Statistics. It reports that 54% in June showed concerns compared with 62% in May. Also, around 48% of Australians self-isolated in June compared with 62% in May, while only one-third of […]
GBP/USD Rally May Have Peaked, Eurozone’s Outlook & USD Weakness
Sterling’s surge to pre-Covid-19 highs against the U.S. dollar Wednesday, when GBP/USD hit 1.3268 according to FactSet, may not happen again, says ABN Amro. The Dutch bank expects GBP/USD to fall as investors switch to a greater focus on Brexit uncertainty and weaker U.K. data, combined with a less negative sentiment towards the dollar, says […]
The latest Market Talks covering President Donald Trump and U.S. politics
The U.S. dollar could find some support from August seasonality, which tends to favor the currency, while profit-taking could keep the currency from weakening further in the short term, says Bank of America. Yet a recovery is not in sight, with market positioning showing that investors are still betting the dollar will fall. The failure […]