The euro (EUR) extended its drop to a new two-year low at 1.2219 against the US dollar (USD) on Friday on speculations that the Federal Reserve will increase their interest rates as early as in Q2. Today the European Consumer Confidence will be announced and is expected to be at -11.
The US dollar (USD) climbed to 119.61 on Friday against Japanese yen (JPY) as the Fed will probably hike their interest rates in the middle of next year. Today the US Existing Home Sales will be announced and are expecting to be at 5.21M.
US equities had the second biggest weekly gain this year as Fed will probably rise the interest rates in the middle of next year, while US economy expanded by 3.9% this year. The US 500 (SPI) climbed to 2075, the US 30 (DOW) advanced to 17841 and the US Tech (NDQ) went to 4288.
The euro (EUR) collapsed from 1.2569 down to 1.2319 against the US dollar (USD). The single currency dropped after Janet Yellen stated that interest rates will rise gradually next year while expressing her concerns about the economy.
The US dollar (USD) skyrocketed from its monthly low at 115.55 all the way up to 119.00 against the Japanese yen (JPY), on yesterday’s session. The greenback strengthens across the board after the FOMC statement, erasing yen’s previous gains.
The US equities erased part of their previous losses as Fed indicates economic growth in the US. The US 500 (SPI) advanced up to 2010, the US 30 (DOW) rose up to 17324 and the US Tech (NDQ) increased to 4172.
The euro (EUR) managed to break its previous resistance and climbed up to 1.2569 against the US dollar (USD). The euro advanced ahead of the FOMC statement due today at 19:00 GMT as investors are watching for signals from the Fed of rising interest rates.
The US dollar (USD) continues the decline as drops down to 115.55 against the Japanese yen (JPY). The yen continues to rise as investors are shifting towards safer assets due to the substantial slump of oil prices and after Shinzo Abe election.
The US equities collapsed as there are concerns about global economic growth. The US 500 (SPI) declined down to 1969, the US 30 (DOW) dropped from 17429 to 17050 and the US Tech (NDQ) fell to 4083.
The euro (EUR) remains range bound between 1.2413 and 1.2485 against the US dollar (USD). The single currency is paused ahead of the PMI services releases across the Eurozone. Better than expected results may push the euro higher.
The US dollar (USD) continues the downside as it reaches its one month low at 117.10 against the Japanese yen (JPY). The yen advanced as Shinzo Abe is preparing for Abenomics 2.0 in order to boost economic growth.
Japan 225 (NKI) collapsed down to its 6-week low at 16693, as the yen gains ground and energy prices continues the decline.
WTI Crude (OIL) and Brent Oil (BRT) resume the decline as they reached new lows at 55 and 60 US dollars per barrel respectively. The energy prices continue the downside as OPEC decided to maintain its production and failed to act in order prevent further decline.
The risk disclaimer is meant to inform the user of the potential financial risks of engaging in foreign exchange trading, and should be read in conjunction with the Risk Statement and Disclosure contained in the Terms and Conditions ("User Agreement").
The transaction of such financial instruments known as Forex, fx, or currency, and dealt on a valued basis known as "spot" or "forward", "day trading" and "option", can contain a substantial degree of risk. Before deciding to undertake such transactions with Easy-Forex LTD (hereinafter Easy-Forex), and indeed, any other firm offering similar services, a user should carefully evaluate whether his/her financial situation is appropriate for such transactions.
Trading foreign exchange may result in a substantial or complete loss of funds and therefore should only be undertaken with risk capital. The definition of risk capital is funds that are not necessary to the survival or well being of the user. easy-forex® strongly recommends that a user, who is considering trading foreign exchange products, read through all the main topics contained in the easy-forex® website so that he/she may obtain a clear and accurate understanding of the risks inherent to fx trading.
Opinions and analysis on potential expected market movements contained within the easy-forex® website are not to be considered necessarily precise or timely, and due to the public nature of the Internet, easy-forex® cannot at any time guarantee the accuracy of such information. Information provided on this website is intended solely for informational purposes and is obtained from sources believed to be reliable and accurate. Information is in no way guaranteed.
EASY FOREX and EASY FOREX logo are trademarks and/or registered trademarks in the United States and/or other countries.
10 years of Webinars
10 years since the first live Q&A session on FXStreet: Who are the longest running speakers on FXStreet?Check the list!
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXStreet are those of the individual authors and do not necessarily represent the opinion of FXStreet or its management. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.Any opinions, news, research, analyses, prices or other information contained on this website, by FXStreet, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXStreet will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.