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
AUD/USD post moderate gains on solid US data, weak Aussie PMI
The Australian Dollar registered solid gains of 0.65% against the US Dollar on Thursday, courtesy of an upbeat market mood amid solid economic data from the United States. However, the Federal Reserve’s latest monetary policy decision is still weighing on the Greenback. The AUD/USD trades at 0.6567.
EUR/USD recovers to top end of consolidation ahead of Friday’s US NFP
EUR/USD drove back to the top end of recent consolidation on Thursday, recovering chart territory north of the 1.0700 handle as market risk appetite regains balance heading into another US Nonfarm Payrolls Friday.
Gold recoils on hawkish Fed moves, unfazed by dropping yields and softer US Dollar
Gold price clings to the $2,300 figure in the mid-North American session on Thursday amid an upbeat market sentiment, falling US Treasury yields, and a softer US Dollar. Traders are still digesting Wednesday’s Federal Reserve decision to hold rates unchanged.
Ethereum may sustain trading inside key range, ETH ETFs to be delayed until 2025
Ethereum is beginning to show signs of recovery on Thursday despite a second consecutive day of poor performance in Hong Kong's spot Ethereum ETFs. Bloomberg analyst James Seyffart has also shared that a spot Ethereum ETF may not happen in the US in 2024.
FOMC in the rear-view mirror – NFP eyed
The update from May’s FOMC rate announcement proved more dovish than expected, which naturally weighed on the US dollar (sending the DXY to lows of 105.44) and US yields, as well as, initially at least, underpinning major US equity indices.