Summary
Equity market volatility, occasionally translating into currencies, has masked the desultory trading of the dollar against euro and the yen since the beginning of May. On the first of that month the euro closed at 1.1199, five months later September 25th it ended at 1.1195. On May 1st the yen traded at 120.15 against the dollar, last Friday it finished at 120.59. The Dollar Index has been similarly becalmed, opening May at 95.297 and concluding last week at 96.269, a bare 1 percent move. The movers have been commodity currencies and emerging markets. The Brazilian Real has lost 29 percent of its dollar value since May 1st, the Canadian Dollar 10 percent, the Australian Dollar 11 percent, the Mexican Peso 9 percent and the JP Morgan Emerging Markets Currency Index is off 11 percent. Has the commodity crash run its course or is a new collapse coming as China faces a slowdown of unknown proportions? What trends old or new are likely to run through the end of the year? Join us for an examination of currency market prospects for the coming quarter.Latest Live Videos
Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.