investing forex

Forex - Yen Rises as Trump-Kim Summit Ends Abruptly - Investing.com
Forex - Dollar Mixed as Yen, Sterling Gain Ground - Investing.com
Forex - Yuan Little Changed Following Weak PMI Data; U.S. Dollar Also Flat - Investing.com
Forex - Dollar Dented by Soaring Sterling, Dovish Powell Remarks - Investing.com

Forex - Yen Rises as Trump-Kim Summit Ends Abruptly - Investing.com

Posted: 28 Feb 2019 12:45 AM PST

Investing.com - The Japanese yen, often viewed as a safe-haven currency, was in demand in early European hours on Thursday, after U.S. President Donald Trump his nuclear summit with North Korean leader Kim Jong-un.

The news, together with more weak economic data out of China, stoked profit-taking in risk assets across Asia, something which generally supports the yen because it's the cheapest currency in which to fund short-term bets.

The pair was down 0.2% at 110.75 by 3:45AM ET (08:45 GMT), falling back towards Wednesday's two-week low of 110.34.

"Basically, they wanted the sanctions lifted in their entirety and we couldn't do that," Trump told reporters.

"We asked Chairman Kim to do more and he was unprepared to do that," added Secretary of State Mike Pompeo.

Earlier, both Trump and Kim had expressed hope for progress on improving relations and on the key issue of denuclearization, in their talks in the Vietnamese capital, Hanoi.

The , which measures the greenback's strength against a basket of six major currencies, was down 0.1% at 95.93, as investors looked ahead to the release of U.S. fourth-quarter GDP data later in the day.

It fell to a three-week low of 95.75 a day earlier, largely a function of the sharp rise in sterling as the risk of a disorderly 'no-deal Brexit' receded further.

The was a shade lower early Thursday in Europe at $1.3290. It rallied to a seven-month high of $1.3351 on Wednesday after the opposition Labour Party formally adopted a call for a second referendum rather than accept a 'no-deal' Brexit. The governing Conservative Party has also softened its stance under pressure from Remain-minded lawmakers.

"The push and pull factors for sterling seem set for the short term in that delays and soft Brexit options will lead to strength, with a hard-deal Brexit leading to significant pull backs," noted Nick Twidale, chief operating officer at Rakuten Securities Australia in Sydney.

Elsewhere, risk appetite in general was damped by U.S. Trade Representative Robert Lighthizer telling a Congressional hearing it was too early to predict an outcome in U.S.-China trade negotiations. That was his first public comment since Trump announced a delay to the scheduled increase in Chinese import tariffs on Sunday.

"One suspects trade headlines will continue to throw around sentiment for a while yet. The issues are complex, the trade-offs real, and opinions divided," ANZ strategists said in a note.

-- Reuters contributed to this report

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Forex - Dollar Mixed as Yen, Sterling Gain Ground - Investing.com

Posted: 27 Feb 2019 12:49 AM PST

Investing.com - The U.S. dollar was mixed against the other major currencies on Wednesday as the yen gained ground on the back of geopolitical tensions and the British pound pushed higher with investors expecting Brexit to be delayed.

was down 0.12% to 110.43 by 03:34 AM ET (08:34 GMT) after touching a one-and-a-half week low of 110.36 overnight.

The safe haven yen was boosted as tensions between India and Pakistan escalated after Pakistan said it had at its border.

Sterling was trading near the previous session's five-month highs, with advancing 0.18% to 1.3273.

The pound rallied on Tuesday after British Prime Minister Theresa May offered lawmakers t, opening up the possibility of avoiding a no-deal Brexit.

The British currency was trading near 21-month highs against the euro, with down 0.24% to 0.8576.

The euro was a touch higher against the dollar, with at 1.1391.

The against a basket of six major currencies stood at 95.843 after shedding 0.42% on Tuesday, when it hit 95.81, its lowest since Feb. 6.

The drop in the greenback came after Federal Reserve Chairman Jerome Powell that the central bank would stay patient on monetary policy, and as the pound rallied.

Powell said on Tuesday that rising risks and recent soft data were unlikely to prevent solid growth for the U.S. economy this year, but that the would remain "patient" in its decisions on further interest rate hikes.

