What’s on the Economic Horizon
U.S. Core PCE to Show a 0.1% Rise
Euro zone Inflation Rate to Surge to 2.4%
U.K.’s Nationwide HPI on Deck
United States
What a time for risk aversion to kick in! The turmoil in Egypt had the dollar strengthening against riskier currencies, but because of a soft GDP showing, it weakened against the other safe havens. EUR/USD dropped 128 pips to 1.3609 while USD/JPY fell 73 pips to 82.14. More…
Euro zone
Unfortunately for the euro, it’s all about the Greenback last Friday as risk aversion reared its head again in the forex market. EUR/USD ended the day at 1.3609, almost 130 pips lower from its opening price. Will the situation in Cairo continue to fuel risk aversion? Or will this week’s data be able to help the euro regain some of its losses? More…
United Kingdom
Kaboom! Last Friday the pound dropped against its counterparts faster than Bruno Mars could say “I’m guilty” on a huge wave of risk aversion in markets and bad economic data from the U.K. GBP/JPY fell 171 pips to 130.28, while GBP/USD ended the day 66 pips lower than its open price. More…
Japan
Now that’s what I’m talking about! The yen came back with a vengeance against its major counterparts last Friday when a burst of risk aversion sent the traders flocking to the low-yielding currencies. Despite the gloomy economic reports from Japan, USD/JPY plunged by 73 pips to 82.14 and EUR/JPY plummeted 206 pips from its open price at 111.77. More…
Canada
With all eyes focused on the situation in Cairo, risk aversion took center stage last Friday, much to the dismay of the Loonie bulls. USD/CAD managed to rise above parity again, closing the day 80 pips higher at 1.0011. More…
Australia
Risk aversion was up, so down went the Aussie! With no economic data to catch its fall, the Aussie was left at the mercy of risk aversion, which wasn’t very kind to the high-yielding currency. Although it closed practically unchanged against the USD at .9929, it fell against the yen as AUD/JPY posted a 67-pip fall to 81.55. More…
New Zealand
Whew! Dodged a bullet on that one! The Kiwi ended the day on a near draw against the Greenback last Friday despite the wave of risk aversion in markets. No economic report was released from New Zealand, but NZD/USD capped the day at .7722 after tipping an intraday high of .7794. More…
Switzerland
Good data and risk aversion is all the Swissy needs to run up the charts! Thanks to positive KOF economic barometer numbers and the decline of risk appetite, the Swissy was able to take down its major counterparts. EUR/CHF recorded an 82-pip slide to 1.2818 while USD/CHF dropped 38 pips and landed at .9419. More…
