Poor trade figures from March coupled with increased demand for cash has sunk the Australian Dollar amid a flight to the safe havens. As the Japanese Yen and the US Dollar have rallied, the Euro is also under pressure following some divisive comments from the Greek Syriza party leader.
Another weak jobs print has raised questions regarding the US recovery, dampening an already diminishing global growth picture. With US Treasury yields falling, the US Dollar has traded lower against the Euro and the Japanese Yen, while the commodity currencies have been slammed by the report
Another bout of poor data out of the Euro-zone has crushed the Euro today, dropping the common currency back to its lowest level against the US Dollar in over a week. Alongside the flight to the Greenback, the Japanese Yen has been performing well, surging after a disappointing US labor market reading.
The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR ) moved to retake some of its losses from Friday after personal income and spending data showed a strengthening American consumer. Despite the uptick in data, the Japanese Yen remained the top performer on Monday
Things are starting to get interesting and we may get a chance to enter the market with a Eur/Usd short above 1.3300. We are also watching then Yen closely…
The greenback launched a counter-offensive today as risk assets came under pressure with the dollar advancing against all its major counterparts save the yen. Key levels to watch on USDJPY and USDCAD.
Japanese Yen Continues Post-US GDP Climb Against US Dollar
April was choppy and difficult to navigate. May ideally ushers in better conditions. Continue to watch the Yen crosses, as many are near/at their 50% retracements from the February lows
Dollar little changed vs euro after mixed US data The Japanese yen jumped against the dollar on expectations that the Bank of Japan will increase its bond-buying program to help the country's economy.
SYDNEY, April 30 — The US dollar stayed under pressure today in the wake of disappointing first-quarter US economic growth, leaving the yen, sterling and even high-beta currencies such as the Australian dollar at multi-week highs. The dollar fell as low as ¥80.25, plumbing depths not seen since late February. It last stood at £80.34
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