"The dollar's fall was a little puzzling as Powell's comments did not offer fresh insight. But the market was in a state where the dollar was sensitive to potential bearish factors, and the strong pound also weighed," said Masafumi Yamamoto, chief forex strategist at Mizuho Securities.

- Reuters contributed to this report

Forex - Yuan Little Changed Following Weak PMI Data; U.S. Dollar Also Flat - Investing.com

Posted: 27 Feb 2019 09:08 PM PST

Investing.com - The yuan was little changed on Thursday in Asia following the release of weaker-than-expected PMI data.

This month's came in at 49.2, sliding lower than the 49.5 in January, official data showed. The February reading was expected to stay unchanged from last month's 49.5.

A reading below 50 means the manufacturing sector contracted, while a PMI above 50 represents an expansion when compared with the previous month.

Meanwhile, sector also slowed to 54.3 from January's 54.7. The decline was larger than the expected 54.5.

The data had a limited impact on the yuan. The pair last traded at 6.6806 by 12:01 AM ET (05:01 GMT), down 0.01%.

The Caixin manufacturing PMI is due on Friday, while ongoing developments surrounding the U.S.-China trade talks are also expected to direct near-term movements.

Meanwhile, the that tracks the greenback against a basket of other currencies was little changed at 95.998. Although not a major directional driver, U.S. Donald Trump's top trade negotiator Robert Lighthizer dialled back expectations for a sweeping trade deal with China. Lighthizer said "it is too early to predict the outcome" of negotiations between the U.S. and China, as "significant structural changes" were needed to the Chinese economy.

His comments came after U.S. President Donald Trump delayed more tariffs on Chinese goods earlier this week, citing "substantial progress" in the latest round of trade talks that were led by Lighthizer and China Vice Premier Liu He.

Elsewhere, the pair edged up 0.1%. The pair received some support after data showed Australian (CAPEX) came in above estimates. CAPEX was up a seasonally adjusted 2.0% on quarter in the fourth quarter of 2018, the Australian Bureau of Statistics said on Thursday. Analysts previously expected the expenditure to rise 1.1% following the 0.5% decline in the three months prior.

The pair later gave back some of its gains following the release of a weaker-than-expected China manufacturing PMI data.

The pair slipped 0.1% to 110.88.

Forex - Dollar Dented by Soaring Sterling, Dovish Powell Remarks - Investing.com

Posted: 26 Feb 2019 11:25 AM PST

Investing.com - The U.S. dollar traded lower against a basket of major currencies Tuesday after Federal Reserve Chairman Jerome Powell said the central bank would remain patient on interest-rate hikes.

The , which measures the greenback's strength against a trade-weighted basket of six major currencies, fell 0.22% to 96.06.

Powell delivered an upbeat assessment of the economy, though he did acknowledge there were some headwinds. He also said the central bank was prepared to adjust its runoff of the balance sheet policy as necessary.

The dollar was also pressured by a surge in the pound to 21-month highs on rising expectations the U.K. will delay Brexit and request the EU extend the March 29 deadline, when Britain is expected to leave the bloc.

rose 1.34% to $1.3270.

The prospect of Brexit getting overturned also boosted sentiment after the leader of the main opposition party to the U.K. government, Jeremy Corbyn, said he would back a second referendum on Brexit.

Mizuho International, however, downplayed the prospect of a second referendum, writing in a note Tuesday: "The chance of a second referendum still looks very slim, marginally higher than previously, because the backing from Labour has many conditions and comes from a party which has weakened both in the opinion polls and in the House of Commons."

Better-than-expected U.S. consumer confidence data, meanwhile, pointed to ongoing consumer strength, which plays a major in overall economic activity. That limits downside momentum in the greenback.

The rose to 131.4 in February, from 121.7 last month, beating economists' forecast for a reading of 124.7.

rose 0.19% to $1.1380. Sentiment on the single currency has improved after ratings agency Fitch decided last week not to downgraded Italy's debt below "investment grade."

fell 0.33% to Y110.70, while gained 0.01% to C$1.3190.

Search This Blog

Forex Trading Platforms

investing forex

investing forex

Comments

Post a Comment

Popular posts from this blog

NZD/USD drops from weekly highs post-dismal ADP report, meanders around 0.6630s - FXStreet

Position Sizer Expert Advisor for MT4/MT5 - EarnForex News

Wyckoff Method: Rules, Accumulation, and Distribution - Investopedia